Gambling token profile – DAO Casino (BET)

Details

Product
Decentralized blockchain gambling protocol.

Country
Russia.

Technology
Ethereum ERC20 token protocol.

ICO dates
29 June 2017 – 21 July 2017

Amount raised
$12.2 million/56,370 ether.

Token distribution
167 million BET tokens created.
70% sold to investors.
30% retained by the fund-raisers.

Market cap – ICO amount raised per token sold * total number of tokens
$17.4 million

Market cap – first listed Aug 2017
$6.5 million

Market cap – Feb 2019 
$1.5 million

RIO since ICO
Total: -91%
Per year: -70%

RIO since first listed
Total: -77%
Per year: -52%

Links

Introductory video

Token use

BET tokens will be used as an app-coin for betting and for all reward and incentive systems on the platform; such as bonuses, rakeback and referral payments.

Project summary

DOA Casino is in the early stages of development with only prototypes and beta versions to show. However, their documentation and strategy indicates a solid foundation and maturity.

DOA Casino aims to be an automated value distribution protocol with incentives determined by a system of ethereum smart contracts.

The contracts define the role based relationships between all participants in an open gambling ecosystem, allowing participants to interact with automatic execution of fund transfers between them. Participant roles include

  • Game developers.
  • Platform operators, including white labels.
  • Players.
  • Referrers.
  • Random generators.
  • Bankroll backers.
  • Security auditors and regulators.

DOA Casino is also a peer to peer marketplace in which all parties can interact without trust or tight coupling. This may allow for transparent and trustless relationships between participants as transactions are auditable and administered by verifiable code.

For example, a game developer can release a game without having any particular casino site in mind to host it on. Any casino site that wanted to offer the game could do so and if players play the game, then the game developer will be paid without ever having to trust or have a direct relationship with the site, players or anyone else.

Another example is that affiliates will know they are being fairly compensated rather than trusting an operator or needing to establish an individual relationship with them.

It is hoped that these provably fair relationships between stakeholders can increase competition, reduce fraud and allow new business models to emerge and evolve.

Vaporware?

All of the above sounds fine if you can pull it off. Nearly 2 years after the ICO DOA Casino seems to have released nothing useable and their latest development update suggest the first thing they might come out with will just be a wallet. Disappointing progress to say the least.

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