Exploring New Frontiers with Bullion Labs' Game DAO

Web3 start-up Bullion Labs is making waves in the decentralized gaming and finance sectors with their innovative creation, The Game DAO. The platform combines an exciting game, a decentralized autonomous organization (DAO), and a staking portal to offer a one-of-a-kind user experience.

The Game: Chance and Transparency 

The Game, a central component of the platform, is a game of chance that requires a $3.30 entry fee in BNB. The game pot grows with each participant, and every seven days, the Chainlink protocol assesses whether it holds a minimum of 0.3 BNB. If so, Chainlink VRFv2 technology determines a jackpot winner along with 20 runners-up, guaranteeing a fair and transparent result. Participants are rewarded as follows:

• Jackpot Winner: 50% of Game Pot

• Runners Up: 20% of Game Pot

• DAO Treasury: 20% of Game Pot

• DAO Members: 10% of Game Pot

Game Structure:

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The DAO: Empowering Users with Ownership

The Game DAO takes user involvement to the next level by offering an opportunity to own a share of the game. DAO members not only manage the game and its operations, but also decide which charities or web3 startups receive funding from the game pot, and are rewarded for their efforts. To become a DAO member, users must hold a membership ERC1155 token, which can be minted here. Each membership pass is priced at 1BNB to prevent spam and encourage members to be responsible and committed to the project's long-term vision. Membership sales revenue goes directly to the DAO treasury.

DAO Structure:

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While game pot funds are exclusively designated for web3 grants and charities, the DAO can allocate membership sales revenue for other purposes. Members can propose ideas such as investing in or acquiring blockchain technology companies, depositing into yield-generating sources, and other initiatives that contribute to the DAO ecosystem's growth.

Voting and proposal submission are simple, but members must hold at least 10,000 $BNGX tokens to vote or create proposals. This requirement reduces spam and ensures thorough discussion of proposals in designated discord channels before community voting. DAO members may adjust this threshold when the DAO is capable of passing votes with a 40% yes vote quorum. Members may also increase or decrease this quorum requirement when the DAO reaches capacity. Details about the $BNGX token and membership pass distribution can be found on the website: https://www.thegamedao.com/

The Staking Portal: Incentivizing Commitment

The Staking portal allows DAO members to earn rewards. The staking contract instantly distributes deposits to all staked users based on their membership passes. Users must stake all membership passes in their wallet for the protocol to accurately calculate reward shares. A minimum staking period of 21 days is enforced to limit the supply of membership passes on the open market and maintain value for holders.

Transparency Notes:

Entry fees — There is a 10% platform fee ≈ $0.30 on each entry.

Membership Passes — There is a 10% platform fee ≈ $30 on each membership pass purchase.

AntiRUG — LP tokens for $BNGX governance token has been burnt at TX: 0xfa5c07c4e0af38bacb60b3139ca2c7ed6b6185cccb327ddd296650c4be3a0e8e

AntiRUG — Funds raised from ERC1155 membership pass sale is directly deposited to DAO treasury.

Hot Tip:

Bullion labs is currently airdropping 5,000 $BNGX tokens and 1 Membership pass to the first 1k players. Check out the game and become a DAO member!

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_{Disclaimer: This is in no way, shape, or form, financial advice. This article is merely for informational and educational purposes. Cryptocurrency and its derivatives are risky. Please do your own research and contact a professional financial advisor for financial advice.}