Place/Date: - August 10th, 2021 at 9:08 pm UTC · 3 min read
Source: FUN Token
July 1, 2021, was a significant day for FUN Token.
The Binance-listed token became one of only 10 coins to be listed for Locked Savings at Binance, joining the likes of BTC, USDT, and LINK. Users can earn up to 45% APY on their FUN Token holdings at Binance.
Now, FreeBitco.in is giving 46 million users a seamless way to earn interest on their FUN Tokens…
FUN Token was created in 2017 to bring decentralized online gambling to the masses. However, rising Ethereum gas fees and latency made operations impractical coming into 2021. That’s when FreeBitco.in, the seventh-largest online casino in the world, stepped in.
FreeBitco.in came up with a unique off-chain use case for FUN Token – a Premium Membership program where users could hold tokens to earn benefits. Eventually, FreeBitco.in acquired FUN Token in February and built a team around it.
Since then, FUN hasn’t looked back. Being exposed to FreeBitco.in’s massive user base, FUN Token tripled its user base to 250,000 in a matter of months.
Users locked over 100 million FUN Tokens within hours of launch. At the time of writing, over 165 million tokens have been locked by FreeBitco.in users. This shows burgeoning interest and confidence in FUN Token’s future as the organization plans to roll out a ton of new upgrades and developments in August.
FUN Token kicked off the month with a $100,000 Trading Competition at Binance which saw over 10.5 billion tokens traded on the exchange. As August goes on, the team plans to launch an exclusive custodial casino – DPLAY – where users will be able to play popular table games and video slots using FUN Tokens.
Furthermore, the team is set to launch XFUN, a new Layer-2 token on the Polygon network, that will be pegged 1:1 with FUN Token. This token will get rid of the latency issues and high transaction fees of the Ethereum mainnet, enabling smooth, seamless gaming.
XFUN will be minted in exchange for escrowing FUN Tokens and removing them from active circulation. This would act as a strategic burning mechanism for FUN. Subsequently, a non-custodial wallet for XFUN and FUN with user-friendly swapping, fiat to XFUN/FUN capability, and integrated KYC will be launched.
A full-fledged, truly decentralized casino utilizing XFUN would then be launched, marking a significant step in FUN Token’s journey towards achieving decentralization in online gambling. A promising future is on the horizon.