PRESENTATION
Fairgrounds is a decentralized ecosystem of provably fair chance based games built on the Ethereum blockchain. The site will offer a variety of games that give players an opportunity to bet and win Ether (ETH).
Fairgrounds is a decentralized ecosystem of provably fair chance based games built on the Ethereum blockchain. The site will offer a variety of games that give players an opportunity to bet and win Ether (ETH). Players are rewarded for participating via the Fairgrounds Rewards Token (FGR), which in turn provides incentive to continue playing on the system. Players have an opportunity to refer their friends, providing both the referrer and the one referred with bonus FGR tokens. Finally, the system will offer profit sharing via the Fairgrounds Token (FGD).
Why you should support this project
Team Fairgrounds, absolutely all of its employees are working for the benefit of the company and are always ready to help in any matter. They are always in touch and do not lose sight of. Indeed, at the current moment, when we are talking about ICO projects, this fact is very important.
All prototypes made by the team of developers of Fairgrounds are in the public domain, now you can get acquainted and try this system.
Fairgrounds participates in every possible crypto, blocking forums, conclude serious contracts.
GAMES
The Fairgrounds website will provide a variety of different chance-based games to bet and win Ether (ETH). The site will require a browser or browser extension that is capable of interacting with the blockchain. At the time of this writing Metamask for the Chrome browser and the Mist browser work well. At launch the only game available will be Raffle.
However, there will be multiple raffles to not only allow greater participation from players, but also to demonstrate the incentive reward system. Other games will launch shortly after the token sale.
CONVENTIONAL RAFFLE
Players buy tickets with Ether (ETH) for a chance to win a jackpot. A single winner is chosen at random in a provably fair manner. All participants are awarded Fairgrounds Reward Tokens (FGR) as reward for their participation. The FGR tokens can then be used in multiple ways to win back or buy back ETH.
The mechanics of the conventional raffle are described as follows:
A conventional raffle has a fixed ticket price in ETH for each entry.
Multiple raffles can exist at differing price points to allow for the widest adoption.
Players can purchase 1 or more tickets to enter the raffle with each additional ticket purchased offers a greater chance of winning the jackpot.
FGR tokens are rewarded at a 100:1 ETH ratio based on their bet size.
A conventional raffle has a target number of tickets to be sold. [Min: 20]
Once all tickets are sold for a single raffle, a winner is chosen at random.
10% of all funds in ETH for the raffle are transferred to a progressive raffle.
The remaining 90% of the funds in ETH (after fees) are awarded to the winner
PROGRESSIVE RAFFLE
The mechanics of the progressive raffle are similar to the conventional raffles but with a
few major differences (in bold):
A progressive raffle has a fixed ticket price in FGR for each entry. Eg. 10 FGR per
entry ticket.
Players can purchase 1 or more tickets to enter the raffle with each additional ticket
purchased offers a greater chance of winning the jackpot.
A progressive raffle has a window of time where tickets can be sold.
Once an entry occurs beyond the window of time, a ticket is drawn.
If a purchased ticket is chosen:
80% of the progressive jackpot in ETH is paid to the chosen winner.
20% of the progressive jackpot in ETH is transferred to the house (stored in
the profit sharing smart contract)
100% of FGR tokens collected via ticket sales for the progressive raffle are redistributed back to conventional raffles as rewards for future players.
Token Sale Details
Total Supply : 100 Million Tokens
Token Sale : 50%
1 ETH = 10000 FGD*
2 months
The exchange rate wil decrease on a weekly basis by 1000 FGD. E.g. Week 1 = 1:10000, Week 2 = 1:9000, Week 3 = 1:8000 etc. Any unsold tokens at the end of the token sale will be burned, reducing the total supply of tokens.
25% Rewards
In order to encourage players on the platform, Fairgrounds Tokens (FGD) will be distributed in addition to the normal Fairgrounds Rewards Token (FGR). 25 million FGR tokens will be available as bonus rewards.
25% Cold storage
To support operational expenses and fund future development, these tokens will be kept in cold storage will belong to the Fairgrounds team.
USE OF FUNDS
40% BANKROLL
With an appropriate bankroll, it will be possible to some types of chance-based games (E.g. a jackpot lottery) that would otherwise be impossible to add.
Expanding on the types of games will bring a broader audience and greater value to the ecosystem.
35% DEVELOPMENT
These funds will cover the development costs of additional chance-based games as defined in the roadmap.
15% OPERATIONS
These funds will be used to cover expenses associated with infrastructure, support, accounting, business development, and other administrative overhead.
10% USER GROWTH AND MARKETING
Fairgrounds will use these funds to cover expenses associated with marketing and promotion of the entire Fairgrounds ecosystem.
RoadMap
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
Website: https://fairgrounds.bet/Discord: https://discord.gg/FwBskwY
Whitepaper: https://fairgrounds.bet/files/fairgrounds_whitepaper_0.9.5.pdf
TokenSale: https://fairgrounds.bet/#/tokensale
Twitter: http://twitter.com/FairgroundsDapp
Discord: https://discord.gg/FwBskwY
Bounty: https://bitcointalk.org/index.php?topic=2946297.0
Author: TheMichaelMatch
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1326035
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.
