Public and Private Vaults

Private Vaults

These are community-formed pools, where anyone can become a Vault Host and invite people they know into a Private Vault. The Host can determine a range of variables for each unique vault setup, some of which may affect the overall profitability or size of the prize received.
Customizable features of the Vaults include:
  • The number of players in a vault.
  • The duration for which funds will be locked up in a vault.
  • The deposit amount, and the maximum contribution cap for a player’s deposit.
While each vault created can be customized, every vault will share basic standard characteristics to ensure fair gameplay such as employing the same unbiased mechanism to decide a prize winner, no loss of deposited funds, the ability to withdraw at any time, and other technicalities.
Rand users will have access to monitored tracking of their savings and the gains from every single prize they obtain. If a member of the Vault wants to exit before the vault duration ends, they will have to pay a penalty fee. The penalty fee will be payable in Rand Tokens (RND) or its equivalent deducted from the user’s initial pool contribution. This is done to discourage early exits from Vaults, as the funds taken away will reduce the yield overall. The penalty fees will then go into the Safety Module to earn extra rewards for Rand token holders.
For example:

Public Vaults

Public Vaults, for the most part, operate in a similar fashion to private ones. The main difference is Public Vaults are hosted by Rand and the yield produced is distributed among winners chosen at random. In this case, all Rand users are eligible to join and have an opportunity to win prizes from a significantly bigger prize pool, thus having a potentially bigger reward than if they were engaging in a Private Vault.
Public Vaults will be organized regularly. As Rand has oversight of this Vault, we will also reinforce fair game play and compliance by every participant.
For example:
Sara deposits $300 in the Rand Public Vault and by the end of the week, she wins a big Tier 1 prize (circa $15K) from the $63K that have to be distributed among X number of winners.
As the product name highlights, anyone can join the Public Vault. Winners will be chosen randomly and transparently through the Chainlink Verifiable Random Function (VRF). The random generator contract will run a VRF roll to impartially decide who the prize pool winners are from all the members of the Vault. The legitimacy of the result is verifiable on-chain by third-party observers. Once the winners are determined, the contract will automatically send the winner their prize (yield/interest) accrued from the common funds plus their initial capital. The rest of the users will also be given their initial deposits back.