JustBet - Where Everyone is a WINR - IEO on BitMart - $28K Hard Cap

[JustBet]

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BE A WINR WITH JUSTBET

Both completely decentralized and autonomous, JustBet is incentive-driven to encourage long-term engagement and customer loyalty.

JustBet is the first-ever completely self-sustaining, community-owned, online gaming protocol, and lottery system. JustBet is built not only for creating a completely fair playing experience but also for sharing the majority of its winnings with its users in order to create a self-sustaining, long term, engagement model that no other platform can offer.

HOW DOES JUSTBET WORK?

The JustBet protocol operates autonomously with pre-built algorithms for each game - based on the amount a player has wagered the user will automatically mint native WINR tokens on the platform at a rate predetermined by the smart contract for each period until the token reaches max supply. Each time a user wagers, their total amount wagered will be converted into a number of WINR tokens. This concept is called Proof-of-Wagering.

While playing JustBet games, platform users simultaneously and automatically mine WINR tokens!



Provably Fair


The use of blockchain technology creates an easily auditable and totally transparent online ledger, while the JustBet platform dynamically displays the reserve, the amount wagered, and the amount won for each game in the current period. By offering an unparalleled level of transparency in the gaming industry, the JustBet protocol can better ensure autonomy and sustain itself without the need for a central authority.

The JustBet provably fair feature uses cryptographic hash functions to ensure that neither game providers nor users can cheat before the game starts - in addition to the most commonly used fairness solutions, JustBet’s provably fair system uses a blockchain hash as the number randomizer.

All JustBet games and protocols are open sourced and transparent - anyone and everyone can examine and audit JustBet’s fairness, autonomy, and random calculations.



Revenue and Reserve Algorithms


Every smart contract should have enough money in it before it lets people bet and before it can issue winnings. Further, winning settlements should be made instant through blockchain-based money handling protocols. This is just the ecosystem JustBet offers.

The built-in algorithm of the JustBet protocol will dynamically adjust the minimum and maximum bets every 10 minutes depending on the average size of bets made recently and the amount of and liquidity of reserves the specific game protocol has at that time. In this way, JustBet game reserves maintain their solvency, and winnings can always be paid, even max bets.

The built-in algorithm of each JustBet game protocol assesses the total amount of money that is being played in order to determine the minimum reserve that must be held to retain liquidity.

JUSTBET GAMES

In JustBet, built-in algorithms continuously calculate and then select and settle on the best mathematically available operational decisions. Every JustBet game contract is connected to the router contract. When a game is played, a win or lose function is triggered depending on the game result (winr.mint function and winr minting). Each game has a spacing between a predetermined set of numbers. For example, for dice, the protocol limits the numbers between 1 to 100. For every bet, the protocol takes the transaction hash of the bet on the blockchain. The protocol combines the block hash, timestamp, and block difficulty of the transaction. The protocol then gets the integer of this combination as the random number. The protocol then uses this random number as the winning number for the game result.

JustBet games are built using the minimum public house edge and players can test the fairness of every game transparently!

JustBet will be offering a large line of games that all users will be able to play in a fully decentralized and autonomous environment with no human intervention. Here is a list of some of the games you will eventually get to play. Don’t forget that USDT (Tether) is directly playable on the JustBet platform alongside TRX (Tron token). The USDT WINR minting formula is exactly the same as the TRX WINR formula.

Dice
Moon
Slot Machine
Flip Coin
Roulette
Poker
Baccarat
BlackJack
Minesweeper
Keno
Sic Bo

HOW DOES WINR TOKEN DISTRIBUTION WORK?

Proof of Wagering


Users are able to mint WINR tokens as they play on the JustBet platform. WINR tokens are generated (minted) by Proof of Wagering. At each minting period, there is a certain predetermined amount to be minted. There will be 3 unique waves and a total of 3 phases within each wave making a total of 9 total unique waves of token distribution. Each wave and phase will have different amounts of tokens allocated to them.

The tokens that are available for the minting should be minted to our developer address with a 1:1 ratio as users are minting. So, once users have minted 2,887,500,000 WINR our developer address should by then receive the same amount in real-time. In the mining page, the Progress bar is the general mining progress for all the tokens available for minting.


Nine Unique Token Distribution Phases


There are a total of nine phases where tokens will be minted with a decreasing number of tokens minted in each subsequent phase. Therefore, players who participate in early phases can anticipate more tokens than those participating in later phases. WINR will continue to mint and be distributed until all tokens have been disbursed. After the 9th phase of token minting has occurred, any tokens stored in reserve from lottery purchases will be minted every time the token reserve pool hits 1M tokens. This will keep players highly engaged, as there will constantly be more tokens to win for participation.


How is Revenue Distributed?


Winnings from revenue are distributed into two pools: 80% of the winnings go to the winnings airdrop pool and 20% of the winnings go to the lottery pool. The token amount distributed at each period will be determined by the following equations (note that TRX and USDT both mine from the same WINR contract):

The amount of TRX bet/total TRX bet yesterday * Pool formula
The amount of USDT bet/total USDT bet yesterday * Pool formula

See our whitepaper the section Gaming Platform Management Systems for more information on the pool formula and winnings calculations.

HOW ARE WINR TOKENS USED?

Staking For The Daily Winnings Airdrop


Approximately 60 minutes after the JustBet protocol determines the daily winnings, the airdrop pool will automatically distribute winnings to eligible addresses that were staking from the previous period.

Tokens must also be staking for a full 24 hours to be eligible for rewards. This is the aging period. Addresses that unlock staked tokens before the distribution are not eligible for winnings airdrop payout. Every stake waits at least 1 day in _passiveStake. There is no earning in this period of time. When winr.tick() is executed (it executes every day, by router.tick), passiveStakes forwards funds to activeStakes.

Addresses that successfully staked within the period will automatically earn their share of winnings proportionally. When a user withdraws WINR tokens, their address loses it’s the eligibility for winnings airdrop for that period immediately. Users have to stake their tokens for a full 24 hours to be eligible for winnings airdrop the following day. Thus, if a user starts to stake within one period, his or her tokens will be eligible for the airdrop in the next period.

Every 24 hours (a day), 80% of the platform winnings will be shared to users that stake their WINR tokens within that period.


Buying Tickets for the Weekly Lottery


Users buy tickets by sending WINR tokens to the lottery smart contract. The more tickets a user purchases the more chances he/she has to win the lottery. On each Monday, every week at 17:00 UTC, the smart contract will automatically generate a set of 5 random numbers, from 1 to 20, for the lottery for that period. If there are one or more winners, those winners will receive an equal share of the total amount held in the smart contract.

If there are no winning tickets, then the amount held in the smart contract for the lottery will automatically roll over to the next period. Tickets are only valid for the lottery period in which they are purchased. Players can then participate again by purchasing additional lottery tickets with WINR tokens to purchase new tickets for the next draw.

At the end of each period (24 hours), 20% of all the winning generated by the platform is sent to the lottery smart contract.


Trading (Buying and Selling) on an Exchange


Users can sell their minted WINR tokens on exchanges to other people who want to speculate, buy a ticket for the weekly lottery or be a part of the periodic winnings airdrop. Users who want to participate in the lottery but who do not own any WINR tokens can buy their WINR tokens from an exchange and then
send them to a lottery smart contract in order to participate, where everyone can be a WINR!

JUSTBET INITIAL EXCHANGE OFFERING

Sale Details


IEO Date: 18 August 2020
Offered Through: BitMart
Hard Cap: $28,000
Price per WINR token: $0.0005 USD


Token Supply


Total Supply: 10,000,000,000 WINR
Total Minting Rounds: 9
Total WINR Available for Minting: 6,000,000,000 WINR
Pre-Minted for Seed Investors(unlocked over a 1 year period): 500,000,000 WINR
Pre-Minted for Partners: 600,000,000 WINR
Pre-Minted for Promotions & Future Partners: 144,000,000 WINR
Pre-Minted for Development Team(unlocked over a 1 year period): 2,700,000,000 WINR
Pre-Minted for Sale: 56,000,000 WINR

[bryancruZ]

While studying the project's website I found many interesting advantages of the project. Completely autonomous bankroll, no human interference is possible, all games built completely on-chain and many many others.

[TommyGunnaB]

JustBet will be offering a large line of games that all users will be able to play in a fully decentralized and autonomous environment with no human intervention, among them Dice, Poker, Roulette, BlackJack etc. I wonder if this list will be expanded in the future?

[EherD]

link white paper not worked  https://just.bet/whitepaper.pdf

[EherD]

link white paper not worked  https://just.bet/whitepaper.pdf

change it in this tried (ANN) to https://just.bet/WhitePaper.pdf?v=2

[Bitum]

Who is behind the project? Is there an official team? I couldn't find any information on the website. There have been so many gambling projects, but none of them ended up doing anything right. Sorry for my skepticism.

[CaVO32]

Who is behind the project? Is there an official team? I couldn't find any information on the website. There have been so many gambling projects, but none of them ended up doing anything right. Sorry for my skepticism.

YEs, are they going to publish their team members? because they have 70-page whitepaper and yet no mention of the members involved in this project?

and also, this will be their challenge here. how to get their players on board as there are already a lot of gambling sites. just head up to the gambling section and you will see a lot of them, old or new. So they need to be on top of their games here. and since they are using the TRON network, might be another challenge as most gamblers are used to bitcoin and other popular alts.



@JustBet - are you going to acquire decent gambling license as it is not mentioned in your roadmap?

[reap_chain]

As you can see from the roadmap, the project is now at the stage of signing a partnership with the Bitmart exchange and listing. After that, the launch of the platform is planned. Let's see how this very important stage goes.

[TimeTeller]

As you can see from the roadmap, the project is now at the stage of signing a partnership with the Bitmart exchange and listing. After that, the launch of the platform is planned. Let's see how this very important stage goes.

Did they mention about their soft cap? Or whatever they raised, they will push thru this project?
Their hardcap is actually low, so maybe they have private investors already as we are talking about gambling platform here.
And which by the way, needs good amount of money to start with.
Looking forward how they will compete with existing gambling platforms...

[harapan]

Did they mention about their soft cap?

I have read the website and whitepaper but can't find softcap information, it looks like they don't have softcap and maybe they already have some funds from investors they have now https://extrawatts.co/ and https://www.bxtb.net/

[terciduk123]

Did they mention about their soft cap?

I have read the website and whitepaper but can't find softcap information, it looks like they don't have softcap and maybe they already have some funds from investors they have now https://extrawatts.co/ and https://www.bxtb.net/

That's right, JustBet already has several investors, so they only need to get additional funds to facilitate their development.
now there are many gambling platforms, what makes your gambling platform more attractive than other platforms? and what coins can be bet?

[adAmgene]

"JustBet games are built using the minimum public house edge and players can test the fairness of every game transparently" - i think this part is pretty important to users. "All JustBet games and protocols are open sourced and transparent - anyone and everyone can examine and audit JustBet’s fairness, autonomy, and random calculations" - and this may be of interest to more advanced users who like to understand in more detail.

[JustBet]

[JustBet]

Thanks for your strong support. WINR tokens sold out in seconds. WINR will be listed on BitMart on 28th Aug. with WINR/USDT pair.

[target]

Casinos like this are becoming very common on EOS and TRX platform where they distribute dividends to stakers of their native token and in this JUST.bet its their WINR tokens.

Did they mention about their soft cap?

I have read the website and whitepaper but can't find softcap information, it looks like they don't have softcap and maybe they already have some funds from investors they have now https://extrawatts.co/ and https://www.bxtb.net/

These two are the only clue behind this project, they are listed as Investors on the website and there's also https://labs.solutions, bitmart for thier IEO and plair.gg as partners.

[kojektea]

Thanks for your strong support. WINR tokens sold out in seconds. WINR will be listed on BitMart on 28th Aug. with WINR/USDT pair.

The sales were amazing everything went quickly, but I did not know the project beforehand, so my eyes were closed to join, obviously now it looks good, isn't there any promotional event you will do for the Justbet project?

[CaVO32]

Thanks for your strong support. WINR tokens sold out in seconds. WINR will be listed on BitMart on 28th Aug. with WINR/USDT pair.

The sales were amazing everything went quickly, but I did not know the project beforehand, so my eyes were closed to join, obviously now it looks good, isn't there any promotional event you will do for the Justbet project?

That went well for them. Maybe because their hard cap is only small. And they have couple of investors here so attaining $28k hard cap was very easy for them. Now, let's wait how their decentralized gaming platform will compete with popular casinos here. They should have nice bankroll also as they are decentralized, every transaction should be fast and smooth as this is what their selling here.

[kojektea]

Thanks for your strong support. WINR tokens sold out in seconds. WINR will be listed on BitMart on 28th Aug. with WINR/USDT pair.

The sales were amazing everything went quickly, but I did not know the project beforehand, so my eyes were closed to join, obviously now it looks good, isn't there any promotional event you will do for the Justbet project?

That went well for them. Maybe because their hard cap is only small. And they have couple of investors here so attaining $28k hard cap was very easy for them. Now, let's wait how their decentralized gaming platform will compete with popular casinos here. They should have nice bankroll also as they are decentralized, every transaction should be fast and smooth as this is what their selling here.

Yups we will see how they carry out their strategy whether they will be superior to other top casino sites, and I am very curious about their initial trades which will soon be listed on the exchange hopefully good results

[reap_chain]

In  JustBet,  built-in  algorithms  continuously  calculate  and  then  select  and  settle  on  the  best mathematically available operational decisions. Every  JustBet  game  contract  is  connected  to  the  router  contract.  When  a  game  is  played,  a win or lose function is triggered depending on the game result.

[terciduk123]

Thanks for your strong support. WINR tokens sold out in seconds. WINR will be listed on BitMart on 28th Aug. with WINR/USDT pair.

WINR tokens had a huge supply of 10,000,000,000 WINR and only 56,000,000 WINR are sold. Are the tokens circulating in the trade later are only investors' tokens or are there other tokens?
I see there are 2 unlocked token allocations:
Partners: 600,000,000 WINR
Promotions & Future Partners: 144,000,000 WINR