Web3 startup Bullion Labs is revolutionizing decentralized gaming and finance through their innovative platform, The Game DAO. The project seamlessly merges an enticing game, a decentralized autonomous organization (DAO), and a staking portal, offering a distinctive and engaging user experience.
The Game: Chance and Transparency
The centerpiece of the platform, The Game, is an absorbing chance-based game in which players contribute a $3.30 BNB entry fee to a growing game pot. The Chainlink protocol evaluates the pot every seven days, checking for a minimum balance of 0.3 BNB. If the condition is satisfied, Chainlink VRFv2 technology determines a jackpot winner along with 20 runners-up, guaranteeing a just and transparent result. The game pot is then allocated among all participants in the following manner:
• Jackpot Winner: 50% of Game Pot
• Runners Up: 20% of Game Pot
• DAO Treasury: 20% of Game Pot
• DAO Members: 10% of Game Pot
The DAO: Enhancing User Involvement Through Ownership
The Game DAO heightens user involvement by allowing them the chance to own a part of the game. In addition to overseeing the game and its operations, DAO members decide which charities or web3 startups should receive funding from the game pot and are directly compensated for these efforts.
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To become a part of the DAO, users must hold a membership ERC1155 token, which can be minted here. The membership pass is priced at 1BNB to prevent spam and to make sure members understand their responsibilities and are committed to the project's long-term success. All proceeds from membership sales are directly deposited into the DAO treasury.
Game pot funds are strictly allocated for web3 grants and charities, but the DAO can utilize funds from membership pass sales for other objectives. Members can propose ideas such as investing in or acquiring blockchain technology firms, placing funds into yield-generating sources, and other beneficial endeavors that contribute to the growth of the DAO ecosystem.
Voting and proposal submission are straightforward, but members need to possess at least 10,000 $BNGX tokens to vote or create proposals. This requirement serves to reduce spam proposals and ensures that members have extensively discussed proposals in the relevant discord channels before submitting them for community voting. DAO members can adjust this threshold when the DAO is capable of passing votes with a 40% yes vote quorum. Members may also choose to increase or decrease this quorum requirement when the DAO reaches capacity. Details on the $BNGX token and membership pass distribution can be found on the website: https://www.thegamedao.com/
The Staking Portal: Encouraging Commitment with Rewards
The Staking portal is the mechanism by which DAO members can earn rewards. The staking contract promptly distributes deposits among all staked users based on the number of membership passes they possess. Users must stake all membership passes in their wallet for the protocol to accurately calculate reward shares. A 21-day minimum staking period is imposed to limit the supply of membership passes on the open market and retain value for holders.
Entry fees — There is a 10% platform fee ≈ $0.30 on each entry.
Membership Passes — There is a 10% platform fee ≈ $30 on each membership pass purchase.
AntiRUG — LP tokens for $BNGX governance token has been burnt at TX:
AntiRUG — Funds raised from ERC1155 membership pass sale is directly deposited to DAO treasury.
Bullion labs is currently airdropping 5,000 $BNGX tokens and 1 Membership pass to the first 1k players. Check out the game and become a DAO member!
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DISCLAIMER: THIS IS IN NO WAY, SHAPE, OR FORM FINANCIAL ADVICE, THIS ARTICLE IS MERELY FOR INFORMATIONAL AND EDUCATIONAL PURPOSES. CRYPTO CURRENCY AND ITS DERIVATIVES ARE RISKY. PLEASE DO YOUR OWN RESEARCH AND CONTACT A PROFESSIONAL FINANCIAL ADVISOR FOR FINANCIAL ADVICE.