About Magma

Magma is the first ever decentralized esports prediction market on blockchain.

Magma = transparency + instant payouts + fair bets.

Why Magma

• The rise of blockchain: Blockchain came to prominence through its role in cryptocurrencies, but its use has now broadened beyond cryptocurrency transaction data.
• No ID required: The only thing the user needs to bet - a wallet.
• Instant payouts: Withdraw money as soon as you get a win
• Transparency: Magma is based on decentralized Azuro protocol.

Four steps to start betting

• 1. Install and connect to Metamask
• 2. Get xDai
• 3. Make a bet on a chosen event
• 4. Redeem the winning

How to setup Metamask

MetaMask is a browser extension that allows you to interact with Ethereum dapps inside of Chrome, Brave, Firefox or Opera.

In order to set up Metamask you first have to go to MetaMask.io and click the “Download” button, which will take you to the relevant store to download the extension or app based on the device and browser you’re using.

Once you’ve installed MetaMask, you’ll see the small fox icon at the top right of your screen, and a notification will appear, letting you know that the install was successful.

You'll be guided to watch a short video on how to secure your Metamask wallet, which involves writing down and storing a secret recovery phrase. Do not, under any circumstances, give out your recovery phrase to anyone. You should also keep a copy of your recovery phrase, but put it somewhere safe. If your computer crashes, and you don't have your recovery phrase, you won't be able to access your Metamask wallet.

Connecting to Magma

Click “Connect”, and select the MetaMask option. Then switch to Gnosis network if it's not connected yet. Start betting.

Getting xDai

Magma is based on Azuro Protocol which is currently running on Gnosis Chain and uses xDAI as the native token.

In order to obtain xDai go to CoinMarketCap and search for xDAI. Tap on the button labeled “Market” near the price chart. In this view, you will see a complete list of places you can purchase xDAI as well as the currencies you can use to obtain it. Under “Pairs” you'll see the shorthand for xDAI, xDAI, plus a second currency. The second currency is what you can use to purchase xDAI. If you'd like to purchase xDAI with the U.S. Dollar, look for xDAI/USD. Make the purchase on your chosen platform.

How to place a bet on Magma

• 1. Navigate to your desired game on the menu
• 2. Select the outcome
  
• 3. Enter your bet amount and click “Place bet”
  
• 4. Сonfirm the transaction within MetaMask
• 5. Find your bets under the “My bets” section in the profile menu
  

Types of bet states

Pending - pending or open bets that have not yet been resulted

Unredeemed - the bets that won and can be redeemed

Cancelled - technical error or a game cancellation, bet can be redeemed

Redeeming bets

To redeem winnings click on “My bets”, find the successful bet under the “Unredeemed” section and then click on “Redeem”.