GC Summer Update 2 — sCasino*
Introducing the Omni-Bankroll, house edge permits and more!
Hello friends and Geniuses, I’m very excited to share this latest release with everyone. Genius Contracts would like to introduce the new and upgraded sCasino*, which adds the Omni-Bankroll.
This is the killer feature in the release of sCasino*, the Omni-Bankroll allows any user to bet any FA2-compliant token in the casino. Feel free to add a new token to your UI, similar to Quipuswap. Each currency has its own separate bankroll, and sCasino* Bankroll Token so everything is organized by the smart contract. This means your utility coins, stable coins, wrapped coins, and even memecoins now have a new, Tezos-native use-case. The Omni-Bankroll release allows users to choose a house bankroll that exposes them to the least volatility during their bankroll investment.
During the initial release of the $GSAL-based sCasino, we noticed that bankroll investing is very lucrative over time, and APY% is bounded only by amount of traffic. Opening the bankroll to any FA2 token adds a whole new dimension to the casino, and has a number of implications for previous work, safety, and the future. Let’s discuss in detail.
sCasino* Bankroll Tokens
This is the cornerstone of the Omni-Bankroll. The role of these tokens is similar to “LP Tokens” in DEXs like Uniswap. These tokens represent your share in a specific house bankroll. Since any FA2 can have a bankroll, the Bankroll Token for the $RSAL Bankroll Pool will be different from the Bankroll Token for the $GSAL Bankroll Pool.
These Bankroll Tokens are also FA2-compliant, which means they can be swapped in a DEX, locked up in a farm, and even bet inside the sCasino*. I’m hoping there will be some interesting projects that integrate with the sCasino*. For example: one could create a FA2 token and bankroll pool, then create incentives for providing liquidity to their sCasino* Bankroll Pool along with the more classic option of DEX Liquidity Pool incentives.
This got far lower traffic than house betting, most likely due to the maker/taker architecture. It’s also cumbersome to interact with since you rely on another person. So to save on website speed, I’ve removed it. It probably won’t come back, but the way it works will be useful for a future project that GC has in store.. (🤔)
$GSAL, $sCAS, and House Edge Happy Hour
This release has effectively invalidated the two main sCasino tokens, $GSAL and $sCAS. There are already farms based on these tokens, and these farms will stay as they are, so that there is still some incentive to hold these tokens. The $sDAO committed to those farms will stay in place.
The sCasino* now includes a House Edge Happy Hour that applies globally across the sCasino*. Every 12 hours, there will be a 1 hour long Happy Hour where a low house edge will apply to all bettors. Otherwise, the normal house edge will be applied to bettors.
If a bettor wants low-edge games outside of happy hour, a House Edge Permit is available to purchase for 100k $GSAL tokens. The House Edge Permit gives the user 100 games with the low house edge. These are non-transferable permits and will only work for the account they are purchased on. Also, House Edge Permits are not used during Happy Hour. Use the Actions button to purchase permits. Your permit balance is shown when making bets.
$sDAO holders over 10k, you’ve been dropped a free House Edge Permit giving you free access to 100 low-edge games. Snapshot was taken this morning.
Schedule for House Edges is below:
- First 3–4 Days: 3% (Happy Hour: -0.5%)
- Next 7 Days: 2% (Happy Hour: 0%)
- Ongoing: 2% (Happy Hour: 1%)
- Long-term: Decided via DAO
You’ll notice that upon initial release, the casino actually has a reverse House Edge during Happy Hour, meaning that over time the bettor actually wins more than the house. This is balanced by a higher normal House Edge of 3%. In the future, we will let governance decide house edges and max bets via $sDAO votes.
Safety, FA1.2 and Decimals
Allowing arbitrary FA2 tokens is great for flexibility, but one should take into account the risks before investing in a Bankroll Pool or making bets. The normal DEX warnings for arbitrary tokens pools apply here as well: be wary of coins with full admin mint/burn rights, be wary of pools with only one investor, be aware of modified tokens. Otherwise, the invest/divest works very similar to the original sCasino and there is a low risk of any mishaps as long as the FA2 token is compliant. The base dice game has not changed.
The sCasino* only works with FA2 tokens, FA1.2 support is not on the roadmap at this time, but we do have a solution in the works to support them.
On decimals: you will not have a good user experience when betting or investing high-value FA2 tokens that have 0 or 1 decimal(s). Using division will always make this an issue, so try to stay away from using them. We have a fix in the works for this as well. We’ve tested the Bankroll Pools with coins from 0 to 18 decimals and they have worked fine, but during this initial release there may be UI or display bugs so please check against the contract to make sure everything is good.
Looking to the Future (aka next weekend)
Since this took all weekend, we’re pushing back the leaderboard, badges, and metrics update until next week. We’re looking to show latest games, top bankroll APY%s, top bettors, and unluckiest addresses. The token metadata for sCasino* Bankroll Tokens is also a bit ambiguous, so I think a page to organize them and show balances would be helpful as well.
Coming soon: 2 wrapper contracts that will help fix the FA1.2 and 0 decimal token issues. One wrapper will be FA1.2 -> FA2, the other will wrap and 0 or 1 decimal FA2 tokens into an FA2 token with 15–18 decimals (so you can get back to trading $wTaco as well. sorry 😢).
Next up on articles: another FounderJabba series going over the overall SalsaDAO vision, project tiers and $sDAO’s long-term role, and introducing our next-generation DEX, SpicySwap.