Fairgrounds are a decentralized ecosystem of the one actually built in the Ethereum blockchain. On this site you will be offered many games that will give you an opportunity to bet and win Ethereum (ETH). Players are given to find in Fairgrounds Rewards Token (FGR), which, at times, provide incentives for processes within the system.
Each player has an event to invite their friends with an excellent system offer, and with reference to the FGR token reference. Also the system will offer help through token fairgrounds (FGD).
And at this moment on the Fairgrounds site has a chance to play the Raffle game. However, there will be plenty of lotteries to not only increase player participation, but also to demonstrate incentive reward systems. Soon, another game will start after the token sale.
Why is it worth supporting 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.
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
Raffle progressive
The progressive sweep mechanism is similar to conventional raffles but with some major differences (in bold):
A progressive sweepstakes has a fixed fare price in FGR for each entry. For example. 10 FGR per
entrance ticket.
Players can buy 1 or more tickets to enter the raffle with each additional ticket purchased offering a greater chance of winning the jackpot.
The progressive grid has a window of time for which tickets can be sold.
After the entry takes place outside the time window, the ticket is withdrawn.
If the purchased ticket is selected:
80% of the progressive jackpots in ETH are paid to the selected winner.
20% of the progressive jackpots in the ETH are transferred to the home (stored in a smart profit-sharing contract)
100% FGR token collected through ticket sales for progressive sweepstakes is redistributed back to conventional raffles as a reward for future players.
The mechanism of the conventional lottery is described as follows:
A conventional lottery has a fixed fare price at the ETH for each entry.
Some sweepstakes can be at different price points to allow the widest adoption.
Players can buy 1 or more tickets to enter the raffle with each additional ticket purchased offering a greater chance of winning the jackpot.
FGR tokens are rewarded with a 100: 1 ETH ratio based on the size of their bets.
A conventional lottery has a number of ticket targets to be sold. [Min: 20]
After all tickets are sold for a single lottery, winners are randomly selected.
10% of all funds in the ETH for the lottery are transferred to the progressive lottery.
The remaining 90% of the funds in the ETH (after cost) are awarded to the winner
TOKEN SALE
Fairgrounds will offer 50,000,000 FGD tokens (50% of the total supply) as part of a token
sale. This token sale will raise ETH to primarily fund a bankroll to support certain chancebased
games like a lottery or roulette. The token sale will begin February 7, 2018 and end
April 11, 2018, or until all tokens are purchased. The only crypto-currency accepted will be
ETH, and the exchange rate will start at 1:10000 ETH to FGD. Every week the exchange rate
will decrease by 1000. E.g. Week 2 will offer 1:9000, Week 3 will offer 1:8000 etc. Any FGD
tokens from the sale that go unsold at the end of the 2 month period will be burned. This
will reduce the overall supply of FGD tokens, and should provide greater value for those
participating in the sale, as their percentage of ownership will increase.
FGD BONUS REWARDS
Fairgrounds will offer 25,000,000 FGD tokens (25% of the total supply) as a bonus reward
for early adopters to the platform. That is, early adopters of the platform will receive both
FGR and FGD tokens for playing games on the platform. Referral bonuses will also pay out
an additional 10% reward to both referrer and player in FGD tokens. The FGD bonus
reward will be offered at a rate of 10000:1 FGD to ETH.
The remaining 25,000,000 FGD tokens (25% of total supply) will be stored in cold storage to
fund future development, operations etc.
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
- 2017 September Development Complete
- 2018 January Contract Audit Complete
- 2018 February Token Sale Begins
- 2018 February Profit Sharing Contract In Progress
- 2018 April Token Sale Ends
- 2018 April Roulette
- 2018 June Lottery
- 2018 August Spin The Wheel
FOR MORE INFORMATION:
author: muhammadsosa
eth: 0x8056b4866D50eBCE01D33EDc967D38a6Bf724420
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