# SquareUp! SquareUp hosts daily contests that brings together NFTs and sports. SquareUp hosts daily sports trading contests with large prizes backed by low entry fees.\ \ Players pay an entry fee and receive a "scorecard" that can be traded freely on our customized, native marketplace at any time. Each scorecard contains a combination of random sports teams whose total scores will ultimately determine the scorecard's place on the leaderboard and prize money. 100% of the entry fees fund the prize pool, and the top scoring scorecards win.

SquareUp Labs

# What is SquareUp? High level overview of SquareUp

SquareUp's guarantees

SquareUp is a contest platform where all of the entry fees are paid out to winning holders at the end of the day. At the beginning of each SquareUp contest, users pay an entry fee and receive a unique NFT scorecard that reveals a random combination of sports\* teams that are playing during the contest interval (typically, one day). Each scorecard earns a score based on the total points scored by all of the teams on the scorecard. **Each contest has its own contract, own prize pool, and own payout structure.** At the end of each contest, the holders of scorecards with the highest scores will be declared winners and win their share of the prize pool. **SquareUp does not take a cut of entry fees. All of the entry fees paid in for each contest will fund that contest's prize pool.** SquareUp will have its very own native marketplace where users can buy, bid, and list-for-sale their NFT scorecards throughout the contest duration. This marketplace was custom built for SquareUp Contest purposes. SquareUp is the first protocol to utilize NFTs as transferable contest assets linked to real-world outcomes. \*SquareUp plans to run contests for football, baseball, basketball, hockey, and international soccer. Each sport will have its own set of contests. # Value Proposition SquareUp contests are fair, and yield positive expected value for participants.

SquareUp vs Competitors

Often, NFT collections have no inherent expected value. Users speculate on the ability of a founding team to execute a roadmap that will provide value to their jpegs. These NFT collections are backed by nothing. Every SquareUp contest, however, is backed by 100% of the entry fees. All primary mint revenue will fund that contest's prize pool. Each NFT in a given SquareUp contest has the same expected value until teams are randomly assigned. After teams are randomly assigned, the sum of all NFTs’ expected values still equals 100%. The SquareUp contest model allows people to speculate on the possibility of a high payout with a low cost of entry. The use of NFT technology allows users to capture some value of a scorecard without holding it to the end of the contest, providing an extra level of engagement rather than relying upon pure random chance. SquareUp is the first protocol to utilize NFTs as contest assets linked to real-world outcomes. Users will truly own their contest assets and proof-of-ownership will be linked to prize payouts. # Business Model SquareUp Labs will have two main verticals: the SquareUp Product and SquareUp Founders Pass, each with their own independent legal entity. Both entities will work in concert to support the other. All revenue generated from both entities will be used to further SquareUp's development. SquareUp will **never** take a cut of contest entry fees. All entry fees will fund that contest's prize pool. Instead, SquareUp will charge a 5% transaction royalty collected on secondary sales of contest assets within our native marketplace. # Product All SquareUp contests are hosted on . Once a user connects to the website using a web3 wallet, they will be able to access the SquareUp ecosystem. SquareUp is built to be EVM compatible, and will initially run on Ethereum Mainnet. SquareUp Labs may choose to expand to a Layer 2 in the future.

SquareUp flow chart

# Contests Each SquareUp Contest will have several phases from start to finish. These phases include: * Mint Phase * Game Phase * Tiebreaking, if necessary * Score verification * Prize withdrawals # Mint Phase Users pay an entry fee to mint a scorecard prior to the first game of the contest. During this period, they will receive an NFT representing entry into that particular contest and not know their teams (pre-reveal). Each ticket will later receive a **randomized combination of sports teams.** Once the first game starts or at a pre-defined time shared prior to the minting phase, minting will cease and SquareUp Labs will modify the metadata of each token minted based on the VRF selected teams assigned to each, thus swapping images for each token. The new metadata will reveal which teams were randomly assigned to each token - called the “team reveal.” The team reveal’s purpose is to ensure users are randomly assigned teams using Chainlink's VRF. Thus, attackers cannot exploit our smart contract into determining which tokens will receive what teams. # Game Phase After reveal, users will receive new meta data for their NFT consisting of their combination of teams. The leaderboard will begin updating immediately with real time score updates from a sports score API provider. Additionally, we have built a full scale native marketplace for users to filter different variables to find specific team combinations. Anyone may use the marketplace during the mint or game phase. Eventually, the leaderboard will have marketplace functionality. Users will be able to list their NFTs for sale, purchase listed NFTs, and bid on NFTs they want directly on the leaderboard. # Tiebreaking What happens if two or more scorecards are tied for the same prize? In addition to the list of teams, each scorecard will also receive a random integer between 1 and n (with n being the maximum amount of entries for that contest) that will serve as a **tie-breaking coefficient. Each ticket will have a unique tie-breaking coefficient.** In the event of a tie between two or more scorecards on the SquareUp leaderboard, each scorecard's **tie-breaking coefficient** will be used and the lower coefficient will win. A tie-breaking coefficient of 1 is the strongest and will win all tie-breaking scenarios. The tie-breaking coefficient will be easily visible on the ticket's image and meta data. **Example**: Two scorecards are tied for first place at the end of the contest. Scorecard A: Contains a tie-breaking coefficient of 4 Scorecard B: Contains a tie-breaking coefficient of 7 Scorecard A would finish in first place, Scorecard B would finish in second place. The use of a tie-breaking coefficient further gamifies the experience by slightly adjusting each scorecard's value. # Prize Withdrawals At the end of each contest, SquareUp will meticulously verify and cross-reference all final score data to ensure total accuracy. Afterwards, winners will be able to claim their prize on the SquareUp Prize Withdrawal Page. Winners must have the relevant winning asset in their wallet in order to successfully claim their prize. SquareUp Labs opted for this mechanism in lieu of direct payouts due to smart contract operational security concerns. # Entry fees SquareUp Labs will set an entry fee (also referenced as "mint fee") for each individual contest. The entry fee will vary per contest but will always be announced ahead of the Mint Phase. 100% of entry fees will go to the prize pool. SquareUp does not take a cut of any entry fee. # Contest Calendar Using the 4 major American sports, the calendar permits at least one SquareUp Contest on nearly 350 days out of the year. SquareUp will choose which days to run contests, and will always give advance notice. In order for SquareUp to run a contest, at least 8 teams (4 games) must be playing in the given contest interval. Theoretical Maximum Entries based on # of teams playing: 8 teams (4 games): 56 Combinations 10 teams (5 games): 120 Combinations 12 teams (6 games): 220 Combinations 14 teams (7 games): 2002 Combinations 16 teams (8 games): 11440 Combinations 18 teams (9 games): 48620 Combinations 20 teams (10 games): 167960 Combinations Even when 20+ teams are playing, SquareUp may choose to limit the amount of mintable scorecards in order to incentivize trading on secondary markets. # Example Contest This example runs through a random NFL Sunday where three different users participate in a SquareUp Contest. Each of the three users have different behaviors and risk tolerances and are from different demographics. # Bob, Jack, and Adam Part 1/3 of the example; The three gladiators Three hypothetical users, Bob, Jack, and Adam all sit down in their respective homes to play SquareUp. Bob’s profile: * Crypto Native * Owns several NFTs and/or participates in DeFi * Quick flipping trader * Mints degen plays, flips, and moves on Jack’s profile: * Degenerate DeFi and NFT whale * Positive expected value trader * Analytically minded * Buys with conviction and size Adam’s profile: * Normal sports enthusiast * Limited to no crypto knowledge * Created a MetaMask wallet this week just to play SquareUp * A true sports junkie; not a trader, unlikely to sell or hedge # The Contest Details Part 2/3 of the example; the nitty gritty 1000 people mint 1000 NFTs at 0.05 eth each. The total prize pool is 50 eth and prize structure is below: 1st place: 30 eth 2nd place: 15 eth 3rd place: 5 eth Each NFT contains 3 NFL teams The NFT’s total score is the combined score of all 3 NFL teams final scores for the day. There are 14 NFL games on this day 9 at 1:00 pm - “Early Games” 4 at 4:30 pm - “Afternoon Games” 1 at 8:20 pm - “Stand-Alone Night Game” # Sunday Timeline Part 3/3 of the example; a hypothetical timeline and decisions **Saturday, 9 PM EST; the night before all of the games** Bob and Adam both mint an NFT for 0.05 eth at the beginning of the day. Jack doesn’t mint, starts to monitor the market place for people listing tickets for sale at a discount to the mint price **Sunday, 1 PM EST; Mint phase ends, team reveal occurs** All nine of Bob’s teams on his ticket play in the afternoon games, meaning he does not have either team playing in the final, stand-alone, night game. All of his points will be scored before the final game of the day. Adam’s teams are mostly in the early and afternoon section, but he has both teams playing in the night game. He takes a screenshot on his phone to monitor his ticket. Jack still hasn’t bought anything **Sunday, 8 PM EST; Only one game left in the day** After the 4:30 pm games conclude, Bob is in first place. He stands to win 30 eth if his score holds up. However, he doesn’t have any more teams that can score. Bob is a little nervous he will get passed by the people behind him with either one or both of the night game teams. He lists his NFT for sale at 15 eth, hoping for a buyer. Adam hasn’t thought about SquareUp all day, but starts to check the scores of the teams he remembers on his ticket and opens up the leaderboard. Adam is in 8th place. He currently doesn’t stand to win anything, but he has both of the teams playing in the night game. Better yet, by filtering the leaderboard, one can tell that he is in first place of all the other NFTs that have both of the night game teams. He is only 50 points behind first place. **Sunday, 8:10 PM EST; 10 minutes until the final game kicks off** Jack decides now is the time to enter the fray. He looks at the leaderboard and believes Bob and Adam’s tickets have the best chance to win the contest and subsequent prize money. Jack notices the 15e sale price on Bob's ticket, thinking that's probably a fair market value. Jack decides to underbid at 10e to see if he can tempt Bob into taking profits (200x return). Jack calculates Adam’s ticket to be worth 11e, and bids 10e on Adam's ticket as well. **Sunday, 8:15 PM EST; 5 minutes until kick off** Bob starts to sweat at the offer on his hands, but there is still some time until the game. He lowers his listing to 12e hoping to get that extra profit. Jack decides 12e is a good enough price and buys Bob’s ticket because he knows he is getting a positive expected value on this NFT coming in at least 1st or 2nd place. Bob profits nearly 12e in the course of one day, and decides to take his wife out to dinner instead of watching the night game. Adam logs in, sees the offer of 10e, but decides he’d rather let it ride and keep the chance to earn a 600x return on his investment. The game starts, and Jack withdraws his bid on Adam’s NFT **Sunday, 11:30 PM EST; the final game is over** After a wild, high scoring, final game of the contest, SquareUp Labs begins to reconcile and verify final scores. Bob's original ticket ended in 2nd place. Adam's ticket ended in 1st place. Jack, who paid 12e for Bob's ticket, heads to the withdrawal page to collect his prize of 15e, registering a 3e profit. Adam, who decided to trust his gut and hang on to his ticket, is celebrating with his friends knowing that he is able to collect 30e. During the game, he kept receiving higher and higher bids telling him what he already knew: he was going to win. He connects his wallet, clicks the shiny "withdraw" button, and watches his ETH balance increase 600x in the course of an afternoon. # Features and Functions SquareUp's many parts work in tandem together to create an engaging experience. Features and functions include but are not limited to: * Contest Mint page * Leaderboard * Native Marketplace built customized for SquareUp contest purposes * Activity Feed * Score Data * Chainlink Verifiable Randomness (VRF) * Prize Withdrawal Page # Contest Mint Page Every contest will have its own unique mint page outlining the maximum possible entries, entry cost, total minted thus far, and total prize pool. There will be a link to the respective contract and a mint button for direct participation. # Leaderboard Every contest will have its own leaderboard so participants can view their scorecards' placement in real time. Participants will easily be able to see scores and components of each scorecard on the leaderboard, and their owned items will be easily visible. The leaderboard will indicate how many scorecards will win and the respective prize structure. # Native Marketplace The SquareUp native marketplace is the backbone of each SquareUp Contest. Built and secured by 0x token swap protocol, every SquareUp Contest will have its own unique marketplace page to facilitate the trading of contest assets. Buyers will be able to "buy now" and make time-sensitive bids directly on the marketplace page. Sellers will be able to list their assets for sale with time-sensitive listings and accept offers from potential buyers. SquareUp Labs urges participants to be extremely careful when listing scorecards and making offers on the marketplace. SquareUp is not responsible for accidental listings, purchases, or bids. # Activity Feed Each contest will have its very own real-time activity feed showcasing the latest secondary sales data of contest assets. # Score Data We have contracted a sports API provider to fulfill live contest score data on the SquareUp website. SquareUp Labs will meticulously verify all final scores before enabling payout withdrawals. SquareUp may choose to decentralize this verification process in the future. # Chainlink Verifiable Randomness (VRF) SquareUp Contests will be verifiably random and fair on-chain thanks to Chainlink's Verifiably Random Function (VRF). SquareUp will be utilizing VRF for the assigning of teams to each ticket. No two scorecards will be exactly the same. Each contest asset will contain a unique list of teams. This ensures fairness on team distribution and also prevents exploitation of the mint contract. # Prize Structure The prize structure for each SquareUp Contest will vary based on expected total prize pool, total entrants, and the discretion of the SquareUp Labs team. The expected prize structure of each contest will be announced prior to the Mint Phase, confirmed before the Game Phase, and be readily visible throughout the SquareUp website. # Prize Withdrawal Page At the end of each contest, winners will be able to claim their prize on the SquareUp Prize Withdrawal Page. Winners must have the relevant winning asset in their wallet in order to successfully claim their prize. SquareUp Labs opted for this mechanism in lieu of direct payouts due to smart contract operational security concerns. # SquareUp Vision SquareUp Labs sees the importance of providing value to our holders through utility and innovation. As a result, we've created a first-of-its-kind platform where sports enthusiasts and crypto traders alike can enjoy a fun, gamified experience that provides an extra level of engagement than just pure random chance. SquareUp is the first protocol to utilize NFTs as contest assets linked to real-world outcomes. We believe that users should truly own their contest assets and proof-of-ownership will be linked to prize payouts that are backed by 100% of mint funding. We will continue building our product to create a new and enjoyable use-case for NFT technology. # Legal Information SquareUp legal information ## **Rake Free Entry Fees** 100% of all entry fees are paid back out to users in the form of prizes. Since SquareUp is not taking a cut or rake of entries, our legal team believes this helps establish the protocol in a fair and legal manner. ## **Token Gated Access** Eventually, after the open beta testing concludes, SquareUp will token-gate access to all future SquareUp Mint Phases. Only those who own the SquareUp Founders Pass will be able to participate in each SquareUp Mint Phase. Users who do not own a Founder's pass will no longer be able to participate in each SquareUp mint phase, however, they will still have full access to the marketplace and be able to participate in this way. Among other things, the Founders Pass effectively will be a perpetual pre-sale access spot to all future SquareUp Contests. ## Game of Skill While the mint phase will be verifiably random and fair for all participants, skilled traders with elite analytical skills will be able to find valuable edges on secondary markets. ## Geo-fencing Certain Jurisdictions The following jurisdictions will be geo-blocked from interacting with the SquareUp front-end platform for legal regulation reasons. * United States * Costa Rica ## Terms and Conditions # FAQ SquareUps frequently asked questions **How do I get a SquareUp NFT?** You can mint a new, randomly generated SquareUp NFT straight from us during the mint window or buy a specific one from our re-sale marketplace while a contest is live. **How does my NFT get a score?** After mint, each SquareUp NFT will be assigned 9 teams that are playing on that day. The NFT's score will be the sum of all points scored by those 9 teams. **Can I pick my 9 teams?** Nope, after mint, your 9 teams are assigned at random. However... you can always search the secondary market for your desired combination and make an offer on it. **How do I win?** Holding a top-scoring NFT at the end of a contest! The amount of winning NFTs will vary based on the contest. **Can I make money without winning a contest?** Yes! You truly own your NFTs - and therefore can sell them. If your SquareUp NFT, or “scorecard”, is looking like a potential winner, but you’re done biting your nails for the night, use our marketplace to flip it for profit! **The contest is over, now what?** The winning scorecard will be able to claim a collective 100% of that contest's mint revenue! **What happens after the contest?** Another contest! As long as there are sports and/or other real life events, there will be another SquareUp contest! Each contest will have its own contract, mint window, team reveal, payouts, etc. To play in the next contest, you'll need to mint another "scorecard" or buy one for the new contest from the re-sale marketplace **What happens in the event a game gets suspended or postponed due to weather or something else?** We will take the scores of the affected teams at the time of the suspension and consider it their final score for the sake of SquareUp contests.