True Flip Enters The Slot Market With Chain’s Code

True Flip, the blockchain fair games operator, has developed and launched its first slot game
05 April 2018   2558

Lotteries give a chance to dramatically change one’s life for the better. This chance has always drawn the attention of millions of people around the world for the past 500 years, giving them hope to improve their financial condition. True Flip’s goal is to become the most popular and transparent international blockchain platform of fair games that offers the biggest Jackpots and prize funds in the world.

True Flip, the blockchain fair games operator, has developed and launched its first slot game!

Chain’s Code is available now at cc.trueflip.io with bets starting at 0.000020 BTC and up to 5 BTC as the Superprize. Chain’s Code features a single-line slot machine with a centralized play button for speed, ease of use and substantial replayability. Draws take place every 10-15 seconds, making Chain’s Code the fastest game from True Flip so far.

With their fast and captivating gameplay, so-called 'slot games’ are among the most widely-adopted iGaming products across the globe. Our decision to develop a slot machine game follows our long-term strategy of acquiring additional markets through the reinterpretation of admired, classic games. We expect Chain’s Code to become the strongest competitor to similar top-tier products and to bring new players to Trueflip.io.
 

Konstantin Katsev

CMO, True Flip

Based on a provably fair blockchain solution, Chain’s Code has a built-in multiplier which exponentially increases the possible win. Six major cryptocurrencies are accepted. All payouts are in Bitcoin.

True Flip started as a popular single game with daily draws and a huge jackpot. Based on our comprehensive analyses, we’ve been developing new games to provide a different experience to our players. Chain’s Code is perfect both in terms of appearance and gameplay: it’s smart and simple, but endearingly cute. This product meets the highest standards our users and partners could ever imagine.
 

Nikita Parkhomenko

COO, True Flip

About True Flip

True Flip is a blockchain fair games platform, drawing from the advantages of distributed ledger technology. These include overall transparency of processes such as random number generation, ticket purchases, prize distribution, and our innovative approach to the financial aspects of iGaming.

True Flip has released three games, with more in development, and has presently attracted more than 170,000 registered players. As a result of its successful crowdsale in July 2017, the current Jackpot is a massive 400 BTC which keeps growing with every ticket sold. The platform offers self-developed customer products available on trueflip.io and a range of B2B solutions for iGaming operators, affiliates and integrators.

More Information

ICOs May Allocate $24B Tokens to Themself

As reported, price of tokens, "left to cover the operating costs", reached $80B at the peak
17 January 2019   145

The total cost of the tokens that the organizers of well-known ICO projects have left to cover the operating costs and remuneration of developers at the time of release was $ 24.2 billion. At the peak, their price reached almost $ 80 billion. This is evidenced by the results of a study conducted by BitMEX together with the TokenAnalyst.

At the current illiquid rate, the assets of ICO-projects in their own tokens amount to about $ 5 billion, having depreciated by more than $ 70 billion.

However, the researchers note, this value is rather arbitrary, since the liquidity of tokens at peak levels was low. It is also incorrect to classify changes of this amount as losses because the organizers of the ICO transferred tokens into their wallets in accordance with the crowdsale conditions.

Having studied the archive of token transfers from ICO-team wallets, BitMEX and TokenAnalyst came to the conclusion that the realized profit from the sale of such tokens could be $ 1.5 billion, with the proviso that some of the tokens might not have been sold or left the wallets for other reasons .

The largest amounts of tokens in their wallets were credited by the Veritaseum and Noah project teams, which, as analysts say, looks “almost comical” against the background of real trading volumes.

Token data up to Dec 2018, data based on prices at the time(s) of issuance
Token data up to Dec 2018, data based on prices at the time(s) of issuance

This analysis highlights the lack of standards and transparency in the ICO market, especially when it comes to the allocation of tokens to the founding team’s wallet. Teams were often able to mint, burn, buy, and sell (their own) tokens at will, without analysts being able to easily track what is occurring. We would often see tokens in exchange clusters, and it was hard to tell whether the token project “paid” the exchange to list tokens or the token project just transferred their treasury to the exchange to cash out.
 

BitMEX Researchers' Report

In November 2018, BitMEX CEO Arthur Hayes said that the tokens of the largest ICO projects would collapse after entering the secondary market.