Litepaper
SolcasinoVersion 1.0
Table of contents
Introduction
Solcasino.io is the top licensed casino on the Solana blockchain, offering multichain features. We are consistently ranked among the top 5 most used dApps on Solana according to Dapparadar.
In this lite paper we will share details about our platform, our NFT collection, and the future of Solcasino.
What is solcasino.io?
Solcasino was born out a need for a licensed, credible casino for players on the Solana network that utilized cryptocurrency. Launching in December 2021, Solcasino was the first casino platform built on the Solana blockchain which allows players to gamble directly from their web3 wallets.
Users can play and participate in a number of games of both chance and skill. Games such as classic blackjack, poker, slots and roulette. Solcasino also offers a full sportsbook for players on the site.
User growth
Launched in December 2021, Solcasino.io has seen exponential growth in it's user base and revenues.
Solcasino.io goes multichain!
When Solcasino launched, it supported tokens like USDC, USDT and SOL. As time progressed, we added support for SPL native tokens such as BONK, SAMO, DUST, PYTH and more. This provides extra utility for SPL coins on Solana.
As the user base grows, so does the brand of Solcasino. We expanded to multiple chains such as BTC, ETC, BNB, MATIC, APTOS, CANTO, FTM and more. Accompanying these expansions was support for their native crypto wallets such as Phantom, Metamask, Solflare, WalletConnect, Pontem, Martian and more. You can easily connect to and use Solcasino with any of these wallets and more.
Opportunity in Solcasino.io?
With their NFT mint, Solcasino opened up a new opportunity to earn and share in the upside success of the casino. The main benefit for our NFT holders is to earn a share of profits from the platform. These profits are calculated after expenses and costs such as paying operators, game providers and maintenance fees. There are further benefits and utilities for our NFT holders such as NFT staking, rakeback bonuses, VIP leveling systems, NFT lotteries and more.
Roadmap and Utilities
These are the current plan for Solcasino.io NFTs utilties and roadmaps;
NOTE: Rates and computations are subject to change.
To earn a share of the profits from the Solcasino.io, you first need to lock up your NFTs for a period of time and you will earn shares/rewards and other casino privileges(rakeback, bonuses and etc).
Also when you stake your NFTs, it will boost your rakeback rates an extra 5% - 30% (depending on how many NFTs you stake) bonuses. Staked NFT Bonus
= Rakeback Rate * Staked Nft RateStaking your NFTs also increases the EXP you gain for VIP/Levelling system.
Rakeback Bonuses
Rakeback is a reward where you can earn back a percentage of the house fees for being a regular player on Solcasino.io. The more you play on our casino, the more you can earn back.
Earn by Playing
Rakeback is calculated based on your total wager from the previous day. Unused rakeback bonuses will expire within 24 hours if not claimed/used. Earnings from rakeback will be claimable via Solcasino.io token based on real-time price.
Standard Rakeback Rate is 2% to 5% without nft bonusses.
Referral Bonus
When you invite other players to play on Solcasino.io, you can get referral bonus based on their wager amount. Earnings from referral bonus will be in the same cryptocurrency as your invited players bet.
Referral rate is from 5% to 20%.
VIP/Levelling up System
Level-up Benefits
Solcasino.io will introduce a levelling / VIP system to increase the rewards base on your current level. As your level increases, it will also increase your rates(rakeback, staked nfts, referral) and you will also get level-up bonus.
Level-up bonus will be sent in Solcasino.io token based on real-time price.
Gaining Experience
Players can gain EXP through wagering/betting on Solcasino.io. All bets made will be converted to USD value and will go towards the EXP to increase the players level.
The highest VIP level you can attain is 80 and we will provide a gain EXP chart in the following days.
Futures Trading
Solcasino now offers crypto futures trading with up to 1000x leverage on coins like Bitcoin, Ethereum, Solana, Matic, and BNB. You can trade using any tokens supported by Solcasino as collateral.
Solcasino has also developed TURBOWAVE, which is a provably-fair trading experience. All prices for the 24-hour round have been predetermined using a randomly drawn seed that is revealed at the end of each trading round. Using this published seed, anyone can verify that we followed the algorithm described below and that we did not alter any prices after the round's trading began. In particular, it is not possible for us to change prices based on the bets placed by users.
You can trade now at Solcasino.io/trading
Note: When you decide to end a trade, you'll still have the same number of tokens you started with, no matter how the price has changed, only after this the profit/losses apply. Funding Payments: Holding your bet open for more than 8 hours can lead to the possibility of hourly funding payments, which are subject to market conditions. In a bullish market, where prices are rising, the funding rate becomes positive, causing long traders to pay short traders. In a bearish market, where prices are falling, the funding rate becomes negative, causing short traders to pay long traders.
To illustrate, suppose you have an active long position in SOL with a 20x multiplier and a $100 investment, and the funding rate is at 0.1%. In this scenario, after the initial 8 hours, you would be charged $0.083 per hour. If your position were short instead of long, you would receive funding payments.
It's worth noting that if you decide to close your bet within the first 8 hours, no funding payments will be involved.
What's next for Solcasino.io?
Solcasino.io has a bright future ahead and along with its community:
More integration with other chains(Multichain is the way forward)
More exciting games to add to our casino.
More benefits to our holders.
Don't forget to gamble responsibly!
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