Author Topic: [ANN] DAO.Casino - Blockchain Protocol for the Gambling Industry  (Read 212 times)

kamvreto

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DAO.Casino is an Ethereum-based protocol for the online gambling industry that enables interactions between all parties without the need for trust. It aims to cover not just the games and user account balances, but the gambling industry value chain as a whole.

It consists of:

  • A system that is capable of providing equally unpredictable pseudorandom numbers for games open to any game developers.
  • An automated value distribution protocol that enables a P2P markets to emerge.

Smart contracts act as autonomous agents that reward all the key contributors for their work exactly how they have been programmed: game developers, referrers and operators of independent platforms necessary for the game discovery, and those that take part in PRNG.

Obtaining randomness necessary for gambling games in a deterministic virtual machine is not a trivial task, so an economic incentive layer should be introduced. Equally unpredictable random numbers that determine outcomes in each game are provided by a bankroller panel interacting with the gaming contract.

Problems with Traditional Casino Systems

The online gaming industry has a plethora of issues that directly/indirectly originates from the concentration of trust. These issues can be anything from RNG to user balance account management and developers? access to the market.

Here are some of the common problems experienced by the players:

  • After transferring the money to the game account, it is not credited or it is stolen;
  • After withdrawing the money from the deposit, it has not been credited to the card;
  • The player has not received the promised bonuses;
  • The player is not able to enter his or her game account;
  • Hidden fees: casinos charge a fee for the gain withdrawal;
  • The player can withdraw funds only on a certain day.

Why DAO.Casino Protocol?

DAO.Casino enables a sustainable working model which benefits all the associated parties in the online gambling business process. DAO.Casino can solve:

  • Risk of fraud on behalf of online casinos;
  • Inability to check the result of the draw;
  • High and hidden fees;
  • High entry level for the game developers;
  • High costs of running an online casino;
  • Operations overheads such as integrating payment systems & user account balance management.

Our Mission

The core objective behind the existence of DAO.Casino is to replace centralised casino models with a socio-economic protocol with no human intervention whatsoever. This decentralized system will achieve a fine balance between active participation and a fair economic return for those who participate.

For developers, DAO.Casino proposes to eliminate their need to rely on centralized casinos. Instead, the protocol makes it easier for these talented individuals and teams to monetise their work, raise funds, and expect bankrolling without paying heavy commissions.

For gamers, DAO.Casino is equally attractive, as it allows them to break free from rigged centralised online casinos. Traditional casinos are a black box; players cannot call their bluff easily, because the outcomes of each bet are calculated behind closed curtains. DAO.Casino, on the other hand, allows for transparency.

The protocol focuses on obtaining pseudorandomness in all the gaming outcomes by introducing an economic incentive layer. Here, the participants interact with PRNG contracts to ensure unpredictable pseudorandomness. In the beginning we expect existing licensed online casino operators to integrate with the protocol to reduce costs, while long-term new forms of regulations more suitable for decentralised, transparent and automated systems can emerge.

The long-term goal of the DAO.Casino project, apart from providing experimental software and implementing main protocol components, is to contribute to the development of new forms of online gambling certification. So far, gambling games on Ethereum remain in the gray legal area, but it doesn?t have to be so, since technologies such as Ethereum open up possibilities for far better customer protection and enable fair-by-design gambling.

Read our whitepaper https://github.com/DaoCasino/Whitepaper/blob/master/DAO.Casino%20WP.md

About the BET Token

BET is DAO.Casino?s internal token. It is used as in-game currency for all the game contracts integrated with the protocol and to power DAO.Casino reward system. In the near future, BET accounts can also be used as a reputation system and for ranking the games and the players. For example, most popular games would have more transaction history.



DAO.Casino values participation as much as it values investment, so the protocol will benefit all the parties involved in the online gambling business process. Suggested Dao.Casino reward distribution is as follows; it rewards all participants equally, however independent platform operators can choose their own reward distribution scheme (e.g. if the platform needs to incentivise more referrals but build their own games)

Game Developer: 25%
Casino Operator*: 25%
Referrer: 25%
Bankroll Backers: 25%

*Casino Operator/Platform can only be one entity. All figures are subject to change.

BET Crowdfund

The BET crowdfunding campaign is planned during Q3 2017. Dates will be announced soon.

Our Roadmap



DAO.Casino Team



Press Mentions

CoinDesk: http://www.coindesk.com/scam-free-gambling-ethereum-regulators-might-not-ready/

The Blockchain: http://www.the-blockchain.com/2017/03/14/dao-casino-decentralising-gambling-economy/

NewsBTC: http://www.newsbtc.com/2017/03/17/dao-casinos-ethereum-blockchain-based-platform-ensures-safe-secure-profitable-gaming-experience/
http://www.newsbtc.com/2017/03/06/dao-casino-decentralising-gambling-economy/
http://www.newsbtc.com/2017/03/30/dao-casino-announces-release-alpha-decentralized-casino-platform-dice-game-smart-contracts/
http://www.newsbtc.com/2017/03/16/ethereum-platform-dao-casino-announces-bounties-game-developers/
http://www.newsbtc.com/2017/05/22/dao-casino-automates-trust-online-gambling/

Eastern Daily: https://easterndaily.com/scam-free-gambling-ethereum/

Bitcoinist: https://bitcoinist.com/dao-casino-gambling-blockchain/

CoinDol: https://coinidol.com/dao-casino-announces-blockchain-decentralized-ethereum-gambling-ecosystem/

CoinTelegraph: https://cointelegraph.com/press-releases/daocasinos-whitepaper-explores-automation-of-trust-in-online-gambling
https://cointelegraph.com/news/daocasino-fair-gambling-powered-by-ethereum

Crypto Insider: https://cryptoinsider.com/dao-casino-not-play-dice-trust-automates/

Blog Index

May 31st, 2017: Breaking the Two Most Common Myths About DAO.Casino: https://medium.com/@dao.casino/breaking-the-two-most-common-myths-about-dao-casino-3cdfad4cab35

March 31st, 2017: DAO.Casino Announces Release of Alpha Decentralized Casino Platform and Dice Game on Smart contracts: https://medium.com/@dao.casino/dao-casino-announces-release-of-alpha-decentralized-casino-platform-and-dice-game-on-smart-e564a9c3c6c4

March 14th, 2017: The Difference between The DAO and DAO.Casino: https://blog.cyber.fund/the-difference-between-dao-and-the-dao-dao-casino-example-29c35574e995

March 10th, 2017: Game Devs Bounty DAO.Casino: https://hackernoon.com/game-devs-bounty-dao-casino-b88d1714a488

March 3rd, 2017 - Introduction to DAO.Casino: https://blog.cyber.fund/dao-casino-coming-out-of-stealth-mode-9a11e472c6ac

February 28th, 2017 - DAO.Casino - The Future of Gambling: https://blog.cyber.fund/dao-casino-the-future-of-gambling-d1fd883116d6

November 9th, 2016 - Dao.casino - Next generation gambling industry built on Ethereum: https://blog.cyber.fund/dao-casino-coming-out-of-stealth-mode-9a11e472c6a



kamvreto

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Re: [ANN] DAO.Casino - Blockchain Protocol for the Gambling Industry
« Reply #1 on: June 24, 2017, 12:19:28 AM »

UPDATE !!! :

DAO.Casino MVP protocol is delivered! Ethereum protocol for gambling is out!

DAO.Casino is proud to announce the release of an Minimum Viable Product (MVP) for its blockchain-based gambling protocol, which features several games.
The protocol enables cooperation between trustless parties at the gambling market like game developers, casino operators, players, and referrals.
......

details : https://medium.com/@dao.casino/dao-casino-mvp-protocol-is-delivered-ethereum-protocol-for-gambling-is-out-70a32aee7017


Prototype for Blockchain-Based Gambling Protocol Released
https://cointelegraph.com/news/prototype-for-blockchain-based-gambling-protocol-released


Dao.Casino releases their Ethereum-backed MVP for online gambling
https://calvinayre.com/2017/06/20/press-releases/dao-casino-releases-ethereum-backed-mvp-online-gambling/


DAO Casino wants to use cryptocurrency to disrupt online gambling:
https://finance.yahoo.com/news/dao-casino-wants-use-cryptocurrency-disrupt-online-gambling-153213728.html


Dao.Casino Brings Transparency to Online Gambling with Ethereum Protocol:
http://www.coinspeaker.com/2017/06/07/dao-casino-brings-transparency-online-gambling-ethereum-protocol/


DAO.casino seeks public funds in bid to break the mould of online casinos
http://www.casinopedia.org/news/innovative-online-casino-seeks-funds-from-public-to-help-launch
« Last Edit: June 24, 2017, 12:26:30 AM by kamvreto »

kamvreto

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Re: [ANN] DAO.Casino - Blockchain Protocol for the Gambling Industry
« Reply #2 on: June 26, 2017, 10:34:23 AM »
UPDATE

DAO.Casino Announces Terms of its Token Sale to be held June 29
https://medium.com/@dao.casino/dao-casino-announces-terms-of-its-token-sale-to-be-held-june-29-5125375f4aeb

On June 29th, 2017 DAO.Casino starting a token sale campaign to support further development of decentralised protocol for the gambling industry.

Even though, currently the protocol is available as an MVP, our hope is that, when deployed in its full capacity, it will be able to disrupt the entire online gambling industry, and bring about fairness, transparency and mutual profitability powered by blockchain technology.

SUMMARY

    Start: June 29th, 2017 at 1:00 pm GMT
    Ending: in 28 days or when the Maximum cap is reached
    Only ETH accepted
    No minimum cap
    Maximum cap: $25,000,000 in Ether
    Token name: BET

Price staging on Token Sale

    Day 1: 2,000 BET = 1 Ether
    Days 2?14: 1,800 BET = 1 Ether
    Days 15?17: 1,700 BET = 1 Ether
    Days 18?20: 1,600 BET = 1 Ether
    Days 21?23: 1,500 BET = 1 Ether
    Days 24?26: 1,400 BET = 1 Ether
    Days 27?28: 1,300 BET = 1 Ether

Token distribution

    70% ? Token Sale Participants
    10% ? Early Adopters & Founders
    10% ? Bounty
    10% ? Legal Entity

Intended use of revenue

    60% ? Research & Development
    20% ? Operation
    15% ? Marketing
    5% ? Legal

About the Token Sale

While preparing for the extended token sale, we have suddenly faced a somewhat pleasant, but still challenging issue.

The thing is that the demand for our tokens has dramatically exceeded the initially intended supply. In just a few days after announcing the pre-sale we?ve received orders for nearly maximum that we planned as acceptable to distribute on this stage.

This makes us confident about our project?s future, and we would like to express our deep gratitude to everyone who wants to become a part of it. We value the entire community of our supporters, and it is crucial for us to make the token available to everyone who wishes to take part.

Thus, we decided to set the token sale?s maximum cap at $25 million worth of Ether. We consider this amount sufficient to meet the demand we?re currently dealing with and to present a chance for everyone to become a part of our project.

Hopefully, the revised token sale format won?t make much of a trade-off, and will fit the desires and expectations of everyone in the DAO.Casino community.

Terms of the Token Sale

Other terms of the crowdsale campaign will remain unchanged. The protocol?s internal tokens are known as BETs, and are ERC20 tokens acting as in-game currency for all contracts integrated with the protocol.

You will be able to buy 2,000 BET tokens with 1 ETH on the first day of the campaign, and 1,800 BET tokens for the next two weeks. Then the amount of BETs available for 1 ETH will be decreasing by 100 every three days.

The campaign will start as planned, at 1:00 pm GMT on June 29th, 2017. It will completely end in 28 days or when the Maximum cap is reached.

We would like to note that founders and early adopters will have vesting. We deem this measure necessary to ensure the work on the project progresses after the token sale. The parties mentioned above will have 2 years of vesting with 6 months cliff, therefore, the BET tokens will mature by 25% every six months.

As a preparation for the token sale, the contract is currently being audited to guarantee complete security and safety.

How to Participate

Please note that contributions will be accepted only in Ether. No other cryptocurrency or fiat contributions are available. Those willing to contribute to the development of our protocol may use any Ethereum client they like (we recommend Metamask, Parity, Mist, or MyEtherWallet).

The destination address will become public on the day of the token sale?s start only on the official website. From that address smart contract will transfer your BET tokens to your wallet. For that reason, of course, you should keep your private keys safe and sound.

You are also encouraged to check if the address is correct by checking it on Ethereum block explorers such as Etherscan during the campaign.

Prohibited Actions

DO NOT send ETH from any online exchange services (Kraken, Coinbase, Poloniex, etc)

We also recommend that you have your ETH private keys encrypted. This, however, will require you to have your password when you need to decrypt them, so keep that password in a safe place.

NO THIRD PARTY would be distributing BET tokens on behalf of DAO.Casino

So if you received an email from a third party or offered BET tokens otherwise, please, beware of phishing.

DO NOT send Ether to any third party addresses

To receive BET tokens do not send any Ether to addresses other than DAO.Casino crowdfunding contract address that will be provided on the official website.

Briefly about the Protocol

DAO.Casino protocol automates value chain of the gambling industry. It will enable independent game developers to get automatically rewarded for their job when casinos take their games onboard. Unlike the current situation, the developer will retain copyright for their game.

The protocol of DAO.Casino also introduces the roles of a bankroll backer and randomness provider. Therefore, game developers won?t have to depend on casino operators, and finding a bankroll backer would be enough for them to roll out a successful product.

Casino operators, on their part, will be able to guarantee that all games held at their virtual premises are provably fair.

This will benefit all parties involved in online gambling business processes. All the contributors ? developers, bankroll backers, referrers, and casino operators acting as referrers will be automatically rewarded for their contributions without a need to trust each other, i.e. bankroll backers and referrals won?t have to trust game providers in order to cooperate.

Further details as to the protocol?s capabilities are described in our whitepaper.

As we?ve already released the MVP for the protocol, which features minimal functionality and several demo games like beta blackjack, dice, and an indie game we called ?Hack a DAO?, the product will be available in case of any outcome of the token sale.

Essential Links

Website: https://dao.casino
Prototype: https://platform.dao.casino
GitHub: https://github.com/daocasino
Email: team@dao.casino
White Paper: https://github.com/DaoCasino/Whitepaper/blob/master/DAO.Casino%20WP.md
Slack Invite: https://dao.casino/slack-invite.html
Facebook: https://www.facebook.com/Dao.casino/
Twitter: https://twitter.com/daocasino
Blog: https://medium.com/@dao.casino/
YouTube: https://www.youtube.com/channel/UCkggi9VnPJ0qUzfj7h70-pQ