Tokenomics
0xBets is a fully decentralized casino that enables users to place bets on various games and events using cryptocurrency. The platform is owned by MVX holders who participate in decision-making and profit-sharing. This unique structure ensures that the MVX community has control over the platform's development and that all holders benefit from its growth.
Decision making
As a part of our commitment to community ownership and management, we have established a transparent decision-making process. All strategic choices are put to a vote and each MVX holder can give their opinion on each decision. The voting process takes place on the Snapshot platform, through our other project space.
We strongly encourage all MVX holders to participate in the decision-making process and share their thoughts on the platform's future. To facilitate this, all votes are announced in advance on our Discord, Telegram, and Twitter.
In addition to voting, we welcome proposals from our community members. If you have an idea for improving the platform or adding new features, please submit a proposal to our team. We are always looking for ways to enhance the user experience and make 0xBets the best decentralized casino on the market.
Profit Sharing
Profit sharing is a key component of 0xBets' business model. As the volume of bets placed by players increases, 0xBets' bankroll also grows. This is because, like any casino, 0xBets has a house edge, which allows it to earn more money than it pays out in winnings. This house edge is illustrated in the image below:
| Game | House Edge | Return to Player |
|---|---|---|
Coinflip | 2.5% | 97.5% |
Dice | 2.5% | 97.5% |
Roulette | 2.7% | 97.3% |
Fortune Roll | 2.5% | 97.5% |
Therefore, the following applies:
0xBets' bankroll is reduced by player profits.
0xBets' bankroll is increased by player losses.
A percentage of player losses is paid to MVX holders, while the remainder is kept by 0xBets to ensure the casino's operation (e.g., to avoid bankroll bankruptcy and increase bet limits).
This means that MVX holders:
Govern 0xBets and Metavault.Trade.
Receive 30% of all fees generated by Metavault.Trade and a portion of player losses from 0xBets.
Overall, 0xBets' profit-sharing model is designed to benefit both the platform and its users. By encouraging investment and participation, it helps to ensure the platform's long-term success and sustainability.
To learn more about MVX tokenomics and reward distribution, please visit the following links:
Last updated