What is FunFair?
FunFair is a decentralized, peer to peer online casino built on the Ethereum blockchain. It makes heavy use of Ethereum’s Smart Contracts functionalities to perform functions of the casino. FunFair uses a system native ERC20 token called FUN.
History of FunFair
FunFair is the brainchild of Jez San, OBE and Jeremy Longley. FUN was created on June 22nd, 2017 and was immediately sold to users of the casino. Half of the total FUN population of 1 billion (hard cap) was distributed during the first phase at a rate of 100 FUN per USD. The second phase of coin sales will be via Dutch auction with unsold coins being distributed to the buyers of the first coin sale on a pro-rata basis.
How FunFair Works
FunFaur employs the use of its native token, FUN, as the currency of the network and for every casino-related transaction. Casino users create an account on the casino and then load it with FUN tokens. These tokens can then be used to bet at the FunFair casino and other casinos participating in the FunFair network. Once the user wins FUN from gaming on the network, they can instantly convert it to their preferred currency of choice.
To be registered with the FunFair casino network, casino owners pay their fees in denominations of the FUN token as well. In addition, development of the network, which is ongoing, also get paid in FUN. Developers can build their games and casinos using HTML5 and upload them on the network for players to be able to participate in them.
- Fast Betting: Due to their patented technology, FunFair allows a superfast gaming experience for their gamers. In traditional blockchain casinos, wait time for bet placement can be as long as 2 minutes. In FunFair, it takes seconds to place bets and the user to know the outcome, and then to collect their winnings.
- Cheap Betting: Traditional decentralized casinos can ask for as much as $1 for placing each bet due to the high transaction fees. With FunFair, the transaction charges are as low as 5-10 cents per bet placed.
- Easy Casino Creation: For the developers, it is very easy to develop the games (casinos) using the FunFair platform and it is even easier to publish them. Casinos are built using the popular HTML5 language and WebGL is used for graphics.
- Fully Decentralized: FunFair’s casino network has no designated servers to run on as it is fully decentralized (peer-to-peer) and thus, its casinos are safe, as well as FUN transactions. Each transaction is noted on the Ethereum blockchain and thus casinos can’t be attacked as there are no central servers to hack.
- Referral program: Each FunFair user who introduces another user to the FunFair network gets a referral bonus.
- Affiliate program: FunFair also gives the freedom to the casino owners to pay out affiliates who bring users into their casino.