BUSTA launches the lirst of its kind GameFi platform on Binance Smart Chain
BUSTA today announced the launch of its GameFi platform. It is the first of its kind to be built on the Binance Smart Chain (BSC). BUSTA will be home to multiple games and tokens with many ways to earn. Players can “be the House” by staking and holding $BUST and earn rewards as people play and trade. The BUSTA platform also contains a decentralized exchange (DEX), staking pools where investors can stake $BUST from day one, affiliate/partner programs, and is governed by a decentralized autonomous organization (DAO).
The launch is celebrated with BUSTA’s flagship game BUSTA CRASH, a progressive jackpot game similar to the grandfather of crypto crash games – Bustabit. Users can place bets with BNB (or partner tokens in future), watch the multiplier curve increase exponentially, and then click the stop button to claim their winnings before the game “crashes”. The longer the round, the more they can win; however, if the game crashes before they exit, they lose their bet.
While existing iGaming and DeFi projects offer single/limited-purpose platforms with mot many utility or benefits for the participants beyond their base functions, BUSTA changed that. The BUSTA founders created a circular business model that benefits players, investors, stakers, traders, affiliates, and partners, all while tapping into a multi-billion dollar industry. The ecosystem is designed so that each component benefits the other and as each increases in popularity and volume, the whole ecosystem and community reaps rewards.
BUSTA’s 5 primary components are:
- iGaming Platform: Features multiple games like BUSTA CRASH, a progressive jackpot game.
- Trading and Staking Module: BUSTA contains its own niche DEX and yield farm for trading and staking $BUST as well as partner tokens.
- Affiliate Program: The program has a novel approach to growing the user base via referral links, where both parties benefit from a constant stream of passive income from play, trade and farm activity.
- Partnership Portal: Partners can list tokens on the BUSTA platform for constant burn pressure for the partner’s native token, which is provided by automated revenue collection and distribution flow.
- Degenerator Decentralized Autonomous Organization (DAO): BUSTA’s DAO allows the community to control the majority of the ecosystem through a voting process.
Neil Apestrong, Project Lead at BUSTA, said:
“We are taking iGaming and DeFi to the next level, as there’s just so much untapped potential with the technology available that people aren’t utilising yet. We’ve taken advantage of that and intricately designed our ecosystem in a way that makes our games fun and rewarding to play, incentivises holding and staking our $BUST token, and allows our community to grow exponentially, all while playing an incredibly active and powerful role in the operation and further development of BUSTA.”
More games will be developed “in-house” by core team members, but BUSTA will also look into acquiring entire game companies or offering deals to wire up third party games to the BUSTA tokenomics. This allows the platform to expand both horizontally and vertically, and expanding to multiple other chains like Ethereum and Solana are also attractive expansion options.
BUSTA games will be provably fair and generate a small amount of revenue for the platform in the form of the House Edge. The House Edge is then distributed throughout the ecosystem via smart contracts to benefit the community and $BUST token holders. All of the games will draw their winnings from the BUSTA Bankroll. This Bankroll pool will be funded initially from the presale, then be automatically and perpetually topped up further with a percentage of the House Edge and by users staking their own BNB into the bankroll pool for direct yield rewards in the form of BNB and BUST tokens.
The launch of BUSTA’s iGaming platform will be followed by the $BUST IDO (initial DEX offering) on August 24. With the scope of the BUSTA ecosystem the company will host multiple IDOs simultaneously, on both Starter, a decentralized fundraising platform for the Binance Smart Chain, and CyberFi Samurai, a new era of capital funding for the future of DeFi.
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Author: Peter Siu