The Smart Contract-Based Randomized Game, Funded With a Randomized ICO

Transcription

1 The Smart Contract-Based Randomized Game, Funded With a Randomized ICO

2 Content Introduction to Slot! The Game for Blockchain Purists The Case for Slot How the Slot Game Works Progressive Jackpot Chances of Winning Technical description Gas Prices Random Number SLOT Tokens Token Sale SLOT Token Sale in Brief Bonus Structure Unsold Allocations Fund allocation Token Allocation Value Proposition of SLOT Profit and Dividend Forecasts Paying Dividends to SLOT Holders Conclusion

3 Introduction to Slot! Slot is a transformative game of chance, the first ever operated entirely on the blockchain ledger and instantly verifiable on any blockchain explorer. Unlike existing casino based blockchain projects, Slot is run exclusively on a smart contract, and payouts are guaranteed and triggered every 100 contributions. Slot is an Ethereum Smart-Contract written in Solidity. It emphasizes ease of use, full decentralization, and a fair outcome with low Gas prices. Uniquely transparent, Slot is aiming to become the game of chance for every blockchain enthusiast, achieving 100% decentralization. Slot guarantees that 95% of contributions be immediately paid back out to sweepstake participants, with an instant return of 5x - 40x the 0.1 Ether contribution. As the game is played entirely on the blockchain, any player can verify every winner and their wallet address using Etherscan. A further 2.5% of all contributions go into a progressive jackpot which remains stored on the same contract as the game itself. This progressive jackpot is attached to a randomized generator and operates at odds of 999,999/1, paying out huge jackpots on the blockchain. SLOT is the token of the Slot project and 100% of the game is owned by SLOT holders. SLOT takes a 2.5% margin on every game played, the sum of which is distributed to SLOT holders every 1,000 ETH raised. Unlike comparable ICO s, Slot is already fully functioning and being played right now. Uniquely the Slot ICO is a slot game itself, with the bonus structure decided completely by chance. One ICO participant will win the ICO Jackpot and own over 7% of the entire Slot project.

4 The Game for Blockchain Purists Slot is a game developed for blockchain purists - no dressed up slot machine interface, no hidden margins, no gimmicks, just a pure game of chance on the blockchain ledger. The first ever game of chance to be operated entirely on the blockchain ledger using a smart contract, with no use of any outsourced functionality, Slot is transparent, accountable, and verifiable like no other. Slot consists of a smart contract that performs the function of accepting game plays at the price of 0.1 Ether, and pays out prizes every 100 participations, with each game viewable on any blockchain explorer in perpetuity. The Case for Slot The online gambling industry was valued at over $40bn in 2016, but has major flaws. Among the issues are the need for greater transparency, widespread corruption and waiting periods to receive winnings (when playing online). The birth and development of digital currencies, especially Bitcoin, certainly helped solve many of the issues in online gaming. The lack of transaction costs in particular allowed cryptocurrency online casinos to lower their edge while maintaining their profits. Despite this, many online cryptocurrency casinos are actually still centralized entities with the ability to manipulate odds and especially to withhold large winnings. Some projects have attempted to go further and fully decentralize the process, or at least advertised the intention of doing as such. Projects such as Edgeless, TrueFlip and Funfair have been launched with major marketing campaigns and promises of huge casinos with multiple games existing on the blockchain. To date these projects remain elusive in terms of delivery and unclear in terms of how the entirety of the game will be verifiable and on the blockchain. Slot breaks the mould by providing a fully functioning and operating game on the blockchain that needs no further development or delivery. Investors in Slot are purchasing profit-sharing rights for a functioning entity due to receive dividend payment immediately. Investors in the Slot project do not need need to concern themselves with whether the project development team will deliver a functioning concept or hit unexpected issues, as the code for the functioning game is running and verifiable on blockchain explorers already.

5 How the Slot Game Works A Slot game costs 0.1 Ether (100 Finney) a Spin. Once 100 contributions have been completed, the smart contract randomly allocates prizes to 8 of the contributors and sends it directly to the same Ethereum wallet from which the contribution arrived. Prizes are paid every 100 spins to the same prize structure listed below. The prizes are paid out instantly after the 100th contribution, upon which time the next round begins immediately. The only exception is the progressive jackpot for which there is an explanation below. 1st Prize (x1) 4 Ether 2nd Prize (x1) 2 Ether 3rd Prize (x1) 1 Ether 4th Prize (x5) 0.5 Ether Progressive Jackpot Contribution Token Holder Dividend Refund for Gas of 100th entry 0.25 Ether 0.25 Ether Ether

6 Progressive Jackpot On every transaction to the Slot smart contract, there is a 1,000,0001 chance of winning the progressive jackpot, which will average 2,500 ETH (~$900,000). As the jackpot is triggered randomly, it will sometimes be less and sometimes far more. Whereas the 10 ETH sweepstake is triggered automatically every (100 * 0.1 ETH) contributed, the progressive jackpot is triggered separately using a random number generator. The jackpot number is triggered when the random number assigned matches the jackpot number which is between 000,000 and 999,999. The jackpot is paid out instantaneously when triggered, and future contributions start building the next progressive. Each individual 0.1 entry counts as one ticket to the progressive jackpot. Chances of Winning Prize Chance of triggering 0.5 ETH 5% 1 ETH 1% 2 ETH 1% 4 ETH 1% Jackpot! 0.001% Any Prize 8.001% Token Holders Edge 2.5%

7 Technical description Users need only to send 0.1 Ether to buy one ticket. A transaction with a lower amount won't succeed. If a user sends enough for multiple tickets, he will have more entries and a bigger chance to win. If the lot is full (i.e. 100 tickets have been sold), the user's multiple tickets will be split among two games. If the amount is not enough for another ticket, he will be refunded. After 100 entries -or 10 Ether- the sweepstakes are activated and the prizes are awarded based on a single pseudorandom number, as explained below. The winning number will be the index in the participant's list by order of participation, and will receive the first prize. The second-place winner is the next to participate after him, and so forth for eight different prizes. If the end of the list has been reached, = the next winner is selected from the beginning of the list. Furthermore, every user has a chance of one in a million to win the Jackpot, which is an accumulated sum from all games. At the end of the sweepstakes, Ether is set aside for the Jackpot, for marketing and development costs, and 0.02 is given to the 100th participant to refund his Gas cost with an added bonus, as explained below. Gas Prices Gas prices depend on the number of tickets bought and wether the player is the last participant in the game. Approximately, the cost of participating is 68,000 Gas. Any extra ticket bought in a single transaction requires an extra 30,000 Gas (approximate). If the user is the last participant in a game (and activates the sweepstakes and award transfers), he needs another 130,000 Gas (approximate, which is refunded with a bonus). Furthermore, the first player ever needs to pay an extra 20,000 Gas (approximate). For this reason, we recommend all players to include 300,000 Gas or more for any transaction, since Ethereum immediately refunds any extra Gas. Random Number The winning number is based on the last block's hash. It's not technically random since it's a hash based on the block's Merkle Tree of all its transactions, yet it is unknowable at the time of participating. This is because no randomness can occur within the Blockchain, since two differing blocks with different random numbers cannot achieve consensus. Miners can influence a number by neglecting to publish a block with a certain hash, yet they would lose their miner's reward and would have to do so repeatedly until hitting their desired number. This is very difficult to achieve, highly impractical, and not worth the money.

8 SLOT Tokens SLOT tokens holders are the sole owners of the Slot game. Each of the 14,000,000 tokens that will be minted represent an equal share in all profits derived from the game. SLOT is an ERC-20 token under the Ethereum network. The tokens can be considered a digital asset representing ownership rights. The use of the Ethereum network accelerates the traceability and functionality of the SLOT token. Token Sale The Slot token sale proposition is fundamentally different to any other crowdsale in cryptocurrency history, as it operates under the same concept as the project itself - with a totally randomized return structure. Every participation in the token sale will receive a random amount of between 500 SLOT tokens and 1,000,000 SLOT tokens per Ether. The results of this are 100% random and dictated by a fully verifiable smart contract. The entire process takes place on the Ethereum network. The crowdsale begins 9th October 2017 at GMT. The crowdsale ends 8th November 2017 at GMT or after 10,000,000 SLOT tokens have been distributed.

9 SLOT Token Sale in Brief Crowdsale Starts Crowdsale ends Bonus Structure Cap Tokens distributed Tokens minted Minimum investment 9th October GMT 9th November GMT or 10,000,000 SLOT Slot! - See table below! 4,715 ETH 10,000,000 SLOT 14,000,000 SLOT 1.00 ETH SLOT per ETH 500-1,000,000 % of tokens distributed in crowdsale 71.4% % of tokens for bounty program 1.8%

10 Bonus Structure The bonus structure for SLOT is like no other, ever! Taking the form of the Slot game itself, participants must contribute a minimum of 1 ETH and in multiples of 1 ETH. Each 1 ETH is an entrance in the sweepstake ICO and worth between 500 and 1,000,000 SLOT s. One participant will receive over 7% of all SLOT tokens (1,000,000) for only 1 Ether! Number of allocations Number of slots Distribution from this allocation 1x 1,000,000 1,000,000 4x 250,000 1,000,000 10x 100,000 1,000,000 50x 20,000 1,000, x 10,000 1,000, x 4,000 1,000, x 2,000 1,000, x 1,250 1,000, x 1,000 1,000, x 500 1,000,000 Total - 4,715 10,000,000 10,000,000

11 Unsold Allocations If there are unsold allocations, the Slot team will inherit them and participate in in the crowdsale sweepstake at the same value allocations and on the same smart contract. The exception is the top 100,000 SLOT token allocation which MUST be allocated to a crowdsale participant. In the case that no crowdsale participant takes the jackpot allocation, this 1,000,000 SLOT allocation will be added to the Ether jackpot in the game proper and distributed to the same winner. Fund Allocation Marketing - 80% The most important budgetary concern, by far, is the marketing in order to ensure that the exposure of the Slot game remains high, especially in its embryonic phase, before it catches on to wide scale appeal. This marketing budget is going to be spent primarily on sites focused on the cryptocurrency community as the barrier to entry for participation is significantly lower. It is in the interests of the founders and token holders alike that this budget is used accordingly, and it is the primary reason for raising funds via the crowdsale. Slot Founders - 20% The founders of slot will receive 20% of funds raised, as we are distributing not only a concept but an already operating game. The founder fee is low considering the phase of the game and the fact it s investors are purchasing a share in an existing product. Token Allocation Crowdsale Participants - 10,000,000 SLOT (71.4%) Far more SLOT will be distributed to crowdsale participants than comparable ICO s Holding over 70% of the tokens will assure that the crowdsale participants remain the most important stakeholders in the Slot game subsequent to the sale. Founders - 3,750,000 (27.8%) Bounty program 250,000 (1.85)

12 Value Proposition of SLOT The value of SLOT, the token, is solely defined by the amount of game play of the Slot game. Every game of Slot, which consists of ETH transactions, generates 2.5 ETH of token holder revenue. Frequent game play in which a Slot game is being played every few minutes would generate very significant dividends for SLOT token holders. SLOT will be a fully exchangeable token, with its price highly linked to the game play volume. We anticipate an average 4x multiple being attributed to SLOT tokens, due to the reliability and dependability of the dividend structure. The volume of game play will be highly linked to the rolling jackpot, and we expect the amount of Slot being played to drastically increase in instances where the jackpot surpasses $1,000,000. During these instances the dividend volume will increase as multiple games are completed per minute. SLOT is the ideal token for Ether holders looking to diversify their holding into a dividend paying asset. Unlike other investments, holders of SLOT do not need to worry about potential lack of completion of the Slot project and can know their investment will vest into a dividend paying asset immediately. In particular, as the Slot game is based on Ether and the dividends are paid in Ether, the token is ideal for those wishing to continue benefiting from increase in the price of Ether, and to benefit from the Ethereum projects ongoing growth

13 Profit and Dividend Forecasts The following graphs represent the Slot team s conservative and moderate forecasts. In practice we believe in a far more aggressive forecast based on the fact the game is already functioning and the potential is for many games per hour as the game gains traction within the Ethereum community and jackpots continue to grow. Year 1 (conservative) Rounds completed per day Rounds completed total Ether Profit Ether Dividend per 1,000 SLOT Ether Dividend for ICO Jackpot winner October ,464 1, November ,400 1, December ,975 1, January ,370 2, February ,800 2, March ,500 3, April ,500 4, May ,800 6, June ,000 7, July ,000 7, August ,000 7, September ,000 7,

14 Year 1 (moderate) Rounds completed per day Rounds completed total Ether Profit Ether Profit per 1,000 SLOT Ether Profit for ICO Jackpot winner October ,750 1, November ,000 3, December ,600 4, January ,800 6, February , March ,200 9, April ,000 10, May ,600 12, June ,000 13, July ,900 14, , August ,000 15, , September ,000 15, , Paying Dividends to SLOT Holders Dividends to SLOT token holders are paid out in Ether (ETH), not in SLOT. The Ether dividends are paid out to current holders of SLOT in real time, as verified by Etherscan. This means that the moment dividends are due, the holders of SLOT are located using a blockchain explorer and the dividends are paid out according to SLOT holders instantly.

15 Conclusion The first ever game of chance operated entirely on the blockchain, Slot is transformative and groundbreaking. Gamers wishing for a quick gambling rush need no longer worry if they ll get paid out should they win, and can now gamble with 100% surety and governed 100% by smart contract. Uniquely accessible and transparent, Slot is geared towards becoming the game of chance for every blockchain purist and enthusiast. Now that we ve created this revolutionary game, we re giving the Ethereum community an opportunity to own over 70% of it. Whereas other gambling projects have made big promises, Slot is already up and running meaning any contributor knows they re buying into something already functioning and ready. No dressed up slot machine interface, no opaque odds, no hidden margins, no gimmicks; just a pure game of chance on the blockchain ledger.