After over 3 year of development, we are excited to finally showcase the Virtue Poker platform to our community and to begin driving growth to the application.
Virtue Poker will go live for real-money gaming this Friday May 28th with up to $500,000 GTD in promotions. Virtue Poker’s Launch Promotions will run from May 28th 2021 to July 15th (“Promotional Period”).
We are pleased to take this next step in our journey with all of you! Before we get into more details regarding our launch promotions, we wanted to give a brief product update:
1 Product Updates
1.1 New Table UI
Virtue Poker has updated our table UI to be more modern in design yet easy on the eyes for our grinders who will play for hours each day. We will be adding more sound and animation to our tables as well over the next few weeks. Check out some of the table designs below:
1.2 Launch of Multi-Step Tournaments
Our team has completed and will launch Multi-Step tournaments - which will initially be used as a freeroll format for launch. Multi-Step tournaments have the following format:
- Each day satellites are run (6-max). The winner of the satellite moves onto a scheduled tournament on Sunday.
- Satellites are run until there are 36 winners.
- A player can enter multiple satellites, but can only win a MAXIMUM of one seat to the Sunday Tournament. Once a player has won a seat, they no longer will be able to register for additional satellites.
- The 36 winners are automatically registered for the weekend Sunday Special Tournament
- The Sunday tournament has two steps: 6 Sit and Go’s are played until there are 6 winners.
- The final 6 play for prizes
Player’s will use our “FVP” tokens - which can be thought of as freeroll tournament tickets to enter our freeroll MST tournament format. FVP tokens can be earned by new players just by signing up for the platform and registering an account. Bonus FVP tickets can be earned simply by keeping VPP tokens either in your internal Virtue Poker wallet or in your Source of Funds account on mainnet (more on that below). Keep an eye out for announcements regarding our first freeroll series of tournaments next week.
2 Sign-Up and Deposit Bonuses
Players can also earn additional ETH and VPP bonuses through signing-up and/or depositing for their first time during the promotional period.*
**Note all bonuses will be paid out at the end of the promotional period (July 15th) - however the VPP accrued from the sign-up bonus will be counted towards VPP rewards program
2.1 MST Freeroll Ticket (FVP Token) for Sign-Up
All players who sign up to Virtue Poker will receive a freeroll ticket just for registering an account.
Under 0.1 ETH “Gas Back”
All players who deposit under 0.1 ETH will receive their deposit gas free! This means that for new players who want to test out the software without having to deposit a large sum of ETH can play games on Virtue Poker with a deposit of 0.01 ETH (<$30). (max 3 deposits gas free during promotional period). In addition, players will be rewarded with 1 MST freeroll ticket.
0.1 ETH to <0.2 ETH
All players who deposit between 0.1 ETH and 0.2 ETH will receive a bonus of 0.05 ETH and 500 VPP at the end of the promotional period provided they reach 40 GPs. In addition, players will be rewarded with 2 MST freeroll tickets.
0.2 ETH to <0.5 ETH
All players who deposit between 0.2 ETH and 0.5 ETH will receive a bonus of 0.15 ETH and 1000 VPP at the end of the promotional period provided they reach 80 GPs. In addition, players will be rewarded with 2 MST freeroll tickets.
0.5 ETH to <0.75 ETH
All players who deposit between 0.5 ETH and 0.75 ETH will receive a bonus of 0.4 ETH and 2000 VPP at the end of the promotional period provided they reach 200 GPs.In addition, players will be rewarded with 2 MST freeroll tickets.
0.75 ETH+
All players who deposit 0.75 ETH and above will receive a bonus of 1 ETH and 4000 VPP at the end of the promotional period provided they reach 400 GPs.In addition, players will be rewarded with 3 MST freeroll tickets.
*NOTE: Based community feedback, we will count cumulative deposits within the first week (through June 4th at 4 pm UTC). All players (previous beta players and new players) are eligible for Sign-Up bonuses. Sign-Up bonuses can be added to rakeback perks and our Grinder Competition.
GAS FREE DEPOSITS FOR THOSE UNDER 0.1 ETH WILL BE ENABLED NEXT WEEK
2.2 Deposit Freerolls
To incentivize our players to deposit on Friday May 28th - Virtue Poker will offer the above freerolls to the first 288 players.*
- The first 216 players to deposit 0.1 ETH and reach 10 GPs will be entered into a freeroll with a 2 ETH GTD prize pool. (5 GP requirement)
- The first 36 players to deposit 0.2 ETH and reach 25 GPs will be entered into a freeroll with a 3 ETH GTD prize pool. (10 GP requirement)
- The first 36 players to deposit 0.75 ETH and reach 50 GPs will be entered into a freeroll with a 3 ETH GTD prize pool. (10 GP requirement)
*NOTE: Players can only be eligible to play in (1) Deposit Freeroll.
3 VPP Perks
Player’s that maintain a VPP balance of tokens in either their internal Virtue Poker wallet or in their external Source of Funds account on mainnet will be eligible to receive several perks and prizes:
3.1 Rakeback
Players who maintain VPP in their wallet can earn anywhere from 10% to up to 90% rakeback just by keeping a minimum number of VPP tokens in their wallet(s). Players must maintain the above number of VPP tokens in their wallet (taken as an average balance over the course of the promotion period) throughout the course of the promotion period to earn the above rewards. Rakeback will be rewarded at the above percentages independent of play volume.
3.2 Grinder Bonuses
In addition to the above rakeback perks - any player independent of their VPP balance can be eligible for the following rewards and bonuses:
During the promotion period (May 28th to July 15th 2021) - players will compete for the above ETH bonuses. Bonuses will range from 0.01 ETH all the way up to 1.05 ETH!
Players can earn Grinder Points (GP) through their play on the platform. The GP system is based on rake paid. The first 500 players to reach 10 GP will receive 0.01 with the first five players to reach 200 GP receiving 1.05 ETH.
The Grinder Competition is a bonus competition that can be added in addition to the rakeback bonus players can receive from holding VPP. Players can earn anywhere from 50% in rakeback all the way up to 300% in rakeback!
3.3 The Daily Jackpot
Virtue Poker will deploy a 3-max SNG with a hyper tournament structure with a 0.004 ETH buy-in. If you win the tournament you will be entered into a drawing whereby one person each day will win 50x the buy-in (0.20 ETH!). The more times you win, the more entries you get.
In addition, all Jackpot winners will be entered for a chance to play against Phil Ivey himself! 5 lucky winners will play on a Final Table against Ivey and share a 5 ETH prize pool.
3.4 Random Daily Drawings
Randomly throughout the course of the Launch Promotion, Virtue Poker will announce in our Telegram channel a drawing. Players typically have to reach a minimum number of Grinder Points that day to be eligible for entry and prizes typically range from 0.25 ETH up to 1 ETH.
If you haven’t already, please join our official Telegram Channel so you don’t miss out on any of these giveaways!
3.5 Lottery Drawing (10% of platform rake, 5 ETH GTD)
At the end of the Launch Promotion, Virtue Poker will be giving away 10% of the platform rake split evenly across 5 lucky winners! Only players who maintain a balance of VPP either in their Virtue Poker account wallet or in their SOF wallet on mainnet will be eligible for entry. Players who maintain a higher balance of VPP tokens will receive additional entries, with players holding 40,000 VPP receiving 10 entries!
3.6 Multi-Step Tournament Freeroll Tournament Series
Every player that has played previously on sign-up will receive “FVP” tokens that are tournament tickets that can be used to enter our weekly freeroll tournaments that are structured as “Multi-Step Tournaments” (described above). Prizes for our Multi-Step freerolls can be VPP, ETH, or even a chance to play against Phil Ivey himself (more to be announced on that later).
4 Justice System
As a reminder, our 2018 buyers have the ability to opt-into the Justice System. These Justice nodes will earn 50% of the platform fees for 12 months. Staking and running a Justice node requires a minimum 6 month lock-up period.
Virtue Poker will be employing a 400 Justice Node cap for 12 months post launch. And there will be a 20 Justice Node cap per token buyer initially. Each individual token buyer who is eligible to be a Justice will first have the right to stake their maximum amount of tokens to run their maximum amount of Justice Nodes. Token Buyers who do not wish to stake their maximum number of tokens will have their Justice node(s) distributed amongst the other VPP buyers who reached their cap.
As it currently stands, Virtue Poker has approximately 325 Justice Nodes committed, with up to 75 nodes still available.
Due to the lack of communication (a failure on our part, we apologize) we will be extending the opt in period to decide on Justice registration until June 11th 2021. This both allows eligible participants to see the revenue capability of the Virtue Poker platform, and allows us to focus on answering any questions and more details on the process. All those who choose to stake will be eligible to claim 50% of platform fees backdated to our launch date. We apologize for this delay.
If you were a 2018 token buyer who purchased 200,000 VPP tokens or more, please go here to indicate the number of Justice Nodes you will like to run: https://virtue.poker/justice/
**NOTE: Any token buyer who chooses to not stake a portion of their VPP tokens will lose their ability to stake for 12 months.
Vesting: Token buyers from 2018 who purchased 200,000 VPP or more will have to first stake their VPP tokens to run a minimum of (1) Justice node before accessing their VPP tokens. All buyers who purchased 200,000 VPP or more will be subject to a 1-month cliff and 12.5% a month vesting for an additional 8 months.
4 VPP Tokens
4.1 VPP Deposit + VPP Tables
VPP Deposits and tables will be enabled next week. Until then, the only tables that will be deployed will be in ETH (see below)
4.2 Alpha/Beta VPPs (Non-Geo Blocked)
VPP tokens for Alpha and Beta users will be deposited into their Virtue Poker accounts next week. All players will receive the VPP perks outlined above back-dated to our launch date today. As a reminder, VPP tokens held either in a player’s SOF wallet or their internal play wallet will count towards eligibility for the above perks.
4.3 Alpha/Beta VPPs (Geo Blocked)
After careful consideration we’ve determined that the VPPs earned by players who can not legally play on the app will be staked and Justice Nodes for 6 months with the proceeds of those nodes being distributed proportionally across the individual player wallet accounts. At the end of the 6 month staking period, VPPs will be freely claimable by these individuals.
5 Table Configurations and Grinder Point Rewards
Initially for launch, Virtue Poker will offer a variety of Cash Game tables and Sit and Go tables on the platform, initially with NL Texas Hold’em and Pot Limit Omaha with buy-ins ranging from 0.004 ETH to 0.1 ETH.
Players can earn grinder points through their play on either Sit and Go tables and Cash tables. For both game formats 1 GP will equal 0.0025 ETH paid in rake. A player will be able to check their Grinder Point status by going to https://virtue.poker/leaderboard/
Cash
Sit and Go
**Note: Multi-step tournaments will be enabled and FVP tokens for freerolls will be distributed hopefully next week.
6 Conclusion
We want to say thank you to our community (especially those who’ve been with us since 2018) for your patience and support throughout the years.
We hope this Friday marks the next chapter in the future of online poker.
We’ll see you on the tables,
Ryan Gittleson
CEO of Virtue Poker