WINR Protocol and Its Token: Revolutionizing the Web3 Gaming Ecosystem

As DeFi (decentralized finance) finds its way into the mainstream more and more every day, crypto casinos blaze ahead, overcoming the shortcomings of conventional crypto transactions. GambleFi is a narrative that has been going strong for the past year, with more and more effort put towards achieving fully decentralized solutions.

The groundbreaking WINR Protocol is doing exactly that, forging new paths and shaping the future of crypto gambling using cutting edge technology and innovations. We cannot wait to see what the future holds, so read on for the basics of GambleFi and a closer look at WINR Protocol - what it is, a quick overview of how it works, and how it is used to power a full online casino - JustBet.

Glossary

• GambleFi: Blockchain-based gambling that eliminates the middle man. It combines gambling and blockchain technology in a way that allows token holders to own part of the house.
• Web3: The concept of a new iteration of the internet which is based on ideas like decentralization and blockchain technology, as well as token-based economics.
• Throughput: The amount of processes that can be achieved through the blockchain.
• Layer 3 Blockchains: Blockchains that are built on top of other, more limited blockchains, with the purpose of facilitating additional functionality and performance.
• Blockchain Trilemma: The difficulty in achieving the best outcomes in the three main constituent parts of an optimal blockchain, i.e. Decentralization, Security and Scalability.
• DAO (Decentralized Autonomous Organization): An entity that uses blockchain technology and tokens to distribute governance power to individuals with voting rights.

The Problem…

The problem that GambleFi (and WINR Protocol specifically) is trying to solve is centralization - the fact that traditional gambling is entirely based on trust. This is how nearly all casinos work, whether brick-and-mortar or online.

With conventional crypto casinos, there is often the concern of tampering or unfairness, partly because for most games, the algorithm that determines the outcome is not available to view or check in any sort of way - you just have to trust all the involved parts:

• the providers - trust that they are developing fair games with fair algorithms
• the casinos - trust that they’re being true to the rules they are saying they adhere to
• the regulatory bodies - trust that they are keeping the casinos in check.

This is not to say that these parts are not doing their jobs, we just have no way of verifying for ourselves whether they do or do not. We have to trust that at some point during the process, checks are conducted and followed through.

Most casinos will go to some lengths to inspire trust by incorporating some sort of provably fair games in their offering (crash games). However, these are rarely as exciting as other types of games like slots, live casino games or game shows. Plus, this inclusion doesn’t exactly eliminate the need for trust - it’s just a way for a casino to say “hey, I’ve got these fair games, I’m hoping you’ll play my other games in the hopes that they’re also fair”.

…and the WINR Solution

WINR Protocol is a full-stack infrastructure that offers exactly what GambleFi is about: a decentralized solution that can process and handle all the moving components of online gambling without intermediaries, in a fast, secure, and transparent way, through the use of blockchain technology.

Essentially, it helps create an ecosystem of smart contracts with liquidity and incentives which can support various gaming applications, such as casinos and betting platforms, or even on-chain games. WINR Protocol functions as the foundation that allows the different elements of a gambling platform to interact smoothly in a transparent way: transactions, operations - even games and their outcomes can be handled on-chain, allowing you to verify their fairness yourself.

At its core, WINR Protocol is an infrastructure that can be used not only by crypto casinos, but also developers, game makers and frontend operators to propose the creation of cutting edge tools and products. The infrastructure of the protocol allows third parties to easily implement Web3 functionalities in their projects, so that they can afford to concentrate their efforts on creating a fun and engaging game experience without worrying about the Web3 aspect.

Developers are rewarded for their work with commissions from the player engagement - the more players play, the more developers make. This model ensures that the preferences of the users will have a major role to play in shaping its future, driving not only engagement but also profits.

In addition to this, token holders of WINR Protocol are actively involved in the decision making process through equal voting rights. This way, all of the stakeholders involved are ensured that the ecosystem will develop in a way that benefits them.

The process is as follows:

• Game makers use the WINR SDK to create their own on-chain game.
• They present their game to the WINR DAO (Decentralized Autonomous Organization).
• After the DAO’s approval, the game makers plug the game into WINR Protocol.
• Players are incentivized through $WINR.
• Game makers enjoy part of the revenue.
• Projects that are accepted become part of the growing WINR ecosystem.

WINR Chain

In September 2024, WINR Protocol went live with its own blockchain, WINR Chain, to optimize the functionality of products running on the protocol.

Using cutting edge technology, WINR Chain is a Layer 3 blockchain with high throughput, to allow for the creation of games and applications that operate at ultra high speeds. This is achieved through the implementation of Arbitrum Orbit (a customizable framework which can be used to build L2 and L3 blockchains, in order to make dApps that are faster and cheaper) and AnyTrust stack (an Arbitrum mode that enables secure and trust-minimized transactions).

Put all these elements together, and the combination makes for a compelling solution to the Blockchain Trilemma. In a nutshell, here are the most important features of WINR Chain:

• Cost-effectiveness: the chain’s design allows for drastically reduced transaction fees, bringing things down to a level that is accessible to a majority of people, both developers and users.
• Speed: the network has the capacity to process high volumes of transactions, resulting in potential for smooth gameplay, responsiveness and overall player experience.
• Reliability: the advanced infrastructure of the chain allows it to remain secure and resilient even while handling large amounts of operations.

All of this basically makes WINR Chain able to host an entire casino and provide a smooth, secure, decentralized and cost-effective experience for everyone involved, whether we’re talking about players or developers.

JustBet: WINR Protocol, Applied

JustBet is the first fully decentralized crypto casino, built on the WINR Chain. It leverages the technologies mentioned above, in an effort to provide speed and security in on-chain gaming.

JustBet has some great features:

• Does not require KYC
• Is available in all countries, regardless of jurisdiction
• Does not require sign up
• Is Provably Fair
• Offers instant cashbacks for buying and staking $WINR
• It supports a few cryptos (ETH, ARB, USDC, USDT, USDC.e and WINR) and more is expected

At the time of writing, JustBet’s offering appears very limited, especially when compared with Web2 crypto casinos. There are a few crash games, as well as table games and even a Horse Race game.

What is markedly lacking is their slot offering - arguably the most popular type of casino games. There is currently only one slot game and it operates on-chain, making it provably fair. However, development is ongoing and more betting services and games are expected to be added shortly.

The $WINR Token

The WINR Protocol has its own native token, WINR, which plays an essential part in the whole ecosystem, including JustBet.

The WINR token serves multiple purposes within the WINR Protocol. It provides liquidity, incentive, and it also serves as a gas token on the WINR Chain. On top of that, it grants holders governance rights.

WINR as a gas token is used to pay transaction fees, and part of the amount is burned during each transaction. This built-in burning process reduces the total supply over time, which helps increase the token's long-term value.

Moreover, games that have been accepted by the DAO and implemented into the WINR Liquidity Pool can reward players with vWINR, a vested version of the token. vWINR can be used to earn passive income if you stake it, or you can convert it to WINR, which you can use to trade with. Additionally, any project developed on the WINR Chain can use WINR to handle transaction fees.

• WINR on CoinGecko/Coinmarketcap

Conclusion

There is no doubt that WINR Protocol is a very interesting project. Its groundbreaking decentralized nature is paving the way forward for GambleFi and wealth sharing, standing to revolutionize the way that we gamble and perhaps even do finance.

With the WINR token at its core, the platform aligns the interests of developers, players, and stakeholders, in an attempt to create a sustainable and equitable gaming ecosystem. We’re excited to see where this leads, but as the gaming industry continues to shift towards Web3, we feel that WINR Protocol is very well-positioned to lead the charge, offering new opportunities for developers and players alike.