So you have received the golden ticket!
Welcome, holders of the secret access code to our beta. This is a user guide for our Devnet release of our protocol where you’ll learn about:
- Aver.Bet/Beta
- Understanding Tokenised Betting
- Picking A Market and Placing A Bet
- Opening and Closing A Bet
- Understanding your Aver Portfolio
If you have any questions or need any help, we’re easily reachable on Telegram :) Join us and hundreds of others here ➡️ https://t.me/OfficialAverBet
💡 UPDATE: You no longer need an access code to test out our beta. Just head over here: https://aver.bet/bet/
Step 1: Go to Aver.Bet/Beta
Link: https://aver.bet/beta
You’ll arrive at our home page where you can browse active markets to trade on. The “back” (betting on an event) and “lay” (betting against a bet) outcomes are listed, along with other statistics to learn more about the market.
To interact with the Aver application, you will need to connect your Solana wallet. Make sure your wallet network is in “DEVNET.” You can do this by going to Settings > Change Network > Devnet.
To complete the airdrop request simply click ‘request airdrop’, and the app will process a request to mint 1,000 base tokens (‘USDZ’, a made-up stablecoin) to your wallet, along with 1 SOL — to pay for transaction costs. To learn more about Devnet SOL and USDZ, head over to this article.
Step 2: Understanding Tokenised Betting
Base Token — The unit of currency to bet and collect winnings (likely USDC)
Bet Type — Binary, Win-Lose-Draw+, One-from-Many, Many-from-Many
Mint — Swap base tokens in exchange for outcome tokens
Redeem — Swap outcome tokens for base tokens
Resolution Date — Judgement day on whether you win or lose (i.e. market closes)
Collect — Congrats! Collect your winnings
Step 3: Picking a market and placing a bet
Once you’ve gotten use to the web app and redeemed the Devnet airdrop in your wallet, it’s time to place a bet!
To do this, you first click the “mint” button on a market of your choice and input the volume you’d like to buy. Play around with it and see the numerical changes in the metrics as you go along. Once you’re done, press “Mint Aver Tokens” to receive the tokensets of the market outcomes.
Approve the transaction on your Phantom wallet.
Nice! You made your first trade on Devnet Aver :)
4. Opening and closing a bet
You can now open a bet position (either Back or Lay). In the market titled “Aver to win prizes”, if you staked 50 USDZ, the profit on win is 22.5 USDZ! On Mainnet, the base token will be dominated in USDC or any SPL tokens (hoping to incorporate USDC, BTC, SOL, etc) and users will be rewarded with them on wins.
To initiate a back order, start by clicking on a ‘back’ cell. Input the price/odds and quantity you wish to trade. The web app will present you with a summary of the position that will result if your order is completed, as well as the inputs required (i.e. the cost of the bet in base tokens, and the transactions costs in SOL).
If you have sufficient base tokens and SOL to complete the order, the ‘BACK’ button will be enabled.
To place a lay order (i.e. bet against the event), click “Lay” and follow the steps above as well!
Step 5: Understanding Your Aver Portfolio
If you click on “Aver Wallet” in the side Menu, you’ll an overview of your token holdings.
Current Value — the sum of your open positions and base token value
Guaranteed Value — the sum of your base token value
Base Tokens — token list and wallet value of your base token holdings
Active Markets — list of current Active Markets on Aver with a display summary of your open positions
Resolved Markets — list of resolved and closed markets on Aver with a display summary of your closed positions
Caveats and warnings: Aver is very much still in iterative development stage. We are seeking early feedback from users to help us identify issues, errors and areas for improvement.
You will run into glitches and functional limitations throughout the test — please call these out if they aren’t listed on the known limitations/issues section below and imagine how thing might work once they’re resolved :)
The site will only run with Devnet, so rest assured that all transactions will only occur on with Devnet SOL and tokens.
Any and all comments and feedback are greatly appreciated.
