Basic Concept
New to IKKA? Start here. Learn about the key concepts, mechanisms, and reward systems necessary to enjoy the game.
Last updated
New to IKKA? Start here. Learn about the key concepts, mechanisms, and reward systems necessary to enjoy the game.
Last updated
KKA is a price prediction game 🎯
In IKKA, cars with unknown prices are listed. Use your intuition or research similar cars on used car websites to estimate the price of a listed car. Once you’ve decided on what you believe to be the correct price, pay the specified amount of KARAT (our in-game token) to place your bid.
Each bidding session has a set duration, and once the bidding period ends, results are automatically calculated. Those who propose the most accurate price will receive prizes.
That’s all there is to it—simple, right?
In IKKA, multiple participants place bids on what they believe to be the correct price for a car with an unknown value. Through this process, we harness collective intelligence to determine an appropriate price. Exciting, isn’t it?
Here’s a simple explanation of how this works: In IKKA, the final price determined through the bidding process is called the Consensus Price. The calculation of the Consensus Price is very straightforward: it’s the median of all submitted bids.
The median is the value that lies exactly in the middle when all bid amounts are arranged in ascending order.
Participants who accurately guess the Consensus Price or bid prices close to it will receive awards.
There are four prize titles, each with specific conditions:
Perfect Bid Award: Awarded to the participant who bids the exact median (Consensus Price).
Golden Rim Award: Awarded to the participant with the closest bid to the median that differs from it.
Silver Rim Award: Awarded to the participant with the second closest bid to the median that differs from it.
Top Tier Award: Awarded to participants whose bids are ranked among the closest to the median (award rate varies by lot, typically 10%–20%).
Let’s talk about the tokens! To fully enjoy IKKA, it’s essential to understand the following tokens and NFTs:
To place bids in IKKA, you’ll need to pay a bid fee. The token used for this fee is called KARAT (sometimes displayed with the ticker "KRT" in the game). Here are three ways to acquire KARAT:
Purchase with USDC
Purchase with a credit card
Earn it as a reward for winning
KARAT cannot be transferred to other accounts or refunded, but it can be exchanged for gift cards in the Token Shop.
Additionally, there’s Bonus KARAT (ticker "bKRT"), which can also be used to pay bid fees. Bonus KARAT cannot be purchased; instead, it is granted as a bonus for completing tasks set by IKKA, such as daily login bonuses.
If you have both KARAT and Bonus KARAT, the bid fee will always be deducted from Bonus KARAT first.
The Honor Medal is a prestigious award given to players who accurately guess the Consensus Price. While it adds points to your leaderboard rank, it has no other utility, as it is purely an honorary prize.
A ranking is automatically generated based on the number of bids, the number of wins, and the total prize amount earned, and the leaderboard displays the positions. The rankings are calculated and updated four times a day, based on the performance from the past three months. (In other words, data older than three months is excluded from the rankings.)
Top-ranked players are recognized as having exceptional appraisal skills and will earn admiration and envy from the community.
These are the basic concepts to enjoy IKKA. Some ideas might seem a bit complex at first, but there’s no need to worry—once you start using it, you’ll find it surprisingly simple.
Here’s a small tip to help you succeed:
The Top Tier Award is often set at a probability of around 20%. This means that even random bids have a 1-in-5 chance of winning. But what happens if you bid strategically after proper research? Your chances of winning will surely increase.
If your prize frequency and the KARAT you earn outweigh the bid fees, your play tokens will continue to grow.
Now, aim for the top rank and start your IKKA journey!
