Provably fair blockchain lottery True Flip has announced a strategic partnership with DAO.Casino, the gambling blockchain protocol which allows for the creation of custom-made decentralized online casinos funded and run by the community. Both projects are currently in ICO stage.
The Beginning of a Beautiful Partnership
For their first joint project, True Flip will undertake the development of a decentralized lottery game on their platform utilizing DAO.Casino’s gambling protocol. True Flip expects this update to provide additional momentum to platform’s development following the crowdsale.
Nikita Parhomenko, True Flip COO, stated:
As we’re aimed to provide the ultimate user experience for those playing at True Flip, the general idea of extending our product line was stated to be among the first major improvements following the crowdsale. It has become clear that True Flip and the team behind DAO.Casino have a mutual interest, so we move on with our Roadmap goals using this chance to rapidly implement the partner’s excellently crafted solution. Thanks to the success of True Flip’s ongoing crowdsale, now we’re ready to boost the planned improvements process.
The DAO.Casino team, on the other hand, believes that this implementation will be a great illustration of the ways their innovative protocol can benefit all sorts of online gambling services and the entire online gambling community.
DAO.Casino CEO Ilya Tarutov weighed in on the partnership as well:
The DAO.Casino’s protocol was created to provide the necessary level of decentralization for the businesses seeking it. True Flip is one good example of the benefits given by such partnerships. As we provide this team with a sustainable back-end solution to maintain one of its gaming options, it’s going to become a good showcase of the opportunities that DAO.Casino provides to its partners and another argument in favor of the bright future ahead of our technology. We look forward to making this partnership a truly win-win for both teams.
Further details of the project have yet to be released, however, additional information will be provided in the coming weeks as the new API integration process has only just begun.
True Flip ICO Status Update
True Flip’s ICO, which ends in a little over a day and a half at the time of this writing, has been – by anybody’s standards – a rousing success. In the first few hours following the ICO’s launch, over 2 million of the available 14.7 million TFL tokens had been sold, raising an impressive 1225 BTC or $3.1 million USD at today’s exchange rates.
— True Flip (@TrueFlipLoto) July 20, 2017
Now, with the end of the ICO just around the corner, TrueFlip has announced the desired goal has been attained.
Parhomenko addressed ICO participants stating:
First, I’d like to thank all token holders for their priceless support of this project. I’m sure there are no obstacles now to thwart our way ahead! With good efforts already made, we’re ready to face the tough challenge of gaining the desired market share. True Flip has all the prospects to set the industry standard in provably fair gaming. This target motivates the team on its step-by-step track towards the desired product and business setup. In the nearest weeks, we’ll provide more news on True Flip’s current workflow and further development.
At the completion of the crowdsale, all remaining unsold tokens will be destroyed and funds raised will be allocated as follows:
- 40% of funds raised during the campaign will form the jackpot
- 23% will finance further development of the platform and new games
- 20% will be reserved for marketing
- 12% for operations
- 5% for legal purposes
Holders of TFL tokens will be entitled to participate in the decision-making process regarding the project’s future development. In addition, they will be eligible for a share of 10 to 15 percent True Flip’s revenues from all tickets sold every quarter.
There is still time to participate in the ICO and earn 20% bonus TFL tokens. Once the 2000 BTC mark has been reached that bonus will be slashed in half to 10%. To learn more about TrueFlip please visit their official website or click here to learn about the True Flip ICO.
About True Flip
True Flip is the developer of a provably fair blockchain-powered international lottery inspired by classic PowerBall-like lotteries. The platform has proven to be extremely popular, having attracted over 100,000 players worldwide and paying out over 44 BTC since its beta launch in April of this year.
The project’s team summed up just how True Flip differs from traditional lotteries:
The history of lotteries has not known any solution that could guarantee the absence of any meddling. TrueFlip intends to revolutionize lotteries with transparency and fairness brought about by blockchain technology.
What do you think of the new partnership between True Flip and DAO.Casino? How will it improve the platform’s UX? Let us know in the comments below.
Images courtesy of True Flip, DAO.Casino