Overview
Fareplay Casino is a decentralized, blockchain-based gaming platform allowing users to wager on games with test tokens in a trustless environment. All transactions occur on-chain, making wagers and outcomes fully transparent and verifiable. Fareplay leverages Chainlink’s Verifiable Random Function (VRF) to ensure game randomness, providing transparency and trustworthiness in its outcomes. Currently, Fareplay operates on a private access model with a free-to-play structure, utilizing test tokens called “PHONEY.”
FARE Token
The casino’s native token, FARE, is designed with a deflationary mechanism. While not yet launched, FARE will function as the primary wagering token on the platform. Users’ FARE winnings will be minted upon wins, while losses will result in token burns, creating a deflationary token economy. This setup mirrors a “house” model, where token holders gain from the inherent “house edge” built into the games. FARE tokens are anticipated to provide holders with the benefits associated with “the house” in traditional casinos.
Earning FARE Points
Fareplay currently offers users the opportunity to earn “FARE Points” by engaging with the platform’s testnet features. Upon joining, users receive 100,000 test PHONEY tokens, with additional tokens granted for successful referrals. Points can also be accumulated based on gameplay results—earning “Kill” points for wins, “Death” points for losses, and “Assist” points for activities of invited users. The points system is structured to reward active participation and successful engagement on the platform.
Points Leaderboard and Rewards
Players participate in a points leaderboard called “Deathmatch,” where top-ranked players receive multipliers and other rewards. Users earn higher points by achieving positive outcomes, inviting new users, and completing quests available on the platform’s dashboard.
Private Access and Invite Codes
As Fareplay Casino is still in a testing phase, access is limited to users with invite codes. This controlled access allows the platform to fine-tune its mechanics and gather feedback before a wider release. Points accrued during this period may lead to early advantages or other benefits upon full launch.
Technology and Partnerships
Fareplay Casino runs on the Fare Protocol, a decentralized protocol designed to support Web3 gaming applications. In addition, the project is backed by a consortium of investors, including several prominent blockchain-focused venture firms. The platform integrates Chainlink VRF for on-chain randomness, enhancing the fairness and transparency of game results.
Future Developments
With the launch of the FARE token planned, Fareplay intends to move towards a model that combines the decentralized aspects of blockchain technology with traditional gambling mechanics. The deflationary design of FARE aims to create sustainable token economics, aligning user incentives with platform growth.
