White Paper

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SUMMARY

 

XWIN is a transparent betting platform for sporting and other events with revenue sharing using the decentralized smart contracts on the Ethereum blockchain.

The unprecedented development of blockchain technology and introduction of smart contracts has led to new opportunities in the field of betting on sporting and other events. At present, for the majority of private players, it is important to have comfortable, convenient and, most importantly, safe and guaranteed access to betting on the outcome of any event, and for investors – to receive guaranteed income from the bookmaker’s activity.

XWIN was created in order to solve these tasks.

 

INTRODUCTION

 

Blockchain is a real-time mechanism for developing trust in an environment without trust using the distributed database.

Development of blockchain technology has led to introduction of smart contracts. Currently, the Ethereum blockchain-based smart contract is one of the most comfortable, convenient and safe for users.

Bookmaker is a specialist who accepts cash bets on results of sports games (horse racing, football, running, etc.), financial, cultural, weather, political and other events. The bets are accepted on certain conditions, with the pre-determined rules of payout.

Advantages of betting with XWIN:

  1. Guaranteed payments by the Ethereum smart contract;
  2. Transparency of transactions and payments;
  3. No account lock-outs due to frequent wins;
  4. No account lock-outs due to arbitrages;
  5. Absence of individual reduction coefficients;
  6. Simplified registration;
  7. Absence of infrastructure risks related to technical problems with equipment and interruptions in Internet access;
  8. Absence of risks of funds embezzlement;
  9. Absence of restrictions on access to the investment funds;
  10. Information security and confidentiality;
  11. Cross-border betting;
  12. Stability of XWIN is determined by the entire network of the Ethereum blockchain;
  13. Security of funds (the players' accounts are placed on the smart contract account and are managed autonomously);
  14. Continuous monitoring and control of the better’s account transactions (constant control over the player's funds, 24/7/365 availability from any place in the world and from any device).

The Ethereum blockchain and smart contracts is a dynamically developing technology for investing, settlement of transactions online, and now for betting as well. It would not be right to disregard the advantages this technology has to offer.

XWIN smart contract performs the functions of an arbitrator that autonomously and completely independently fulfills the terms of agreement. In other words, if the bet was made using the smart contract, the conditions prescribed in the smart contract should be met 100% regardless of the desires of the parties. The better who places the bet with XWIN, receives information about all conditions, and subsequently these conditions cannot be changed, since they are written in the smart contract. The payout amount is locked on the account of the smart contract at the time of placing the bet and cannot be expended or spent prior to the settlement. None of the parties can make changes to the bet that has already been placed, and spend the prize fund. Thus, XWIN is the first and currently the only bookmaker, largely protected and safe from the traditional bookmaker market, and creates real alternative option.

XWIN was established based on the technology of blockchain and smart contracts. It provides an opportunity to make bets in the crypto currency and do it in a comfortable, convenient and, most importantly, safe way.

 

INVESTORS

 

The XWIN smart contract is established with due regard to the main objectives of private investors and capital management funds in the new economy development conditions, and designed to receive guaranteed income from XWIN activities through distribution of the betting margin between the investors.

Advantages of investing in XWIN:

1. Purchase of the XWIN tokens is profitable and accessible.

Participation in ICO XWIN provides investors with an unprecedented opportunity to become a part of the world's first crypto-bookmaker and receive 20% of net income. The XWIN structure allows investors to receive profit with minimal interaction;

2. Early access to the market.

The undisputed advantage of XWIN is its early access to the market and penetration the main part of the market, efficient commissions, and great competitive advantages, the undeniable right of the first;

3. Transparency.

ICO XWIN is implemented using the Ethereum smart contract. Investment security (the deposited funds of the investors are placed on the account of smart contract and managed automatically);

4. Uninterrupted operation.

The XWIN stability is determined by the entire network of the Ethereum blockchain. Constant control over investments, 24/7/365 availability from any place in the world and from any device. Information security and confidentiality at an unprecedented level.

 

ECONOMIC MODEL

 

XWIN establishes new standards of relations between the players and online gambling resources due to the use of blockchain technologies.

There is no secret that the bookmaker business brings a considerable income. The XWIN margin ranges from 6% to 20% of the betting rate. The margin from the better’s bets is credited to the account of the XWIN smart contract and is managed autonomously. 100% of the received margin is distributed as follows:

•        25% - to the fund of guaranteed payments to the players;

•        35% - PR, marketing, promotion and advertising;

•        20% - administration and legal support;

•        20% - income distributed among the investors.

Within the framework of ICO platform XWIN CryptoBet will issue a limited number of tokens, 80% of which will be available to the investors and players.

Application of the general guarantee fund according to the XWIN platform operation provides the investors with a number of advantages, combining free exchange pricing, commission payments and an increase in the nominal price of tokens.

The nominal price of XWIN tokens is guaranteed by the XWIN platform smart contract, and it is directly related to the general guarantee fund. The nominal price of a token is calculated as follows:

1 XWIN token = 50% of the total guarantee fund amount / total number of tokens

This solution allows to avoid risks of zeroing the general guarantee fund and eliminate the risks of increased token exchange.

In turn, increase in the total guarantee fund amount automatically leads to directly proportional increase in the nominal price of tokens, guaranteed by the smart contract. Growth of the guarantee fund is automatic, and its rate is equal to 25% of the XWIN platform turnover.

The XWIN token holders can sell tokens at a nominal price at any time, and the tokens are redeemed directly by the XWIN platform smart contract.

Commission payments are formed by the XWIN platform, and distributed among the XWIN token owners, 20% of the margin is used for the automatic allocation of commission payments.

Free exchange pricing is formed following supply and demand, with due regard to the commission payments and an increase in the nominal price of tokens.

Functions and application of the XWIN token

XWIN tokens are used to connect to and access the XWIN platform by the third-party counterparties, who are required to have the XWIN tokens in order to connect to the platform. XWIN tokens are used for identification of the counterparties, accounting for all transactions, management of the odds, etc.  XWIN tokens also ensure security and representation of all transactions and operations in the Ethereum blockchain.

Having joined the XWIN platform, the bookmakers’ offices, casinos, races, slot machines, lotteries, poker, VIP-Rooms, chess and other rating games gain automatic access to the following solutions for the gaming industry:

•        Betting lines

•        Odds

•        Betting contracts

•        Ticket and token issues

•        Settlement and exchange services

•        ID/Win protect

•        Multi wallet platform XWIN

•        Games blockchain        

XWIN tokens give the companies an opportunity to use the general guarantee fund.

XWIN tokens guarantee accuracy, timeliness and convenience of calculations, in a useful form for the connected companies. Easy software and platform integration will substantially speed up the process.

Connection and access of the players and betters to the XWIN platform

The players and betters who use the XWIN platform have an opportunity to protect themselves against a number of risks:

Blocking, non-payment of winnings, account thefts, substitution of results, etc.

Registration on the XWIN platform and purchase of tokens provide the players and betters with a number of advantages:

•        ID protection

•        Win protection

•        Payments from the general guarantee fund

•        Low fees

•        Accessibility and convenience

•        Cross-platform

•        Multi wallet platform XWIN

 

XWIN Ltd.

 

XWIN Ltd. has been registered in order to solve a number of issues of the XWIN platform integration in the legal field, as well as promotion and administration:

•        Development and support of the XWIN Games software and platforms

•        Implementation of software and platforms

•        Administration and reporting

•        Promotion, marketing and advertising

•        Licensing

•        Legal support

 

INVESTMENT PROTECTION IN XWIN

 

Your funds are protected by the Ethereum system, and in contrast with the standard investments, are stored in the network on the DAO account of the XWIN smart contract.

This type of solution helps to avoid the following negative consequences for the investors:

1. Infrastructure risks related to the technical problems with equipment and interruption of access to the Internet;

2. Risks of embezzlement of funds;

3. Restrictions on access to the investment funds.

 

SPORT BETS AND ENTRIES 

 

The first stage of the XWIN CryptoBet launch:

XWIN CryptoBet is a platform for betting on many types of sport: football, hockey, tennis, basketball, motorsports, American football, badminton, baseball, biathlon, boxing, volleyball, handball, darts, E-sports, politics, rugby, mixed martial arts, snooker, chess, show business and many others. All games, bets and results on the XWIN platform are stored in the Ethereum blockchain. Because establishing a fully decentralized platform for sports betting is complicated by the need to transfer correct results to the contract and to reduce possibilities for various attacks and ways to deceive the system, XWIN CryptoBet will transfer games and results to the contracts using the trusted addresses. Despite the fact that this brings the centralization element into the platform, all transferred games, bets, and results will be transparent.

XWIN CryptoBet API:

The XWIN API is used to receive metadata of the sports bets. API provides metadata required for the functioning of the XWIN smart contract, such as dates, times, team names, leagues, events etc., without increasing the value of the smart contract with data that does not require decentralization and reducing the deductions - gas fee. The bids, bets, games, payouts, winners, etc. are identified by ID in the smart contracts.

Results and verification:

All bids, bets, games, payoffs, winners and results are recorded in the XWIN smart contract and are verified against several sources of information. This excludes the possibility of errors during the transfer of bets and results to the smart contract. Users can view and verify the results in the xwin.io interface or through XWIN API, and also verify results sent to the smart contracts through any wallets and web interfaces manually in the Ethereum blockchain.

 

TOKENS AND ICO

 

Launch of ICO XWIN CryptoBet and open sale of tokens is on October 30, 2017 and will last exactly for 3 months, until January 30, 2018.

Pre ICO: start on 30/10/17, finish on 31/12/17

ICO: start on 01/01/18, finish on 30/01/18

During the development of the platform, the investors will be able to have access to the XWIN tokens.

The cost of one XWIN token is 0.005 ETH.

20% (XWIN tokens) – the blocked share of the founders being available 1 year later. This encourages the XWIN CryptoBet team to develop the platform and keep the motivation for sustainable growth of the company's business;

80% (XWIN tokens) – the tokens for open sales.

The funds received under ICO XWIN will be distributed as follows:

32% - development: hiring developers for the team to develop smart contracts, interface and applications;

15% - legal expenses: licenses, attorneys' fees and fees for other legal actions/procedures required for the legal operation of the platform in most countries in the world;

35% - PR, marketing and advertising: sponsorship contracts, promotion etc., PR campaigns to attract users, payments according to the referral program;

15% - administration and maintenance: all other operational costs required for daily running and prospective development of the platform;

3% - Bounty Funds Distribution.

In the case of increased interest in ICO from investors, there will be additional emission of the XWIN tokens equal to the amount of additional investments with a proportional percentage allocation of shares.

 

ARTIFICIAL INTELLIGENCE XWIN

 

Development of artificial intelligence based on the machine learning to calculate the betting coefficients and the probability of events.

The use of artificial intelligence where the machine is learning functions for calculating coefficients and bet scanning allows to determine the most beneficial values of the coefficients and keep a balance between the profit and payouts to the betters.

The use of artificial intelligence in the work of bookmakers allows to achieve a number of undeniable competitive advantages:

1. Accuracy of the coefficient calculation;

2. Calculation speed;

3. Error elimination;

4. Round-the-clock monitoring, instant response to the modifiable events;

5. Absence of a human factor;

6. Increase of the complexity of mathematical computation models.

The artificial intelligence also reduces the cost of human resources, decreases the number of incorrect coefficient calculations and results of matches that makes its use advantageous and allows the XWIN Company to maximize profits.

 

TECHNICAL SOLUTIONS

 

Structure

The technical implementation of XWIN CryptoBet consists of two main components: a website interface and a smart contract on the Ethereum blockchain.

The XWIN prize fund and payments to the betters

All XWIN betters’ funds are located on the XWIN smart contract account at the address: https://ethereum.com/0x1fZw71oRt in the public domain.

The prize fund of the bet, the total prize fund and the coefficients XWIN CryptoBet are calculated by the smart contract when the better accesses the smart contract, using the API of the blockchain explorers.

The prize fund of the bet, the total prize fund and the coefficients XWIN CryptoBet are displayed on the main page xwin.io and in the personal account of the better graphically and in the text form.

Smart contracts on the Ethereum blockchain

Each and every bet, coefficient and transaction with the betters’ funds are controlled only by the XWIN smart contract using the Ethereum blockchain. The XWIN smart contract, developed by us, is responsible for betting and bet compliance.

Flow of the better’s funds

The better makes the bet by sending ETH directly to the XWIN CryptoBet contract. After the ETH deposit, the smart contract launches a function that calculates the prize fund of the bet, the total prize fund and coefficients to be paid to the better based on the current coefficients, and activates the smart contract function to make a new bet with the better who sent ETH.

Codes of the XWIN smart contracts

You can find the codes of all our contracts in our GitHub with the following repositories: (https://github.com/xwincryptobet/Smart-contracts), addresses of the smart contracts in the Ethereum blockchain:

ICO: 0x4235dd149a4139e9b8e840266eaa895084c1460c

Token: 0x32ff589e7ac1c1379fb56d9d1040cd74c7c50a62

Dividends: 0x4be891c79f5f3b7aa645c6638d791f25c9521fbe

 

POSSIBILITY OF USE ON VARIOUS PLATFORMS

 

Mass expansion of online bookmakers and digital casinos based on the blockchain, predicted by the experts, will lead to mass establishment of interface parts for bet placement that will be available for various platforms with the aim to increase the implementation pace and customer retention. XWIN will develop the in-demand web-interfaces and mobile applications for Android and iOS devices.

 

OTHER GAMES

 

Over the time, other games in the form of smart contracts using XWIN for all transactions will be added to the platform with due regards to the requirements of users.

 

ROADMAP

Q3 2017:

1. The concept of XWIN CryptoBet;

2. Smart contract XWIN Beta;

3. White Paper XWIN CryptoBet.

 

Q4 2017:

1. DAO smart contract XWIN;

2. Public placement of the XWIN tokens;

3. Bookmaker licenses and legal registration;

4. Creation of the bookmaker's site xwin.io;

5. Release of beta version for the mobile applications.

 

Q1 2018:

1. Smart contract XWIN with the system accepting fiat money;

2. Public release of mobile applications;

3. Artificial intelligence XWIN. Development of artificial intelligence on the basis of machine learning to calculate betting rates and probability of events;

4. White Paper of the betting stock exchange XWIN;

5. XWIN betting on races.

 

Q2 2018:

1. Aggressive PR-campaign and marketing;

2. Smart contract XWIN lottery;

3. First distribution of profits among the investors;

4. Development and introduction of classic gambling games using the blockchain technology;

5. Release of smart contracts of the XWIN betting stock exchange.

 

Q3 2018:

1. VIP ROOM XWIN CryptoBet. Calculation and launch of individual bets for the VIP-clients;

2. Multi wallet platform XWIN;

3. White Paper and smart contracts: DAO casino, DAO poker, DAO slot machines;

4. Release of the betting stock exchange XWIN.

 

Q4 2018:

1. DAO casino;

2. DAO poker;

3. DAO slot machines;

4. DAO chess.

 

BOUNTY FUNDS DISTRIBUTION

 

During the ICO XWIN 3% (XWIN tokens) of the funds attracted from the investors is sent to the Bounty Funds Distribution Program.

The XWIN team welcomes everyone who wants to join our program to improve or promote XWIN services. Each participant of the Bounty Funds Distribution program will be rewarded with the XWIN tokens.

30% tokens present the remuneration for the developers and technical experts in relation to the XWIN Bounty Funds Distribution program.

Developers and technical experts who wish and are able to implement applications, add-ons, plug-ins, interfaces, additional software packages and other IT elements of the system should contact the Development Manager.

70% tokens present the remuneration for participants of the marketing and PR-programs for the XWIN Bounty Funds Distribution.

Twitter Bounties – 25% tokens;

Facebook Bounties – 25% tokens;

Blockchain forums Bounties – 50% tokens.

 

DISCLAIMER

 

PLEASE REVIEW THIS DISCLAIMER CAREFULLY. IF YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR LEGAL OR FINANCIAL CONSULTANT.

The information set out below does not imply any elements of contractual relations and may be incomplete. Despite the fact that we make every effort to ensure that all data on the given web-site is current, accurate and relevant, the proposed document does not replace consultations with the specialists. xwin.io does not guarantee or assume any legal responsibility arising from or related to the accuracy, reliability, relevance or completeness of any material contained in this document. Individuals intending to invest in the project, should consult an independent specialist before performing any actions outlined in this document.

You do not have the right to participate in the public sale of XWIN digital assets, if you are a citizen, a resident (tax resident or otherwise) or the holder of the Green Card of the United States of America or Singapore or another representative of the United States of America or Singapore. "A representative of the United States of America or Singapore" is an individual residing in the United States of America or Singapore or any institution established or registered in accordance with the legislation of the United States of America or Singapore. The USA citizens residing abroad can also be considered as the "representatives of the United States of America" under certain conditions.

If while using this web-site, you invest in the project with the Chinese, American, Canadian or Singapore IP address, your actions are considered illegal in accordance with the legislation of your country.

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