Flight of the Navigator Update v7
Well hello my wonderful Crushers! Before we jump into things, let’s acknowledge how rad it is we have almost 2M $CRUSH staked!! Also, even with our gas heavy staking pool, we’ve managed to burn almost 4k $CRUSH. The new game with Wizard definitely helps this process. Don’t forget you never know when we’ll seed the pot with 100+ $CRUSH so don’t miss out on that. You might be winning 100 $CRUSH just for showing up, especially in the down time.
As you know, we’ve been super busy and pushing extra hard, but we’re FINALLY ready to make an announcement.
We are preparing to begin live bug testing with members of our community next Friday the 20th!!
We will be announcing exact details next week so stay tuned for that.
Now, please understand this is a tentative start date, and we may need to be flexible by a few days, but we are pushing to hit this date. You all know by now if it’s just not ready we will delay, but we’re super close and giving ourselves next Friday as a hard deadline.
Early next week we post more about bug bounty, registration process etc, and will be in touch all week about whether we will be keeping that goal or if we need a bit more time.
We’re in discussion internally about changing how we talk about Bitcrush as a platform. Currently we’re considering moving away from “casino” and using “iGaming”, which is the industry standard. Additionally, we are much more than a casino, and are simply using casino as our first use case. Finally, we intend to introduce games outside of just gambling, as well as more DeFi projects etc. So we’re thinking about the term “DeFiGaming.” It does feel crowded as a word however, so we can break it up into DeFi-Gaming, Def-iGaming, Defi-iGaming, or something weird like Def:i:Gaming etc. Let us know what you think in chat. If someone comes up with something brand new that blows us away we’ll bless them 300 $CRUSH. Looking forward to seeing what you come up with!
I know people wonder what we’ve been doing this whole time, so let’s chat for a minute about some of the difficulties we’ve encountered in the process, how we’re approaching these issues, and why this makes Bitcrush the best DeFiGaming platform out there.
As we all recall, we ran into some unexpected gas fees with our auto-compounding staking pool. This issues has caused the fees to steadily increase over time as the pool grows and clearly is not a scalable solution. First of all we want to grow as a platform. Second, current pool is only distributing APY at the moment. Our V2 staking pool is much much more complex, and will require higher gas fees due to this issue.
What we’ve done is introduced a mechanism we’re calling the rolling batch auto-compounding distribution pool. The best way to describe it is we’re batching up game profits to be distributed in groups, therefore always keeping the fees lower. As an example, imagine there is gaming profits of 300 $CRUSH to be distributed, and we’ll imagine that there are 30 users evenly staked in the pool. We can batch these up in 3 groups of 10, and distribute the $CRUSH to each batch, 100 at a time, 10 to each player. This means the Bounty function will need to be called 3 times, therefore the bounty will be split up into batches as well, so that there is a reason to call the function 3 times. Imagine for explanation sake in this same scenario that the bounty was 1%. That means the total bounty to be claimed for all 3 batches would be 3 $CRUSH (1% of 300), and would be split amongst all 3 batches at 1 $CRUSH per batch. Meaning that the bounty would be one $CRUSH, and once claimed, the bounty would immediately be back to at 1 $CRUSH until it is called again. Once all batches have been distributed, the process starts all over.
A Couple side notes to all this. In that scenario, APY was not mentioned, but APY will work just as it does now. So in each batch mentioned above the real distribution would be pending APY + Gaming Profit, and the bounty would be Pending APY bounty + Game Profit Bounty. There will be a balance minimum for profit distribution as a buffer to avoid processing tiny profits in batches (as well as a few other reasons), and even if the profits have not yet reached their distribution threshold, the bounty function can still be called to distribute the pending APY without affecting the accumulating game profits. Also, as profits are paid out in batches, if you are part of batch 1, your pending rewards will be different than those in subsequent batches as you have been paid out already. Good news is this is all done via smart contract, so you never have to worry about being left out of batches.
Yeah, that was one of the more straight forward issues we needed to solve. A more complex one comes from us wanting to be as decentralized as possible. As you know, we are not a casino with crypto payments, but a DeFi protocol.
A major issue, one that we will be testing live with our bug bounty hunters, has to do with the platform gas fees. We decided early on that we want our Bankroll to be tracked via smart contract for transparency sake. That’s not super complicated, but what that means, is that our centralized games, which can run 10+ games per second per player, needs to be constantly reconciled with the blockchain, which currently runs about 3–5 seconds per block. A lot of things can happen between blocks, so we decided if we push data from the server to the blockchain every 5 seconds we should be ok. Sounds good right? Except a simple transaction on BSC can cost around $0.30-$1.00 per tx. So now we’re looking at about $12 per minute in platform gas fees. Plus, we are running batches of every players PnL every 5 seconds, meaning as we scale, we could be hypothetically paying $120+ per minute. It doesn’t matter how successful of a iGaming platform you are, that will never be sustainable. So we went back to the drawing board and have developed a variable based syncing approach that we are currently implementing and testing. Once we have that fine tuned, we’ll update the bug hunters so we can test live and then test and test again. Once fully tested, we’ll update everyone with the full details.
So let’s talk a bit our timeline and what to expect. We still have a tonnnnn of work and testing to so before next Friday, but assuming all goes well, we will be testing out our Live Wallet, Bankroll, and Staking Pool v2 systems with both Dice Invaders and at least one, but likely several, Dragon Gaming slots. At that time we will be submitting the contracts for audits. These contracts are fairly complex and will require some time. I’m anticipating approx 2 weeks for audits, but will update exact time when we receive a quote. We plan on taking advantage of that entire time to do bug bounty hunting, beta testing, and further development. Initial testing will be on desktop only, and mobile will be completed as audits are taking place. Once mobile is done, we will put together the Dice Invaders chat, as well as KPIs for internal tracking of game performance.
Once audits are finished, we fully anticipate being able to go live! This is definitely a process, but it will be a hands on process and we look forward to getting feedback from our entire community!
I can’t wait to share with everyone what we’ve been putting so much care and hard work into. It’s without a doubt, a one of a kind system, all with $CRUSH at the core.
I’m so excited to see where this takes us over the next few months. We have so many more amazing plans once we just go live. We’re almost there guys.
Stay rad and let’s all: