WINk is a blockchain gaming and social platform where users will be able to stake across multiple blockchain ecosystems. The decentralized platform already has a number of popular casino games and competitions. Users will bet with crypto in an ecosystem where odds are transparent and payouts in mutable and automatic.
Apart from providing this gaming experience, WINk will also allow external developers to build their own gaming depth on the platform. WINk actually already has quite a track record as it used to be called TRONbet, the first app that was built on the TRON network. TRONbet was a really popular data and there was a time at which it was the most popular dApp on the market and that includes all the dApps that have been built on Ethereum, EOS, NEO etc.
However, some have criticized WINk for being nothing more than another gambling dApp with no real innovation. So, what else does it have going for it?
Firstly, WINk does have unique user benefits that will keep the gamblers pretty happy. One of these is their raindrop mechanism. Through this, every single dApp that connects to the WINk ecosystem will share a portion of the winnings with users via the raindrop mechanism . The amount received by users is proportional to how many WIN they choose to stake. The raindrop will pay out every single day to users who stake and the payouts will be in TRX, TRON's token. So, this mechanism will incentivize other developers to build on the WINk platform.
Then, there is also a decentralized governance component. With this, players on the platform will actually have a say in how it evolves. Users can vote on important decisions that impact on the WINk ecosystem. Then, on top of this, you also have a number of benefits that the decentralized gaming dApp has over their centralized brethren. These include the following: gains work by smart contracts that are fully auditable. Users always have custody of their funds, all games and winnings work on crypto-currencies. So, quite a few benefits to using the WINk platform, but what about the utility token?
The WINk token will be used in the ecosystem to stake on games and receive payouts in addition to TRX. Moreover, those who steak with WIN on the network will also receive additional benefits in the future depending on how other dApps are created. These benefits might take the form of larger payouts, an increased mining rate or simply from a direct discount.
WINk tokens were sold through a Binance IEO, that is an Initial Exchange Offering, that took place in July 2019. They were issued as both an ERC-20 as well as a BEP2 - so that's on the TRON blockchain as well as Binance chain. There will be a total supply of 999 billion WIN tokens, although only 5% of the Total Supply was issued in the IEO. There will also be a number of air drops of WIN tokens to TRX holders over the next few months and years.
So, who is behind the WINk project?
Well, there is not that much information about the founders themselves, nothing on the website or in the Binance IEO prospectus. This is not always the best of signs but then again they are operating a gambling dApp which is used in China and hence could attract the attention of Chinese regulators.
Be that as it may, we all know that Justin Sun of TRON is a big back of the project and he will bring his unique marketing style to it for better or worse. In terms of trading, WIN tokens are currently only listed on Binance and DigiFinex and other smaller exchanges. However, over 43% of the volume is taking place on Binance which could present liquidity issues if ever WINk trading was to cease on the exchange.
Having said that, liquidity on the Binance order books is quite high, which implies easy execution of larger WIN orders. In terms of wallets, you can really use any wallet that supports TRON or TRX 20 tokens.
So, what do I really think of WINk?
Well, they have tried to provide a unique gambling platform that incorporates interesting reward systems and governance protocols. They've also built a platform look at incentivize external data development. Having said that, I can't really see how it clearly differentiates itself from a standard gambling dApp. For me, it seems as they have merely rebranded TRONbet and used the opportunity to issue their own token and run a currency sale, but hey that's just my opinion, you're free to make yours.
What do you really think of WINk? let me know if you think it really has potential.
Thank you!
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Thanks @Jane for upvoting my post.