# Business Model

WOX Raffles: In order to participate in WOX Raffles, buyers need to make a purchase with their preferred cryptocurrency. The platform charges a 5% fee on the total ticket value of the raffle, which is used to pay for the business operations (and later will be splitted with token stakers). If the raffle does not reach the minimum ticket quota, the full ticket value is refunded to all participants. During alpha period our fee will have 50% discount, bringing it down to 2.5% of total ticket value.

WOX Bets: To place a bet on WOX Bets, users need to buy in with their preferred cryptocurrency. The platform charges a 4% fee on the total betting pool, which is used to pay for the business operations. If there is a dispute, an arbitration system is available to settle it by agreement in a fair manner. Users who participate in the arbitration process as arbitrators will receive WOX Points as compensation for their involvement, and may share some of the profits.

WOX Lotteries: To participate in WOX Lotteries, users need to buy one or multiple tickets with their preferred cryptocurrency. The platform charges a 1% fee on the total ticket value of the lottery, which is used to pay for the business operations. If the lottery does not reach the minimum ticket requirement, the full ticket value is refunded to all participants. The prize pool is the sum of all ticket values sold.

WOX Insurance: All raffle ticket purchases also include a 10% additional fee for insurance purposes. If there are no claims, the WOX team will keep a 3 months moving average liquidity for future claims. In case of any excess it will be taken out of the pool and used to pay for the business operations (and later will also be shared with token stakers).

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