WINR PROTOCOL
INTRODUCTION
The WINR Protocol is a fully autonomous liquidity and incentive infrastructure explicitly built for on-chain games requiring a counterparty asset vault.
INTRODUCING GENESIS WLP FARM
WINR Protocol is thrilled to announce the launch of Genesis WINR Liquidity Pool (gWLP) Farm, an on-chain event accessible through WINR Protocol and JustBet interfaces. Early liquidity providers can earn bonus vWINR yield block by block, in addition to the price appreciation of WLP and regular vWINR emissions.
Genesis WLP providers can get guaranteed whitelist spots in the public sale on Camelot in proportion to their liquidity if they deposit USDC before the cutoff date of March 9th, 3 AM UTC. There are no minimum or maximum limits to USDC deposits, and the end date for deposits is March 31st, 12 PM UTC.
Each USDC purchase will issue an ERC20 token called gWLP, which can be staked before the mainnet launch. Staked gWLP tokens can claim bonus vWINR emissions. The USDC will be held in a multisig address controlled by Camelot DEX and WINR Labs, which will purchase WLP put into the gWLP staking contract.
After a 30-day lock period after the mainnet release, gWLP can be claimed through the staking contract and converted to WLP. Converted WLP will no longer receive bonus genesis farm rewards. The vWINR emissions are up to 2.5% of the supply, and the amount will be collected through a whitelist contract audited by WINR Labs.
WINR Protocol is excited about this development and looks forward to providing users with innovative ways to earn rewards. The platform has received positive feedback from users, and this event is expected to be well-received by the growing user base.
Announcing Details of the $WINR Fair Launch on Camelot
We are thrilled to announce the launch of the WINR token on Camelot, marking an important milestone in the development of the WINR Protocol and the subsequent e-gaming platforms. With this launch, we are taking a significant step towards revolutionizing the world of gaming and betting on the blockchain.
WINR is the native token of the WINR Protocol and will play a crucial role in the WINR ecosystem. The users of the platforms built on the WINR Protocol (the first of these is JustBet) will be able to stake or vest the vWINR tokens they are rewarded with for their bets (or through providing the liquidity to WLP) to get a certain percentage as real yield of the WLP’s revenue. The token will also be used for governance of the protocol, allowing holders to vote on key decisions related to the protocol’s developments and future direction.
The fair launch of WINR on Camelot will take place on March 9, 2023, and we are excited to offer our community the opportunity to get in on the ground floor of the e-gaming revolution. During the launch, a fixed supply of WINR tokens will be available for purchase. There will be two stages to the sale of tokens. The first stage will be open to whitelisted users and will run for 48 hours. The second stage will be open to the public for the remaining amount from the first stage and will run for 24 hours.
THE WINR PROTOCOL TOKEN MODEL EXPLAINED
The WINR Protocol is a decentralized gaming ecosystem built on top of the Arbitrum blockchain to provide decentralized liquidity for on-chain games. However, to facilitate an on-chain mechanism that ensures liquidity is provided to games while also rewarding players' actions, WINR Protocol has developed two token systems with WINR/vWINR contributing and playing an important role in the protocol’s mathematical model.
THE DUAL TOKEN SYSTEM
We first need to distinguish the two tokens to understand the process better. WINR is the native token of the protocol. The second part of the token system consists of the vWINR token, which is the vested version of WINR.
New vWINR tokens are minted with each betting transaction and can be converted into WINR tokens after 180 days. While the vesting period isn't strictly imposed, every user can redeem vWINR tokens outside of 180 days; however, vWINR tokens must be vested for at least 15 days before being redeemable. Still, token holders are incentivized to hold and stake both WINR and vWINR tokens to receive WLP tokens which are part of the protocol's staking pool. Staking vWINR tokens are two times more profitable than staking WINR tokens.
To decrease inflation while ensuring an accurate rewards system, the WINR protocol has a set emissions schedule where 30% of all emissions are distributed during each on-chain transaction. Moreover, liquidity providers also get 7.5% tokens while 2.5% is allocated to the WINR/vWINR staking pool.
BURNING AND TOKEN INFLATION
There’s also an emissions scheme set to combat token inflation further, and it’s directly related to the bribes paid into the WINR/vWINR pool, the current vWINR price, and the minting multiplier. We’ll discuss the bribes mechanism later; however, the bribe multiplayer ranges from 0.5X to 2x and can also be subjected to three total halvings.
So for each vWINR minted for the players, a fourth of the amount is minted for the WLP holders. WLP tokens grow in value over time as more users lose tokens that are added to the general index fund. However, the more players win, the lower the price of WLP tokens becomes until there is a rebalancing of players sum ups.
With so many emissions and token issuance, WINR needs a deflation mechanism to keep token value and inflation in check. This means the protocol has a buyback process of 20% bribes and 15% fees to burn WINR tokens from the open market. This self-rotating mechanism also includes a lesser than 180 days vesting period where vWINR are burned on top of the 0.5% fee for unstaking WINR or vWINR tokens.
FINAL WORDS
With the bribes mechanism forcing the WLP to pay based on a multiplier, the WINR protocol's incentive model offers a mathematical edge that helps its liquidity to stay solvent while providing value to developers and rewarding token stakers and players. On that note, the WINR smart contract provides WINR protocol with a solid foundation to continue building the self-relying on-chain liquidity protocol.
