TFS Token x TruePNL AMA Recap
TruePNL team is delighted and thankful for the opportunity to host an AMA session with the TFS Token team.
TFS Token (Fairspin) is the first known international blockchain casino successfully operating and rapidly growing since 2018. Over 400K active users of the platform enjoy the extensive number of games, slots, lotteries, and live poker tournaments. The platform also provides interconnected rewarding programs to get more benefits by playing exciting games and holding TFS tokens.
This article is a quick recap of all the questions asked during the AMA. We received a lot of engagement from our community and we are pleased you got to ask all of your questions!
Read on to find out more!
TruePNL: Hi everyone and welcome to another exciting TruePNL AMA, this time with Alex, CBO from Trueplay — a backer of TFS Token (Fairspin). Welcome and thank you for taking the time today to join us!
Could you please first introduce yourself to our community and guests?
Alex: My name is Alex, I am a Chief Business Officer at Trueplay, I’ve been on board for almost 5 years, but my crypto journey started back in 2014 when I mined my first bitcoin. Nowadays, I am involved as a technical partner in tokenizing our current and upcoming clients. The TFS token is the first project that we landed and I’m more than happy to share all the TFS-related details with you.
TruePNL: Can you tell us more about the vision behind TFS Token and how your experience has led you here?
Alex: From the very beginning, Fairspin had a single most important business goal, to become the first truly and fully transparent gaming project. It was decided to bring a third-party blockchain solution and thus avoid any risk of speculation or mistrust. This idea came to our mind somewhere in 2018 and the Fairspin team was the only one who supported that idea. To make it happen, Fairspin signed a partnership with our Trueplay team, a ready-to-use solution that could be easily integrated into any online service with a set of tools needed for transparency. 3 years have passed and the crypto world is rapidly expanding! At that point in time, we somehow realized that tokenization of online business might be the thing. That’s actually how TFS token showed up in our minds. The vision was our next question. We were going back and forth and backed the following vision: our vision for TFS is in its “gamification” which implies its further enhancements for existing users such as honest tournaments, lotteries, giveaways, and abilities to earn tokens while playing games at Fairspin.
TruePNL: Why did Trueplay onboard Fairspin as its first partner?
Alex: Fairspin was chosen as the first partner for platform tokenization as we share the same values, such as security and transparency in our online services where there’s any financial interaction between a service and its users.
TruePNL: So let’s talk about TFS Token closer. What is the TFS Token revenue model? In what ways do you generate revenue/profit?
Alex: In fact, this is exactly what the “Hold to Earn” program aims at. Through this program, Fairspin will share a part of its monthly revenue with users that prefer to stake TFS tokens for profit. Besides that, every user can be assured that he will be paid every penny as every transaction, payment or bet will be published in blockchain. The TFS token is a technical tool for the Fairspin project to share its loyalty (% from profit) in the form of TFS tokens with its loyal users.
TruePNL: What is the key difference from the other projects similar to TFS that have been created before?
Alex: Gambling platforms on the market continue to adhere to the old rules, providing their users only with games, while not taking into account modern technologies that can significantly increase the level of trust and scale the community. The very point of Trueplay is to be able to view and keep track of every event at Fairspin with no technical possibility to change, delete, or add any piece of information. It makes data transparent and unbiased, which is the whole point of Fairspin as a blockchain-based gaming platform and the TFS token as a loyalty tool.
TruePNL: What are the utilities of TFS token in your platform?
Alex: A new model of interaction with the platform is opening up for TFS owners — Play-To-Earn. Previously, all gamers spent their time on Free-to-Play platforms without receiving any benefits for their efforts, but now Fairspin rewards its users for being active in games and for participating in exclusive programs.
TruePNL: Any particular reason why are TFS Token expanding on the ETH network (with higher fees) and not on some faster and cheaper to maintain networks?
Alex: To be honest ETH has been very painful so far! ETH network was chosen as the first one to launch since almost everybody knows about ETH and it seems to be the most popular network across users. However, at some point in time, using only the ETH network became painful when it comes to network fees, almost $100 fee per transaction. Thus, we decided to roll out TFS token on the BSC network to let our users enjoy probably the cheapest fee rates on the market.
TruePNL: The next author’s question wrote that he noticed TFS Token (Fairspin) site doesn’t contain information about investors and partners. Could you tell us about project partners?
Alex: The last time I personally checked it, the total raised sum was about $1.5M. As for the Fairspin partners, there are more than 50+ gaming providers who are already partnered with the Fairspin platform. Fairspin folks are adding more and more since on our side at Trueplay we have to proxy all the data and publish it to the blockchain.
TruePNL: How does the Fairspin.io platform provide a completely new, transparent and safe approach to casino gaming through the implementation of blockchain technology? What does allow people to be confident in TFS Token (Fairspin) security and reliability?
Alex: First of all, Trueplay installed its proxy called the Truesign module. Technically, it’s a very simple yet safe solution to see all that happens within Fairspin with no access to the data whatsoever. Truesign can see, store and publish to the blockchain network everything that happens in games (deposits, bet amount, bet result, bonuses, cashback, etc.). This way, it is possible to see the current income of the platform or check the daily/weekly/monthly/yearly numbers. The very point of the Truesign module is to be able to view and keep track of every event at Fairspin with no technical possibility to change, delete, or add any piece of information. The simple explanation in non-technical terms: Trueplay is a guard standing with binoculars and monitors every transaction in Fairspin
TruePNL: Can you tell us about the “Hold to Earn” program? How is Fairspin is going to share income with players through the “Hold to Earn” program? What are the benefits for the most active players?
Alex: The Hold To Earn program is inspired by the best traditions of the crypto world and invites its users to increase the number of their TFS. In the crypto industry, this practice is called staking and consists in freezing a certain number of tokens for a certain period of time in order to receive rewards. The Fairspin platform is the world’s first casino that not only runs on blockchain but also helps its users to receive even more crypto rewards. The rewards amount depends on several factors: the selected holding time; the number of the holding participants; the number of tokens that are put on the holding (the share in the pool depends on this); Fairspin income at the time of holding.
You can read more about the benefits here.
TruePNL: Will you be encouraging your regular players with the new token and in what form, raffles, airdrops?
Alex: I will give you a little spoiler here — regular players will get a higher % in Hold-To-Earn programs.
We sincerely thank the TFS Token team for a fantastic AMA event and thanks to all users for submitting their questions.
In closing, our AMA winners will be contacted via email soon!
The Whitelist for TFS Token is still open on TruePNL.
You can find out more details about the sale HERE.