⚙️$DGW Token Utilities
The DGW Token is an integral part of the DegenWin ecosystem. In fact, it represents actual partial ownership of the DegenWin Casino amongst other things. This has a significant effect on the intrinsic value of the DGW token long term while also allowing for the development of a significantly liquid market sustainably over time - as additional utilities continue being rolled out.
DegenWin is all about providing its user base with a user-experience driven platform that is both rewarding and intuitive to use. Accordingly, the DegenWin team have designed a token that will not only further reward its users but also be extremely intuitive to use and understand.
As of right now, the DGW token utility is as follows:
Ownership of Casino:
By Holding DGW, users are able to own a stake in the DGW Casino to the tune of 25% of total Casnio revenues. This means that 25% of the Casino ownership is represented by 100% of the total supply of DGW. In this case, the more tokens you hold, the larger your ownership of the DGW Casino - up to a maximum of 25%, which allows you to also earn up to 25% of total Casino revenue. The significance of owning a share in the DGW allows users to not only play against the House when using the platform - but also be the House (while owning tokens) at the same time. A Crypto Gambling First.
DegenWin Casino does revenue distributions to token holders daily. Users simply need to buy the token and hold it for 24 hours prior to the next closest distribution date in order to be eligible for the revenue distribution. Note, all eligible DGW wallets will be eligible to claim these rewards daily from the website. All centralized exchange wallets will not be eligible for these rewards.
There are other benefits to holding the DGW token. These will be frequently updated as new features/products are launched. As of right now, users get the following benefits for holding the DGW token.
Free Token-Based Tournaments:
Users can get access to free tournaments based on the amount of tokens they hold. who hold a certain amount of tokens in their wallets.
DGW (USD) | Number of Free Tournaments |
$100,000+ | 100 |
$75,000 | 75 |
$50,000 | 50 |
$25,000 | 25 |
$10,000 | 10 |
$1,000 | 5 |
$100 | 1 |
These free tournaments get renewed every 14 days.
DGW Buybacks
A portion of all platform revenue will be used to buy back the DGW token on the open market. In order to establish true intrinsic value, enhance user rewards and develop deep token utility, DegenWin will allocate these DGW token buy backs in the following ways: .
Deflationary Burns
Similar to BNB, a significant portion of the total platform revenue will be used to buy back and burn the token. The revenue used to buy back the token comes from both the Casino and Sportsbook verticals, making DGW deflationary in nature.
Vertical | % of Revenue used for Buyback and Burn |
Casino | 20 |
Sportsbook | 25 |
Note: Buyback and Burn is based on revenue, not profit. This means that even if DegenWin as a platform loses money on any particular day, the corresponding buyback and burns will still occur.
Real Yield Rewards - Staking
Beyond revenue distributed to users based on simply holding the token, users can further multiply yield generated by staking their DGW tokens in a staking pool hosted by DegenWin. This staking pool is funded with platform revenues on a monthly basis and allows users to continue earning real yield based on their token holdings.
The revenue from both verticals is taken and used to buy back the token on the open market. Those tokens then are funneled to staking contracts that users can participate in and earn additional APY.
Vertical | % of Revenue used to Buyback and Stake |
Casino | 10 |
Sportsbook | 20 |
By funding the staking contract through tokens that were bought back, liquidity is consistently being built for the token - which over time serves as a massive catalyst for price action and larger trade executions.
All Real Yield Rewards are based on revenue, not profit. This means that even if DegenWin as a platform loses money on any particular day, the staking contracts will continue receiving rewards from token buy backs.
Note: There will be no lockup period for users to unstake tokens, which means a user can unstake at ANY time they wish after having initially staked their tokens.
Liquidity Pool (LP) Enhancement
In order to continue to enhance token liquidity, a portion of all platform revenue will be used to buyback tokens and add them to LP. The amount of revenue allocated to Liquidity Pool Enhancement will be variable depending on DAO Governance voting. Users will be able to choose whether the bought back tokens reserved for LP Enhancement be used for such or allocated to either being burned or deposited into the staking contracts.
Additionally, users will also be able to deposit liquidity to earn fees on DGW trading on decentralized exchanges.
DegenWin Dao Governance:
$DGW token grants holders governance rights over the DegenWin Ecosystem. In essence, the more $DGW you own, the more voting power you have as part of the DegenWin DAO. Token holders will be able to initiate proposals for various platform wide development updates/decisions along with fee changes to the Staking Lottery, Casino Ownership, Buy Backs, LP Enhancement, addition of new games, listing new tokens, whom to sponsor next etc. All participants in the DAO are collectively working towards a shared goal of creating a decentralized infrastructure owned and governed by the DAO.
Note: You will be able to continue receiving Casino rewards even while taking part in a governance proposal.
DGW Staking Lottery
The DGW Staking Lottery allows all DGW holders to get a chance to enter into a “risk-less” lottery where DGW tokens are used as entry tickets. The Staking Lottery is funded by a portion of the total platform revenue. The entire process is provably fair and transparent.
How to Participate?
Users will be able to stake their DGW tokens up until 24 hours prior to the draw, which happens every Friday. A minimum of 50 DGW tokens must be staked in order to enter the draw per wallet. A small staking fee of 0.5% applies at the time of entering the draw. If a user does not win, they will be able to withdraw their tokens - essentially making the entire lottery risk free.
The fees accrued through the Staking Lottery will be burned - thus additionally contributing to the deflationary effects of the DGW token.
Winning and Distribution of Funds
The more tokens a user stakes, the higher their chance of winning. And so, when the winners are announced, the total prize is then distributed to the first 100 people. The winnings of the lottery are denominated in USD and can be a combination of platform core supported assets such as (BNB, USDT, BTC and ETH) and DGW - depending on the distribution of platform revenue in that week.
The following is the distribution of the prizes, once the lottery is drawn. Please note, this is subject to change based on DAO Governance votes and user feedback over time)
1st: 20% of the lottery prize pool
2nd: 15% of the lottery prize pool
3rd: 10% of the lottery prize pool
4th: 5% of the lottery prize pool
5th: 2.5% of the lottery prize pool
6th-100th: 0.735% to 0.265% (in increments of 0.005%) of the lottery prize pool
The lottery is provably fair and is calculated using industry best practices. Additional details about the lottery will be revealed closer to our first lottery post launch.
Note: You will be able to continue receiving Casino rewards even while taking part in the DGW Staking Lottery.
In Platform Payments Powered by DGW
$DGW can be used within the DegenWin Platform in both the Casino and Sportsbook verticals as a settlement currency for all games and future products that may come.
Risk Free Bets
In addition to getting free tournaments for holding the token, the Casino hosts regular events where users can bet risk-free with $DGW tokens. More details on this will come at a later date.
DGW Powered Loyalty Program:
In order to drive continuous daily activity and maintain user stickiness, DegenWin utilizes token-based rewards to enhance player experience and incentivise players to remain active on the platform. These rewards are based on a variety of different metrics and are represented to the user in a gamified fashion. Users earn badges as a representation of milestones and achievements on the platform. These badges each come with a token prize. Once a user attains a badge, they are eligible to claim that equivalent value locked in that badge as a reward. Users at that point can either cash out or continue to use those tokens elsewhere on the platform.
The following is a non-exhaustive list of token filled badges that users can earn:
Daily Login Streaks
Lifetime Wagered Amount
Win Streak
Lose Streak
Referrals
Number of Games Played
All Games Played Once
Multi Sport Betting
Same Day Sport and Casino Wins
Token-Based Raffles and Giveaways:
The Loyalty Program is further established through DegenWin raffles and giveaways denominated in $DGW tokens. These contests provide users with additional opportunities to win tokens which rewards the users thus driving greater user excitement and engagement.
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