🟢 Wasabi.casino 🟢 You are the house.

[Cointxz]

From the tagline of their announcement We are back means they gonna do continue their casino. But curious to know if their platform has been stopped operating since then? Or just got back here in forum to make their name prominent and get users.

including a complete tokenomics.

Tokenomics? Means you intended to have a utility token later on. Pretty much obvious I assume as theres a 20% allocation of players airdrop.  Is that correct OP?

Yes, they started this project last December and I’m one of the early user that was attracted to the idea and try the casino on its earlier version after they gave me “free WT tokens” to test the casino which on that time WT tokens can’t be traded unless you generate BT tokens which is impossible to generate since generation rate of BT tokens so low.

I manage to grow my free WT tokens by playing on casino games but after that this casino never actually made progress on WT tokens utility and at some point my stake WT tokens was gone after unstaking. Now they just convert it to BT tokens.

[asvsfs]

From the tagline of their announcement We are back means they gonna do continue their casino. But curious to know if their platform has been stopped operating since then? Or just got back here in forum to make their name prominent and get users.

including a complete tokenomics.

Tokenomics? Means you intended to have a utility token later on. Pretty much obvious I assume as theres a 20% allocation of players airdrop.  Is that correct OP?

Yes, they started this project last December and I’m one of the early user that was attracted to the idea and try the casino on its earlier version after they gave me “free WT tokens” to test the casino which on that time WT tokens can’t be traded unless you generate BT tokens which is impossible to generate since generation rate of BT tokens so low.

I manage to grow my free WT tokens by playing on casino games but after that this casino never actually made progress on WT tokens utility and at some point my stake WT tokens was gone after unstaking. Now they just convert it to BT tokens.

I don’t want to stir a drama here over “free tokens” but I will definitely not gonna forget about it. Lol

I think this is on us! but we have released the tokenomics much earlier than expected, And since only free WT tokens were in circulations we thought its more than fair to convert them to BT, any other plans would mean a huge disruption in migration.
And I'm again sorry it gave you a negative feeling, but I'm sure there is no loss here .

Also now no need to hold BT for WT exchange, WT is withdrawable and BT converts to WT normally, if at anytime wanted to give it another shot please take a look at platform and token guide.

[cryptoaddictchie]

Correct.

Tokenomics = utility token path (WT), fixed supply, named allocations. The 20% is the player airdrop share (earned by playing). Live breakdown: wasabi.casino/wt/allocations.

I see nice break down of tokenomics. But seriously Im really wonder why casino needed the tokens when anyone can use distinguish tokens or coins like bitcoin, eth, sol, usdt, and usdc.

Yes, they started this project last December and I’m one of the early user that was attracted to the idea and try the casino on its earlier version after they gave me “free WT tokens” to test the casino which on that time WT tokens can’t be traded unless you generate BT tokens which is impossible to generate since generation rate of BT tokens so low.

Was the WT tokens you tested are the one used on playing casino games? Was this a testnet activity or real money casino gaming? Confuses with the way BT tokens work in the process.

OP whats the perks of the WT tokens on playing the casino? Ive seen a staking feature too that will be present? For a casino that have utility tokens isnt that an added permit or requirements on legal aspect since Ive read you plan to have Public Sale?

[Cointxz]

Yes, they started this project last December and I’m one of the early user that was attracted to the idea and try the casino on its earlier version after they gave me “free WT tokens” to test the casino which on that time WT tokens can’t be traded unless you generate BT tokens which is impossible to generate since generation rate of BT tokens so low.

Was the WT tokens you tested are the one used on playing casino games? Was this a testnet activity or real money casino gaming? Confuses with the way BT tokens work in the process.

It’s the real WT token which they gave me for free to try the casino. WT tokens is already being traded back then with their built-in swap feature on the casino. Selling WT token is the only challenge before because you will need to earn equivalent BT token to sell WT token while BT token can only generate if you lose your WT token. 

Both WT and BT tokens utility are still on development that’s why there’s changes done along the way.

Maybe the current version is the final one since they already created a new ANN thread to introduced their tokens formally.

[Tetu100]

KYC: in the forum we pay attention to this very well. Either you are operating No KYC casino and you have to make everything clear foe the forum users to understand or you are operating KYC which is must be stated in the announcement thread and the website to avoid dispute between the gambler and the casino. Because I didn't see any of them in the ToS. And not when a gambler wins and you ask for KYC and that will lead to a big problem which your reputation will be at risk too. Therefore I will want you to make things clear for the forum users.

This is another area they need to pay close attention to by making it very obvious to their users to avoid long stories when money is as stake. Paherps, If they are none KYC casino it should be specify boldly, if it strict KYC or compulsory KYC then there's no need mixing words, let it be indicated so that people will know this information before they can start making deposit to avoid any problem in future . Just like you said earlier, their reputation is mostly tied on this factor and if they are wise enough they shouldn't try to play any fast one on users, because by doing so, it might end up jeopardizing or putting their reputation on the line and this wouldn't go down well with them.

[asvsfs]

Correct.

Tokenomics = utility token path (WT), fixed supply, named allocations. The 20% is the player airdrop share (earned by playing). Live breakdown: wasabi.casino/wt/allocations.

I see nice break down of tokenomics. But seriously Im really wonder why casino needed the tokens when anyone can use distinguish tokens or coins like bitcoin, eth, sol, usdt, and usdc.

Yes, they started this project last December and I’m one of the early user that was attracted to the idea and try the casino on its earlier version after they gave me “free WT tokens” to test the casino which on that time WT tokens can’t be traded unless you generate BT tokens which is impossible to generate since generation rate of BT tokens so low.

Was the WT tokens you tested are the one used on playing casino games? Was this a testnet activity or real money casino gaming? Confuses with the way BT tokens work in the process.

OP whats the perks of the WT tokens on playing the casino? Ive seen a staking feature too that will be present? For a casino that have utility tokens isnt that an added permit or requirements on legal aspect since Ive read you plan to have Public Sale?

Token has multiple benefits

• Instead of cashback which is not really clear how it happens in most casinos, we have a transparent straight forward formula that BT is generated from wagering and then that WT can be redeemed to USD or sold on market. And we are spending 80% of Casino revenue on making sure WT price stays increasing to create incentives for buyers, now your wagering value goes up in time.
  
• Public and private sale is a way to raise money for the house, Incentive for us.
• Staking adds value to platform and users gain benefits like x2 BT generation and access to investing in the bankroll.

This level of transparency, creates trust and value and a fair thrill for everyone to roll.

KYC: in the forum we pay attention to this very well. Either you are operating No KYC casino and you have to make everything clear foe the forum users to understand or you are operating KYC which is must be stated in the announcement thread and the website to avoid dispute between the gambler and the casino. Because I didn't see any of them in the ToS. And not when a gambler wins and you ask for KYC and that will lead to a big problem which your reputation will be at risk too. Therefore I will want you to make things clear for the forum users.

This is another area they need to pay close attention to by making it very obvious to their users to avoid long stories when money is as stake. Paherps, If they are none KYC casino it should be specify boldly, if it strict KYC or compulsory KYC then there's no need mixing words, let it be indicated so that people will know this information before they can start making deposit to avoid any problem in future . Just like you said earlier, their reputation is mostly tied on this factor and if they are wise enough they shouldn't try to play any fast one on users, because by doing so, it might end up jeopardizing or putting their reputation on the line and this wouldn't go down well with them.

We are no KYC, If at any time this changes it won't affect anyone's activity till that point. In case of fraud it is clear in terms, and Its not related to KYC.

[internetional]

Who gave you the permission?

It's actually a bit surprising to see a question like that on a Bitcoin forum. Personally, I like the fact that the OP openly says they don't have a license.

I can understand children needing permission from adults to do certain things. But I doubt the owner of this casino is a child. It's good that he decides for himself what he wants to do and what he doesn't, without waiting for anyone's permission.

[Haunebu]

I do not mean to defend this casino but in fact, there was no license at all if we are talking about crypto casino in the early years of this crypto gambling industry. What I want to say is that even if casino is licensed, there is still no guarantee that the casino will not run away with your money. We have seen many examples already where licensed casinos turned into scam. The main point, do not rely merely on license when you are going to choose casino.

That is not the point though. Having a license proves that the team is willing to spend a decent amount of money and that they have a sufficient bankroll for all of their operations in the short term as well as the long term. Don't think there is any popular site without a license.

Licensing from Anjouan, Curacao etc don't automatically prove that a site is legit, but they help establish the foundation of trust at the very least in the initial stages and that is their primary point IMO.

[Agbe]

Who gave you the permission?

It's actually a bit surprising to see a question like that on a Bitcoin forum. Personally, I like the fact that the OP openly says they don't have a license.
I can understand children needing permission from adults to do certain things. But I doubt the owner of this casino is a child. It's good that he decides for himself what he wants to do and what he doesn't, without waiting for anyone's permission.

Well there should be no argument here and I understand your point as well but the concept of No KYC is mis-defined by casinos a d that is why I expected questions are asked to know more. A casino would came here and tell the public that they are operating No KYC but deep down in them they ask KYC in a certain level of withdrawal. Now the question again why the KYC since they earlier said No KYC.

And the KYC is asked for a reason and that is identification. And to settle disputes. And in most cases government approved casinos because there is a mandatory clause from the government for all players to submit their identify for in case of any dispute or fraud case. And if a casino is operating under a jurisdiction by government authority that means they have been given the legitimate power to operate in the jurisdiction. And in this case, the authorized entity is pending. How? Either you don't have authorized entity to operate where the No KYC implemented fully and once it is pending then someone has given you the power to operate and it can't be pending. You can check the image I provided.

The main concern here is. No KYC is No KYC and KYC is KYC. And if it is KYC let it appears in the registration process and not when the gambler what to withdraw. I have shown examples of different platforms on this.

[letteredhub]

Hey wasabi.casino, welcome to Bitcointalk

Questions about these Terms can be sent to support@wasabi.casino

I checked through your terms and conditions to find this, so I felt interested to ask, is it possible that you guys would change a term assuming customers complains much about it?

I do not mean to defend this casino but in fact, there was no license at all if we are talking about crypto casino in the early years of this crypto gambling industry. What I want to say is that even if casino is licensed, there is still no guarantee that the casino will not run away with your money. We have seen many examples already where licensed casinos turned into scam. The main point, do not rely merely on license when you are going to choose casino.

That is not the point though. Having a license proves that the team is willing to spend a decent amount of money and that they have a sufficient bankroll for all of their operations in the short term as well as the long term. Don't think there is any popular site without a license.

Licensing from Anjouan, Curacao etc don't automatically prove that a site is legit, but they help establish the foundation of trust at the very least in the initial stages and that is their primary point IMO.

License proves a point that a casino is really in for business and it doesn't matter if there has being other casinos that scammed and ran away with customers funds despite having a registered license. What a casino has to do is to avoid any thing that could cast some unnecessary suspicions on them by intending customers.

[masulum]

• Instead of cashback which is not really clear how it happens in most casinos, we have a transparent straight forward formula that BT is generated from wagering and then that WT can be redeemed to USD or sold on market. And we are spending 80% of Casino revenue on making sure WT price stays increasing to create incentives for buyers, now your wagering value goes up in time.

So I want to make sure, if BT (bonus token) is a token generated from wagers, then the amount of BT will be dynamically based on the volume of wagers or this is just like a points without real token?

even if the casino use 80% of revenue for WT buybacks (CMMIW i think this sentence "making sure WT price stays increasing" = buyback), can protect the token from a potential market dump. I appreciate the enthusiasm, but maintaining the market price against such a dump requires high costs. Is the company prepared for that already? And what will happen to the WT tokens acquired through buybacks? since if WT become and assets from buyback, it will be make team hold more than half of token in the futures if no action with that (no burning, no locked).

[cryptoaddictchie]

It’s the real WT token which they gave me for free to try the casino. WT tokens is already being traded back then with their built-in swap feature on the casino. Selling WT token is the only challenge before because you will need to earn equivalent BT token to sell WT token while BT token can only generate if you lose your WT token.

Oh I see thats nice to see that they gave you some WT tokens I assumed that can be sold later when it becomes liquid congrats on you fam.

• Instead of cashback which is not really clear how it happens in most casinos, we have a transparent straight forward formula that BT is generated from wagering and then that WT can be redeemed to USD or sold on market. And we are spending 80% of Casino revenue on making sure WT price stays increasing to create incentives for buyers, now your wagering value goes up in time.
  
• Public and private sale is a way to raise money for the house, Incentive for us.
• Staking adds value to platform and users gain benefits like x2 BT generation and access to investing in the bankroll.

Dont you have any direct swap from the WT or BT like a conversion between these two assets? Now that you mentioned the raising part of the sale for this, when will the operation having WT and BT tokens gonna happened? The bonus part of the staking like 2x BT is enticing that provided is that your platform generate enough revenues from users or else that wouldnt be sustainable.

[Hispo]

I do not mean to defend this casino but in fact, there was no license at all if we are talking about crypto casino in the early years of this crypto gambling industry. What I want to say is that even if casino is licensed, there is still no guarantee that the casino will not run away with your money. We have seen many examples already where licensed casinos turned into scam. The main point, do not rely merely on license when you are going to choose casino.

That is not the point though. Having a license proves that the team is willing to spend a decent amount of money and that they have a sufficient bankroll for all of their operations in the short term as well as the long term. Don't think there is any popular site without a license.

Licensing from Anjouan, Curacao etc don't automatically prove that a site is legit, but they help establish the foundation of trust at the very least in the initial stages and that is their primary point IMO.

I agree. A license in important when comes to showing the casino has commitment, but in the end their reputation will come from a completely different place, they will have to show how much of a good service and quality customer service they can give.

Though, I will be honest, I am generally quite skeptical of casinos which have their own token and such, specially after what happen with Freebitcoin and their fun token.

[asvsfs]

I do not mean to defend this casino but in fact, there was no license at all if we are talking about crypto casino in the early years of this crypto gambling industry. What I want to say is that even if casino is licensed, there is still no guarantee that the casino will not run away with your money. We have seen many examples already where licensed casinos turned into scam. The main point, do not rely merely on license when you are going to choose casino.

That is not the point though. Having a license proves that the team is willing to spend a decent amount of money and that they have a sufficient bankroll for all of their operations in the short term as well as the long term. Don't think there is any popular site without a license.

Licensing from Anjouan, Curacao etc don't automatically prove that a site is legit, but they help establish the foundation of trust at the very least in the initial stages and that is their primary point IMO.

I agree. A license in important when comes to showing the casino has commitment, but in the end their reputation will come from a completely different place, they will have to show how much of a good service and quality customer service they can give.

Though, I will be honest, I am generally quite skeptical of casinos which have their own token and such, specially after what happen with Freebitcoin and their fun token.

There are difficulties getting license with the model we are working on and platform is based on. Though effort is not just license, this platform is built from ground up, no thirdparty no whitelabel of any sort and all games are built in-house plus a novel model that is built through a year of work. Its pure effort!

• Instead of cashback which is not really clear how it happens in most casinos, we have a transparent straight forward formula that BT is generated from wagering and then that WT can be redeemed to USD or sold on market. And we are spending 80% of Casino revenue on making sure WT price stays increasing to create incentives for buyers, now your wagering value goes up in time.

So I want to make sure, if BT (bonus token) is a token generated from wagers, then the amount of BT will be dynamically based on the volume of wagers or this is just like a points without real token?

even if the casino use 80% of revenue for WT buybacks (CMMIW i think this sentence "making sure WT price stays increasing" = buyback), can protect the token from a potential market dump. I appreciate the enthusiasm, but maintaining the market price against such a dump requires high costs. Is the company prepared for that already? And what will happen to the WT tokens acquired through buybacks? since if WT become and assets from buyback, it will be make team hold more than half of token in the futures if no action with that (no burning, no locked).

We can't prevent the market dump but with this model we are eliminating the motives for a dump, and the math allows us to always let users to redeem WT for a redemption price at anytime which is in direct relation with platform health hence the WT sales.

Why the downside is bounded
A ring-fenced Token reserve whose only job is to back WT.

.FILLS.FROM................ 17.6% of platform revenue. It starts empty and fills from revenue only, never from the raise.

.....

.REDEEM.................... Any time at the redemption price: reserve ÷ circulating supply. Redeemed WT is retired.

.....

.BACKED.................... In full No fractional reserve, so no first-mover advantage and no bank run to be had.

^{..EXAMPLE...$780,000.reserve.÷.100M.WT.=.$0.0078.floor..→..10,000.WT.pays.$78...}.

The reserve only ever grows
and the redemption price per token rises with it. Base plan of the Model Simulator.

	.. RESERVE, CUMULATIVE	REDEMPTION PRICE
M6	........................................................ $0.46M	$0.0046
M12	........................................................ $1.33M	$0.0133
M18	........................................................ $2.38M	$0.0238
M24	........................................................ $3.51M	$0.0351
M30	........................................................ $4.67M	$0.0467
M35	........................................................ $5.65M	$0.0565

A rush for the exit cannot break it: redeeming any fraction of supply removes exactly
that fraction of the reserve, so the ratio is unchanged. This is arithmetic, not a promise.

^{..FULL.BREAKDOWN.AND.THE.PROOF.→...........................TOKEN.WASABI.CASINO..}.

It’s the real WT token which they gave me for free to try the casino. WT tokens is already being traded back then with their built-in swap feature on the casino. Selling WT token is the only challenge before because you will need to earn equivalent BT token to sell WT token while BT token can only generate if you lose your WT token.

Oh I see thats nice to see that they gave you some WT tokens I assumed that can be sold later when it becomes liquid congrats on you fam.

• Instead of cashback which is not really clear how it happens in most casinos, we have a transparent straight forward formula that BT is generated from wagering and then that WT can be redeemed to USD or sold on market. And we are spending 80% of Casino revenue on making sure WT price stays increasing to create incentives for buyers, now your wagering value goes up in time.
  
• Public and private sale is a way to raise money for the house, Incentive for us.
• Staking adds value to platform and users gain benefits like x2 BT generation and access to investing in the bankroll.

Dont you have any direct swap from the WT or BT like a conversion between these two assets? Now that you mentioned the raising part of the sale for this, when will the operation having WT and BT tokens gonna happened? The bonus part of the staking like 2x BT is enticing that provided is that your platform generate enough revenues from users or else that wouldnt be sustainable.

BT is a receipt of play and every week can be redeemed to WT according to Week pool of WT available.
Correct more users spend on platform more benefit goes to token, it means if one person now plays he gets to get all the benefit if 100 same applies, this makes it fair and scalable from 1 to millions.

[RGBTC]

We can't prevent the market dump but with this model we are eliminating the motives for a dump, and the math allows us to always let users to redeem WT for a redemption price at anytime which is in direct relation with platform health hence the WT sales.

What would happen to the service if WT’s value approached $0? Let’s say you have a limited budget and must choose between allocating funds for operational costs or propping up the token price. Drawing on past experiences with similar tokenomic models, such projects ultimately fail because, fundamentally, their tokens offer no real utility.

[asvsfs]

We can't prevent the market dump but with this model we are eliminating the motives for a dump, and the math allows us to always let users to redeem WT for a redemption price at anytime which is in direct relation with platform health hence the WT sales.

What would happen to the service if WT’s value approached $0? Let’s say you have a limited budget and must choose between allocating funds for operational costs or propping up the token price. Drawing on past experiences with similar tokenomic models, such projects ultimately fail because, fundamentally, their tokens offer no real utility.

Fair question, and you are right about why those projects died. Short version: the service does not run on WT, so WT's price cannot take the service down with it.

1. There is no "operations or token price" choice to make.
Platform revenue is split by fixed shares: 39.6% to staked WT holders, 20.0% operations, 17.6% cash reserve, 14.0% bankroll hosts, 8.8% buyback. Operations is paid from its own 20% of revenue, whatever WT trades at. Nothing in the budget exists to defend a chart. The 8.8% buyback is not price support either: it buys WT on the open market each week and pays it to players converting BT. If WT is cheap, the same money simply buys those players more WT.

2. The casino itself never touches WT.
You cannot bet with WT. Bets settle in cash and the major cryptocurrencies, the bankroll is cash, and holders are paid in cash, never in newly minted WT. There is no mint function at all: 100M WT exist and the count can only fall. So a falling WT price does not shrink rewards, revenue or the bankroll. That feedback loop (rewards and revenue denominated in the project's own token) is what killed the models you are thinking of, and it is the one thing we designed out.

3. What WT near $0 would actually mean.
WT's utility is a claim on cash: a monthly share of revenue for stakers, plus the right to redeem at any time against a ring-fenced reserve (reserve ÷ circulating supply, and redeemed WT is retired). If the market price fell below the redemption price, anyone could buy and redeem for more, so it cannot stay there. And if the casino is earning while WT sits near zero, the cash paid per WT becomes huge relative to its price, which is exactly when buyers appear.

The honest limit: the reserve starts empty and fills from revenue only, so that floor is low early on and grows with time. WT can only trend to zero if revenue trends to zero. That is ordinary business risk, the same as any casino, and no token design rescues a casino nobody plays at. What this design does ensure is the reverse: a weak token cannot sink a working casino.

[Futurexxx]

Hey wasabi.casino, welcome to Bitcointalk

Questions about these Terms can be sent to support@wasabi.casino

I checked through your terms and conditions to find this, so I felt interested to ask, is it possible that you guys would change a term assuming customers complains much about it?

To answer this question you asked, I don't think it's likely because they cannot be altering their operation policy here and there, just by a few users request. The only way I think it will be possible is if a large numbers of their users have been all saying the same this that this or that policy is not friendly and should be changed, that is when I think they will look into it and do some amendment, but adjusting their policies just because a few users is not ok with it is what I don't think is possible. Though I might be wrong with my sentiment here, but that's what I think though.

I do not mean to defend this casino but in fact, there was no license at all if we are talking about crypto casino in the early years of this crypto gambling industry. What I want to say is that even if casino is licensed, there is still no guarantee that the casino will not run away with your money. We have seen many examples already where licensed casinos turned into scam. The main point, do not rely merely on license when you are going to choose casino.

You truly made a valid point here, and I wouldn't argue about that, but users feels more relax using a casino that is licensed, than when a casino is not licensed, so even though it guarantees nothing, getting a license to ease the fear of user is not a bad idea either.