In recent years, many games based on blockchain networks and DApps have been designed keeping in mind RPG and casino-style features. These blockchain-based games and DApps have been introduced so the players can use their cryptocurrencies for gambling purposes.
FunFair is a white-label, which is a casino based on the turnkey blockchain network. The platform has been designed and developed to provide users with one of the most convenient gaming environments. The platform does not require the players to pay any signup fees for joining the platform. It neither demands the players to pay or subscribe to any minimum monthly fees.
The name of the token that is used to acquire any kind of service on the FunFair platform is its native asset known as the FUN token. The players also need the FUN tokens to place bets while gambling and they are also paid using in FUN token for the wins.
The reason for coming up with the FUN token mechanism is to compensate the designers and developers for their efforts. These operators then use these tokens to pay for the services and fees that are acquired through the games.
According to sources, these tokens have managed to gain a lot of rallying towards their value and demand. As for now, the FUN tokens have gained 183% growth that comes through different factors. Some of the major factors that were behind the rallying of FUN tokens include on-chain transfer volume, growth in users, and the amount wagered on the platform.
It must be made clear for your convenience that FunFair itself does not exist as a casino. The FunFair platform only has the testnet versions of the casinos on its website. The FunFair platform provides users with links to two different casinos and they are both powered by the FunFair platform’s technology.
It was back in June of 2017 when the ICO for the FUN tokens was held, raising $26 million that now comprise 21.3% of the FUN tokens. It was later revealed that the founders and advisors got to keep 14.4% of FUN tokens. On the other hand, 64.3% of the FUN tokens were retained by the FunFair Foundation.
It has been confirmed that since the ICO, more than 6 billion FUN tokens have been burned by the FunFair foundation. After the burning of 6 billion FUN tokens, the total rotating supply of FUN tokens is down to 11 billion.
The platform has confirmed that it does whatever it can to ensure that there is complete transparency on the platform. It is constantly making improvements and developments to protocols to ensure that neither the casino nor the players get to cheat.