FunFair (FUN)Nov 16, 2018 at 2:30
FunFair is a blockchain-based gaming platform designed to deliver low-cost, high-quality, fun casino experiences that are provably fair. It uses Ethereum blockchain and protocol to create and run casinos that are fair and that can reach players across the world more easily than any other platform.
FUN is the official token that powers the entire FunFair platform. It is an Ethereum-based ERC-20 standard cryptocurrency used as betting chips, for rewards payouts, and as a utility token for fueling key functions within the platform. Released in June 2017 at an initial price of $0.011, it reached its all-time high of $0.186 in January of this year before settling back down closer to the initial price. At the time of writing, it is valued at $0.012, almost the same as its initial value at the time of release.
The FunFair protocol is made up of three technology layers:
The Ethereum layer, which serves as the base layer and offers both blockchain and smart contract technology. Blockchain offers immutability while smart contracts contain the mechanics of each casino game, the combination of which makes the games provably fair for both players and operators. It also makes the development of casino games easier and more scalable.
Fate Channels, which enable off-chain execution of smart contracts, reducing delays and costs while ensuring the delivery of provably fair, random number generation and cheatproof gaming. The feature also allows for automatic dispute resolution.
The FUN token itself, which allows high performance trustless gaming. The token is used for all transactions done within the FunFair platform, including player wagers, casino licence fees, developer rewards and the revenue affiliates receive for referring players.
FunFair also has its own universal verification tool, FunPass, which quickly verifies player age, ID and other information, enabling registration, Ethereum wallet tagging and access to all casino features at a fraction of time it would take with a third-party verification system.
Another thing that sets FunFair apart from other platforms is they allow licensed casino operators to set up games easily at a fraction of the time compared to other iGaming platforms. They also allow operators without existing licenses to operate within the platform as a white label, giving them affiliate earnings in the process.
FUN is a deflationary cryptocurrency; that is, it will only have a fixed amount created during the token event, and no more will be created afterwards. This one-time capped creation is expected to increase the FUN token’s value in the long run; however, as mentioned earlier, today its value remains close to its original selling value when it was first released.
While FUN can be brought into the platform by players who bought tokens during the Token Event and players who exchanged tokens from ETH in various third-party trading platforms, future plans include enabling players to buy FUN tokens directly within the FunFair platform using fiat currency.
Where to buy?
FUN is traded in Bitfinex, Binance, AirSwap, gate.io, HitBTC, NovaExchange and EtherDelta.
Is it mineable?
FUN has a fixed total supply of 11,000,000,000 tokens with a current circulating supply of 5,365,813,789 tokens.