IQeon possesses the inbuilt mechanism to organize cybersport tournaments. The games to compete on could be not only the ones, presented at the platform but any other games featuring the competitive nature. For these games, the important condition is to track the tournament results with the help of one of the supported APIs (Steam, Origin, Uplay, Battle.net, etc.).
1. IQeon web portal provides the opportunity for anyone to start their very own cybersport tournament. The data you are expected to provide is the name of the tournament, game, deadline, participation fee, tournament format, amount of participants and the way the prize pool will be distributed.
2. The news about the coming tournament is placed in a special section of IQeon web-portal and anyone who wants to participate should register. It’s important for the participants to provide their ID to track the results of the match and also the address of their cryptowallet.
3. When everything for the tournament is ready and the needed amount of participants registered, IQeon API creates a smart contract specifying the details of the tournament and publishes it in the Ethereum network. The address of the freshly mint smart contract is reflected in the personal accounts of the participants. Now, they can pay the participation fee. 95% of the entire sum gathered makes the prize pool. The other 5% is the IQeon platform commission. The commission taken covers the Ethereum transaction payments and mediator rewards.
IQeon inbuilt mechanism includes the cryptowallet option, Ethereum network-based nature, and smart contracts. The combination of these means facilitates the tracking of tournament results and makes the winnings distribution as transparent as it could be. The winners receive payments automatically upon the completion the tournament.
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