FUNToken right this moment introduced that they’ve created a brand new token, XFUN, to additional improve the pace and transparency in iGaming whereas considerably reducing 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 by way of a course of whereby FUN tokens are escrowed from Ethereum Predominant-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 is not going to be listed on exchanges and obtainable solely by way of the XFUN Pockets.
FUNToken will launch a non-custodial pockets for XFUN that can incorporate various key options:
- Skill 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 get together processors
- Gasoline-free transactions on XFUN the place obtainable
- Built-in KYC the place required by operators
“We’re really excited to announce the upcoming 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 degree in our journey.”
“In our efforts to successfully unify a decentralised gaming and NFT financial system, FUNTokens simply match,” mentioned Shreyansh Singh, Head of Polygon Studios. “We’re excited concerning the prospects of this partnership.”
XFUN will change FUN because the token behind dPlay On line casino and can be launched to various 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 top of the yr.
All FUN tokens in use within the premium membership program on Freebitco.in (FBC) that are presently held in custodial wallets can be moved to XFUN wallets on launch. It will deliver over 170,000 premium members holding over 430M FUN to XFUN. By comparability, it’s value noting that FUN presently has round 86,000 token holders. It’s doubtless that throughout the first month of XFUN greater than 10% of the FUN Token circulating provide can be escrowed into XFUN.