Updates Galore (DICE Distribution & More)!steemCreated with Sketch.

in #dice2 years ago

On March 12th at 04:00-UTC, we'll be releasing:

  • DICE Distribution Update
  • VIP Update
  • DICE Jackpot
  • Lottery Update
  • Payout Pool Update
  • Profit Leaderboard Removal
  • Wager Leaderboard Update

The finalized details of these previously announced changes are outlined below.

DICE Distribution Update

DICE will be issued based on the house profit in USD, and will support mining with multiple tokens.

 Supported tokens: 

  • EOS, EUSD, EBTC

As the mining rate will be based in USD, the mining rates will be updated based on the token prices from CoinMarketCap every minute: 

  • EUSD rates will be based on the CoinMarketCap price for USDT 
  • EBTC rates will be based on the CoinMarketCap price of BTC 

Example A: 1 EOS wager in Dice 

  • House Edge = 1.5% 
  • EOS Price = $3.50 
  • Issue Rate = 1 DICE per 0.064 USD profit (stage 8)

1 EOS x 3.50 (EOS Price in USD) x 0.015 (House Edge) / 0.06400 (Issue Rate) = 0.8203 DICE received 

Example B: 1 EUSD wager in Blackjack 

  • House Edge = 0.3% 
  • USDT Price = $1.00 
  • Issue Rate = 1 DICE per 0.064 USD profit (stage 8)

1 EUSD x 1.00 (USDT Price in USD) x 0.003 (House Edge) / 0.06400 (Issue Rate) = 0.0468 DICE received 

Example C: 0.001 EBTC wager on “Player” in Baccarat 

  • House Edge = 1.24% 
  • BTC Price = $3900 
  • Issue Rate = 1 DICE per 0.064 USD profit (stage 8)

0.001 EBTC x 3900 (BTC Price in USD) x 0.0124 (House Edge) / 0.06400 (Issue Rate) = 0.7556 DICE received 

This new method will make mining equal no matter what supported currency is used, or what game is played.

VIP Update

You will need to play with DICE instead of with EOS to increase your VIP level. Your VIP level will be based on the points you have earned when playing with DICE. You earn points when playing any game. Points = Wager x House Edge. (10,000 DICE wager playing dice: 10,000 wager x 1.5% house edge= 150 points)

All users will be upgraded to the next VIP level when this system is implemented (if you are currently VIP 5, you will start as VIP 6). 

After allowing some time for everyone to adjust to the new system, a daily decay rate of points earned for VIP level will be implemented. You will need to keep playing to maintain your VIP level. We will announce the details of the daily decay rate prior to putting it into effect.

DICE Jackpot

We will be adding a daily DICE jackpot. The winner will be the player that has achieved the most points in that day. The DICE Jackpot will be created from 5% of the house edge of all DICE wagers. 

Lottery Update

Lottery will no longer receive 1% of the house edge of all wagers. Lottery will remain in place, but the pot will come from only ticket sales. The Lottery drawing will be held twice per month.
(The 1% of house edge previously allocated to Lottery will be distributed according to our standard profit distribution guidelines)

Payout Pool Update

To smooth out the hourly payouts, the payout method will be adjusted to distribute 50% of the payout pool every hour. When this change is implemented, we will double the current payout pool to ensure there isn’t a dip in payouts from this change.

Example:

Hour 0: 1000 EOS in payout pool. We double the pool to 2000 EOS.
1000 EOS is paid out
Hour 1: Pool grows from 1000 EOS to 2100 EOS (1100 EOS increase). 
1050 EOS is paid out
Hour 2: Pool grows from 1050 EOS to 2000 EOS (950 EOS increase).
1000 EOS is paid out 

Profit Leaderboard Reward Removed

We're keeping the leaderboard so you can see who is winning the most, but the rewards are being removed. Isn't profit a big enough reward in itself?! Plus, proving that you're the most savvy player of the day!
(The 1% of house edge previously allocated to the Profit Leaderboard Reward will be distributed according to our standard profit distribution guidelines)

Wagers Leader Board Update

Several adjustment are being implemented for the Total Wagers Leader Board:

  • Changed from Hourly to Daily
  • Change prize pool from 8% to 5% of house edge

Changing to daily will allow for larger prizes, and is also better for some of the low volume tokens.
(The 3% decrease in the amount allocated from the house edge will now be distributed according to our standard profit distribution guidelines)

Our next focus is on Third Party Games.

We have been communicating with multiple game teams in regards to having them launch their games on our platform. There will be many different types of games released. It's our priority to ensure these games can be launched as soon as possible!

Some other items in process:

  • Hold'em is being updated based on community feedback
  • BitPie API integration
  • Wallet development 
  • UI re-vamp 

Regarding Announcements

We understand the community is extremely curious about what we're working on, and when they can expect to see changes. We also understand the frustration that is caused when we announce a release date and do not meet it.  Unfortunately, it's impossible to accurately estimate things in software development and doing so often creates unrealistic expectations.  We apologize for this, and will be more careful about releasing specific dates going forward, unless we are certain we can accomplish it. Instead, we will speak more broadly about what our focus is, without a specific deadline in place. We believe it is more important to focus on the quality of our products than to rush the release to meet a self-imposed deadline. We appreciate your understanding and your patience.

www.dice.one

Chat with us on Telegram! https://t.me/dice1_en
For all announcements, please subscribe and join https://t.me/dice1news 

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Fantastic news and nice job my friends! Go dice go!

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