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Staking
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$VEGAS holders can stake their tokens in order to receive UST rewards from the casino’s revenue.
$VEGAS holders can stake their tokens in order to receive UST rewards from the casino’s revenue. The amount of $VEGAS a wallet owns represents its share of ownership of the protocol. 100% of the revenue gets redistributed to the stakers in the form of $UST. This gives people a passive stream of income, in comparison to giving them rewards in $VEGAS itself.
Because of the way the protocol is designed, the treasury is always profitable long-term. It also keeps the user in mind, and has a provable fair, randomness. The protocol has a 10% winners fee(on profits). Eg: If you were to make a $10 profit on a $100 bet, the protocol keeps $1 and the user gets $109.
The $VEGAS token also acts as the governance token for the Vegas Dao. The DAO also has control of the treasury, and it’s other yield accrual strategies. Governance will also play a key role in the future of Vegas. Staking $VEGAS lets users take part in governance.
As more $VEGAS is staked, it is removed out of circulatory supply, and people get increased treasury rewards. This puts upward pressure on $VEGAS and will help it’s long-term price action.
Unstaking $VEGAS has a cooldown period, and by default is set at 10 days. This is set as a parameter in the contract and is managed by the DAO. The unstaking period is to ensure whale manipulation doesn't occur, and this also promotes long-term staking for the protocol. By default
100% of all revenue coming from the players' taxes is distributed to stakers proportional to their share and staking duration. The revenue that the players pay as tax to the casino is set by default to
10% of their wins. All this amount is distributed to the stakers to claim. The tax percentage (10%) and the stakers dividend (100%) are both parameters in the smart contract set initially by the admin and voted on afterwards by the DAO stakers.
Stakers can claim their UST rewards without unstaking the
$VEGAS tokens. $VEGAS can be staked for any period and unstaked at any moment. When the user wants to unstake their tokens, they receive the unstaked amount after the locking period during which they cannot stake new tokens. Locking period is set as a parameter by the admin and later by the DAO, with default value being
3 days.
All unclaimed rewards are automatically claimed when the user withdraws all staked tokens completely.
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