What is Gelotto?
Gelotto is a platform featuring cryptocurrency-based games of chance that will officially launch by the end of September 2022, but is running live test games currently. Gelotto Test Games
Initially, Gelotto will offer lottery-style games, but future expansions will include blackjack, slots, poker, roulette, virtual animal racing, sports betting, and more.
Ways to invest in Gelotto:
Purchase the Gelotto Key (GKEY) token: Osmosis DEX
Why should I purchase GLTO?
The GLTO token is the primary token of the Gelotto platform. GLTO Summary
At the time of this article, the current price of the GLTO token is slightly over 0.005 USD (half a cent). The all-time-high price is just over 0.009 USD, and the all-time-low price is just under 0.0049 USD.
The Gelotto platform has not officially launched and is currently running only test games. GLTO has a fixed supply (420,690,000), and use cases for GLTO may favor a future price increase.
GLTO is usable to play games on the Gelotto platform. While initially, Gelotto will offer lottery-style games, and lotteries may use a variety of assets in addition to GLTO, a GLTO lottery will always be an option.
Additionally, GLTO investors will be able to burn a small amount of GLTO to create a game having customized parameters. (Game creators may receive a portion of the prize pool for a created game.)
As the Gelotto platform expands to include other games such as blackjack and slots, these games will primarily utilize the GLTO token due to the method by which winnings are paid, which Gelotto has termed "staking as the house". When a participant plays blackjack, slots, or other games, if the participant wins, the winnings will be paid to the participant using GLTO that has been staked by investors. When a participant loses, the participant's losses are added to the staked GLTO. Because the odds in these games of chance favor the house, "staking at the house" is expected to generate profit over time, but in a fun, play-to-earn-themed manner with variable gains depending on the number of games played and the outcomes of the games.
After the Gelotto platform is launched, Gelotto also plans to use the GLTO token for platform governance, allowing the community to vote on games and various other platform features and activities.
Additionally, holding a certain amount of GLTO will entitle each investor to receive a monthly airdrop of Gelotto's annual grand prize token. For Year 1, holding 10,000 GLTO will entitle holders to receive a small amount of Gelotto's GKEY token, described below.
Why should I purchase GKEY?
The GKEY token is the Year-1 reward token for Gelotto, to be used in the first annual Grand Prize game. GKEY Summary
At the time of this article, the current GKEY price is at a low of 1215 USD. The all-time-high price is 5617 USD.
GKEY is a scarce token (max supply 1,000) that will be used during the Grand Prize event to access extremely lucrative grand prizes, each with a target value of 50,000 USD or more. Specifically, the Grand Prize event is intended to include 10-20 prizes of many different and imaginative types, including cryptocurrency, precious metals, cars, real estate, possibly fiat currency, and an ultimate grand prize of 10-100 Bitcoin.
These prizes will be represented as "locked treasure chests", and a certain amount of GKEY will be needed to open each chest, with each opened chest requiring progressively more GKEY to open than the previous chest.
The Grand Prize game is still over a year away. As the event becomes closer, this may favor an increase in the price of GKEY.
Because GKEY has a low max supply, acquiring enough GKEY to access a grand prize may require significant time or expense, and many individuals may choose to pool their GKEY or make other team-based arrangements. As the Grand Prize game progresses, this may also favor an increase in the price of GKEY.
Additionally, holders of GKEY that is not used during the first annual Grand Prize game will be provided with a bonus amount of the second year's grand prize token after the first year Grand Prize game ends.
Why should I purchase Gelotto Shoppe NFTs?
The Gelotto Shoppe NFT series features 1000 amazingly-drawn pieces of art depicting anthropomorphic ice cream cones. The public mint price is 3333 STARS. (Stargaze Launchpad) (may mint a maximum of 2 NFTs). The resale market is also extremely active. (Stargaze Marketplace) The series includes ten unique 1 of 1 NFTs as well as a diverse mix of traits and rarities.
In addition to being well-drawn and re-sellable, Gelotto Shoppe NFTs provide holders with a series of perks and utilities.
1% of every Gelotto prize pool will be set aside to be given to holders of the Gelotto Shoppe NFTs. Each holder will receive an equal share of that 1%. An owner of multiple Gelotto Shoppe NFTs will receive this bonus for each NFT that is held.
Because Gelotto is currently running only test games, and currently only offers lottery-style games, this bonus may initially be fairly small. However, after the platform launches, lottery games become continuously available, and new types of games are added, the size of this bonus should increase. As a result, the value of the NFTs themselves may also increase.
Additional perks will also be added after the platform has launched. For example, ownership of a Gelotto Shoppe NFT may entitle a holder to a reduced price when purchasing tickets for certain games, bonus tickets for certain games, and other similar benefits.
NFT holders are intended to be "VIP" users of the Gelotto platform, and will be able to customize their experience by using backgrounds, banners, avatar icons, and other user interface features that may not be available to other users of the platform.
Additionally, the Gelotto platform may include special sections or special games that are only accessible to NFT holders, such as an exclusive poker tournament for NFT holders. Various real-world events may also be held, to which NFT holders would be invited.
Why should I stake assets with Gelotto validators?
Gelotto takes great pride in supporting various networks on the IBC and intends to expand to include validators on many more networks in the future. Currently, Gelotto includes validators on the following networks: Juno, Stargaze, Evmos, Osmosis (currently not in active set), Kujira (currently not in active set)
Gelotto's long-term goals include building infrastructure and supporting all of web3. While Gelotto currently supports Cosmos-based assets, future intended expansions include the Near, Algorand, Polkadot, and Ethereum networks, and others as appropriate. As Gelotto expands to initiate validators on other networks, assets from these networks would also become usable on the Gelotto platform.
In addition to providing stable validator services, Gelotto provides investors who stake a minimum amount with a Gelotto validator with a monthly distribution of the GKEY token, described above. This bonus is available for each validator, so a single investor could obtain multiple distributions of GKEY by delegating to multiple Gelotto validators.
Additionally, Gelotto conducts raffles to award a much larger GKEY prize that may be won by any investor that delegates any amount to a Gelotto validator.
Why should I add liquidity to Gelotto liquidity pools?
Providing liquidity to either of the liquidity pools on Osmosis Dex earns daily incentive payments of both GLTO and GKEY tokens (amounts vary based on current value of liquidity added and total liquidity in the liquidity pool).
Providing liquidity to the liquidity pool on Junoswap earns incentive payments of GLTO, GKEY, and RAW tokens (amounts vary based on current value of liquidity added and total liquidity in the liquidity pool).
Liquidity providers also earn a portion of the transaction fees assessed by Osmosis and Junoswap when buyers and sellers use these pools to exchange tokens.
Gelotto is a new project (currently less than three months old) that is currently offering only test games, only a single type of game, and has not yet officially launched.
Gelotto intends to be primarily steered by the community, by allowing owners of GLTO to receive a share of Gelotto's income by "staking as the house", allowing GLTO owners to function as governance for the Gelotto platform, and allowing Gelotto NFT holders to receive a portion of every prize pool and various "VIP" perks.
Owning these assets is a bit like being a part-owner of a decentralized casino, and purchasing these assets early is like getting into a decentralized casino project on the ground floor.
As always, invest responsibly and thoroughly research any investment opportunity.
Gelotto Blog (includes whitepaper and Year-1 Roadmap)
Gelotto Website (under construction)