404 Journey: Chapter 3
Chapter 3: Supporting the Front Lines — $FRENS Team Battle
Event Date: 4/1 — TBA
After the build-up of the first two chapters, the most exciting Chapter 3 officially begins! It is also the core chapter of the entire 404 Journey. Lootizens will experience the fundamental logic of ERC-404 in Chapter 3 and utilize the resources accumulated from the previous phases to devise the best strategy for securing victory for their team, ultimately sharing a massive $MNT prize pool!
Note: 404 Journey Event is exclusively available to Non-U.S. Citizens
The 65,000 $MNT will be shared among all Lootizens participating in the journey. The amount of rewards may vary based on the time, effort, and strategies of each participant. Give it your all to earn as much reward as possible!
How to Participate in Chapter 3?
To take part in the activities of Chapter 3, you first need to ensure you have been assigned to a team (if you already belong to a team, you can skip to the next section).
⚠ Notice:
1. Accounts not assigned to a team will not earn any scores from transactions, and scores cannot be retroactively added after joining a team.
2. Accounts not assigned to a team will not be eligible for any $MNT rewards at the time of settlement.
How to Join a Team?
- Go to the 404 Journey event page and click on “My Team” on Lootex.
- Meet the following qualifications:
a. Your personal account must be linked to at least one social media account (Twitter / Discord / Steam).
b. Your account must have completed at least 2 transactions (either buy or sell).
c. Your account must hold at least 3 Smart Frens.
3. Once qualified, click on “LFG!” and the system will automatically assign you to a team.
Supporting the Front Lines — $FRENS Team Battle’s Rule
- After 3/22, each transaction of Smart Frens and $FRENS Item, both the buyer and the seller will earn scores. The scores earned will be calculated differently due to item boosts. Please refer to the information below 👇
- Scoring Formula (All times are in GMT+8)
Score = Volume Score * Item Boost
Definition of Terms:
- Volume Score = Smart Frens NFT transaction volume + $FRENS item NFT transaction volume.
Note that the scores for buying transactions are greater than selling, and trading Smart Frens NFT still has a rarity bonus, sorted as “Epic > Rare > Common”. - Item Scores = Correct Item Holding Rate * Number of Correct Items.
- Correct Item Holding Rate = Number of Correct Items / Total Number of Held Items.
Item Boost is Critical!
How Item Boost is Calculated:
“Item Scores” of all contestants are used for ranking to produce a percentile rank (PR) list.
Based on the below percentile rank (PR) value boost list, the Item Boost multiplier for each contestant is determined.
PR value boost list
Score Example
Here’s an example with two users, each having a transaction volume of 100. Smart Guy actively buys items from his own team and sells items not from his team, while Silly Guy doesn’t specifically trade and holds many items not from his team, resulting in a significant difference in their final scores.
Note: The team leaderboard is expected to go live on April 8th.
Example 1 — Smart Guy
As shown in the image:
Smart Guy is assigned to the purple team (Freedom).
He owns a total of 100 $FRENS Items (Hold Amount), 90 of which are items from his own purple team (Team Hold).
Therefore, his Item Score is calculated as follows:
Correct Item Holding Rate (90/100) * 90 (Number of Correct Items) = 81.
An Item Score of 81 ranks between 65 ~ 94 among all participants, so according to the PR list provided above, the Item Boost is 2.5x.
Score = Volume Score 100 * Item Boost 2.5 👉 Results in a total of 250 scores.
Example 2 — Silly Guy
Silly Guy is also assigned to the purple team (Freedom).
He owns a total of 100 $FRENS Items (Hold Amount), but only 5 of them are from his own team (Team Hold).
Therefore, his Item Score is calculated as follows: Correct Item Holding Rate (5/100) * 5 (Number of Correct Items) = 0.25.
An Item Score of 0.25 ranks between 1 ~ 4 among all participants, so according to the PR list provided above, the Item Boost is 0.1x (which will significantly reduce the score).
Score = Transaction Volume (Volume Score) 100 * Item Boost 0.1 👉 Results in a total of 10 scores.
From these two examples, we hope all participants can understand our scoring system and use it to strategize and make smart decisions!
⚠ Warning
Wash trading and self-dealing to manipulate points are strictly prohibited.
If suspicious activity is detected by the system, after review, we will reset all scores for the involved account to zero, and it will not receive any $MNT reward!!!
Head over to Lootex now to trade and allocate your items!
🔥 https://go.lootex.io/5nvla7 🔥
About Lootex
Lootex is a player-centric, cross-chain NFT trading platform that shares the latest blockchain game info. It is devoted to building a gamer-centric game asset marketplace where anyone can easily browse and trade game assets across multiple blockchains.
