Casino Key Features

The SnakeDice.us Casino is powered by the deflationary SnakeDice "Snake" token ($SNAKE). The supply will decrease over time through a 'Buy & Burn' mechanism. Users will be able to play our games with several crypto currencies (although initially just $SOL and $SNAKE), with 7% of the house profits being converted to $SNAKE and subsequently sent to a burn address. Users who bet with $SNAKE will receive X% of their bets back as a rakeback bonus, and be eligible for additional rewards.

Our first 5 games will be Blackjack, Roulette, Plinko, Dice, and Snake Slots. The casino will be permissionless, meaning that the core team will not have access to the funds but rather funds will be deposited to a smart contract and subsequently paid out at the corresponding levels below.

Profits Distribution

35% - deposited to the SnakeDice treasury, to build a strong balance sheet and further development of the protocol and other products. Of this 35%, 12.5% will be given to the core team, 12.5% will be reserved for marketing & expenses, and 10% will be cash added to the balance sheet.

33% - paid out to NFT holders. Users will receive their profits in real time and be able to claim as they wish, paying a small SOL gas fee to claim. Split between all non-treasury held NFT's in circulation.

10% - Sent to SnakePad for VC investments. SnakePad is launching in Q1/Q2. Details to follow, but majority of profits will be sent to NFT holders.

10% - Token holder rewards. The top 30 token holders will receive this percentage of revenue. 5% shared between wallets 1-10 (excluding treasury/LP wallets), 2.5% shared to wallets 11-20, 1.5% shared between 21-30, and 1% sent to 10 random wallets every month.

7% - used to buy the $SNAKE token and send it to a burn address. This creates a deflationary effect on the token.

5% - Used for LP adding. Half will be used to buy $SNAKE from the open market, and then it will be matched with $SOL and added to the token liquidity.

Profits will be distributed live on the frontend. Buy&Burn and LP addition will be done unannounced, to discourage front-running.