DEGENS WHITEPAPER

Degens is the first crypto casino owned by the people who play it. 97% of the platform's net revenue, the gaming revenue left after game-provider fees and the bankroll reserve, is committed to buying $DGN back on-chain and burning it. We keep 3%. There are no venture rounds, no private allocations, and no insider pricing, and every participant in the sale gets the same terms.

This paper defines the whole thing in plain english: how the buyback works and how you verify it, what the token is and does, how the raise is structured and where the money goes, the casino behind it, the roadmap, and the risks. Nothing here is a promise of profit. It is a description of a mechanism and the rules around it.

Crypto casinos print enormous revenue, and almost none of it reaches the people generating it. Where a token exists at all, the platform commits only a fraction of the take to it and keeps the rest, and the supply is usually concentrated with insiders who paid little for it.

The contrast that motivates Degens, drawn from competitors' own published tokenomics and on-chain data:

• Shuffle: about 65% of supply was allocated to insiders. Seven months after launch it moved its larger burn stream into a weekly lottery, so the buyback now fires only on bets placed in SHFL, a fraction of volume. Public buyers paid roughly $20M for about 5%.
• Rollbit: by its own dashboard, only about 10-13% of GGR funds the buyback (its biggest segment, the casino, at 10%). The burns are real and on-chain, but the house keeps the rest.
• The pattern is the same: a slice to the token, the majority kept by the house. Degens inverts it, routing about three-quarters of GGR to the buyback.

Degens is two things bound together: a licensed crypto casino, and the $DGN token tied to it by the buyback.

You play. The house earns. 97% of net revenue buys $DGN back and burns it. Every game, every currency, every bet type. Supply only falls. The fewer tokens in circulation, the larger a share of the same net revenue each remaining token represents.

"Own the house" describes that economic alignment, by design. It is not a share certificate. See "Ownership" below for exactly what it does and does not mean.

This is the core of the system, so it is defined precisely.

A worked example, per $100 of gross gaming revenue (illustrative). The game-provider fees come out first, say $12, and $10 is kept to grow the bankroll. What's left, $78, is net revenue: 97% of it buys back and burns $DGN, the other 3% is retained. Overhead, marketing, and player rewards are funded from the token allocations and the raise, not from this revenue, which is why so much of it reaches the token. The dollar amounts only illustrate the split; the rule is fixed.

Two things about the bankroll. The 10% tops it up until it reaches a healthy target, a set multiple of the maximum bet; once there, it only needs to track the max bet, so less is held back and more flows to the buyback. It never becomes an open-ended skim. And it absorbs variance: in a week where players win more than the house, net revenue is zero, there is no top-up and no buyback, and the bankroll covers the shortfall, which is why the raise capitalises it up front.

How it runs in practice: once a week, net revenue is swept into a single public buyback wallet, which buys $DGN on the open market and sends every coin it buys to a burn address it can never leave. To limit front-running of a predictable order, the weekly buy is executed in variable tranches rather than one lump at a fixed time. Each sweep, purchase, and burn is its own on-chain transaction.

Verifiability is the entire point. Unlike the competitors above, the whole flow is checkable on-chain without trusting us; exactly how is set out in "Transparency & verification" below.

Honest caveat, stated plainly: the buyback depends entirely on net revenue. The Operator makes no guarantee about the frequency, volume, or price impact of buyback operations, and if net revenue is zero, buyback is zero.

The buyback is only worth anything if you can check it, so the whole flow is built to be audited by anyone, without trusting us. That is the line between Degens and every rival that asks you to take the burn on faith.

At the Token Generation Event we publish three addresses:

From there we keep a running, public ledger of every weekly sweep, buy, and burn, each linked to its transaction. Every week it publishes the full waterfall: gross gaming revenue, the game-provider fees, the 10% kept for the bankroll, the net revenue that results, the $DGN bought back, the $DGN burned, and the supply remaining out of the fixed one billion. Every figure between gross revenue and the burn is shown, so the 97% can be checked end to end rather than taken on trust. The chain is the record.

Security. The buyback wallet is governed by a multi-signature setup, not a single key, so no individual can move funds unilaterally. The token contract and the buyback logic are independently audited before the TGE, and the audit is published.

$DGN has a fixed maximum supply of 1,000,000,000 (one billion). No tokens will ever be minted beyond that cap.

$DGN is a utility token for use within the Degens ecosystem. It is not a security, equity, debt instrument, or investment contract, and holding it confers no dividend, profit-share, voting, or governance rights (see Legal).

What $DGN does:

• It is the buyback target, the economic spine of the platform: 97% of net revenue buys it back and burns it, on-chain, week after week.
• It is a wager currency. You can bet directly with $DGN across the casino and sportsbook, and wagering in $DGN pays more back than betting in anything else, through a boosted rakeback rate and extra rewards. The buyback itself runs on all net revenue, whatever currency a bet is placed in, so it never depends on $DGN volume.
• It pays you to hold it. Holders earn rakeback and VIP standing that scale with how much $DGN they hold, set to be among the most competitive terms in crypto gambling. The full rewards tiers live in the VIP programme, published at launch.
• It can be staked for boosted rakeback and a share of the rewards pool, with an unstaking cooldown. Staking pays holders to lock $DGN rather than sell it, taking supply off the market and steadying the float through launch and beyond. Those rewards come from the rewards allocation, never from the 97% buyback. Staking carries no voting or governance rights; it is a product benefit, not a security.
• It anchors the Genesis NFT and founding-member perks for the Owners Club.

Fixed supply of 1,000,000,000 DGN, allocated as follows. There are no private rounds, no venture allocations, no advisory tokens, and no insider pricing of any kind.

Everyone buys on the same terms at the same price, with no lockups and no special tranches. Getting in early is rewarded with the Genesis NFT, not a cheaper price. The per-token price is set and published ahead of the Token Generation Event.

What's locked, and what's yours. Everything the project controls, the team, treasury, and the ecosystem and marketing budget, is locked or vested over one to four years, none of it liquid at launch. The liquidity is locked so it cannot be pulled. Everything the community receives, the airdrop, the sale, and the NFTs, is liquid at the Token Generation Event. No forced lockup on you, and no insider float that can dump on you. Your supply is yours to hold, sell, or stake, and staking pays you to hold rather than sell, which steadies the float from day one.

The single biggest allocation, 31% of supply (310,000,000 $DGN), goes straight to players and the community. Not to a fund, not to insiders, to the people who actually use the platform. It is the Hyperliquid lesson taken seriously: the users who build the volume should own the upside.

It splits into two parts:

• A genesis airdrop to the founding community: the waitlist and the earliest players, weighted by real activity, not farmed volume.
• An ongoing player-rewards pool: rakeback and bonuses that pay you back the more you play. Rewards unlock as you wager, so supply is earned over time rather than dumped at once, and the volume that unlocks it is the same volume that feeds the buyback.

Eligibility is based on genuine participation. The snapshot, the weighting, and the claim mechanics are published ahead of the airdrop, and built to reward real players over sybil farms.

The casino is built. The raise capitalises and scales it, and the allocation leads with house capital, because a casino is only as fast as its float and instant payouts are the whole point.

What the raise funds. The bankroll, ongoing development and original in-house games, the sportsbook, the licences, and launch marketing all come from the ICO, not from the buyback, so the house is fully capitalised before it opens to the public.

From there, the 97% is taken from net revenue: gross gaming revenue after the game-provider fees and the 10% bankroll reserve. The rest of running the business, marketing, promotions, player rewards, and overhead, is funded from the token allocations and the raise, not from gaming revenue, so almost all of what remains reaches the buyback. Every other casino routes a thin slice; Degens routes 97% of it, holding 3% as an operating buffer.

Ongoing growth is funded by the treasury allocation, the house bankroll (topped up by that 10% of gross gaming revenue, so it scales with play and can take bigger bets), and the community itself: because the buyback ties $DGN to the platform, holders are incentivised to bring players, which replaces the paid-influencer machine every other casino depends on. Reinvestment beyond the raise is deliberately limited, so net revenue routes back through the buyback rather than into endless growth spend.

Taking part is the same for everyone. No private round, no allocation to chase, no insider list, and no better price for getting there first.

That is the whole path: join, commit, confirm, and receive your $DGN at the TGE. Same price and same terms for everyone; the reward for being early is the founding Genesis NFT, not a better deal on the token.

The platform is a full crypto casino: slots, dice, crash, roulette, blackjack, plinko, mines, and limbo, plus a custom sportsbook, with the game studios players actually use, provably-fair mechanics, and instant payouts.

Provably fair means you can mathematically check, after every bet, that the result was decided in advance and not changed once you played. Before each bet the server commits to the result with a hashed seed, then combines it with a seed you control, so once the round resolves you can run the math yourself and confirm the outcome was set before you played and never touched after. You don't trust the house. You verify it.

It operates under a gaming licence held by High Score Limited, issued by the Government of the Autonomous Island of Anjouan, Union of Comoros (Licence No. ALSI-042603120-FI2). Deposits are supported in ETH, BTC, SOL, USDT, USDC, BNB, AVAX, and MATIC across supported networks.

The casino is already built. It opens to the public around the ICO, with the waitlist getting access first. The chain $DGN issues on is finalised ahead of the Token Generation Event.

The Genesis NFT is the founding badge of the Degens Owners Club. It is not for separate sale: it goes to the founding members, the first to get in and back the platform early.

Each Genesis NFT carries a vested $DGN allocation and lifetime VIP status on the platform. Allocation is tied to early participation and finalised at the Token Generation Event; eligibility does not guarantee allocation, and terms may be amended prior to mint.

The ICO date is announced once the founding 10,000 waitlist is full. The faster it fills, the sooner the sale opens, so it pays to bring people in. Tokens are then distributed to participants' designated wallets at the Token Generation Event.

"Own the house" describes economic alignment: 97% of the casino's net revenue is used to buy back and burn the token you hold. Your exposure is to that buyback.

It is not legal equity. Holding $DGN confers no ownership interest in the Operator, no dividend, no profit-sharing, no voting, and no governance rights. The token is a utility token. Anyone telling you otherwise is wrong, and the terms govern.

Participation involves substantial risk of loss. Only participate with funds you can afford to lose entirely. In summary:

• Token value may decline to zero.
• No guarantee of exchange listings, secondary-market liquidity, or market-making support.
• Regulatory changes in any jurisdiction may affect the utility, transferability, or value of $DGN.
• Smart-contract vulnerabilities, hacks, or technical failures may cause loss of tokens or funds.
• The platform may fail to reach commercial success, adoption, or revenue targets.
• The buyback depends on net revenue: zero net revenue means zero buyback.
• The weekly buyback is public and predictable, so traders may buy ahead of it, raising the price it pays and reducing the $DGN burned per dollar.
• The house bankroll and platform funds sit with a centralized licensed operator; operator insolvency, mismanagement, loss of licence, or compromise could halt the buyback and put funds at risk.
• Past performance of comparable tokens (e.g. Hyperliquid, Shuffle, Rollbit) is not indicative.
• Crypto markets are volatile; you may be unable to sell or transfer tokens for an extended period; tax treatment varies by jurisdiction.

The full risk disclosure governs and is set out in the presale terms.

The Sale is operated by High Score Limited (registration no. 15613, Union of Comoros), holder of gaming licence ALSI-042603120-FI2 (Anjouan). The Sale does not require KYC or identity verification; eligibility is confirmed by self-attestation. The Operator reserves the right to request verification only where a specific law or binding legal order requires it.

$DGN is a utility token and not a security; the Sale has not been registered with or reviewed by the SEC, FCA, ASIC, or any securities regulator. The Sale is not available to US persons, sanctioned persons, or residents of restricted jurisdictions, and VPN circumvention is prohibited. These terms are governed by the laws of the Union of Comoros, with disputes resolved by binding arbitration in Moroni.

This whitepaper is a summary for clarity. The presale terms are the binding document and control in any conflict.

Degens is led by a public founder with a track record at the centre of the rooms that move the most casino volume in crypto, alongside a team of six. It is funded by the community, not by venture capital.

This whitepaper is for information only. It is not investment, financial, trading, legal, or tax advice, and nothing in it is a recommendation to buy, sell, or hold anything. It is not a prospectus or a financial-product offering document, and it is not an offer to sell, or a solicitation of an offer to buy, $DGN. Do not rely on it as a substitute for advice from a qualified professional.

$DGN is a functional utility token for use within the Degens ecosystem. It is not a share, bond, note, unit in a collective investment scheme, security, or any comparable instrument, and holding it confers no equity, ownership, dividend, profit-share, governance, or voting right of any kind.

This document contains forward-looking and projected statements that are not guaranteed and may change; actual outcomes may differ materially. No representation or warranty is made as to the completeness, reliability, or accuracy of anything here, it may contain errors, and it may change without notice. The presale terms are the binding document and govern in any conflict.

$DGN is not available to US persons, to residents of sanctioned or restricted jurisdictions, or anywhere its offer or sale would be unlawful. VPN circumvention is prohibited.