Official Links
Swap Venues ($PARTY token)
NFT Marketplace (Partyhat NFTs)
Thesis
Online casinos have become heavily commoditized with little differentiation between each platform. Stake, Roobet, Rollbit all offer similar gaming experiences and thus rely heavily on marketing spend and affiliates to draw new users. Rollbit tried a "Buy & Burn" mechanism, seemingly aligning platform interests with token holders, but failed to empower stakeholders to truly market the platform as their own. Instead of allocating 100% of the platform’s revenue to token holders, Rollbit opted for less: 30% from Crypto Futures, 20% from the Sportsbook, and just 10% from the Casino.Party plans to decentralize the online casino business model, return ownership to the people, and empower them to market, earn, and share in the success of the platform.
- No House, Direct Integration: 100% of revenues directly drive deflation of $PARTY token supply—bets result in a token burn, and wins trigger an immediate mint from the backend canister. This seamless, no-middleman system ensures transparency, efficiency, and instant settlements. As a result, $PARTY token holders now have an organic incentive to promote the platform amplifying the pre-existing motivation to promote one’s tokens (memecoins).
- NFTs as Equity Share: We have transformed the original NFT collection into stake-able equity shares (more in-depth breakdown below). Many already showcase these Partyhat NFTs in their X profile pictures, but now this organic motivation to flex on social media is paired with tangible compensation.
- Permissionless, On-Chain Affiliate: We’ve introduced a fully on-chain affiliate mechanism that rewards affiliates with 50% of revenues on every wager, forever.
According to Statista, the online gambling market is expected to exceed $100b in 2025, and grow annually at 5.42%. We believe that Party, powered by the Internet Computer, can make a mark in this industry with its novel incentive mechanisms, tokenomics, and rapidly expanding community!
Party at a Glance
Party began as a simple collection of 10,000 Partyhat NFTs in January 2024. Following extensive ideation and continued exploration of ICP’s capabilities, we evolved Party into the platform it is today. Partyhats is the official name of the NFT collection, $PARTY serves as the platform’s exclusive token, and the entire ecosystem we refer to as Party.
During its MVP stage, Party has already demonstrated significant traction and engagement:
- Total Burned: 1.72%
- Total Wagered: 4,509,919,128 $PARTY (~$300k)
- Games Played: 51,251
- Total Players: 634
Tokenomics
If a user was introduced to the platform through an affiliate link, the affiliate would immediately be minted 50% of the revenue (house edge) on each play and the rest of the tokens will be burned as usual. Everyone has an affiliate link, see the “Partner” tab in the bank dashboard to find yours!
Checkout this demo for a walk through of the game and affiliate mechanism.
NFT Staking
To compensate and empower Partyhat holders, we’ve introduced a simple staking mechanism. Simply hold your NFT in your account at partyhats.xyz during weekly snapshots. Ultimately, 25% of platform revenues will be paid out to staked NFT holders through weekly dividends (see calculations).
Weekly Dividend Calculation:
p_weekly_per_staked_nft = (k * (d_target - d_current)) / x
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k = 0.5: smoothing factor
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x: number of staked NFTs.
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y: current $PARTY token supply
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d_target = 0.25 * y
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d_current: Current $PARTY pool allocated to NFT holders (initially 2.5b $PARTY or 25% of initial supply). You can check the balance here uuqpc-dghbx-jaaob-m7xsm-lv6si-ylvft-skbug-yc6xo-6lejr-w2vl5-xqe
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Target Adjustment: The difference between the target dividend pool (d_target = 0.25y) and the current dividend pool (d_current) determines how far off the current pool is from the desired state. As more tokens get burned, d_target will decrease and tokens from d_current will be paid out to match d_target.
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Smoothing: The smoothing factor (k) ensures a gradual adjustment by distributing 50% of the difference weekly, helping to manage volatility.
Original Token Distribution
- 10%: Founding Team
- 10%: Marketing Treasury
- 15%: Developer Treasury
- 25%: NFT Equity Allocation
- 40%: Liquidity
Roadmap (tentative)
Implement Party Mines with burn-to-play, mint-to-play mechanismImplement bank dashboard to custody NFTs (EXT), $ICP, and $PARTYImplement permissionless affiliates mechanismLaunch NFT staking and weekly dividend mechanism- Launch all casino classic games
- Integrate swapping within platform
- Leverage chainkey to go multichain
- Integrate buying and selling of Partyhat NFTs on platform
- Audit and open source
- Launch SNS
- Leverage Party/Partyhats brand to:
- Launch NFT marketplace
- Sportsbook, and other gambling games
- etc.
More to come!