Dominance is a decentralized application on the IOST blockchain. By developing a provably fair online gambling and gaming platform, we aim to provide a stable and consistent passive income to our community members and players in the most entertaining and enjoyable way possible.
By carefully studying and analyzing the successes and failures of existing gaming and gambling Dapps (decentralized applications ) over the course of several months, we have been able to come up with a unique and creative approach to developing the trending casino Dapps while also introducing unique gambling and gaming applications exclusive to our platform. This responsibility is shouldered by our seasoned team of developers who have in-depth knowledge and experience in the gaming and blockchain sector.
2. The Dominance Objective
We intend to offer all popular and trending Dapp casino games and also have plans to further expand our Dapp collection with new and unique games over time and all while making the games more lucrative for players to play.
While it is very obvious that gambling Dapps attract the most attention and players to the Dapp space; a statement that holds true across several blockchains like TRON and EOS, we are of the opinion that these gambling dapps do not accurately validate the full potential of the iOST blockchain.
To tackle this situation, we are currently developing alongside our gambling dapps, multi-layered applications which are nongambling related but provide stable daily dividends just like existing gambling dapps. These new applications are aimed to dwarf the gaming and gambling sector of Dapps over time and provide a stable and sustainable universal basic income in a way never before conceptualized.
3. Dominance on IOST Blockchain
IOST is a high-throughput blockchain and a decentralized infrastructure platform for online service providers with smart contract functionality. IOS stands for “Internet of Service,” and is capable of 100,000 TPS ( transactions per second ). This makes it the blockchain of choice especially when compared to TRON which does 2000 TPS and ETH with 25 TPS.
In addition, the POW/POS ( Proof-of-Work / Proof of Stake ) model is far inferior to the (POB) Proof-of-Believability consensus algorithm of iOST and this makes it possible to have far cheaper transaction fees on the iOST blockchain. Clearly, iOST stands out amongst the competition in terms of scalability hence, with the experience possessed by our development team spanning across multiple blockchains, Dominance will launch on the iOST blockchain.
4. Dominating the Competition: Our Goals
● Offer a vast collection of the industry’s most popular mining games and more unique games exclusive to our platform.
● Provide a wide array of traditional blockchain applications that will back both dividend generation for the div pool and also facilitate the appreciation of the UBI token value and the subsequent buyback program.
● Achieve Node status, with node rewards balanced to feed our token buyback and burn program.
● Develop our own Internal Decentralized exchange coupled with an Auto-buyback feature. Our internal DeX will also provide “trustless“ peer to peer OTC sales of UBI tokens slightly above the buyback rate. Support for listing external Dapp tokens will also be a top priority.
● Relinquish 75% of the house profits as dividends to be distributed to all token holders. These dividends will be structured in a way that benefits players and miners alike. A significant portion of daily accumulated dividends will fund the buyback feature.
● Integrate iUSD, iOST’s newly launched Stable Coin exchange for seamless adoption and welcoming new players across blockchains.
5. UBI Token
UBI stands for “Universal Basic Income“ and the UBI Token is the lifeblood of the Dominance ecosystem. The UBI Token serves as the dividend-sharing reward token for both our community players and investors. They earn these tokens by playing our games and commit themselves to us by staking their earned tokens on our platform in return for dividend payments. Daily accrued Dividends will be paid out every 24 hours without fail and thus, our community players and investors are able to earn basic income passively on a day to day basis.
The total supply of our UBI token is limited to 200 Million and no new UBI tokens will be created ever again. The UBI token also has a unique “deflationary“ feature. This simply means that over time, the total supply of the token will continually decrease. This “deflation” will occur via token transfers as every UBI token transfer will incur a 3.3% “deflationary burn”. This transfer token “loss” will be offset by daily dividends received. Furthermore, the Dominance team intends to execute a “buy back and burn“ program to further hasten the decrease in supply and aid token scarcity in the long run. This will further raise the value of the token as time progresses.
6. UBI Token Distribution
70% of UBI Tokens will be made available only through mining. 15% will be allocated to the Dominance team while the remaining 15% which has been relinquished by the team will be allocated as house equity offering for the community to purchase.
Thus, of the 200 Million UBI Tokens available 140 Million tokens will be mineable in 100 stages with each stage having 1.4 Million tokens available. 30 Million UBI tokens will be allocated to team Dominance while the remaining 30 Million UBI tokens that were relinquished by the dominance team as house equity offering will be put up for sale to the community at 1.46 IOST per token. This is to ensure that our loyal members and players also get to share in the house edge.
● Total token supply: 200,000,000
● Mineable Supply: 140,000,000
● Dominance Team Token Share: 30,000,000
● House Equity Token Share: 30,000,000
● Stage 1 - 10,000,000 at 1.46 iOST PER TOKEN - Soft Cap
● Stage 2 - 20,000,000 at 2.93 iOST PER TOKEN - Hard Cap
Reaching our set soft cap and hard cap goals will provide us with the necessary liquidity to facilitate the development of our games and applications in the shortest time frame possible while abiding by stringent quality control standards. Safety and security of our applications is a top priority so compromise in any area is not an option. To this regard, our team will be working closely with the Core iOST team to ensure we release the best quality decentralized applications on the iOST blockchain. Also, all funds raised exceeding the equity offering soft cap will be held by an iOST core team member for transparency, accountability, and custodianship.
75% of the house profits accrued from the daily use of our Dapps by players will be distributed as dividends to all UBI token holders proportionately every 24 hours. This is our way of rewarding our community players and investors with that daily recurring universal basic Income as it also further encourages them to engage more frequently with our Dapps.
A further 10% out of this 75% house profits, will be set aside by the Dominance team to carry out a token “buyback and burn”. The remainder 25% will be utilized for the maintenance of our decentralized applications and also develop and seed the other multi-layered applications and games. We expect this to further fuel the “ buyback and burn“
In order to receive the daily dividends, the UBI tokens holders must ensure to keep their UBI Token in their wallets for an initial 24 hours before they will be able to start collecting their daily dividends which will then be claimable on the Dominance website.