Prepers Score: S
ICONbet is a fully decentralized DAO casino, completely owned and operated by members of the ICONbet DAO. Membership of the DAO is represented by TAP token holdings, and TAP tokens can be earned through playing ICONbet or purchasing on third party services. Fairness, transparency, and profit redistribution are essential to ICONbet’s vision, and blockchain enables all these traits that we value. All of the smart contract code that facilitates TAP transactions is viewable in the ICON Tracker, and the founding team is building processes to allow for simple integration of games developed by 3rd parties.
What is ICONbet?
ICONbet is a decentralized autonomous organization (DAO) that hosts gaming DApps. ICONbet strives to utilize blockchain to provide transparency, profit redistribution, and provably fair gaming with its platform.
How are rewards split?
100% of ICONbet platform games go to the reward pool. 80% of third party games go to the reward pool and 20% to partner developers. The reward pool is then distributed as follows: 80% to staked TAP holders, 10% to wager war and 10% to next day’s reward pool.
What is auto-bet?
Auto-bet allows users to place the same bet over and over again without clicking any buttons. It is commonly used to “mine” as many TAP tokens as possible. Please watch this fun instructional video for DAOlette to see how auto-bet is used. Auto-bet is shown starting around 50 seconds
How do I connect with the ICONbet community?
Telegram Community: t.me/ICONbet_official Twitter: @ICONbetOfficial
What is a TAP token?
TAP is an IRC2 token built on the ICON blockchain. There will be a total of 625,000,000 TAP tokens minted. TAP represents ownership in the ICONbet DAO. It can be used for voting on ICONbet decisions and they earn rewards from DAO earnings.
Where can I get TAP tokens?
The only way to earn TAP tokens is by playing on the ICONbet platform. The daily distribution of TAP tokens will be proportional to each player’s daily betting volume (in ICX)—win or lose, the more you bet, the more TAP tokens you will own. A total of 1,000,000 TAP tokens will be distributed daily for the first 250 days. Starting on day 251, TAP mining will reduced by 0.5% everyday until the daily release reaches 25,000 25,000 TAP tokens per day. From day 986 onward, 25,000 TAP tokens will be mined each day and TAP tokens will be completely depleted by day 3,225. The full formula for TAP token distribution can be found in the Whitepaper.
How can I calculate dividends and TAP Token Distribution?
TAP Token Payout = Today’s Total TAP Distribution x (My Wagers / Total Wagers)
Expected ICX Payout = 0.8 x Excess x My Staked TAP / Total Staked TAP
Wager War = 10% of Current Treasury Excess will be sent to top 10 players divided like below:
How many TAP Tokens exist?
The maximum supply of TAP tokens is 625,000,000. 20% are held by the founding team and 80% will be mined by players.
What are the rules for DAOblackjack?
DAOblackjack uses fairly standard blackjack rules:
- 6-deck shoe
- Blackjack pays 6 to 5
- Insurance offered with 2 to 1 payout if Dealer shows an Ace
- Player can double on first two cards if they total 9, 10, or 11
- Dealer hits on soft 17
- No drawing to split aces (only draws one card to each new hand)
- No dealer peek for blackjack - Sorry! Not possible to do that with a fully transparent blockchain dApp.
- Split to two hands
- No double after split
Can I play more than one hand at a time?
The game only supports one player at the table against the dealer, but you can open multiple games. Three games seems to be a good number, and you can have up to five.
I see a list of ‘Active Games’ What is that?
If you can’t complete a game for any reason it will appear under Active Games and you can resume play by clicking on it. It will open in a new browser tab.
I don’t know much about Blackjack. How can I start?
One great place to start learning about Blackjack, and many other casino games is Wizard of Odds.
What is DAOdice?
DAOdice is a game involving two ten-sided dice. One die has numbers 0 through 9, while the other die has numbers 0, 10, 20…90, allowing for players to roll any number between 0 and 99. Players adjust the range on which they would like to bet, then the odds of winning and multiplier adjust accordingly. Users also have the option to bet on side-bets: One ICON Symbol, Two ICON Symbols, and Matching Digits.
How do I play DICE?
Please watch this fun instructional video:
Can I bet on more than one side bet?
This is not currently available.
What is DAOlette?
DAOlette is the first game built on the ICONbet platform. It is a Roulette-style game. This game allows players to place bets on a number, set of numbers, color, odd/even, or high/low.
What is “Slider Bet”?
ICONbet’s unique “Slider Bet” feature allows the player to also place a bet on a set of numbers higher or lower than a selected value. This is a unique feature that is not available in typical brick-and-mortar casinos.
Can I bet on the bomb, or include the bomb in a set of numbers?
DAOlette does not allow placing bets on the bomb, or include the bomb in a set of numbers to be bet on.
How do I play DAOlette?
Please watch this fun instructional video:
Provably fair gaming
How is the game randomized?
When the game is initiated, the game smart contract generates a SHA3-256 hash that determines the wheel’s angular displacement. The hashing seed is a mix of the transaction hash, the block timestamp (source of unpredictability), and an optional user-provided ‘lucky phrase’. For a more detailed explanation, please refer to the Technical Details section of the Whitepaper.
How do the transactions occur?
All ICONbet transactions are triggered by players or by four open sourced smart contracts. Each contract supports a key function of the ICONbet platform and enables it to be a DAO: TAP tokens and holder addresses, TAP token rewards distribution, management of the house treasury, and the ICX dividends distribution.
I want to see the codes, where can I find ICONbet Smart Contracts?
Please visit tracker.icon.foundation and search for the below smart contracts:
TAP Token Contract: cxc0b5b52c9f8b4251a47e91dda3bd61e5512cd782
Rewards Contract: cx3b9955d507ace8ac27080ed64948e89783a62ab1
Dividends Contract: cx75e584ffe40cf361b3daa00fa6593198d47505d5
Game Contract: cx1b97c1abfd001d5cd0b5a3f93f22cccfea77e34e
ICONbet has brought more transactions to the ICON Network than any other DAO/D'app created on the platform. ICONbet is one of the largest d'apps in the entirety of the cryptocurrency ecosystem by 24 hour volume; specifically, ICONbet is one of the top 20 d'apps by this metric in the blockchain space. ICONbet is an online casino that has successfully created their own vibrant community on Telegram, boasting over 1100 members. ICONbet has created over 8 different games on their platform and also, since the project is a DAO, individuals who hold TAP, the platforms main token outside of ICX, individuals will generate rewards from holding TAP and are able to participate in platform decisions with their TAP.
Statistics Timestamp: 1/31/21
Votes: 10.7 Million
Server Uptime: 99.64%
Server Location: Las Vegas, United States
Social and Links
Official Website: https://iconbet.io/
Official Twitter: https://twitter.com/IconbetP
Official Telegram: https://t.me/iconbet_official
Projects Include: DAOdice, DAOletter, DAOblackjack, DAOlottery, DAOlevels, DAObaccarat, DAOcolors, DAOplinko
Corey Costa- Catena