Blockchain-powered games provider FUN has announced the imminent launch of XFUN – its new Layer 2 token on the Polygon network that will replace and change the dynamics of the current FUN token.
XFUN benefits from the increased performance of Polygon and lower latency. XFUN will be issued as part of a process where FUN tokens are sequestered from the Ethereum mainnet and withdrawn from commercial circulation.
Once the upgrade is complete, XFUN will replace FUN as a token powering the dPlay casino.
Most importantly, the XFUN token will be rolled out to a number of new companies over the next 6 months. There are plans to launch a new XFUN casino, chain poker room and sports betting by the end of the year.
The FUN token was initially developed by FunFair Technologies in 2017 to fuel its FUN ecosystem. At the start of 2021, FUNToken.io took control of FUN; and focuses on its development separately from FunFair Technologies with a new use case.
The new XFUN token will maintain a value of 1: 1 with FUN and support full interoperability.
Importantly, this upgrade will allow FUN to better leverage the power of blockchain to develop its strategy for decentralized gaming platforms, treasury and fund management.
XFUN will be supported by a non-custodial portfolio comprising:
- Possibility to hold both FUN and XFUN tokens
- Integration with the Ethereum and Polygon main network
- Seamless exchange of FUN in XFUN and vice versa with integration in the XFUN bridge
- FIAT opportunities integrated with FUN / XFUN using 3rd part processors
- Non-gasoline transactions on XFUN where available
- Integrated KYC when required by operator
“XFUN will be integrated into a number of gaming and entertainment verticals as part of an ongoing process to grow the ecosystem. While initially some of these will be owned internally or by associated entities … our longer term intention is to expand the accessibility and use of XFUN by encouraging third party operators to use XFUN as a mechanism. of payment. To this end, we will provide payment APIs to third party operators.
– The FUNToken team