$DG — Decentral Games | New Casino in Decentraland
Be the house in the first decentralized, Metaverse (VR) Casino.
January 2021. The whole world is in lockdown due to the coronavirus. Everyone is hooked on their desktops, laptops, and smartphones looking for entertainment in their digital lives. Our technology is advanced but a leap into the next generation of tech is yet to be made. Someone would expect AI robots, Augmented Reality (AR), and Virtual Reality (VR) would be dominant in our lives but we’re still using improved versions of last decade’s innovations.
Decentral Games is here to change that. Based on Decentraland, a VR blockchain/crypto platform, it has created a virtual casino residing in the heart of $MANA’s metaverse. Players can jump into this digital world, play games, and interact with each other through voice chat. The games available at launch are Blackjack, Roulette, Slots, and Backgammon. Multiplayer Poker will be added in the future.
Have you ever dreamt of owning a casino? Or have you ever dreamt of a decentralized, community-owned casino where players & investors earn the house profits instead of a centralized entity? This is the vision that’s being realized by this team.
A casino with non-custodial, provably fair games. Gasless (thanks to Matic) and signatureless games, playable with $MANA and $DAI within Decentraland’s virtual world.
What is Decentral Games?
Decentral Games is a community-owned metaverse casino ecosystem powered by the $DG token. Players earn $DG for playing games, LPs earn $DG for providing liquidity, and active governors earn $DG by allocating house profits. The two tokens that can be used to play the games are $MANA and $DAI.
The Decentral Games ecosystem revolves around a community-governed treasury and a $DG distribution method to grant a stake in the network to individuals who use it (players) and provide a service to it (LPs and active governors). $DG will be used to govern the house funds’ smart contract, dgTreasury.
The dgTreasury accrues game revenue and pays out jackpots to players in MANA and DAI. $DG holders staked in the governance contract may vote on how to allocate the treasury funds and/or buyback $DG from the liquidity pools.
Investment / Backing
Decentral Games raised over $400,000 in investments and grants with participation from Metaverse Ventures [a Digital Currency Group company (DCG, parent company of Grayscale) focused on virtual world investments], the Decentraland Foundation, the Matic Foundation, and other strategic partners.
“We invest in projects that are growing Decentraland’s ecosystem with top-quality applications. Decentral Games offers players both the novelty of avatars gambling in a virtual world and the great user experience that gamers demand. We’re excited to back Scott, Miles and team as they continue to bring the massive opportunity in blockchain-enabled gaming to life.”
– Casey Taylor, VP of Development at Digital Currency Group.
There are 2 ways to earn the $DG token:
1. Play-to-mine $DG
Gameplay mining rewards players with $DG for playing games with MANA or DAI, and is designed to jumpstart the ecosystem. There are bonuses when playing multiplayer games, when referring someone or when wearing certain NFTs that give bonuses.
[Gameplay mining example: The play-to-mine rate is 1 DG for every 200 DAI wagered and the affiliate bonus is 10%. If Alice wagers 1,200 DAI and Bob (who Alice referred) wagers 1,000 DAI, then: Alice mines 6 + .5 = 6.5 DG Bob mines 5 DG]
2. Liquidity Farming
Liquidity farming rewards LPs with $DG for providing liquidity in 98/2 MANA/DG and DAI/DG Balancer pools to enable a healthy market for $DG trading.
Steps to farm $DG:
- Hold $MANA or $DAI in your Metamask wallet
- Select Pool 1 or Pool 2.
Pool 1: 98% MANA — 2% DG
Pool 2: 98% DAI — 2% DG
3. Select “Add liquidity” in the top right, and fill in the amount you wish to deposit.
Depending on if you are a first time user of Balancer or not, you may have to sign up to 4 transactions: 1)setup proxy, 2) MANA or DAI authorization, 3) $DG authorization, 4) add liquidity to pool.
Once you add liquidity in the pool, you will receive balancer pool tokens (BPTs), and now you are ready to stake them to start farming $DG.
4. Go to the $DG Liquidity Farming Dashboard and connect your wallet.
Enter a BPT amount you wish to stake, and select “Stake BPT” on the pool that you provided liquidity to, and sign the transaction.
Once on the liquidity farming tab, select “Stake BPT” on the pool for which you have BPTs.
After completing these steps you’re now farming!
As you accrue farming revenue in $DG, you may claim rewards by clicking the “Claim $DG” button on the left and signing the transaction. You may also withdraw your BPT from the farming pool at any time to go retrieve your funds on balancer.finance.
Tokenomics
1 million $DG have been minted and locked at genesis. The tokens will become accessible over the next 6 years:
- 62% [620,000 DG] to decentral.games community
- 20% [200,000 DG] to the team — 3 years vesting
- 18% [180,000 DG] to investors — 2 years vesting
Personal Thoughts
A new age of VR crypto games is upon us as the global online gambling market is growing in size every year, expected to reach USD 127.3 billion by 2027. I think that Decentral Games can bring tremendous value to the VR and crypto gambling space, offering multiplayer games in a 3D world of avatars, voice chat, and virtual casinos. Up until now, most crypto gambling websites are using games like Dice, Keno, and Slots but what they’re missing is the interaction between the players and a Web3 updated economy where everything is seamless and interconnected.
With such a big backing by guys like Barry Silbert and Digital Currency Group, I believe that Decentral Games will be successful, offering a truly decentralized casino where players can be the house, govern, and profit from it.
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Decentral Games Links
Website: https://decentral.games
Twitter: https://twitter.com/decentralgames
