Earn easy rewards when staking EDG Tokens
Edgeless casino distributed 40% of bankroll’s surplus
What’s the purpose of Edgeless staking?
Edgeless is a growing casino network which uses the ethereum blockchain. The EDG cryptocurrency token functions as a casino chip. Players can play on Edgeless only with EDG token.
To make sure the bankroll is always increasing, the casino needs a mechanism which enables the community to support the growth of the bankroll. There is a limited amount of EDG tokens, a total of 132,046,997. It’s impossible to create new tokens or delete existing ones .
With larger bankroll, the casino can serve more players and offer larger betting limits. Without such a mechanism, Edgeless would not be able to serve players. Edgeless community members can stake EDG tokens, forming a decentralized casino bankroll. The casino network distributed 40% of the bankroll surplus in exchange for bankroll support.
Your potential reward calculator
Slider example
The slider example is based on the following numbers: 100 participants. 50,000 EDG tokens staked by each participant. Total staked pool is 5,000,000 EDG tokens. Bankroll surplus is 1,250,000 EDG tokens.
How the reward is calculated?
During every cycle, stakers form a decentralised bankroll. The casino uses the bankroll as a bet against a player’s bet in games such as slots, roulette blackjack. If the casino wins, the bankroll has a surplus. If the casino loses, bankroll is in deficit.
There is volatile element involved in the casino’s bankroll.
The casino doesn’t win every day, this is especially so in Edgeless’ case as it offers 0% house edge skill-based games. Therefore, when staking, participants take a risk. Reward is not guaranteed. In a case of a bankroll deficit, stakers take a loss.
Casino bankroll surplus is distributed in 2 parts:
60% goes to Edgeless casino
40% goes to staking participants
Detailed example of staking reward calculation
1
143 people join bankroll staking. Each participant stakes 30,000 EDG tokens.
2
A decentralised bankroll is formed with 4,290,000 EDG tokens ( 143 x 30,000 )
3
The casino uses 4,290,000 EDG tokens to bet/service players.
4
After the cycle, the casino has a bankroll surplus of 4,990,000 EDG tokens.
5
The exact surplus is 700,000 EDG tokens. 40% of 700,000 is 280,000 EDG tokens. 280,000 EDG tokens are allocated to reward pools.
6
The staking reward is distributed among 143 participants proportionally based on their staked EDG tokens and contribution.
Proportion calculation:
1
Staker Adam now owns 0.007% ( 30,000 / 4,290,000) of a decentralised bankroll which is 4,290,000.
2
Adam will get a reward which is 0.007% of the staking reward pool.
3
He will get 0.007% x 280,000 based on his staking status.
Get EDG tokens
1. Registering for staking account
The easiest way to get EDG tokens is by simply registering a staking account and clicking the “Deposit” button. The deposit window is integrated with Changelly converted. Converted can convert almost any cryptocurrency into EDG tokens: BTC, ETH, LTC and many more.
2. On popular exchanges
You can also get EDG tokens on popular exchanges such as Bittrex, Upbit, and HitBTC.
Start staking in few minutes
Register
& Deposit
Participate in
staking round
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or stake again
Staking conditions & timeline
Staking limits per participant: 1 - 50,000 EDG tokens
Each staking round lasts for 5 days
Staking period starts: Wednesday, 7 AM UTC
Staking period ends: Monday 7 AM UTC
Community - an important part of the team
A united community is one of Edgeless' main strengths. People from South Korea, Italy, Russia, Spain, Germany, Australia, and Canada are a part of the Edgeless journey.
Why Edgeless
Multiple ways to win
You have the opportunity to win 100,000 EDG tokens when you deposit, play games or refer friends. Winning has never been easier.
Transparency
An incoming player’s deposits and withdrawals can be checked at any time, this increases Edgeless’ transparency beyond any other casino’s.
First legal blockchain casino
Working hand in hand with legal authorities and being fully regulated is necessary for the growth of a business, especially in the areas of gambling and cryptocurrency.
Start staking today.
EDG bankroll staking is a new feature available to EDG token holders, who can participate in Edgeless bankroll funding by staking their EDG tokens.
Frequenttly Asked Questions
What if the bankroll decreases in a staking period? Do stakers get back less than they staked?
Here is an example of what happens in a case when bankroll surplus is negative:
143 people join bankroll staking. Each participant stakes 30,000 EDG tokens.
A decentralized bankroll is formed with 4,290,000 EDG tokens ( 143 x 30,000 ).
The casino uses 4,290,000 EDG tokens to bet/service players.
After the round, the casino has 4,000,000 EDG tokens in a bankroll. Loss is 290,000 EDG tokens.
1 participant staked 30,000 EDG which is 0.007% ( 30,000 / 4,290,000) of a decentralized bankroll.
Remaining bankroll is 4,000,000. 0.007% from remaining bankroll is 28,000 EDG tokens.
After the cycle, staker can withdraw 28,000 EDG tokens. Staker experienced a loss of 2000 EDG tokens ( 30,000 - 28,000 ).
In the example mentioned above, the smart contract system automatically distributed tokens to stakers proportionally to the decreased Bankroll amount.
Who can stake?
Everyone except US and UK citizens can participate in Edgeless staking. Due to uncertainty in the US and UK in regard to the regulation of tokens, for now, this feature is not available to US and UK citizens.
What is the legal status of an EDG token?
It’s a utility token. A token is used by players to avail of Edgeless’ services. The secondary use of a token is bankroll staking. Due to the limited nature of the token, the community can use tokens to sustain bankroll growth.
Why does a decentralized casino need staking and how will it work?
There is a limited amount of Edgeless tokens (a total of 132,046,997). It is not possible to create new tokens or delete existing ones. In the near future, Edgeless’ players base and betting limits will increase, calling for a larger total bankroll to sustain the growth of the entire system. To make sure the bankroll is always sufficient, Edgeless needs a mechanism which enables the community to support the growth of the bankroll.
The bankroll staking feature is based on blockchain smart-contract technology. Smart-contracts allow for effective ways to organize Edgeless’ bankroll crowdfunding, which was never possible before.
Why stakers are required to complete the KYC procedure?
Edgeless builds the whole staking mechanism which is legally compliant to local regulators. Since staking feature is not available in US and UK, Edgeless needs to differentiate every staking participant and identify their country of origin.
How I will know my tokens are protected in this staking platform?
From IT side, major system parts such as staking are having constant external audits to make sure maximum security possible. Secondly system runs on a blockchain which tracks every staked token, total staked tokens and much more.
What is the min/max amount I can stake?
Min stake deposit per user: 1,000 EDG. Max stake deposit per user: 50,000 EDG
Can I trust Edgeless and be assured that the bankroll surplus is real? Is that even possible without a credible third-party audit?
By utilizing blockchain smart-contract technology Edgeless eliminates the need for a third-party audit. Edgeless aims to make the entire system so transparent that every transaction can be recorded in a blockchain.
However, blockchains are still an experimental technology which has a lot of technical limitations, especially relating to scalability. In 2019 Edgeless still, doesn’t have all operations on a blockchain.
- Bankroll size (verify on a blockchain)
- Bankroll growth (verify on a blockchain)
- Deposits/withdrawals by players (verify on a blockchain)
The best part is that token holders can be sure that these numbers are real and no 3rd party auditing has to be involved. It’s such an efficient system!
Do stakers need to stake tokens after every cycle? Is there an automatic way to stake tokens?
At this moment there is no feature to stake EDG tokens automatically. After every round, staking participant need to login to the platform and stake tokens manually. If staker did not stake tokens manually in a time-window between staking rounds, stakers tokens remain unstaked.