The xMOOV & Rollovers. Introduction to the economics of dotmoovs [Part 4]
MOOV & xMOOV
Some time ago, even before the app was made public (Beta Version), dotmoovs started using a different naming for its token. Due to some technical, legal and financial constraints, it didn’t make sense to use the same name for the trading token inside the app and the digital asset traded in different exchanges around the world.
xMOOV is our in-app token that is exactly equivalent to $MOOV coin. In order to avoid on-chain transactions (which are costly) and for legal purposes, xMOOVs are in-app and off-chain credits worth the same as $MOOV . This way, you can trade, earn and spend xMOOV without the burden of paying expensive gas fees each time a transaction occurs in-app. However, you can easily connect your wallet to the app and transfer the money from the app to your wallet or vice versa.
Rollovers & Withdrawals
You’ve earned some bonuses and now you’re eager to learn how to cash-in those $xMOOVs? Then, you came to the right place. First, let’s understand the meaning of a rollover:
A rollover is the $xMOOV amount you need to use in-app before a bonus becomes eligible for withdrawal. Rollovers are often bonus offers for making your first deposit or to allow you to use the app free of charge, with the stipulation being that you have to use a certain amount to receive the bonus.
At dotmoovs, when you win a bonus or are given a promocode that gives you access to a certain amount of free $xMOOVs, you always need to win at least x5 that amount before being able to withdraw it. Let’s give a practical example:
You’ve just joined the app with the promocode “MOOVFTW” [not a real promocode btw] which gave you 50$xMOOV to start playing. That bonus is yours to use in as many challenges as you want. Once you’ve invested 500$xMOOV you’ll be able to withdraw your bonus. You can achieve that in roughly 4 games if you go all-in!
Even if you lose some games, you can deposit more $xMOOVs to play and once you’ve won the amount needed you’ll be able to collect your bonus!