What is Gelotto?
Gelotto is a luck-based gaming platform that is planned to launch in the third quarter of 2022. Gelotto will initially offer lottery games for various assets accessible to the IBC (the Inter Blockchain Communication Protocol), including ATOM, OSMO, JUNO, SCRT, STARS, and GLTO (Gelotto’s native token). After the initial launch, Gelotto plans to add other games of chance, such as blackjack and slots.
Objective
The objective of this article is to present Gelotto’s plans for development during the coming year – a “roadmap” of things to come.
The GLTO token was distributed to owners of various IBC assets via an airdrop that became available on July 21, 2022. The Gelotto platform is planned to launch in August of 2022, first on testnet (with incentivized community participation to facilitate testing), then on mainnet when the first lottery games for IBC assets will become live.
Gelotto intends to heavily involve GLTO investors and the IBC community as a whole in the development process.
Roadmap – Year 1 Summary
Q3 2022
- Launch Gelotto platform on testnet
- Launch Gelotto platform on mainnet
- Begin monthly airdrops of rare secondary asset “GKEY” to GLTO holders for Grand Prize game
Q4 2022
- Add “Mega Jackpot” games to Gelotto platform
- Add blackjack games to Gelotto platform (possibly slots as well)
- Introduce the ability to “stake” GLTO to play as “the house” in blackjack games (and possibly other games)
- Initiate a validator on the Juno network
Q1 2023
- Create a DAO to act as governance and allow staking of GLTO
- Add Roulette games to Gelotto platform (possibly craps and/or video poker as well)
- Initiate a validator on the Stars network
Q2 2023
- Add NFTs for purchase and as prizes and incorporate boosts to various games based on NFT ownership
- Add games that allow placement of bets using NFTs
Q3 2023
- Commence the first annual Gelotto Grand Prize game involving the distributed GKEY asset
Q4 2023
- Add multi-player games to Gelotto platform (such as poker)
- Add games of chance based on real-world events to Gelotto platform (such as sports betting, animal races, etc.)
Roadmap – Year 1 Details
Q3 2022
In August of 2022, Gelotto plans to launch the Gelotto platform on testnet, using an initial set of IBC lottery games for testing purposes.
The Gelotto community will be invited to participate on the testnet version of the platform to help ensure that the platform functions correctly and securely, locate bugs, and provide suggestions regarding features, user interface aspects, appearance, or any other improvements to the platform.
Participants in the testnet version of the Gelotto platform will receive GLTO tokens, and potentially other incentives (such as NFTs). These incentives may be awarded both for participation using the testnet version, and as “bug bounties” for discovering errors.
Launch Gelotto platform on mainnet
By the end of the third quarter of 2022, Gelotto plans to launch the Gelotto platform on mainnet, at which point an initial set of IBC lottery games will be live, and participants will be able to purchase tickets for a chance to win jackpots.
Different types of lottery games will be offered. Initially, the available variations on lottery games will include different IBC assets, purchase price per ticket, timeframe for recurrence (hourly, daily, weekly, etc.), number of winners, and method of prize distribution if multiple winners are selected (e.g., equal or non-equal prizes for winners).
Participants will be able to purchase tickets for a lottery game using the IBC asset that pertains to the game. When the time period for recurrence of a game ends, random winners will be determined, and prizes will be awarded based on the parameters for that game. The process will then repeat as the game recurs. Some lottery games may be small and recur frequently, such as hourly, while larger games may recur daily, weekly, or another selected timeframe.
When the platform launches, some lottery prize pools may be incentivized by adding GLTO tokens and/or NFTs to the prize pool.
See the links below to the Gelotto Whitepaper and blog article for more detailed explanations regarding lottery aspects of the Gelotto platform.
Whitepaper: https://blog.gelotto.io/gelotto-cryptocurrency-based-games-of-chance-governed-by-smart-contracts
Blog article: https://blog.gelotto.io/building-a-lottery-game-smart-contract-on-the-juno-blockchain
After the launch on mainnet, various features may continue to operate on testnet for continued testing and improvement.
Gelotto intends to receive suggestions regarding games, features, user interface aspects, and other aspects of the Gelotto platform from both testnet and mainnet participants as a continuous and ongoing process to improve the platform.
Begin monthly airdrops of rare secondary asset “GKEY” to GLTO holders for Grand Prize game
During the course of the year, Gelotto will distribute 1000 rare secondary tokens (GKEY) to holders of the GLTO token. Monthly snapshots will be acquired. Each wallet that holds at least a certain amount of GLTO will receive a small amount of GKEY.
GKEY may also be distributed as incentives to liquidity providers who provide GLTO to liquidity pools on Osmosis Lab (frontier.osmosis.zone) or Junoswap (junoswap.com).
GKEY is a separate asset from GLTO that may be separately traded, provided in liquidity pools, and so forth. The primary purpose of GKEY will be for use in the annual Grand Prize game, in which a sufficient amount of GKEY may be used to win lucrative prizes.
When the Grand Prize game commences, participants who have a sufficient quantity of GKEY may burn that quantity of GKEY to “unlock” a “chest” and obtain the unknown prize that corresponds to the chest. Prizes are intended to have a value of at least 50,000 USD, and the Grand Prize game is intended to include a 10-100 BTC grand prize.
See the link below for a detailed explanation of the first annual Grand Prize game:
https://blog.gelotto.io/grand-prizes-for-gelotto-a-chance-to-win-10-100-bitcoin-playing-games-on-the-juno-blockchain
Q4 2022
After the initial lottery games are confirmed to be functioning in a secure and efficient manner, weekly Mega Jackpot games will be initiated.
For each standard lottery game, a portion of the prize pool (from 5-10 percent) will be retained for use as the prize pool for Mega Jackpot games and other games on the platform (such as the Grand Prize game). Mega Jackpot prize pools are expected to be larger than the prize pools for standard lottery games.
Tickets for Mega Jackpot games will not be able to be purchased. To earn a ticket for the Mega Jackpot game, participants will be presented with weekly “missions” that will include participation in a variety of games on the Gelotto platform during the week.
Initially, Mega Jackpot games are expected to function in a similar manner to standard lottery games, in which a random number is selected based on the number of tickets acquired, then the prize pool is distributed to the winning participant.
As a future expansion, Gelotto is considering the possibility of Mega Jackpot tickets that operate like a conventional lottery, in which participants pick a series of numbers (e.g., 6 numbers), and a numerical drawing is conducted each week. Smaller prizes may be awarded for partial matches (such as 4 or 5 out of 6 matching numbers). In cases where no winning ticket matches all of the numbers that are drawn, the prize pool may carry forward to the following week. As a possible feature of this expansion, a participant's Mega Jackpot tickets may persist from week to week until that participant wins a jackpot. A reusable ticket that may persist for multiple weeks would further incentivize participation on the Gelotto platform, with each week that a participant completes a weekly mission resulting in a cumulative increase in the chance for that participant to win a Mega Jackpot.
Gelotto selected to initially offer a selection of lottery games at launch due to their simplicity. Lottery-type games require minimal interactions by participants (simply purchasing a ticket, and receiving a prize if the ticket wins), have a very small number of easily-understood rules, and require only a single computational task to determine a winner: the determination of one or more random numbers.
By the end of 2022, Gelotto intends to offer more complex games, such as blackjack (and possibly slots). The methods for incorporation of entropy and pseudo-randomness used in lottery games may be incorporated into other random outcomes, such as the drawing of virtual playing cards from a virtual deck, the determining of icons presented in a slot machine window, and so forth.
While games such as blackjack are intended to be more engaging to some users, there are a larger number of rules that must be learned and understood by participants, such as types of bets, values of cards, the scripted actions of “the house”, the permitted actions of the participant, and so forth. Additionally, the Gelotto platform must be programed so that the house follows the scripted actions required by the rules.
Slot machine-type games similarly require a greater level of understanding (by both participants and the programmed Gelotto platform) regarding types of bets and the interpretation of complex outcomes, such as the presentation of various icons at different locations within slot machine windows.
Introduce the ability to “stake” GLTO tokens to act as “the house” in blackjack games (and possibly slots)
Because GLTO is not an inflationary token, with additional supply being minted daily (or at some other time period), and because Gelotto does not currently operate its own network, traditional staking of the GLTO token to secure a network and enable investors to earn additional amounts of the GLTO token does not fit the tokenomics of the GLTO token.
Gelotto will instead offer an alternative to traditional staking: Invesment in randomness - staking as the house.
When participants play games against the house (as contrasted to lottery-type games where prize pools are generated using the purchase of tickets by other participants), the assets that the participants stand to win must come from somewhere.
GLTO investors who choose to stake their GLTO tokens in this manner may be thought of as investing in a share of a decentralized casino. If a participant wins a game of blackjack (or slots), the winnings are paid to the participant using the tokens that have been staked by GLTO investors (in amounts proportional to each investor’s number of staked tokens). If the participant loses, the bet that is lost by the participant is added to the staked tokens on the Gelotto platform and credited to each GLTO investor’s stake (in an amount proportional to each investor’s number of staked tokens).
Because the odds in these games of chance favor the house, staking in this manner is expected to generate income for the GLTO investors over time, but in a variable manner that depends on the number of games played during a given time period and the outcomes of those games.
GLTO investors may be given the opportunity to stake GLTO tokens as the house for the entire GLTO platform (in which case all winnings and lost bets would taken from or added to the staked tokens), or to stake GLTO tokens for particular games (such as all Blackjack games, all slots games, or specific Blackjack or slots games).
Initiate a validator on the JUNO network
GLTO has been launched as a CW token on the Juno network, and Gelotto intends for its platform to attract investment and interest to the Juno network and IBC ecosystem. As an active member of the Juno community, Gelotto intends to initiate a validator on the Juno network to assist in securing the network and participate in governance of the Juno ecosystem. Juno assets received through the staking of Juno may be used to fund various aspects of the Gelotto platform, including incentivizing various prize pools.
Q1 2023
Create a DAO to act as governance and allow staking of GLTO
By the first portion of 2023, Gelotto intends for the platform to have reached a point where community governance is appropriate.
GLTO investors may be given the opportunity to stake GLTO tokens to obtain the right to vote on proposals, such as the specific games presented on the platform, the parameters of the games, spending proposals, the addition of new features, and so forth.
To incentivize GLTO investors to stake tokens in this manner, portions of airdropped GLTO tokens that were not claimed may be used as an incentive by periodically awarding additional GLTO tokens to investors that stake using the DAO. The number of GLTO tokens awarded in this way is expected to be less than the number that may be obtained through staking as the house, described above, but may offer a more consistent, less variable return on staked GLTO.
After the addition of more complex games, such as Blackjack (and possibly slots), and after the ability for GLTO investors to stake GLTO tokens to act as the house in such games is determined to be functioning in a secure and efficient manner, additional games of various complexities may be added.
Roulette games would include placing bets on the outcome of a random virtual roulette wheel. GLTO investors would be able to stake tokens to act as the house. Bets from roulette participants that are lost would be distributed to the GLTO investors who have staked tokens, while bets that are won would be taken from the staked tokens and given to the winning participants.
Computationally, the ability to place a large variety of bets corresponding to each outcome of the roulette wheel would need to be added. However - only a single random determination - the number that represents the outcome of the virtual roulette wheel - would need to be made.
Roulette games may lend themselves to receiving bets from multiple participants for a single random outcome. For example, an outcome for a game of roulette may be determined each minute, every five minutes, every fifteen minutes, or another selected timeframe, and multiple participants may place bets during that timeframe.
Similarly, games such as craps may accommodate bets from multiple participants, with the outcome of virtual dice being determined for a selected recurring timeframe. Computationally, the ability to place a large number of different types of craps bets, and the rules under which particular bets persist or are lost, would need to be programmed. However, only a single random determination – the outcome of a roll of two six-sided dice – would need to be made.
Games such as video poker may function similarly to slots and blackjack, in which the random outcomes that are determined correspond to the selection of cards from a virtual deck, while the types of bets for a video poker game may correspond to those available for slot machine-type games. Computationally, the ability for a participant to select cards for replacement and the rules for determining winning outcomes (e.g., payouts for specific poker hands) would need to be programmed.
Initiate a validator on the STARS network
Gelotto intends to offer NFTs, minted on the Stargaze network, as prizes for various games, and to offer Gelotto-themed NFTs for purchase using GLTO tokens (and potentially other assets). These opportunities are believed to be mutually beneficial to both the Stargaze network and the Gelotto platform. As an active participant on the Stargaze platform, Gelotto intends to initiate a validator on the Stargaze network to assist in securing the network and participate in governance of the Stargaze ecosystem. Stars assets received through the staking of Stars may be used to fund various aspects of the Gelotto platform, including incentivizing various prize pools.
Q2 2023
Add ways to purchase and win NFTs and incorporate boots to various games based on NFT ownership
Gelotto has partnered with NFT designers for the creation of NFTs that feature Gelotto-themed artwork. Many of these NFTs may be distributed as prizes for games on the Gelotto platform.
Gelotto also intends to include the ability to purchase NFTs using GLTO tokens (and potentially other assets).
In addition to representing collectable prizes that may be bought, sold, and traded, at least a portion of the NFTs may add “boosts” for the owner of the NFT when participating in various games on the Gelotto platform.
For example, a particular NFT or a specific type of NFT may provide the owner with a discounted purchase price for tickets for certain games, a small increase to the chance of a favorable outcome, bonus tickets to one or more games, receipt of a small portion of each prize pool for a particular lottery game, and other benefits. These boots are intended to be small benefits that would not significantly affect the overall outcome of most games, but would encourage NFT owners to continue to participate in games on the Gelotto platform, and to continue seeking additional NFTs.
Some boosts may be periodic or temporary. For example, a specific bonus may be given to owners of NFTs from a particular collection for a period of one month, then during the next month, this bonus may be given to owners of NFTs from a different collection.
Add games that allow betting using NFTs
After NFTs have been integrated into the Gelotto platform, Gelotto intends to introduce games where NFTs, themselves, may be used as bets and placed in prize pools by participants. For example, each participant may select an NFT for inclusion in a prize pool, and the winner of the game may receive all of the NFTs in the prize pool.
Potentially, NFTs may be used in place of other assets. For example, a participant may "bet" an NFT in place of GLTO tokens or other IBC assets in lieu of selling or trading the NFT for such assets.
Q3 2023
Commence the first annual Gelotto Grand Prize game
During the first year that the Gelotto platform is active, Gelotto will distribute 1000 GKEY, a rare secondary asset, to holders and liquidity providers of the GLTO token.
At the end of the first year, Gelotto will then commence the first annual Gelotto Grand Prize game.
The Grand Prize game will begin by presenting 10-20 “locked chests”, each chest containing an unknown prize. Each prize is intended to be worth at least 50,000 USD, and may include cryptocurrency, fiat currency, physical property (houses, cars, precious metals, etc.), or other items of value. One of the chests will contain a grand prize of 10-100 BTC.
The prizes for the Grand Prize game will be funded using the 5-10% portion that is retained from each prize pool for the lottery games.
https://blog.gelotto.io/grand-prizes-for-gelotto-a-chance-to-win-10-100-bitcoin-playing-games-on-the-juno-blockchain
In future years, Gelotto may host different types of Grand Prize games using different secondary assets that may be acquired in different ways.
Q4 2023
By the end of 2023, Gelotto intends to add multi-player games to the Gelotto platform. Some of these games may include participation of the Gelotto platform. For example, multiple players may simultaneously participate in a game of blackjack, placing bets against the house and each attempting to beat a single hand held by the house.
In other cases, games may include competition between individuals, facilitated by the Gelotto platform. For example, multiple players may participate in a game of poker. The Gelotto platform would ensure fairness and randomness by collecting and retaining bets, enforcing rules and limits agreed upon by participants, randomly drawing and distributing virtual cards, and so forth.
By the end of 2023, Gelotto also intends to add games based on real-world events, such as sports betting, animal racing, and other similar events. For example, participants on the Gelotto platform may place wagers into a smart contract that will distribute winnings and retain losing wagers based on the outcome of a scheduled sporting event or other type of event.
Looking toward future years
Beyond 2023, possible future expansions for the Gelotto platform include:
- Permitting players to create their own lottery games by selecting the asset type, price per ticket, timeframe for recurrence, number of winners, and how the prize pool is distributed (if multiple winners)
- Variations on games that are primarily only possible in the IBC/blockchain setting, such as no-loss lotteries funded using staking rewards.
- Entirely new types of games of chance nobody has seen before, invented by the Gelotto community.
- Metaverse aspects, such as a virtual Gelotto casino that exists on Metaverse platforms.
- Accessing the Gelotto platform on mobile devices as mobile applications and technology permit
- Use of fiat on-ramps to use the Gelotto platform, as applications and technology develop to permit this
Conclusion
This document serves as a brief summary of Gelotto’s vision for the first year of the platform. Please let us know what you think. Do these plans excite you? Do any of the directions sound absolutely crazy? What developments for Gelotto would you like to see?
As always, we appreciate the time and attention and welcome the thoughts of the Gelotto community, and of the IBC and cryptocurrency community as a whole.
