How Sigmanero works
In Sigmanero you bet against other users with Monero
All funds are placed in multisig wallets. Sigmanero is not able to move funds without an extra key signature from one of the users
A new 2/3 monero multisig wallet is created for each new bet
Multisig generation is automatic in the browser, no need for CLI commands
The user's own multisig wallet seed key is only visible to the user in the browser. Never stored and never shared with Sigmanero
Users can place bet offers for specific amounts and odds. Other users can see and accept bet offers
A
places bet for 1 XMR @ 2.0 odd
B
accepts bet terms
Once two users agree a new bet, a new multisig wallet is generated between A, B and Sigmanero
A
1 key
Sigmanero
1 key
new 2/3 multisig
B
1 key
Both users fund the new multisig with their individual bet amounts
A
sends 1 XMR to subaddress A
--->
multisig
funded by both users before timeout
waits for 2 XMR
1 XMR in subaddress A
1 XMR in subaddress B
B
sends 1 XMR to subaddress B
<---
After the event is resolved, Sigmanero creates a new transfer from the multisig to be signed by the winner A or B
Sigmanero
Creates new transfer for the winner to sign
--->
multisig transfer
includes simultaneously:
transfer of XMR 1.98 to the winner
optional and voluntary donation of XMR 0.02 fee to Sigmanero
winner A or B
receives multisig transfer
& signs transfer with private seed key
After the winner signs the multisig tranfer, Sigmanero sings and broadcasts the transfer
multisig transfer
signed by winner A or B
--->
Sigmanero
signs transfer with final key
--->
multisig transfer
transfer is broadcast to blockchain
END
1) Select an event
2) Accept a bet or create a new bet. This will generate a new multisig wallet
3) SAVE YOUR PRIVATE SEED KEY FROM YOUR NEW MULTISIG WALLET
4) Fund the new multisig wallet with the bet amount before the timeout
5) Wait for the event to resolve
6) Claim your funds with your private seed key (if you win of course)
WITHOUT YOUR PRIVATE SEED KEY YOU CANNOT RECLAIM YOUR FUNDS AND PROFITS
You are betting against other users in the website
Your account will be blocked for 1 hour
If the opposite counterparty user made a transfer into the multisig, we will ask the counterparty user to sign a refund of the funds
We hope for users to follow through with their bet commitments. If users overwhelmingly follow through commitments we can dispense with introducing bounties
No. When you place a bet offer or accept a bet offer, you and the other user need to have your web-browsers open on the page of the bet to be able to complete the multisig generation
For the user making the bet offer this might imply waiting some time with the browser window open until someone accepts the bet
The multisig generation is a parallel process that needs both users to be synchronized
After the multisig is generated, your private seed key is displayed only once, at which point you need to save it in a secure location
If one user drops during the multisig generation, the bet is canceled. However, if you have too many multisig generation fails, we will temporarily suspend your account
No. At no point in time will Sigmanero have control of betting funds due to the 2/3 multisig set up
Sigmanero will have 1 key and each user will have 1 key each
In order to move funds out the multisig wallet at least 2 keys are necessary
No. Your private seed key is never seen or shared with Sigmanero
All seed creations and transfer signatures are done locally in your browser
For convenience only and entirely optional, you have the option to encrypt your seed key locally in your browser with a password of your choosing. If you lose this password it cannot be recovered. This encrypted seed is then sent to the server and stored with Sigmanero, but not your actual unencrypted seed. This method is much less secure. We only offer it because funds are in multisigs for a short period of time until the winner is known. Bear in mind that you should always save your seed key independently as a safeguard.
You can choose to make your offer private when creating a new bet
Only people with whom you share the offer link will be able to see and accept the bet, as opposed to a random user in Sigmanero
This option is ideal for bets among people that know each other
No fees
If you win, we only ask you for a voluntary donation of 1% to keep the site running
If you are due a refund for any reason you will receive back your bet amount minus transfer fees. Typical transfer fees are xmr ~0.0002
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