Edgeless casino distributed 40% of bankroll’s surplus
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.
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.
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.
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.
143 people join bankroll staking. Each participant stakes 30,000 EDG tokens.
A decentralised 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 cycle, the casino has a bankroll surplus of 4,990,000 EDG tokens.
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.
The staking reward is distributed among 143 participants proportionally based on their staked EDG tokens and contribution.
Staker Adam now owns 0.007% ( 30,000 / 4,290,000) of a decentralised bankroll which is 4,290,000.
Adam will get a reward which is 0.007% of the staking reward pool.
He will get 0.007% x 280,000 based on his staking status.
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.
You can also get EDG tokens on popular exchanges such as Bittrex, Upbit, and HitBTC.
Staking limits per participant: 1 - 50,000 EDG tokens
Each staking round lasts for 12 days
Staking period starts: Wednesday, 7 AM UTC
Staking period ends: Monday 7 AM UTC
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.
You have the opportunity to win 100,000 EDG tokens when you deposit, play games or refer friends. Winning has never been easier.
An incoming player’s deposits and withdrawals can be checked at any time, this increases Edgeless’ transparency beyond any other casino’s.
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.