How Blockchain Guarantees Transparency For Players
Technically protected by blockchain, Fairspin can deliver its main goal — being transparent and risk-free for players.
From the very beginning, Fairspin had a single most important business goal, to become the first truly and fully transparent gaming project. To do so, it was decided to bring a third-party blockchain solution and thus avoid any risk of speculation or mistrust from the gaming community.
To make it happen, Fairspin signed an exclusive partnership agreement with the Trueplay blockchain platform, a ready-to-use solution that could be easily integrated into any online service with a set of tools needed for transparency.
Trueplay blockchain solution
- Truesign module
First of all, Trueplay installed its proxy called the Truesign module at Fairspin platform. Technically, it’s a very simple yet safe solution to see all that happens within Fairspin with no access to the data whatsoever. Truesign can see, store and publish to the blockchain network everything that happens in games (deposits, bet amount, bet result, bonuses, cashback, etc.). This way, it is possible to see the current income of the platform or check the daily/weekly/monthly/yearly numbers.
Truesign module aims to handle up to 99.99% of requests between operators and game providers. To date, the successful processing rate has already reached 95%, and the Trueplay team is working hard to improve integrations to maximize this rate.
The very point of the Truesign module is to be able to view and keep track of every event at Fairspin with no technical possibility to change, delete, or add any piece of information. It makes data transparent and unbiased, which is the whole point of Fairspin as a blockchain-based gaming platform.
- Ethereum network
Ethereum network is the best option to choose for both smart contract’s business logic and tokens. Ethereum has been on the market already for years, supported by many nodes, truly decentralized and secure. When we use the Ethereum network, it is obvious that we do not have control over the network and cannot make any changes to the data or token circulation. And that is, again, the whole point of transparency for Fairspin.
Tokenized Loyalty Program For Players
With Trueplay integration, we can know for sure the exact Fairspin income at any moment in time. As with any gaming platform, Fairspin shares its income with players through the loyalty program. Fairspin shares its revenue with users depending on their activities in either the Play To Earn or Hold To Earn programs.
Fairspin converted its loyalty program to tokens with its own ERC20 token, called TFS (Token for Fairspin).
- TFS token is issued by Trueplay, specifically and exclusively for Fairspin.
- Until TFS is listed on exchanges, its rate is fixed and stable (at the moment, its value is $0,004 per one token).
- Once TFS is listed, its rate will be deflationary.
TFS: Play To Earn Program
Fairspin players receive cashback in TFS tokens and they receive it instantly after the bet is made, with no waiting period.
Users get from 0.04% to 0.4% back in TFS tokens off all the bets made.
All tokens gained for playing games will be credited right to the TFS wallet of users, located at the TFS widget available on Fairspin. Thanks to blockchain integration we can track every bet amount and cashback amount.
TFS: Hold To Earn Program
The holding program is based on Fairspin income shared with its players. Considering the project’s financial history over the last 3 years, they have calculated the average revenue rate and decided to share a part of it with users who hold TFS tokens.
In this program, users hold their tokens for a certain amount of time and can get rewards in return by multiplying their tokens.
This reward is based on several factors:
- Fairspin income by the end of the user’s holding period
- Amount of tokens (the more you hold, the bigger your share)
- Number of holders who share the pool of reward
- Every holding period has a different percentage of Fairpsin’s income shared: 0.5% of the income pool shared in 30-minutes hold, 1.5% for 8-hours hold, 4% for 1-day hold.
This is only the very beginning of blockchain integration for Fairspin and its TFS token. Later on, we will share more educational materials about TFS, tokenized loyalty program, and how blockchain truly brings transparency to the iGaming market.
Until November 8, 2021 any player or token fan can participate in the Public TFS token sale.
Read more about Hold To Earn program here.
Explore more TFS Tokenomics here.
For any questions, join our Telegram group.