Terms and Conditions

1. Preamble

Venki Contest - Terms and Conditions

1.1 The "Venki Contest" (hereinafter referred to as the "Contest") is a recurrent lottery event accessible to all individuals worldwide possessing a cryptocurrency wallet. The Contest revolves around the prediction of cryptocurrency price and operates through a decentralized smart contract mechanism to ensure fairness and transparency

1.2 By engaging in the Contest, participants expressly acknowledge and adhere to the stipulations outlined herein.

2. Participation

2.1 Participation in the Contest necessitates participants to forecast the price of Bitcoin at 12:00 noon Eastern Standard Time (EST) on Fridays of the respective week. Predictions are permissible from 12:00 noon EST on Sundays until 12:00 noon EST on Wednesdays preceding the relevant Friday.

2.2 Entry into the Contest requires a payment of 0.00165 Ethereum (ETH) per prediction (equivalent to approximately 5 USD). Participants are permitted to enter the Contest multiple times.

2.2 Entry into the Contest requires a payment of 0.00165 Ethereum (ETH) per prediction (equivalent to approximately 5 USD). Participants are permitted to enter the Contest multiple times.

2.3 Payment for participation shall be made in Ethereum (ETH) through the Base network.

3. Awards

3.1 The grand prize for each weekly iteration of the Contest is 1 Bitcoin (BTC). To attain the grand prize, participants must accurately forecast the Bitcoin price to the nearest cent

3.2 In the event of multiple participants achieving an exact prediction to the nearest cent, the grand prize shall be equally distributed amongst said participants.

3.3 The grand prize is redeemable through one of two modalities:

- Twenty-four (24) Month Staggered Payment: Venki disburses the 1 BTC sum in eight (8) installments over a span of twenty-four (24) months, with the initial installment disbursed within ninety (90) days subsequent to the Contest's completion.

- Immediate Disbursement: Venki disburses the entire prize pool, comprising revenue generated from all Contest ticket sales, within thirty (30) days following the Contest's cessation.

3.4 In the event of no recipient emerging for the grand prize, a secondary reward of 1 Ethereum (ETH) shall be awarded to the participant with the most precise forecast. Should the aggregate prize pool, constituted by contributions from all participants, fall below 1 Ethereum (ETH), the winner shall receive the prize pool in its entirety. This remuneration is to be disbursed in full to the winning participant within thirty (30) days from the Contest's conclusion.

4. General Provisions

4.1 Venki retains the prerogative to annul, terminate, or amend the Contest, without incurring liability towards participants.

4.2 Venki assumes no liability for any technical disruptions, breakdowns, or impediments, nor for any typographical inaccuracies present in any materials associated with the Contest.

4.2 Venki assumes no liability for any technical disruptions, breakdowns, or impediments, nor for any typographical inaccuracies present in any materials associated with the Contest.

4.3 Participants consent to absolve and indemnify Venki, its affiliates, partners, and personnel from any and all accountability, claims, or litigation of any nature stemming from their involvement in the Contest.

By partaking in the Venki Contest, participants express full acknowledgment and acceptance of these terms and conditions in their entirety.