Backers are the liquidity providers who fund BeatPot's prize pool. By depositing WHYPE, you earn a share of ticket fees while supporting the raffle ecosystem.
What is a Backer?
A backer is someone who deposits WHYPE into the BeatPot vault. Your deposit:
Funds the prize pool for player winnings
Earns you approximately 10% of all ticket fees
Is represented by BPLPT shares (BeatPot Liquidity Provider Token)
How It Works
When you deposit WHYPE, you receive BPLPT shares representing your portion of the vault. The value of these shares changes based on raffle outcomes:
When the house wins (no player wins): Your shares increase in value because player entries flow into the vault
When a player wins: Your shares decrease in value because the prize is paid from the vault
Over time, the fee income from ticket sales is designed to offset player wins and generate returns for backers.
Understanding share value
Think of it like owning a percentage of a pool. If the pool grows (from fees and house wins), your percentage is worth more. If the pool shrinks (from paying out winners), your percentage is worth less.
The exchange rate between WHYPE and BPLPT reflects this—it goes up when the vault profits and down when it pays out prizes.
Step-by-Step Guide
1
Connect Your Wallet
Visit the BeatPot app and connect your wallet to HyperEVM.
2
Navigate to the Backer Section
Find the "Provide Liquidity" or "Backer" section in the app.
3
Approve WHYPE (first time only)
If this is your first deposit, approve BeatPot to use your WHYPE tokens.
4
Deposit WHYPE
Follow the deposit steps to receive BPLPT shares.
1
Enter amount
Enter the amount of WHYPE you want to deposit.
2
Review exchange rate and shares
Review the current exchange rate and shares you'll receive.
3
Confirm transaction
Confirm the transaction in your wallet.
4
Receive BPLPT
Receive BPLPT shares in your wallet.
5
Track Your Position
After depositing, you can:
View your BPLPT balance
Check the current exchange rate
See your estimated WHYPE value
Monitor vault performance
Withdrawing Your Funds
Important: Withdrawals are not instant. You must request a withdrawal and wait for the current round to end before claiming.
How the Withdrawal Queue Works
1
Request Withdrawal
Submit a withdrawal request for some or all of your BPLPT shares.
2
Wait for Round End
Your request is queued until the current round completes.
3
Claim Your WHYPE
After the round ends, claim your WHYPE based on the final exchange rate.
This process ensures fair treatment of all backers and prevents withdrawal front-running before winner selection.
Withdrawal Steps
1
Go to withdrawal section
Go to the withdrawal section in the app.
2
Enter shares to withdraw
Enter how many BPLPT shares to withdraw.
3
Confirm request
Confirm the withdrawal request.
4
Wait for round end
Wait for the current round to end.
5
Claim WHYPE
Return to claim your WHYPE after the round completes.
Why the withdrawal delay?
The delay protects all backers from unfair behavior. Without it, someone could:
Deposit right before a likely house win
Withdraw right before a likely player win
By requiring withdrawals to process after the round ends, everyone shares equally in the outcome.
Earnings
As a backer, you earn from:
Ticket fees: Approximately 10% of every ticket sold goes to backers proportional to their share of the vault
House wins: When no player wins, their entry amounts stay in the vault
Your earnings compound automatically—they're reflected in the increasing exchange rate of your BPLPT shares.
Risks
Providing liquidity carries risks. Please read the Risks page to understand:
Exchange rate can decrease if players win large prizes
