📄Whitepaper
Substited by "Whitepaper V2" on 06/03/2022.
Introduction
Polyflip is a virtual and decentralized gaming platform, using a smart contract built on Polygon blockchain.
The platform introduces a unique gaming experience through the combination of both traditional core game and blockchain mechanics, that are described in this document ahead for new players and NFT investors. Users can play Coinflip and double up their MATIC / ETH with 50/50 odds or play multiple Coins and win up to 16 times the pot. Every bet comes with a 2% fee, distributed as an Exclusive Reward to all Polyflip NFT holders.
Polyflip is powered by Chainlink, the leading provider of VRF: Verifiable Source of Randomness”, that ensures the total fairness and randomness of our protocol.
The smart contract will be linked as soon it is deployed on Polygon blockchain.
What is Polyflip
The Game
The principle of the smart contract is to allow the users to play with their tokens on Polygon blockchain with a double or quits mechanism.
The users have the possibility to choose the amount of the prize, by increasing the number of coins to flip simultaneously, up to 16 times the pot.
These are the possible plays:
Win 2 times* the value of the pot with only one coin and 50% odds;
Win 4 times* the value of the pot with two coins and the 25% odds;
Win 8 times* the value of the pot with three coins and the 12.5% odds;
Win 16 times* the value of the pot with four coins and the 6.25% odds.
Once the user connects the wallet, he gets access to his/her private dashboard that shows:
the player's history and the game stats.
a credit bonus balance, only in MATIC, where the users will receive special prizes during the gameplay. More details in the next paragraphs.
the polyflip points balance.
The holders of the Polyflip partnership NFTs will also find a dedicated section where they will receive their Exclusive Holders reward.
*Excluding the 2% of the play fees
NFT holders
The benefits for the holders of at least 1 of the 950 Polyflip partnership NFTs includes, but not limited to:
the possibility to receive weekly 1,5% of the total volume generated by the platform, as a reward in MATIC. The Exclusive Holder reward per each NFT is calculated as the 1,5% of the total volume generated that week divided by the total number of NFTs. If more Polyflip NFTs are detected in the user wallet, the rewards in MATIC will be the sum of the rewards of each NFT. As an example: if the total volume of the WETH or MATIC played on the platform in one month has a countervalue of 5.000.000 MATIC, the reward received per each NFT, monthly, would be:
exclusive priority to future NFT projects related to other services that we will implement in the platform.
be our partner in the development of the project that aims to become the leading gaming platform of Web 3.0.
How to redeem your reward as NFT holder
There are 2 ways to redeem your reward:
Claim the rewards
In the spirit of the platform, we give the possibility to our holder to double up (or more) their weekly reward by flipping one, two or more coins.
Fees distribution
For each play the smart contract will retain the 2% of the bet that will be distributed accordingly to the following chart:
For the first period of time, Polyflip team will not keep any percentage of the gameplay fees in order to:
secure more funds to our treasury house to keep the system sustainable;
increase the maximum bet playable;
reward the early supporters of the project who bought the NFT.
Our main focus is to bring value to our investors and our players in a long term view.
Polyflip points
Each Polyflip user will accumulate Polyflip Points in proportion to the total volume played. Initially only MATIC and WETH token will be accepted:
If the play is in MATIC, Polyflip points given will be 1:5;
Polyflip points are not a token. The utility is hidden and will be revealed with the continuation of the project, but it is conceived to reward the platform users.
NFT prizes
As a reward to the most loyal users, Polyflip will introduce two special editions of NFTs, as part of our ecosystem: a PRO edition and an ELITE edition.
The NFT ELITE and the NFT PRO will be airdropped to players who achieve a certain amount of MATIC/WETH volume played on the platform. The amount will be disclosed few weeks from the launch, when the platform will be fully operative.
The benefits associated to the NFT ELITE and the NFT PRO will be:
Fees discount for Polyflip games;
Be whitelisted in new projects;
Get exclusive access in new Polyflip initiatives (i.e. MATIC cashback, exclusive competitions to win a treasure);
These NFTs can also be exchanged on Opensea.
Vision
Polyflip is a long term project built together with the community for the community. Our team is totally convinced that blockchain applications and adoption is only at their first step and that in the next few years most of the centralized services will be replaced by decentralized and fully transparent systems.
Our goal is to become the leading gaming platform of the Polygon blockchain, building day by day value and new opportunities for our investors and the players.
Our long term vision is then to expand the platform also to the Binance Smart Chain and Ethereum Blockchain once Ethereum 2.0 update will be fully operative.
A huge feature also will come with Polyflip V2 in the weeks following the main launch.
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