🚀 🌕 📰 moonSTEEM V2 Update : Upcoming changes / Feedback

We are excited to share with you the upcoming changes of moonSTEEM V2. We thought a lot about all this and the consequences of each change to make sure there’s minimum downside to each of them or any abuse / exploit possibility.

V2 should be launched anytime between Friday and Monday, depending on how the last tests go and feedback we will receive on this post, which might lead to modifications hence more tests.

NB : The initial bankroll provided by the owners is considered as an investor and follows the exact same rules. So when referring to investors / house, it means all investments made into moonSTEEM with no distinction.

1) New conversion rate

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1 STEEM = 1000 Steemies
1 Steemie = 0.001 STEEM

2) House Edge

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A 2% fixed house edge will be directly embedded in game multipliers (no more 0x). There will be a new seeding event to create a new server hash chain and choose a new client seed.

3) New Profits and Losses system

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We made some errors with the V1 P&L system which led to losses on our initial investment. We were distributing profits when there was still losses to recover.

How the V2 system will work.

At the end of each game :
If the game is a loss for the house : 100% of losses will be dispatched between investors (depending on the amount invested).
If the game is a win for the house, there are 3 possibilities :

1. There are currently losses to recover for investors and the round’s profits don’t cover the losses : all profit is dispatched between investors (depending on the amount invested) to diminish losses attached to investors’ balances.
2. There are currently losses to recover for investors and the round’s profits cover the losses : all losses currently attached to investors’ accounts are back to zero, and the surplus of profits is distributed as described in point 5
3. There are no current losses for investors : all profit is distributed as described in point 5

This way, no profits are distributed when investors are at loss. And recovering losses is prioritized over profits distribution.

4) Investing

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Minimum investment amount will be increased to 10 STEEM (10,000 Steemies). Your Investment balance can not be under 10,000 Steemies. If you try to withdraw an amount that would lead your Investment balance to be under 10 STEEM, you will need to choose between withdrawing the amount that would make it be equal to 10 STEEM or to withdraw all.

Before investing, investors should be fully aware of the financial risk involved. By investing into moonSTEEM, you're betting on the house against the players. As described in previous point 2, losses will now be attached to investors’ account. So if an investor wants to withdraw while there are losses to recover, he will have to “take” the losses.

Example :

Tony decided to invest 100 steem into moonSTEEM
Total invested amount : 10000 steem

After X losing games, current house / investors losses are at 100 STEEM. If Tony decided to withdraw his investment at that particular moment, the loss will be factored in.

Tony's investment - [(tony's investment stake / total investors stake) x (current losses))
>>100 STEEM - [(100 / 10000) x 100]
>>100 STEEM - 1 STEEM = 99 STEEM

If Tony wants to withdraw his 100 STEEM, he will only get back 99 STEEM on his Playing Balance. Each investors has his own “losses balance”, so that if someone invests when house is on a losing streak, he will only be impacted for future games and not for losses that were already there, the example is here to show you that investment are subjected to losses if investor choose to withdraw shorterm when house is losing.

5) Profits Distribution

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As seen in point 3, at the end of a game, if there are no losses to recover for investors / house, profits are distributed as such :
Investors : 50% (depending on amount invested)
Owners : 25% (equally between both owners)
Players/Delegators/Sponsors/Investors : 25% (according to their tokens holding)

Once profits are dispatched between users’ Profits balances, they are excluded from the Bankroll, hence secured (so the Profits Balances can only go up, never down). They can be withdraw to Playing Balance at any moment.

6) New Token System (Moon)

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Please be aware that the token system is not designed to ever be tradeable or accumulable. The goal is to find a clever solution to distribute profits between different actors of the game.

Tokens will be distributed as such :
1 Steemie bet : 0.02 tokens
1 Steemie bet of an affiliate : 0.002 tokens for sponsor
1 Steem Power delegated : 0.6 tokens per day
1 Steemie bet : 0.01 tokens for investors (relative on amount invested by each investor)

Time bonus to reward users who take action early :

Tokens distributed will be multiplied by 6.2 on first week, 6.1 on second week and so on, after 1 year (52th week), the multiplier will be normalized back to 1.

Automatic burning of tokens

To ensure some stabilization of the token supply, and not being blocked with total supply or having problems with dilution, a burning of tokens will take place at midnight GMT every day.

Each day at midnight GMT, 2/360 of the total supply will be burnt :

1. 1/360 of total supply will be burned equally for all token holders.
2. 1/360 of total supply will be burned proportionally for all token holders.

Example

Holder A has 1 million tokens
Holder B has 500k tokens
Holder C has 10k tokens
Holder D has 5 tokens

At midnight :

• 4194 tokens will be burned "equally" : 1048 tokens for each holder
• 4194 tokens will be burned "proportionally"

Holder A loses 1048 + (1000k * 1/360) = 1048 + 2777 = 3825 , so remaining tokens of 996 175
Holder B loses 1048 + (500k * 1/360) = 1048 + 1388 = 2436, so remaining tokens of 497 564
Holder C loses 1048 + (10k * 1/360) = 1048 + 27 = 1075 so remaining tokens of 8 925
Holder D loses 1048 + (5 * 1/360) = 1048 + 0 = 1048 so remaining tokens of 0

The system will encourage users to be active and participate more regularly in the long term to keep their share of total supply stable over time.

7) Max Profit / Max Bet Ratio + Minimum Bet / Increment

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Max Profit will be 0.75% of Bankroll (total invested)
Max Bet will be 2.20% of Max Profit

Minimum Bet will be 1 Steemie
Minimum Increment will be 1 Steemie

All the above variables are subjected to change as owners review the game data and balance it between investors/players interests. We will give prior notice before we update any of the variable(s) above.

8) New Tip / Rain Functions

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Under the new Tips tab : User will have 2 new functions :

1. Tip : Send Steemie(s) to another user within the game.
2. Rain : Set an amount of Steemie(s) to be sent randomly to X user(s) within the game (ie celebration of a BIG WIN).

User can choose to broadcast the tip action on chatroom. Rains are automatically displayed on chat.
Fee applicable to tip : 0.1 steemie + 1% of tip amount. No fee for rains.

9) Deposit & Withdraw Limits

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Min Deposit / Withdraw : 0.001 steem = 1 Steemie
Max Deposit : 50 STEEM per account per 24hrs

For investors who would want to invest more at once, there’s a possibility to ignore the deposit limit for a particular account. ONLY for 5K steem and above investment, please DM msowner1 or msowner2 on discord

Automatic withdrawals limited to 10 STEEM per account per 24hrs. Above that limit, withdrawals will need admin confirmation (usually less than a few hours, depends on load).

Limits are TEMPORARY, and will be increased gradually until there are no more limits.

Feedback

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We will be taking feedback on the above changes before we go live with V2. If you have any other suggestions/feedback to make @moonsteem better, feel free to comment below or come on discord. Appreciate if you take into consideration of all sides (balance) and provide constructive opinions for the long term.

If you reside in a location where gambling, or betting over the internet is illegal, please do not click on anything related to these activities on this site. You must be 18 to 21 years of age to click on any gambling related items even if it is legal to do so in your location. Recognising that the laws and regulations involving online gaming are different everywhere, players are advised to check with the laws that exist within their own jurisdiction or region to ascertain the legality of the activities which are covered.

The game provided by moonSTEEM is based on blockchain, provably-fair, and transparency. As with all gambling, there’s entertainment value for the thrill and it also carries with it a certain degree of financial risk. Players should be aware of these risks and go with the amount that you can afford to lose, Be responsible and don’t overindulge.