📄Whitepaper V2
Introduction
Polyflip is a decentralized betting platform powered by Polygon Network and Chainlink. Unlike traditional casinos that operate in black boxes, Polyflip runs on smart contracts that are fair, transparent and immutable.
The platform provides a low-cost and fast gaming experience through the combination of both traditional core game and blockchain mechanics. Every bet comes with a fee, distributed to all Polyflip NFT holders as a special reward.
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 contracts are all transparent and available in the "Contracts" section of our Docs.
What is Polyflip
The Platform
The principle of the smart contracts is to allow the users to play casino games with their tokens on Polygon blockchain.
The users have the possibility to play Coinflip, Crash, Roulette, Dice and many other games directly on-chain. This ensures the total transparency and fairness of the platform, which integrates verifiable source of randomness through VRF service powered by Chainlink.
Once the user connects the wallet, he/she can get access to his/her private dashboard, in the profile page, that shows:
the player's history.
the total number of bets played.
the total volume played.
Every user can also personalize his/her account by changing the nickname and select his/her NFTs as avatar. At the bottom of the page the holders of the Polyflip NFTs will find a dedicated section where they can claim their Exclusive Holders reward.
Polyflip points ($FLIP)
With Polyflip, players can play games to earn $FLIP token. Each Polyflip user will accumulate Polyflip Points in proportion to the total volume played. Initially only MATIC will be accepted:
If the play is in MATIC, Polyflip points given will be 1:5;
If the bet is in WETH, Polyflip points given will be 1:
If the bet is in another TOKEN, Polyflip points given will be 1:
The token is awarded to players for every bet (losing or winning). $FLIP will be used to buy items in Polyflip official Shop and its ownership reflects the volume that every user has played on Polyflip games. The more $FLIP owned the higher the value of the items purchasable in the Shop.
The total supply of $FLIP is capped at 250.000.000 and the emission will happen only through the bets placed on Polyflip games or airdrops. There will be no ICO.
Shop
🛍️🛒 The Shop is a dedicated section on Polyflip website. You can buy different items only with your Polyflip Points ($FLIP).
Items purchasable could be:
Polyflip scratch-off;
Wheel-spin 🎡;
Lottery tickets;
Future NFT collections;
NFT holders
The benefits for the holders of at least 1 of the 1000 Polyflip partnership NFTs includes, but not limited to:
the possibility to receive a weekly exclusive reward, in MATIC, based on the profits generated by the Polyflip games. The profits are calculated weekly, directly on-chain, considering the difference between the MATIC played during the week and the MATIC won during the same week, between the two blocks of the rewards distribution.
For example, if on Sunday the house starts with 30,000 MATIC and on the next Sunday there are 40,000 MATIC, the positive difference, in this case 10,000 MATIC, will be distributed according to the following shares:
50% distributed to holders and 50% kept in the house until the house reaches 50,000 MATIC balance;
60% distributed to holders and 40% kept in the house until the house reaches 80,000 MATIC balance;
70% distributed to holders 30% kept in the house until the house reaches 100,000 MATIC balance;
75% distributed to holders and 25% kept in the house above 100,000 MATIC MATIC balance in the house
The eligibility criteria can be found in the "Holder's reward distribution" section on our Docs.
exclusive priority to future NFT projects related to other features that we might 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.
Fees distribution
For each play the smart contract will retain a % of the bet that will be distributed.
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.
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.
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