Casinos are entities programmed to make money. When you go into a casino, you are bound to lose money. Online or offline, it doesn’t matter. The odds are not in your favor. Blockchain provides an opportunity to decentralize casino algorithms and make it fully transparent so its fairness can be mathematically proved. We can now see if the machines are fair or not but that doesn’t change the fact that house edge remains in positive for casinos.
We are now launching a crypto gambling game with a negative house edge.
WTH is a negative house edge?
Negative house edge is a feature which you haven’t seen anywhere else before. It puts the odds in your favor by giving you clear mathematical advantage over the house. To put in numbers, a roulette table at a regular casino will have a 5.26% house edge over you. So it’s not really 50/50 as it is portrayed. Another example from the crypto world would be the more moderate 1 or 2% house edge for the bitcoin crash games. SLAM clearly stands out with its -1% house edge algorithm that makes it way easier for you to win.
But, how can this model be sustainable?
A lot of tokens are doing giveaways or airdrops for marketing and awareness. Our significance which is the negative house edge, separates us from the rest. It is our biggest marketing power. Also it’s the heart of our business which is putting our community before anything else.
Our casino will win or lose occasionally. Mathematically, in the long run it will lose more than it wins BUT, our contract is structured to keep to token flow coming for the casino. Also we will have maximum withdrawal limits a day to be able to manage the in and out token flow. Meaning the bankroll won’t go bankrupt. Creating an environment that favors the players but also sustains itself.
For now $SLAM is the only token you can play with in the casino. But we are planning to add BNB in the upcoming future as well.
$SLAM is the governance token of the gambling ecosystem of Slam. It is a deflationary token that distributes rewards to its holders for holding $SLAM in their wallets.
With each transaction, %5 of the transaction amount will be distributed amongst $SLAM holders. And also an additional %5 of the transaction amount is locked to be sent to the liquidity pool which helps creating a more stable and secure trading environment that the community will be able to preserve.
Total supply of $SLAM will be 1.000.000.000.000 tokens. 300.000.000.000 from the total supply will be allocated to presale on DxSale. PancakeSwap liquidity percentage will be 75% and it will be locked.
Total of 300.000.000.000 tokens will be burned from the supply. During the launch 125.000.000.000 tokens in total will be burned instantly. And after the launch, manual burn will take place for the remaining. 120.000.000.000 tokens during the 7 cycles of community milestones. 7 cycles of burning will take place manually. Gradual burning cycles will allow for price to increase at a stable rate, provide liquidity and of course celebrate holders milestones.
15% of the total supply will be allocated and locked(vesting period) for the casino bankroll. And it will be partially unlocked over the next 4 weeks according to vesting schedule. If the bankroll goes below a certain amount due to the players winning, house edge will be adjusted accordingly until the bankroll’s liquidity reaches a stable level.
7.4% will be allocated to development, marketing communications and the team. They will be unlocked equally 4 times over the course of 4 weeks. Adding new games, building $SLAM’s social media presence and of course listing at exchanges will be our priorities.
Only casino with a negative house edge, ever.
So how does the casino work? First you need to swap BNB for SLAM tokens on PancakeSwap. Once you have SLAM tokens in your MetaMask wallet you then need to visit our website and click ‘Play’. On the right hand of the screen you will see the connect button which you will use to connect your MetaMask account to be able to instantly play in the casino. Your SLAM tokens will automatically show up under your account meaning you are ready to roll.
Provably fair algorithm and a negative house edge put the odds in our holders favor. Only $SLAM can be used in the casino. Liquidity generation for $SLAM bankroll will be secured through the contract.
We have been working for a long time to get ready to launch SLAM token and our casino platform. And of course we will be adding new games to the casino as we cruise through the next couple of weeks. So always be on the lookout for updates at our Telegram channel or Twitter.