PureGold Documentation

Everything you need to know about predicting precious metals prices

Table of Contents
1. What is PureGold?2. How It Works3. Round Lifecycle4. Placing Bets5. Payouts & Rewards6. The $PURE Token7. Fees & Rake System8. Price Oracle (Pyth Network)9. Risks & Disclaimers
1. What is PureGold?

PureGold is a decentralized prediction market built on Solana that allows users to bet on the price movements of precious metals—specifically Gold (XAU) and Silver (XAG).

Unlike traditional trading platforms, PureGold operates on a pari-mutuel betting model where all participants bet into a shared pool, and winners split the pot proportionally after fees.

Key Features:

  • 5-minute prediction rounds for fast-paced action
  • Binary outcomes: UP or DOWN price movement
  • Powered by Pyth Network's real-time oracle data
  • Non-custodial: bets are held in on-chain program vaults
  • Native $PURE token with rewards and cashback
2. How It Works

PureGold runs continuous 5-minute betting rounds for each metal (Gold and Silver). Here's the basic flow:

  1. Round Opens: A new round is created every 5 minutes. You can place bets predicting whether the metal's price will go UP or DOWN.
  2. Betting Period: During the first ~4.5 minutes, you can enter the round by depositing $PURE tokens and choosing your side (UP/DOWN).
  3. Round Locks: At the round boundary (e.g., 12:05:00), betting closes and the "lock price" is recorded from the Pyth oracle.
  4. Round Settles: At the end of the 5-minute period (e.g., 12:10:00), the "end price" is recorded and the winning side is determined.
  5. Claim Winnings: If you bet on the winning side, you can claim your share of the total pool (minus platform fees).

Example: If the lock price is $2,000 and the end price is $2,005, the UP side wins. All UP bettors split the entire pool proportionally based on their bet size.

3. Round Lifecycle

Each round progresses through four possible states:

📝 Created (Status 0)

Round is open for betting. Users can place UP or DOWN bets with $PURE tokens.

🔒 Locked (Status 1)

Betting is closed. Lock price has been recorded. Awaiting settlement at the end of the round.

✅ Settled (Status 2)

Round is complete. Winning side has been determined. Winners can claim their payouts.

❌ Voided (Status 3)

Round was cancelled due to insufficient liquidity, one-sided betting, or oracle issues. All bets are refunded.

Voiding Conditions:

  • One side (UP or DOWN) has zero total bets
  • Total pool is below minimum threshold
  • Oracle price data is stale or unavailable

When voided, all participants get full refunds.

4. Placing Bets

To participate in a round:

  1. Connect Your Wallet: Use a Solana-compatible wallet (Phantom, Solflare, etc.)
  2. Acquire $PURE Tokens: You'll need $PURE in your wallet to place bets (future updates may allow SOL swaps)
  3. Choose Your Metal: Select Gold (XAU) or Silver (XAG)
  4. Choose Your Direction: Will the price go UP or DOWN in the next 5 minutes?
  5. Enter Amount: Specify how much $PURE you want to bet
  6. Confirm Transaction: Approve the transaction in your wallet

⚠️ Important Timing Notes:

  • Rounds align to 5-minute intervals (e.g., 12:00, 12:05, 12:10)
  • There's a "close buffer" before lock time (typically 30 seconds) when betting closes
  • Make sure to enter before the buffer period to avoid transaction failures
5. Payouts & Rewards

Payout Calculation

PureGold uses a pari-mutuel model. Your payout depends on:

  • Your bet amount
  • Total pool on your side (winning side)
  • Total pool on the losing side
  • Platform rake (fee)

Formula:

Your Payout = (Your Bet / Total Winning Side) × (Total Pool - Rake)

Example:
UP Pool: 1,000 $PURE (your bet: 100 $PURE)
DOWN Pool: 500 $PURE
Total Pool: 1,500 $PURE
Rake (2%): 30 $PURE
Payout Pool: 1,470 $PURE

Your Share: (100 / 1,000) × 1,470 = 147 $PURE
Profit: 47 $PURE

Bonus Rewards

When betting with $PURE, you're eligible for additional rewards from the platform's rewards vault:

  • Winner Bonuses: Extra $PURE tokens distributed to winners (capped per round)
  • Cashback for Losers: Partial refund even if you lose, reducing your losses

Note: Bonus amounts depend on the rewards vault balance and are subject to per-round caps.

6. The $PURE Token

$PURE is the native utility token of the PureGold platform. It serves multiple purposes:

💰 Primary Betting Currency

All bets on PureGold are placed using $PURE tokens.

🎁 Rewards & Incentives

$PURE bettors receive bonus rewards and cashback that non-PURE users don't get.

💸 Reduced Fees

Users betting with $PURE pay lower rake compared to those using other tokens (future feature).

How to Get $PURE:

  • Purchase on Solana DEXs (Raydium, Jupiter, etc.)
  • Provide liquidity to $PURE pools (when available)
  • Earn through platform rewards
7. Fees & Rake System

PureGold charges a small percentage fee (rake) on each round to sustain platform operations and the rewards vault.

Fee Tiers:

$PURE Token Bets:~2%
Other Tokens (Future):~5%

The exact rake percentage is set in the GlobalConfig and can be adjusted by platform governance. Each entry records the rake at the time of betting, so fee changes don't affect existing bets.

Where Do Fees Go?

  • Treasury: Platform development, operations, and ecosystem growth
  • Rewards Vault: Funded to provide bonuses and cashback to $PURE users
8. Price Oracle (Pyth Network)

PureGold relies on the Pyth Network, a high-frequency oracle providing real-time price data for precious metals and other assets.

How It Works:

  • At lock time, the program reads multiple price samples from Pyth
  • A median price is calculated to filter out outliers and jitter
  • The same process occurs at settlement time
  • The winning side is determined by comparing lock price to end price

Oracle Safety:

If Pyth price data becomes stale or unavailable, the round is automatically voided to protect users. All bets are refunded in full.

Pyth Network sources price data from 90+ first-party publishers including major exchanges and market makers, ensuring accuracy and reliability.

9. Risks & Disclaimers

⚠️ Please Read Carefully:

  • High Risk: Prediction markets are highly speculative. You can lose your entire bet amount.
  • No Guaranteed Returns: Past performance does not indicate future results.
  • Smart Contract Risk: While audited, all smart contracts carry inherent risks including bugs and exploits.
  • Oracle Dependency: Platform relies on Pyth Network's price feeds. Oracle failures could impact rounds.
  • Market Volatility: Precious metals prices can be highly volatile, especially in short timeframes.
  • Regulatory Risk: Prediction markets may be subject to regulatory restrictions in certain jurisdictions.
  • Beta Software: PureGold is in active development. Use at your own risk.

Not Financial Advice:

Nothing on this platform constitutes financial, investment, legal, or tax advice. Always do your own research and consult with qualified professionals before making financial decisions.

Responsible Betting:

Only bet what you can afford to lose. If you feel you have a gambling problem, please seek help from professional organizations.

Last updated: January 2025

For technical questions or support, visit our community channels.