FUNToken immediately introduced that they’ve created a brand new token, XFUN, to additional enhance the velocity and transparency in iGaming whereas considerably lowering the price of transactions.

XFUN is a brand new layer two token on Polygon, benefitting from the considerably elevated efficiency and decrease latency on this blockchain system.  XFUN is minted via a course of whereby FUN tokens are escrowed from Ethereum Most important-net on a 1:1 foundation and faraway from buying and selling circulation.  The method is reversible, with fuel charges for motion again to main-net charged to the token-holder. XFUN won’t be listed on exchanges and accessible solely via the XFUN Pockets.

FUNToken will launch a non-custodial pockets for XFUN that may incorporate a variety of key options:

  • Capacity to carry each FUN and XFUN tokens
  • Integration with each Ethereum main-net and Polygon
  • XFUN Bridge which lets wallets swap FUN for XFUN and vice versa
  • Built-in FIAT to FUN/XFUN alternatives utilizing third celebration processors
  • Fuel-free transactions on XFUN the place accessible
  • Built-in KYC the place required by operators

“We’re actually excited to announce the approaching launch of XFUN,” Adriaan Brink, Funtoken CEO, mentioned. “This new layer two token will change the dynamics of FUN and produce us to the following stage in our journey.”

“In our efforts to successfully unify a decentralised gaming and NFT economic system, FUNTokens simply match,” mentioned Shreyansh Singh, Head of Polygon Studios. “We’re excited in regards to the prospects of this partnership.”

XFUN will substitute FUN because the token behind dPlay Casino and can be launched to a variety of new playing ventures over the following six months together with a brand new XFUN On line casino, a totally on-chain poker site and a sportsbook, all scheduled to launch by the tip of the 12 months.

All FUN tokens in use within the premium membership program on Freebitco.in (FBC) that are at the moment held in custodial wallets can be moved to XFUN wallets on launch.  It will carry over 170,000 premium members holding over 430M FUN to XFUN.  By comparability, it’s value noting that FUN at the moment has round 86,000 token holders. It’s probably that throughout the first month of XFUN greater than 10% of the FUN Token circulating provide can be escrowed into XFUN.

 



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