vWINR is designed to be the direct rewarding mechanism and a gateway to the liquid version of the dual token model, WINR.
Vested WINR, or vWINR, is a token that can be earned by placing bets on JustBet. The amount of vWINR received after each bet is determined by three factors, which are described in the following equation: vWINR Rewarded = (The amount that goes to the WINR Staking Contract) x (vWINR Multiplier) x (USD Value of the Bet)
The three factors of the above equation are explained below. The first factor is the percentage of each bet collected in the staking contract and used for rewards; how this amount is determined is explained in the Staking section. The second factor, the vWINR multiplier, adjusts the amount of vWINR awarded based on the volume of bets on the platform. This helps to maintain the scarcity of WINR tokens. The vWINR multiplier is recalculated after each epoch using the following formula:
If the volume change is positive:
New epoch’s vWINR multiplier = (Old epoch’s multiplier) * ( 1 - % change in Volume since last epoch)
If the volume change is negative:
New epoch’s vWINR multiplier = (Old epoch’s multiplier) * ( 1 + 2 * %change in Volume since last epoch)
As the formula suggests, the vWINR multiplier is inversely proportional to the volume on the platform.
Initially, the vWINR multiplier is set to range between a minimum value of 0.5 and a maximum value of 2. As another measure to control the inflation of WINR, the minimum and maximum values of the vWINR multiplier are halved at regular intervals to control inflation further. The table below explains how halving works.
The third factor in the equation is the parity between ETH and WINR, which is obtained using a price oracle.
There can only be 500 000 000 vWINR minted through platforms built on the WINR Protocol (winr.games).
After earning vWINR, it can be converted to actual WINR tokens using a process described in the next section.