Spinwin is a completely autonomous game of chance on the Ethereum blockchain that evolves and progresses over time as game conditions change. Spinwin does not have a "house" that takes profits. Instead, players earn SPIN tokens on bet losses which allow them to claim ETH in the game as it evolves.
Our goal with Spinwin was to build a blockchain based game that requires no manual intervention, maintenance or interaction from a 3rd party in order to operate. It does not rely on Oracles or 3rd party APIs. It can be played entirely on the blockchain. So it can theoretically outlive us, and we hope our grand kids are able to play it.
It features two games of chance, a dice-like game and a lottery, along with a referral system.
All components of Spinwin rely on completely decentralized architecture, and all game logic and workings are housed entirely on smart contracts, including the referral system.
Users play by choosing a bet amount in ETH, a number to spin under, and a "house edge" from 0% to 100%.
A random number between 1 and 100 is then generated by a future Ethereum block. Bets require two Ethereum transactions to process, one for the bet, and one to lock in the future block.
If the player spins under their chosen number, ETH is returned.
If a user spins over their number, SPIN token is returned relative to the game state and chosen house edge. The house edge can be set to 0%, however a higher house edge returns more SPIN in the event of spinning under the chosen number.
SPIN can then be used to exchange back to ETH according to game conditions.
SPIN can also be used to purchase LOTTO Blocks, which allows participation in ever increasing lotteries as the game progresses.
The amount of SPIN returned from bet losses decreases as the game is played, so if you believe in the game, it is better to set a high house edge and "lose" to exchange more SPIN for ETH later in the late games.