Winr protocol is a decentralized liquidity and incentive protocol that is built for blockchain games. The Arbitrum-based protocol provides liquidity for on-chain games and gamers in its ecosystem.
Winr is best for on-chain versions of casino games, sport betting platforms, metaverse games, and other virtual reality entertainment models that require users to engage, have fun, and be rewarded.
Due to the unique nature of Winr, it is designed with specific features such as a burning mechanism, dual token system, swap mechanism, bribing, emission distribution, and balance to create a deflationary ecosystem.
How Winr protocol works
There are three basic structures on which Winr is designed to suit – developers, gamers, and investors.
Developers can build their games using the WINR Protocol smart contract game engine which provides faster finality and a good user experience for gamers.
Once a gaming project is ready, a proposal is sent to the Winr DAO to receive approval for the project to be added to the liquidity pool. Once permission is granted and the game is released, players of the game can enjoy a series of rewards given from the Winr liquidity pool.
Apart from rewards players get, Winr also offers incentives to developers which they can either keep or share with players of the games they release.
Players are given access to games on Winr where engagement, plays, and rewards are settled on-chain and almost immediately. With the use of decentralized oracles and smart contracts, players are assured of a transparent system of incentivization.
Investors like gamers, their liquidity is placed in a safe decentralized system that is used to attract projects into Winr. As more projects come in, expectations are that ROI for the liquidity can increase as the Winr token also increases in value.
Liquidity pool and DAO of Winr
The pool structure of Winr is designed to accommodate different kinds of ERC20 tokens at the same time. Also, the input currencies (the asset used to gain access into Winr) and output currencies (the asset used for receiving incentives) are changeable depending on the overall asset combination of the liquidity pool.
Thus, players in a game can be required to play the game using token A and when they want to withdraw their rewards, they can use token B. This is possible because of the swap mechanism built into the Winr protocol.
To create a balance between all assets used in the Winr ecosystem, the Winr DAO, the decentralized governing body of Winr, uses a series of rebalancing procedures such as bribes, emission formulas, and fees, to keep the liquidity pool in equilibrium. This prevents the over-dependency of the ecosystem on one token or teams or players on a platform connected in the Winr ecosystem tied to one token at a time.
Tokenomics of Winr
The WLP ERC20 token is the underlying asset in the WINR Liquidity Pool. WLP is a liquid token that can be used as collateral, as well as for farming purposes. WLP is designed to increase in value as players lose tokens in the Winr ecosystem. Users can buy or sell WLP tokens using the Winr smart contract address for fees ranging from 0.15% to 0.75%.
Also, there are the WINR and vWINR tokens. WINR token is the native token and initial incentive of the WINR Protocol. Winr protocol releases a portion of the WINR token as a reward but in the form of vWINR (vested WINR). Holders of WINR and vWINR can earn WLP tokens by staking their assets using the Bribes mechanism. vWINR is convertible to WINR by vesting it for at least 180 days.
For every entry transaction, such as a bet, into the Winr ecosystem, a vWINR token is minted. Users who stake their WINR and vWINR tokens are rewarded with WLP tokens and staking vWINR tokens is more profitable than staking WINR tokens.
Roadmap of Winr
The WINR protocol started in Q1 of 2019 with planning, structuring, and simulating the framework until Q1 or 2022. Between Q2 of 2022 and Q1 of 2023, the team planned to focus on building and testing the protocol to see its efficiency, error, and strength which will be further worked on.
Furthermore, the release of Winr testnet, reception of feedback from its users, auditing, the launch of Winr token on Camelot, trading of the Winr token, and release of JustBet, the first project on Winr protocol is planned for Q1 of 2023.
In Q2 of 2023, liquidity providers should expect more incentive programs launched for WLP; 0xsportsbet will launch its testnet; the addition of newer games and newer ERC20 will be seen as well.
At the third quarter of 2023, there will also be the introduction of: DAO liquidity providers, concentrated liquidity for WLP, and more ERC20s into the Winr ecosystem.
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