The GemBites team is developing visually stunning and exciting gambling games that will use the GemBites (GBTS) token. Online gaming and gambling is an ever-green industry that is growing every day and it has been going through a paradigm shift as it transitions towards crypto. Along with it, blockchain technology allows for anonymity and trust in the gambling setup.
While this relatively new financial and monetary system keeps growing in momentum across the world, they are positioning ourselves to become pioneers in the crypto gambling industry. They will run a decentralized mobile application market and enter new grounds where crypto gambling can be taken on – such as VR and smart watches.
GemBites are all going to be provably fair and will take advantage of blockchain technology and smart contracts to bring about trust and democratize every aspect of online gambling. In addition they plan to make 6 more gambling games, an invetory system with a marketplace and more!
Also get 500 points for each referral up to a maximum of two referrals.
Complete the remaining tasks to get up to 10,000 points.
Every 1,000 points are worth 1 GBTS.
You will get up to 10 GBTS if you complete all the tasks.
GemBites is Setting a Unique Industry
Built on Polygon, allowing rapid transactions with low gas costs. Building natively on Polygon also allows for interoperability with EVM based blockchains such as Binance Smart Chain, Enjin’s Efinity, Fantom and other non-EVM chains such as Polkadot.
Featuring fun and engaging games, with some of the industry’s best picks like BlackJack, Limbo, Keno and Dice. As an added bonus, players can participate in passive games such as NFT collecting and lotteries.
One of the most unique decentralized casinos ever seen. Everything from house funds, to game contracts are run on the blockchain, with no possibility of third parties skewing the odds.
Fully open sourced, meaning you can verify our code and contracts to ensure that you are being treated fairly.
True, non-manipulatable on-chain RNG powered by Chainlink Verifiable Random Function (VRF).
Initially planned to have 7 fully decentralized games, an NFT marketplace/trading platform built on Polygon OpenSea, a mobile app and a VR casino in the near future.
When Can Play
GemBites is planning a Testnet launch in July to allow time to get multiple audits before launch. We are doing this to prevent the loss of user funds due to exploits. If all goes according to plan, you can expect a Mainnet launch by August.
Developer tokens will be put in a timelock contract. They plan on doing a 40/30/20/10 % release across the span of one year to prevent concentration and price impact. Moreover, a major part of unsold tokens will be burnt to further reduce the circulating supply.
GemBites is going to use Polygon, which is a protocol and a f rameworks for building and connecting Ethereum compatible blockchain networks, they are going to mitigate these limitations while still leveraging on the Ethereum’s thriving ecosystem. Polygon Network is a Layer-2 scaling solution that utilizes side-chains for offchain computation, while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators. With a more robust framework to facilitate a higher throughput of transactions per second at a lesser cost, Polygon Network is providing the resources necessary for GemBites to develop a more decentralized gambling environment.
Polygon sidechains are Plasma-fied sidechains, which have the following properties:
Off-chain execution of transactions to ensure higher throughput and low cost transfers;
Periodic State commitments to the Ethereum mainchain to ensure finality on the mainchain and ensuring assets can be withdrawn even if the sidechain gets compromised;
Exits to transfer the assets back to the Ethereum mainchain.
GBTS token stakers are granted perks on GemBites, including a reduced house edge and 100% of casino profit being distributed to stakers. Additionally there will be a multiple tier system where the longer you stake the higher your multiplier will be, thus the more GemBites you will receive back!
Reduce the House Edge
Stake GBTS tokens to receive a lower house edge on the games—down to 0.5% Remember, the moment you unstake, you will lose your right to claim your portion of the casino profit. Unstaking will also affer your house edge reduction back to the standart one.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.