Become the dictator.
Tax everyone.
Wait for the coup.
$DARE is the on-chain version of the wheel. Players back dictators, the wheel picks one, his backers take the pot, and everyone mines the token on the way. The biggest miner rules, and collects tribute, until someone mines more.
Nothing here is live. There is no token, no contract and no deposit today. The chain has not been chosen yet. Every number on this page is a draft and will change.
Overview
It starts from a proven loop, round-based mining in the spirit of ORE, and adds the one thing the theme demands: a ruler. Three ideas carry the design.
- Back a dictator, take the pot. Sixteen sectors, one spin per round, the winning side splits what everyone staked.
- Mine while you play. Every stake mines $DARE, win or lose, so playing is never only a bet.
- There is always a dictator. The top miner of the epoch sits on the throne and taxes every round. Holding it means you keep playing.
A round
- Stakes open. Players place stakes on one or more of the fourteen dictators.
- Stakes close and the wheel spins, driven by a verifiable random number, never by the operator.
- The wheel lands. On a dictator, his backers split the pot. On a red sector, its special rule applies.
- $DARE is mined for every stake of the round, and the throne standings update.
If nobody backed the dictator the wheel lands on, the pot rolls into the next round.
The pot
Each round's pot is split three ways.
Backing a dictator nobody else picked pays more when it hits, because the pot is shared among fewer people. Backing the crowd's favourite pays less, more often.
Mining $DARE
Each round emits a fixed amount of $DARE, shared among all stakes of that round in proportion to their size. Losing stakes mine too. Emission per round steps down every epoch, and total supply is capped, so the earliest rounds mine the most.
The throne
An epoch lasts a week. The player who has mined the most $DARE over the current epoch sits on the throne and takes the 5% tribute from every round's pot for as long as they stay on top.
There is no election and no term limit. The moment someone else's mined total passes the dictator's, they take the throne, and the tribute, from the next round on. At the end of the epoch the count resets and the race starts again.
The red sectors
The Ides of March
Nobody wins the normal way. The stake placed on the most-backed dictator is confiscated and shared among the backers of the three least-backed ones. The crowd pays the contrarians.
Cult of Personality
Nobody is paid. The whole pot rolls into the next round, and that round mines double $DARE. Every Cult sets up a jackpot round.
The flywheel
Every round burns $DARE and pays the throne. The more people play, the more is burned and the more the throne is worth fighting for, which brings more people to play. The flywheel describes how the parts reinforce each other. It does not promise any price.
Fairness
- The spin comes from a verifiable random function supplied by an on-chain oracle, so anyone can check that the operator did not choose the result.
- All splits, emission and throne standings are computed by the contract and readable by anyone.
- The contract is audited before launch, and stake limits apply while it is new.
Draft parameters
| Parameter | Draft value |
|---|---|
| Chain | to be announced |
| Round length | 60 seconds |
| Sectors | 14 dictators + 2 red |
| Winners' share | 90% |
| Throne tribute | 5% |
| Buyback and burn | 5% |
| Epoch | 7 days |
| Emission | fixed per round, stepping down each epoch |
| Supply | capped, cap to be set |
Risks
Staking on the wheel can lose money: most stakes in most rounds do not win the pot. Mined $DARE can be worth little or nothing. Smart contracts can have bugs. Rules on games of chance differ by country, and the on-chain version will not be offered where it is not allowed. This page describes a design, not an investment, and nothing on it is financial advice.