JustBet, a decentralized online casino built on the Arbitrum blockchain, will be launching its $WINR token using Camelot's fair-launch model on March 6.
$WINR is the native token of the JustBet designed to reward gamblers and provide liquidity to the platform. The utility of $WINR is to reward liquidity providers and those who mint $WINR, rather than just gamblers. They were inspired by the traditional cashback model used by online casinos, and they use a minting formula to ensure emissions match the profit generated by the smart contracts.
The platform will mint vWINR (vested WINR) on each bet using a formula that multiplies the amount wagered by the risk taken. Gamblers can lock their vWINR for 180 days and earn a 0.2% cashback on every amount wagered on the platform. vWINR can be redeemed as WINR after 180 days or after 15 days with a decaying penalty.