I was introduce to Dominance from one of the community members over their Telegram, Crypto Nomad, I have read their whitepaper and seen most of the youtube videos regarding this project, this is a honest and unbiased review, I am participating on their bounty program, so yes I own some tokens already.
Dominance goal is to be a decentralized application platform on the IOST Blockchain where they want to develop multiple dapps in the casino and gaming area, the team have study the market and wants to implement a more stable and consistent way to get a passive income as their token UBI meaning is “Universal Basic Income”.
The games that will launch at first are some casino games that we have seen before with a little twist from the developers like Hi-Lo DIce, Bonus Craps, LamboMoon and Black Jack, there is no demo at the moment since Dominance is at IEO “Initial Exchange Offering” stage, its not actually on any exchange but you can buy the tokens currently using Metamask (an Ethereum web wallet) there for I think IEO is not the best description for this presale.
Many on the crypto dapp space look to be the next Tronbet (Wink), in my opinion as long as a dapp has a unique utility, good support and marketing there could be more than one Tronbet on this crypto dapps space.
I will resume their whitepaper basically in the Platform and Token features:
–Dominance on IOST Blockchain:
Dominance decided to develop their platform for some key features, for once the IOST TPS, IOST claims 100,000 TPS being faster than ETHEREUM and TRON. The second reason is the (POB) Proof-of-Believability consensus algorithm decreasing the transactions per fee, other than that so far IOST is not that far from TRON but with a lot of potential. Dominance also has mention that they will go cross blockchain as many other Dapps, the first two will be IOST and TRON.
70% of the UBI Token will be available through mining, 15% will be for Dominance Team and the remaining 15% allocated as equity for the IEO (Initial Exchange Offering) with an initial sale value of 1.46 IOST for the first stage and 2.93 IOST on the second stage.
There will be 100 mining stages, each stage have 1.4 million available.
–Exchange Initial Offering Stages:
Stage 1 – 10,000,000 at 1.46 iOST PER TOKEN – Soft Cap
Stage 2 – 20,000,000 at 2.93 iOST PER TOKEN – Hard Cap
–Dominance Decentralize Exchange:
Dominance is shooting to the stars with some of their plans, they look to have their own DEX (Decentralize Exchange), Exchange tokens have been very profitable for investors some examples are Kucoin Shares and Binance Coin, if UBI can become their token exchange a pay revenue to their investors from the Dapps and DEX transaction volume would be awesome but thats just an idea, its on their whitepaper.
–Burn and Buy Back:
As many other platforms, for example Binance Coin; have a burn plan that happens every quarter or month, this helps to reduce the supply of the token and if there is utility on it and demand price may go up, people missunderstand this because if there is no demand for the token price wont go up, its up to the Dominance team to get volume and activity into their dapps.
UBI Tokens need to stay on the users wallet for over 24 hours before starting to recieve daily dividends.
75% of the house profits from daily use of Dapps will be distributed as dividends every 24 hours, 10% of this 75% house profits will be allocated to Dominance team to carry out the token buyback and burn program, 25% of the 75% house profits will be use for the Decentralize Exchange maintenance.
Dominance is offering 25% of the referal investment everytime someone use your link, this is way but way more than most blockchain projects offer, some consider this a good thing and some a red flag it all depends on your opinion on IEO or Presales, an IEO or ICO are both presales.
Dominance wants their early investors and supporters to be appreciated with considerable rewards for advertising and spreading the word of this platfrom providing a good bounty plan, details on the next image.
After going through all the features, ideas and goals of the Dominance team I do feel they are trying to get the community involve on core decisions based on their opinions on telegram and youtube, from one of the Dominance community members Cryptosaint , I like when people try to do good things and share with others, they want to develop to 100% decentralize platform for casino and gaming dapps. Time will tell and we do need to wait for products or demo to be release, at this point the plan sounds good but there is no tangible product jet, we all know that in crypto there could be limitations or obstacles during the process of developing a good product and I think Domininace is aiming for big things based on their plans, Dominance Team is looking to develop a complete package of DEX, DAPPS and Deflationary Token.
We all know presales are risky so do your homework dont get HYPE just because someone on Youtube or Social media say this will be the next TRONBET, dont do that, study the project or even wait for their first release before investing on this or any other platform
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