First we wanted to say thank you to those who have played on the Virtue Poker app thus far, players are the lifeblood of our community and we will be announcing more prizes and giveaways to our community this week.
1 Play Stats
We had over 100,000 hands played so far in our first 11 days of operation and over 1800 tournaments completed.
We have over $300,000 of deposits and have generated over $20,000 of rake. Our team is excited to continue to build the platform’s liquidity and player base.
For those looking to up their gameplay, generally our platform liquidity is at its peak from 4pm UTC to 12 am UTC.
2 Gas Free Deposits
We are pleased to announce that our gas free deposit feature is now live for all players who deposit 0.1 ETH or less!
Players can deposit up to 3 times during our promotion period (now through July 15th) and have any gas fees credited back to their account instantly upon deposit! This allows new players who want to deposit lower amounts to try out the platform before making a larger commitment to Virtue Poker.
3 Beta VPP Tokens (Non-Geo Blocked)
Over the course of our previous free-to-play beta promotions, and real-money tests, Virtue Poker had 382 players earn VPP through their play on the application. These players have accrued 6,510,700 VPPs.
The public spreadsheet for VPPs earned by players can be found here.
The purpose of our previous beta programs were to help jumpstart our platform liquidity for our mainnet launch. We are thankful to our beta players who participated in our previous promotions.
In order to continue to ensure healthy price discovery for the VPP token and to continue to encourage play, Virtue Poker will be distributing beta VPPs to non-geo blocked players in the following manner:
- All players will receive their max VPP perks and benefits based on their VPP totals
- 10% of accrued VPP will be deposited into player’s accounts between Thursday June 10th and Friday June 11th. Players will be notified via email once completed.
- VPPs will be claimable at the end of each month based on each individual player’s Grinder Point totals. A player can claim 100 VPPs for every 1 Grinder Point played. VPP will be deposited into players accounts following the conclusion of each month (beginning July 1st 2021)
- Players who don’t reach their playthrough requirements or who chose not to play at all will still be able to claim their remaining balance of VPP tokens on October 28th 2021 (6 month lock-up period)
NOTE: Currently Grinder Points can only be earned using ETH tables. Grinder Points for VPP table games are in development.
Virtue Poker and our community must work together to continue to improve the liquidity of the platform, and the liquidity of the token. And to this end, this structure creates incentives to our players to deposit and play on the app.
3.1 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.
4 Justice Staking
Virtue Poker will roll-out a three part process for Justice nodes. Initially, Virtue Poker will run Justice nodes to ensure optimal performance of the platform and to minimize the cost and time needed for our stakers to run their own nodes.
As a reminder, token buyers from 2018 have exclusive access to stake and run Justice Nodes on Virtue Poker. 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.
If you have 200,000 VPP tokens or more, please go here to indicate the number of Justice Nodes you will like to run:
**NOTE: Any token buyer who chooses to not stake a portion of their VPP tokens will lose their ability to stake for 12 months.
Token buyers from 2018 have until June 18th 2021 to finalize Justice allocation amounts
4.1 Vesting
1 Justice Node: After discussion, if an individual only purchased 1 Justice node (200,000 VPP), they have the option to do partial staking (minimum 50% or 100,000 VPP) while the other 50% of their tokens (100,000 VPP) will be subject to an 8 month vesting period (12.5% vest June 28th until January 28 2022)
2 Justice nodes or greater: Individuals who purchased more than 1 Justice node, have to stake a minimum of 1 Justice node with a 6 month lock-up, their remaining tokens will be subject to an 8 month vesting period (12.5% vest June 28th until January 28 2022).
For example, an individual who purchased 1,000,000 VPP can chose to stake 1 node and have the remaining 800,000 VPP vest in 8 equal installments over 8 months (100,000 VPP vest on June 28th 2021 - January 28 2022).
NOTE: Only unstaked tokens will be subject to the 8 month vesting period. Staked tokens will be locked for 6 months and fully unlocked on October 28th 2021.
4.2 Phase 1: Virtue Poker Operates All Justice Nodes
Initially for mainnet launch, all Justice nodes will be run and deployed by Virtue Poker. Token holders will not be able to stake VPP tokens and collect fees. This is to ensure optimal platform performance for our initial launch.
4.3 Phase 2: Virtue Poker partners with licensed Staking-as-a-Service Companies
In the second phase, Virtue Poker will partner with third-party staking companies who provide Staking-as-a-Service. These companies will run the Justice nodes for Virtue Poker. VPP token holders will be able to stake their VPP tokens and license Justice nodes from these companies to collect fees. This ensures the platform’s performance standard will be maintained as Virtue Poker works to create a downloadable Justice client and performance/hardware standards for users to run Justice nodes.
4.4 Phase 3: VPP token holder’s themselves can run Justice Nodes
In the final phase, individuals will be able to download and run Justice nodes themselves and stake VPP via a Justice Registry to collect fees from the network. The system will work as described above.
5 Celebrity Tournament
Virtue Poker is excited to host a Crypto Celebrity Poker tournament on the Virtue Poker Platform. The participants will include Hall of Famer and Virtue Poker Team Pro, Phil Ivey, Hall of Fame NBA player Paul Pierce, the world’s largest YouTube streamer, Mr Beast, Ethereum Co-Founder and Consensys Founder Joe Lubin, and a cast of well known influencers and celebrities alike. In addition, (3) seats will be reserved and given away to community members of Virtue Poker, Ethernity, and SuperFarm.
The 12 person event will be broadcast on Twitch, with viewers having the opportunity to place predictions on the outcome of the event and win rare prizes. The date for the event is still yet to be determined.
Participants
12 total participants.
Prosper for Prediction Markets
In addition, viewers tuning into the live stream can make predictions on the outcome of the event including but limited to:
Who will win the tournament?
What place will Phil Ivey finish?
Will Paul Pierce make the final table?
What place will Joe Lubin finish?
Will a poker pro win the event?
What place will Elliotrades finish?
Will there be a celebrity in the top 3?
Will Phil Ivey finish in the top 3?
Will the winning final hand be three of a kind or better?
Viewers of the live stream who place winning predictions will be eligible for special prizes that will be announced live on the stream.
Community Seat Giveaways
Three of twelve seats will be awarded to a community member from each of the following communities: Virtue Poker ($VPP), Ethernity ($ERN), SuperFarm ($SUPER). One player from each community will be eligible to win a seat to play against this all-star line-up.
Eligibility for Entry
In order to be eligible to win Virtue Poker’s community seat entry and $10,000 in USDT tokens, an individual must meet the following criteria:
- Over 18 years old
- Registered Virtue Poker account
- 4,000 VPP in either their Source of Funds wallet or in their internal Virtue Poker wallet
- Minimum of 0.5 ETH in cumulative deposits
- 50 Grinder Points see https://blog.virtue.poker/ to learn more on how to earn GPs
Virtue Poker will be conducting a drawing for all eligible participants prior to the event. Stay tuned for more information on how to multiply your entries and increase your chances of winning a seat to the event.
6 Conclusion
We wanted to thank our community members for their patience and dedication to Virtue Poker. Our team is tirelessly working to continue to build liquidity for both the platform and the VPP token, and we look forward to continuing to deliver new features, promotions, and improvements on the platform.
We have just begun our long journey towards building the next generation online poker platform.