What is FUNToken?

FUNToken (FUN) is a digital asset designed specifically for the online gaming and gambling industry. It leverages the capabilities of the Ethereum blockchain and advanced technology to create a resource that benefits players, platforms, and developers. FUNToken is an ERC20 token on Ethereum with a Layer 2 token XFUN on Polygon, which aims to enhance transaction speed and ease. The token is decentralized and transparent, with all transactions publicly recorded and trackable. FUNToken ownership is completely anonymous, and the token is designed to maximize playing time with rapid wallet-to-wallet and in-game transactions.

How does FUNToken work?

FUNToken operates on the Ethereum blockchain, using a proof-of-stake (PoS) consensus method. This method distributes mining capabilities based on the number of tokens already held, aiming to make it a scalable and flexible system. FUNToken has also launched the XFUN token on Polygon, which is more efficient and less costly than Ethereum. This token can only be obtained through a 1:1 bridge mechanism with FUN, which reduces the trading supply and potentially increases demand. The XFUN Wallet, available on Google Play and Apple App stores, provides a non-custodial way to hold and switch between XFUN and FUN tokens. Transactions on XFUN are gas-free, enabling fast and frictionless operation.

What are the potential use cases for FUNToken?

FUNToken strives to streamline the online gaming and gambling industry by reducing friction between operators and players and returning control of players' funds to the players themselves. It provides a scalable and robust mechanism for accessing decentralized applications. The token's ecosystem encourages other gaming operators to leverage its benefits, thereby increasing token usage. Furthermore, the introduction of the XFUN token on Polygon offers a more efficient and cost-effective alternative to Ethereum, potentially expanding the use cases for FUNToken. A strategic quarterly burn of 50% of any profits is implemented with the intention of maintaining the token's value over time.

What is the history of FUNToken?

FUNToken was created with a maximum supply of 17 billion tokens during an official pre-sale on June 22, 2017. Over 80% of all tokens were distributed to industrial investors and purchasers during this event. While a second pre-sale was initially planned, it was later cancelled, and more than half of the reserved tokens were burned as surplus. The remaining tokens were transferred to new owners in 2021. The supply of FUNToken is now fixed, with no further issuances. The trading supply is further reduced 1:1 with all XFUN tokens issued on Polygon, meaning as the usage of XFUN increases, the FUN trading supply will decrease.