FUNToken at present introduced that they’ve created a brand new token, XFUN, to additional improve 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 by means of a course of whereby FUN tokens are escrowed from Ethereum Fundamental-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 by means of the XFUN Pockets.
FUNToken will launch a non-custodial pockets for XFUN that can incorporate a lot of 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 social gathering processors
- Gasoline-free transactions on XFUN the place accessible
- 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 economic system, FUNTokens simply match,” mentioned Shreyansh Singh, Head of Polygon Studios. “We’re excited concerning the prospects of this partnership.”
XFUN will substitute FUN because the token behind dPlay On line casino and can be launched to a lot of new playing ventures over the following six months together with a brand new XFUN On line casino, a completely on-chain poker site and a sportsbook, all scheduled to launch by the top of the 12 months.
All FUN tokens in use within the premium membership program on Freebitco.in (FBC) that are at present 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 price noting that FUN at present 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.