80% Community Cashback

At Layerbet, our core mission is to build a truly fair platform for our users. We believe in sharing the success we generate, and that’s why we’re committed to redistributing a significant portion of our monthly revenue directly back to you. We’ve chosen a cashback model because we believe it’s the most honest and equitable approach. We’ve been around a long time in both the betting and crypto world, and know that simply offering some free bets or introducing a token that might not hold true value is not what users want or deem fair. So instead, we’re putting real money (USDT, XDAI, ETH) back into your hands. The program is specifically designed to provide cashback to players who incurred a monthly net loss, aiming to mitigate the downside risk and foster a stronger sense of community.

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But 80% is a lot?!

Yes, 80% is a significant amount, especially when you compare it to most platforms out there. However, we’ve been professional bettors for a long time, and we designed this based on what we would’ve wanted for ourselves. We believe the remaining 20% will cover our platform expenses, and hopefully, leave a little extra.

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How it works (short version)

After each month, a separate cashback pool is funded for each network: Polygon, Gnosis, and Base. Each pool receives 80% of the revenue generated on this specific network. This means if there’s no revenue generated on a particular network, there’s no cashback for players on that network. Players with a net loss last month are eligible. Your net loss is calculated as your total stake minus your total payouts over the last month, excluding free bets and cashouts. Your individual cashback payout is then determined by your share of the total community net loss on that network, multiplied by the cashback pool for that network. You can easily track your eligibility and statistics via your personal dashboard (live soon™). You can claim your cashback around the 10th of the month via Merkl. Please do this within 90 days after cashback is distributed, otherwise it will flow back to Layerbet to fund operations.

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How it works (detailed version)

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The Funding Mechanism

Layerbet is built on top of Azuro and operates on multiple networks, including Polygon, Gnosis, and Base, supporting transactions in USDT, xDAI, and ETH respectively. Each month, Azuro calculates Layerbet’s earned revenue share from protocol activity (e.g., a percentage of total volume or profit generated through our front-end) for each specific network. This calculated amount is then subject to the Azuro Spread Reward Cap (SRCt). Azuro payouts to Layerbet are calculated and received independently on a network level. This means that revenue generated and received on Polygon is separate from revenue generated and received on Gnosis or Base. Consequently, one network might receive an Azuro payout in a given month, while another might not. If Layerbet receives a payout from Azuro for the previous calendar month on a specific network (i.e., Azuro payout > $0 on that network), 80% of that exact network-specific Azuro payout amount is allocated to the Monthly Loss Cashback Pool for that network. This pool represents the maximum total amount of cashback that will be distributed for that network’s players in that month. If the Azuro payout toLayerbet for a particular network is $0, then the Monthly Loss Cashback Pool for that network will also be $0, and no cashback will be distributed to players on that network for that period.

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Eligibility Criteria

Only players who recorded a net loss on a specific network during the previous calendar month are eligible to receive cashback from the Monthly Loss Cashback Pool for that respective network. Net loss is calculated per network as: $Net Loss=Total Stake−Total Payouts$ Important exclusions from net loss calculation:

• Free Bets: Wagers placed using free bets are not counted towards a player’s total stake for the purpose of calculating net loss.
• Cashouts: When a bet is settled early via a “cashout” feature, the original stake and the cashout amount (whether profit or loss) are not factored into the net loss calculation for cashback purposes. Only bets that run to full settlement are considered.

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Cashback Distribution Logic

 The Monthly Loss Cashback Pool for each network is distributed proportionally among all eligible players on that network based on their individual contribution to the collective net loss on that same network.

1. Calculate Individual Net Losses (per network): For each eligible player on a given network, their Net Loss for the month on that specific network is determined (excluding free bets and cashouts).
2. Calculate Total Community Net Loss (per network): The sum of all individual Net Losses from all eligible players for the month on that same network is calculated.
3. Determine Individual Loss Share (per network): Each eligible player’s individual Net Loss is divided by the Total Community Net Loss for that network.
   $Individual Loss Share = Total Community Net Loss / Player’s Net Loss$
4. Calculate Individual Cashback Payout (per network): Each eligible player’s Individual Loss Share is then multiplied by the Monthly Loss Cashback Pool for that specific network. $Individual Cashback=Individual Loss Share×Monthly Loss Cashback Pool$ This method ensures that the entire 80% allocated pool for each network is fully distributed among losing players, with larger losses receiving a proportionally larger share.

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Payout schedule

• Calculation Period: All betting activity from the first day to the last day of a calendar month (UTC) on each respective network is considered for cashback calculations.
• Processing: Cashback amounts are calculated and processed by the 5th day of the subsequent month.

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Reward Disbursement & Claiming

• Distribution Method: Funds will be distributed via Merkl on the respective blockchain network (Polygon, Gnosis, or Base) and in the respective currency (USDT, xDAI, or ETH) where the loss was incurred and the cashback was generated.
• User Claiming Required: you need to actively claim these rewards via the Merkl platform. Detailed instructions on how to claim will be provided by Layerbet.
• Claim Period: Rewards will be claimable for a period of 90 days from the date of disbursement.
• Unclaimed Rewards: If rewards are not claimed within this 90-day period, they are automatically forfeited. Forfeited rewards stream back to Layerbet’s operational funds to support ongoing platform development and services.

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Data Verification and P&L Tracking

All underlying data and statistics related to revenue payouts, total community losses, and cashback distributions for each network can be independently verified and live-tracked via our dedicated Dune Dashboard: DASHBOARD COMING SOON

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Future Adjustments or Refinements

Layerbet aims for continuous improvement. This cashback model (V1.0) might be refined and updated over time based on various factors, including:

• Player Feedback: Input from our community is highly valued and will directly influence future iterations of the program.
• Azuro Protocol Evolution: Changes or updates within the underlying Azuro protocol may necessitate adjustments.
• Market Conditions: Adaptations may be made to ensure the program remains competitive and sustainable within the evolving decentralized betting landscape.

Any future changes to this program will be communicated clearly and transparently through official Layerbet channels and updated documentation.

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