Decentralized applications are notorious for not having users, but a newly launched gaming platform on EOS disproves the standard. Within hours of launching, EOSJacks had begun its ascent to the top and in just a couple days, it had the highest 24-hour EOS volume.
This is the first time a decentralized application has done so well in such a short period of time! The metrics are available at DappRadar.
The model of operations used by EOSJacks should serve as a good base for rising developers in this technology sector. It shows that tokens don’t necessarily have to hold back the platform and can instead enable the platform to be better than their non-tokenized competitors. EOSJacks managed to do so by making its JKR token feel like a reward for playing its main game.
Beyond that, the game remains primarily in the hands of the community while still having a very simple UI. Blockchain-enabled developments need to core around these factors.
How did EOSJacks Achieve this?
EOSJacks allows you to mine the JKR, the native token of EOSJacks. Game to mine means you win even when you lose because win or lose, you will get JKR just for playing. It gets consistently harder to get more JKR tokens so early players will be able to claim JKR tokens easily and at large amounts. Instead of an ICO, EOS is played to get tokens; so, if anyone wants a stake in the future success of EOSJacks, he/she has to actually play the game.
No game is fun if you don’t have other plays to play with and that’s why EOSJacks has been able to do so well in such a short period of time. The platform’s users have skyrocketed so quickly that gamers have plenty of competition around the clock.
They kept it simple, friendly to the average player, and mostly free.
The secret to their success is likely the fact that the platform brings together 3 of the most popular decentralized games into 1 page. There’s a dice game, a FOMO-like jackpot game, and an auction match. The interesting thing is that access to the jackpot and auction is free. It’s free because of how the token works, and this is where other developers need to take note.
There are no barriers to entry and this again is something others need to take note of. To get started, you need just a little bit of EOS; even a couple dollars’ worth is enough! The game is friendly to everyone so it’s fine if you don’t have a lot of EOS; just a bit is enough to get started.
The first game on EOSJacks is a standard dice game. You can spot the incredible volume being generated by other users on the lower half of the front page. Playing this game allows users to get tokens for free; tokens that actually give access to two other games.
You roll to mine.
Each time you roll the dice, you have to play with some EOS; it can be a very tiny amount. Here’s an example of user playing with just 0.5 EOS. By playing the dice game, this user was able to mine JKR tokens.
The Dice Game is straight-forward.
You pick your odds, place your stakes, and claim the reward if you win. Irrespective of whether you lost or win, you will get JKR tokens. So, instead of running an ICO, EOSJacks allows you to play the game to get its tokens; it’s the only way to get the tokens. So, if anyone thinks the platform is going to succeed in the future and became an established decentralized gaming application, then he/she has to play the game to get the JKR tokens.
There is no ICO; playing the dice game is the only way to use EOS to get tokens.
As more JKR gets mined, it gets exponentially harder to get JKR tokens. So, the supply output is going to constantly decrease at an accelerating reduction. Thus, early players are getting a great discount on their JKR as less EOS needs to be played to get the tokens.
Constantly, a small fraction, 12%, of the house edge will feed an auction pool of EOS. This auction pool constantly grows until it has been won; then the pool begins to be replenished once again.
The player who places the highest bid for the auctioned EOS wins ALL of the EOS in the auction.
JKR tokens are used to bid on the auctioned EOS. To win, a player must have more JKR than everyone else participating in the auction. Given that presently JKR tokens cannot be bought and have to be mined, the heaviest miners (via dicing) are the ones winning for now. If you lose the auction, the JKR you used in the bid is not returned.
While dicing is the main game and is done through EOS stakes, JKR tokens serve as they fuel for participating in auctions. Players who want to dice just for the sake of dicing, JKR tokens are just a free bonus on top of the fun they get from dicing. For such players, participation in the auction will feel free.
One of the most popular Ethereum dApps was FOMO 3D. EOSJacks has developed a new version of the game, one that should eventually end.
Some backdrop: Ethereum’s FOMO 3D has been concluded once by a brilliant individual who took advantage of Ethereum’s limited transaction capabilities.
EOS, however, can process magnitudes more TPS than Ethereum and so a FOMO 3D-style game would never end if placed on EOS. Thus, EOSJacks has tweaked the game such that each key costs more than the previous version.
Once again, JKR tokens are given a utility as they must be used to buy keys that give access to the jackpot. 12% of the house edge feeds the jackpot pool and currently the jackpot has built up to a whooping sum valued at over $100,000. For players who dice for fun, the JKR is a bonus that will provide free access to the jackpot.
Keeping it Decentralized
EOSJacks has built the platform in such a way that the profits roll within the community. While 24% of the house edge feed two of the games that can be accessed through JKR, 20% is held for referrals and 40% is distributed to JKR holders as dividends.
The platform only takes 16% of house edge on operating costs. This comes down to an average of 0.32% of volume being collected as an operating cost, which is quite legitimate.
The vast portion of the house edge is feeding dividends. EOSJacks is aligned with its goal of being a decentralized gaming platform for the community. The community mines JKR, they control the growth of the auction and jackpot through their mining, and then they then collectively claim the vast portion of the house edge as dividends.
Such a development is a leap forward in terms of blockchain-enabled platforms; EOSJacks is integrating complex code and mathematical problems but the UI remains extremely friendly, a challenge many projects fail to overcome.
On top of this, the platform keeps all the power in the hands of the community, they are incentivized to market the platform and to then share collectively share its earnings; they control the game’s growth as everything cores off the dice-based mining.
🌐 Website: https://eosjacks.com/