PLAY JACKPOT
Overall Guide
PLAY JACKPOT is the first game published by PLAY Finance.
PLAY Finance accumulates “interest payment” of all users and give it all at once to prize winner.
To focus on operating DeFi games, not managing all the DeFi related services which is hard to manage and easy to be attacked, PLAY Finance uses partnership DeFi services, Alpaca Finance and Pancake swap. Most pools use the Alpaca Finance lending pool which stakes single asset and get interest from it, and the "CAKE" gaming pool uses the syrup pool.
PLAY Finance deposit all the crypto assets on behalf of our customers to those two DeFi services and pays out new PLAY token which has much bigger opportunity to grow fast in near future.
Due to this structure, we promote ourselves as “add-on” DeFi service. We reviewed the smart contract code of those two services and concluded that those are the ones we can trust than other similar services just copied other services’ code base.
You got 1 lottery ticket everyday when you deposit $1 corresponding crypto assets. Due to this logic, your number of game tickets may change over time and this number is fixed right before the draw. We draw this lottery everyday at 00:00 UST.
We initial set the odds of winning as 1/1000,000,000. This means if the TVL of PLAY Finance goes $10M, we will stochastically have a prize winner in around 100 days.
Prize is accumulated by PLAY Finance using deposit amount of crypto assets. One special thing is every benefit from PLAY Finance is paid by “PLAY” which is governance token of PLAY Finance. Prize winner will get lots of PLAY tokens corresponding to total prize amount.
As the prize pool is accumulated with PLAY only, we still have a vault with actually interest payments. PLAY Finance will buy “PLAY” token from DEX so that price of our governance token can be supported continuously. This pool can be powerful when we have a prize winner who got huge amount of PLAY payment. With this actually vault that has famous crypto assest, we can support the price even when there are huge payout of PLAY. * This vault is blocked to send assets to individual wallet. PLAY Finance can only buy or sell related assets from DEX to manage the price of PLAY token. ** We can support the price of PLAY since we accumulated prize pool corresponding to the actually amount of interest in this vault.
PLAY is accumulated considering current price of the PLAY, and 90% of the interest that PLAY Finance get goes to prize pool.
90% : Goes to prize pool and being a prize for the this game
5% : Prepared for next game, to avoid there is nothing left after having prize winner.
1% : SAFU. If security issue happens and user got damaged from it, PLAY Finance will compensate with this SAFU pool.
4% : Operational costs. To draw the game and refresh data in the game, PLAY Finance Dev team spends some crypto continuously. This amount is used for operating various games in the future.
To avoid attack related to PLAY price, we limited the total amount of the PLAY to 10 million that can be accumulated in this prize pool at the biggest. Considering the price of the PLAY is around $1, prize will be $10 million which is the same amount that we expected as a prize. If we just let DEX price decide the corresponding price at all, fair lunch pool will be suddenly consumed by flesh loan attack.
Prize not the only benefit in PLAY JACKPOT. You can get PLAY token according to the amount that you deposit in PLAY JACKPOT pools. This benefit is not an interest, more like incentive given to the participants. Same as other DeFi services, we splitted the total amount of benefit for each “gaming (deposit) asset pools”
PLAY : 25% (Managed by PLAY Finance)
PLAY-BNB : 10% (Managed by PLAY Finance)
BTCB : 5% (deposit in Alpaca Finance)
ETH : 5% (deposit in Alpaca Finance)
BNB : 20% (deposit in Alpaca Finance)
BUSD : 10% (deposit in Alpaca Finance)
USDT : 10% (deposit in Alpaca Finance)
CAKE : 5% (deposit in Pancake Swap)
ALPACA : 5% (deposit in Alpaca Finance)
Event pool : 5% (Managed by PLAY Finance)
Total amount of the benefit can be changed in time (much bigger change to be decreased in time to manage liquidity) and splitted ratio also can be changed in time to give incentive to users.
Every changes that can be made in PLAY Finance, including PLAY JACKPOT, are locked by “time lock” and users can know this 24 hours before.
To avoid hacker attack, we will keep creating our games such as PLAY JACKPOT with non-upgradable format of smart contract.
For investors :
Please be careful about your investment since PLAY token is not listed in major exchanges and its price fluctuation could be much bigger than anyone expected. PLAY Finance is not responsible for users’ investment decision, and we do not urge to buy PLAY or invest in our platform just to get humongous amount of benefit which is abnormal.
Principal of your deposited asset are managed by Alpaca Finance and Pancake swap. We, as a proxy platform, cannot handle it in our own will and it depends on those two services. Please check those services before having investment decisions.
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