Magic Dice v1.3 - The MAGIC Token - Earn dividends by playing Dice

in #steemit5 years ago

Magic Dice is a transparent and provably fair dice game on Steem. If you haven't tried the game yet, go to and give it a try. If you want more information about Magic Dice, read our introduction post.

Magic Dice is currently one of the fastest growing dapps on STEEM. Since the launch, more than 7 million STEEM and 30000 SBD have been wagered. More than 400000 bets have been placed by more than 1000 Steemians. Since the referral program launch, Magic Dice has rewarded users with more than 10000 STEEM in referral rewards.

Now we are moving to the next stage with the introduction of the MAGIC token. This will put Magic Dice on the same level as other dice/casino dapps like EOSDice or TronBet.
The MAGIC token will enable us to reward our community and grow together with our community. 

The MAGIC Token

The MAGIC token is a utility token that rewards users with dividends. The more you play, the more tokens you will receive. The more tokens you have, the more dividends you will receive from the profits that Magic Dice generates.
There is no ICO or token sale for MAGIC tokens. The only way to get MAGIC tokens is by earning them. MAGIC tokens aren't like other tokens that only have some value due to speculation or pump and dump. The tokens will always have value as long as the platform generates rewards. MAGIC token holders will receive rewards for the lifetime of Magic Dice.

As many of you know, Steem doesn't support custom tokens yet. SMTs (Smart Media Tokens) are in development and should be released soon. Even when SMTs aren't available yet, we can still distribute the tokens and reward our users. The MAGIC tokens aren't transferable or tradable yet. Once SMTs are ready, MAGIC tokens will be created as SMT. After that, you will be able to transfer, trade and play with your MAGIC tokens.
You can see your MAGIC token balance when you log in on Magic Dice.

Earn Dividends

The dividend payout will start before MAGIC tokens are created as SMTs, in February 2019. We have to get the distribution mechanism ready and have to make sure all tokens are getting distributed correctly. At this point it is very important for Magic Dice to build a larger bankroll in order to support larger bets and more games.

Magic Dice will distribute 100% of the rewards to all token holders. If you hold 1% of the total supply, you will receive 1% of the profits. Magic Dice will distribute 70% of the tokens to players. At the beginning Magic Dice will hold a majority of the tokens and after time the community will hold the majority of the tokens. The more Magic Dice grows, the more rewards it will distribute to the community.

Token Distribution

There are 7 billion Magic tokens and 70% of the tokens are distributed to players on Magic Dice. 60% of the tokens are distributed via an interactive airdrop (bets, referrals, delegations). The bonus supply consists of 10% of the tokens and is distributed via events and promotions. We have already distributed 30% of the bonus supply (3% of the total supply) to all players who have played the game since the launch!
20% of the tokens are reserved for development and maintenance. 10% of the tokens are reserved for the team.

Earning MAGIC tokens is already possible. It will be a lot easier to earn MAGIC tokens at the beginning than later on. We estimate that 20%-35% of the total supply will be issued in the upcoming weeks and months.

How to earn MAGIC Tokens?

The easiest way to earn MAGIC tokens is by playing Magic Dice. For every STEEM wagered you will receive 200 MAGIC tokens. The distribution rate will be halved every time 5% of the airdrop tokens have been issued. We call it "Proof of Dice" 😉.
You can wager SBD as well. Magic Dice will send you your tokens based on the latest STEEM/SBD exchange rate.

There are no extra costs for receiving tokens. Magic Dice has the same 2% house edge as before. You will receive tokens no matter if you win or lose a bet.

Earn tokens for Referrals

By referring a user, you earn 10% of the house edge on all their bets. Magic Dice has already rewarded referrers more than 10000 STEEM!
From now on you will receive 10% of your referred user bets as Magic tokens as well. Those tokens aren't taken from the referred user, but issued extra from the supply. That means referring users to Magic Dice is more profitable than ever.

Go to Referral to get your referral link and start earning with Magic Dice!

Earn tokens for Delegations

Some users asked us if we can create some kind of delegation reward program.  Magic Dice doesn't rely on the reward pool for funding the project. We only need Steem Power for Resource Credits in order to handle more bets. We haven't used our Steem Power for voting that much. We still want to give users the ability to support the project and earn some MAGIC tokens with their Steem Power.

Users who delegate their Steem Power to @magicdice will receive MAGIC tokens on a weekly basis. For every SP you delegate, you will receive 50 MAGIC tokens per week. The distribution rate will be halved every time 5% of the airdrop tokens have been issued.

Magic Dice needs the Steem Power mainly for Resource Credits. For now, we are only using our Steem Power occasionally to promote some posts or upvote users who support Magic Dice. The reward pool is limited and other projects rely on it a lot more than we do.

We could reward players by upvoting their posts/comments. We are not sure if that is something players or the community wants. We would like to hear your feedback on that matter.

50 SP , 100 SP , 500 SP , 1000 SP , 2000 SP , 5000 SP , 10000 SP

Strong SMT Economy

We believe in the Steem platform and SMTs. We believe a healthy token economy will bring more users, investors and adoption to the Steem ecosystem. Steem needs tokens that have real value and a use case.
MAGIC tokens will be part of the ecosystem. We want to enable users to play with their favorite SMT on Magic Dice.

Upcoming Features

  • Multi-language support: We want support Magic Dice in other languages. Magic Dice has a strong Korean community and Korean will be the first language we are going to add. Other languages will follow after that.
  • More games: Dice is one of the most favorite gambling games, but it isn't for everyone. We are going to add other games like a Lottery or a Crash game.
  • Better UI/UX: In the upcoming months we are going to continuously upgrade the UI and improve the usability of Magic Dice.
  • SMT support: Once SMTs are live, you will be able to play with SMTs as well. Of course the MAGIC token will be one of them.

Resteem and WIN 250 STEEM and 100000 MAGIC

Everyone who resteems this post can win 250 STEEM and 100000 MAGIC. In seven days we are going to select a winner. The winner will be selected with a dice roll. You need at least 300 followers to receive the reward .

Play responsible and don't overindulge. Don't play with more than you can afford to lose.
If you have some questions, join our Discord channel or leave a comment. Resteem this post and follow us on Steem to support Magic Dice.

If you reside in a location where gambling over the internet is illegal, please do not click on anything related to these activities. You must be at least 18 years of age to click on any betting or gambling related items even if it is legal to do so in your location. Recognizing that the laws and regulations involving online gaming are different everywhere, readers are advised to check with the laws that exist within their own jurisdiction to ascertain the legality of the activities which are covered. The games provided by Magic Dice are based on blockchain, fair and transparent. When you start playing these games, please note that online gambling is an entertainment vehicle and that it carries with it a certain degree of financial risk. Players should be aware of this risk, and govern themselves accordingly.

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There are no extra costs for receiving tokens. Magic Dice has the same 2% house edge as before.

I never understand how magicdice impletmented the house edge, do you mind to explain how can users be sure the house edge is 2%?

It's included in the multiplier/payout.
Bet with 50% win chance without house edge would pay you 2x. With the house edge of 2% it's 1.96x.
You can verify that every bet has the correct house edge of 2% when you check the multiplier/payout.

Once I bet about 460Steem with 94% winning chance on MagicDice,
(First betting ever on MagicDice) and guess what Happened.. lol

-> Since then I simply quit playing dice. :)

2% house edge means House will grow about 2% (continuously) as people keep betting.

More you play, more you'll lose.
That is the simple rule of the Dice.

So play small just for fun.
You can not make your living expenses from gambling.

If you win the first game and doubled/tripled your wager,
That is actually the best time to quit.

Cheers ;)

I am learning that through trial and error. It is fun but damn I can see the addiction epidemic in gambling more clearly now haha. Yes, I did realize the more I play the more I lose. S o now I figure just a little wager here and there on a fair amount may do me better.

Sorry you lost that huge bet on the 6% possibility, but it happens in Dice game. However, I don't think house edge will grow in any form as one keeps playing. House edge should be at the same level for every new round starts.

Nothing to be sorry mate,
that was merely a crisp from my trading profit :)

And Yes, I was talking about the 'Dice market' & size growing,
not the House edge changing. House edge will stay same as now,
but the MagicDice cap will be definitely bigger.
Because some people just can not stop gambling.. :P

Have a good day!

Thanks for the brief, clear enough! Great business ahead!

Resteemed it, followed you guys, made post in app crypto predictor in playstore and also made a video much before you guys started promoting.
I hope I can win this and gain back my lost STEEM!

Take a look at this if you interested in DiceBot -->

Great job guys.
Steem needed this.
Upvoted, Resteemed and also delegated 10K.

Great job, you are my favorite gambling dapp in steem yet, keep it up. Resteemed. Hahahahaha!!! MagicTokenToTheMoon!!!

Posted using Partiko Android

I resteemed this post! Very cool ideas. I love the idea of rewarding people with upvotes, that is a practical value backing the token.

This is one of the best project on steem platform. And I suggest all steemians to play few steems so that we rise up on the dapp rating webs. This is best way to support steem blockchain. I am playing and losing a lot but i have the reason for doing it as mentioned above.

We need to spend our steem holdings on projects that increase value of steem blockchain

Hey, man take a look at this if you interested in DiceBot -->

I am really addicted to it. It is indeed a fair game
Only hope that the SMT happens soon. Upvoting posts about @magicdice will be an incentive

I'm going with 2000SP Delegation. I love the vision and would like to get my hands on as many MAGIC tokens as possible. I've also posted here to increase awareness, earn referrals and obviously resteemed as well.

I´m glad to share this post and your project, without a doubt one of my favorites!!

Looks like it's time for me to get back rolling the dice!

sshhhh just delegated 10k ;)

What day are the magic tokens paid out for delegaters?

Posted using Partiko iOS

They are sent once a week. Next distribution is on Friday.

Few questions:

  1. Why dividend will start in February when it's been accumulated every day?

  2. Is there any date planned in Feb for first dividend? What's that?

  3. What will be the feequency of payout thereafter - daily, hourly or in real time?

  4. What if I delegate you today and take back my delegation before Feb.? Will I receive dividend for this period?

  5. Where can I see the accumulated dividend pool on a daily basis before you start paying it out?

  6. Is there any provision for burning tokens in the future? Please provide details regarding that too.

  7. Will you contribute the house edge for all future games to dividend pool too?

  8. Are you considering to distribute dividends proportionately to all 7 billion tokens or just the tokens in circulation at the time of a given dividend cycle?

  9. Would you be holding 2.1 billion tokens from day one or your share of tokens will always constitute 30% of the total circulating supply?

Oh and I forgot to ask a couple more questions:

10 Will the age of tokens with the token holders be considered for the first dividend payout or token held today and tokens held just a day before the first payout will be considered equal?

11 Will you distribute all accumulated dividend in your first dividend itself?

That's a lot of questions.
A lot of them are already answered in the post.
We are going to release more information about the tokens/dividends in February.

Like we mentioned in the post, the dividend payout will start in February. Probably in the first or second week of February. No dividends before that, only token distribution for now.

We just launched the token and we have to distribute it first. The dividend payout code isn't ready yet. We are currently in the growing phase and it is important to build a larger bankroll to support larger bets and more games. That will increase the dividends for all players long term.

We are at an early stage and you will need more patience. The MAGIC token isn't a pump and dump token or get rich quick scheme like many other tokens. You will receive steady dividends with the token.

I appreciate that you've got a long term vision for the development of this platform.

I'd be glad if you can throw some more light on Q. 9th & 10th:

9. Would you be holding 2.1 billion tokens from day one or your share of tokens will always constitute 30% of the total circulating supply?

10. Will the age of tokens with the token holders be considered for the first dividend payout or token held today and tokens held just a day before the first payout will be considered equal?

Thanks in advance!

Who is @powerguy in relationship to you?

He's currently is down 118,000 Steem and I assume it's a way to farm magic through an alt/friend and that technically doesn't lose anything.

An early supporter of the project.

Has played a lot since the beginning. He has been playing before we announced MAGIC tokens.

No we aren't mining our own tokens, if that is what are you implying. Doesn't make much sense to do that. We could have just given less tokens to the community. That would have been a lot easier.

So you are saying he is just playing the game (and continues to play) after losing 118,000 STEEM ( currently at 127,000 STEEM in losses) playing the game and he isn't going to be given that back somehow?

Correct me if I'm wrong but don't you get the same amount of tokens no matter the bet. Surely setting it it 95% chance to win and then running with that from there on, getting steem*200 each go is a better way to get tokens. I cant imagine that this was their plan but so far I've put in around 5 steem and now have almost 20 000 tokens.

There is a difference, for a 1 STEEM bet I got 200 magic tokens, for a 10 STEEM bet, I got 2,000 tokens.

Yes but the chance that you lose your bettings can be anything from 5% to 95%. If all you want to do is accumulate magic tokens now in the off chance they are worth something latter, why take the higher risk when the token pay out is the same? Am I I missing something obvious here?

Depends if your goal is to accumulate unknown tokens or win Steem.

Sure, well I guess they got a few steem out of me for it so probably worth it for them.

Hope you got a better overstanding of it now mate?!


Great job guys! I have been a huge supporter from day one even before the tokens because I saw the potential in this. Going to delegate big and continue to promote, really impressed so far! Resteemed as well!

Awesome! What it needs now is an autobet feature!.... seriously this just literally made me stop my powering down and invest more SP to delegate... awesome initiative guys!

Autobet doesn't really work directly on Magic Dice. We don't have the permissions from SteemConnect or KeyChain to send transactions.

You can use some script/bot to play. You could use MyDiceBot -> for autobets.

Yeah awesome song :)
You can enter any SP amount on for delegation.

This is perfect soundtrack for this one LOL

Nice, I didn't see this coming. I'm resteeming this solely cause of your work and vision, not because of the reward even though it is cool!

Good job.

Posted using Partiko Android

You are leading the way! Therefore, I have delegated 1000sp! Keep up the great work, you are great for steem blockchain!

Posted using Partiko iOS

Guys, guys - one question though. Is it possible, or will be in the future, to send you some STEEM so I can have a deposit? And than make rolls without need to make transfers every time.

Probably not. It's better for the platform and the users this way.
Otherwise Magic Dice is responsible for your balance. You would need to trust Magic Dice for deposits/withdraws and keeping your STEEM safe. We want to reduce the amount of trust you need to minimum.

You can use KeyChain for a smother playing experience.

Ah, that's true, thanks for the tip :)

Also - are you planning to add more games? And more ways to invest?

I remember a BTC casino that you could send your BTC to - by this they could offer a higher roll and they would offer you dividends for doing so.

I ask because you guys clearly know what's up, I also really like how responsive and light the website is :)

Okay, so I'm back here in Steemit because of this. LOL JK. But this is great news! I'm in, resteeming and will try to delegate as well. Rocks!

Wait doesn't this mean you can just set the role to a 94% chance of winning and then accumulate tonnes of tokens with very little risk?

I assuming you've just worked this out and that's why its now offline. Damn, wish I got here quicker!

Ok so that's not the reason it was briefly down. Either way you should probably change the way tokens are distributed. Very easy to amass a lot by doing this.

It may seem that way, but using a high winning chance gives only a slight advantage for accumulating tokens. Only when you play with all your STEEM tokens, it will matter. You will only have less risk short term.

For Magic Dice only long term matters. Thus every bet is equal.
It doesn't matter if you bet with 50% or 94%. All those bets have the same house edge of 2%.

Yes, I've been through a learning process on this in the last day or so. It makes a lot more sense to me now, interesting system.

I just made this bet:

I was thinking: "meh I'm going to give them 0.162 Steem to have an exact balance of 8 Steem" and to my surprise, I won!

15.876 Steem

Now is a good time to quit the game (for a while).


98x multiplier insane!!!

Posted using Partiko Android

Lol excellent!

Posted using Partiko Android

needs autobet

You could use MyDiceBot -> for autobets.

@magicdice please block blacklist me on your game so I can not play the game no more I've lost to much thanks in advance

Awesome I already received my first dice tokens. I can see huge potential for online casino games on Steem. I would love to see more games especially Poker, Roulette, Black Jack and Slot machines...any plans on that?
You could use the delegated SP to fund an extra jackpot that could be won for example every month???

Posted using Partiko Android

Where do you see how many magic tokens you have?

Just log in on and you will see your MAGIC token balance.

Re-steem, 100% upvote and i will delegate 1000 SP.
Best regards

1000SP nice!!! Du scheinst das Potential auch zu sehen sehr gut!

Absolut!! Das Potential in diesem Segment ist riesig!

Wahnsinn! Mit viel Zeit und Langeweile kann man sich die Token auch mit einer hohen Gewinnwahrscheinlichkeit leicht würfeln. Das ist dann aber weniger elegant;)

Posted using Partiko Android

stimmt! wir würfeln mal im Schichtbetrieb heute:)

Haha genau :D

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nach 2 h würfeln haben wir insgesamt ca. 44 steem gewonnen bei einsätzen von je 10/20/30 steem pro wurf, und immer 51% chance, dazu ca 1 Million der Tokens, was auch immer die wert sein werden, sehr wenig vermutlich.
Ein wenig würfeln wir heute mit 20 steem einsätzen noch weiter, dann ist genug.

upvoted and resteamed been using the service since day two or three. Currently have 1104561.2MAGIC (I don't know yet if thats a lot, please let me know @magicdice ) Thank you! EDIT: just delegated 100 steem hopefully that is of aid.

Thanks for referring me to Mdice.

What a great and smooth dApp! Congrats on making it @magicdice! Loving it so far.

resteemed and followed. just started to play dice game

Resteemed, i have played this alot and also loved it but i am going well dpwn then i had before....
Hope SMT can save me now

how can you spam a dice game xD

Im still waiting for those other 6 dice games to be rolled!

you still got my money.
Nowhere you write down Terms of service and suddenly im blocked because of spam?

Can somebody from your team fix this please?!
apart from this your game is fun!

If you send hundreds of low value bets to Magic Dice, you are spamming Magic Dice and draining our resources.
There are lots of accounts with a lot more Steem Power who could drain all our resources. We have to protect our service to provide a reliable service to everyone.

We have sent you a refund. You have to increase your bet size at some point or play less. The limits usually only get reached by bots.

Okay great thank you for the declaration. so i gotta play more relaxed :D

awesome to get into steem dapps early !!!! now steem has it all !!! :D

I actually won 192 Steem from a lucky bet, but am currently down quite a bit. It's fun, but the rule of not getting more than you can afford to lose is always true

Hey i also resteem this post & i play this everydays

it's amazing, really something new on steem blockchain, will try it sometime.

Posted using Partiko Android

Resteemed, so I can get my 500 steem back lol, I had fun anyways :D

Thank you magic dice, I have resteemed your post.

Good job I like it best project on steem platform

This is huuuuge! Now you are as good as all of the other betting games out there. Played your game before, but was a little bit bored, but now I can start giving my money to you again :P

Have you thought of advertising? You can point out that because of the Steem blockchain people don't need to send funds to you before playing and that there are no gas fees and almost instant transactions.

Resteem to get 250 steem haha

I resteem this post.

I'm excited about this news already :D

great stuff !! looks like you guys are on the right track , only if SMT gets launch faster ... would be so interesting to see something similar to betdice where you can just use diff tokens to bet as well.

Great update and thanks for keeping us informed!

Looking forward to the "lottery" you mentioned :D

This is really interesting. More power Magicdice


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