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The blockchain-driven game provider FUN announced the upcoming launch of XFUN, its new layer 2 token on the Polygon network, which will replace and change the current dynamics of FUN tokens.
XFUN benefits from Polygon’s higher performance and lower latency. XFUN will be minted in a process, that is, FUN tokens are hosted from the Ethereum mainnet and removed from the transaction circulation.
After the upgrade is completed, XFUN will replace FUN as the token that powers the dPlay casino.
Most importantly, XFUN will be deployed in many new gambling companies in the next 6 months. The current plan is to launch a new XFUN casino, a fully online poker room and a sports betting before the end of the year.
The FUN token was originally developed by FunFair Technologies in 2017 to power its FUN ecosystem. In early 2021, FUNToken.io took control of FUN; and focused on using new use cases to develop it separately from FunFair Technologies.
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The new XFUN token will maintain a 1:1 value with FUN and will support full interoperability. Most importantly, this upgrade will enable FUN to better utilize the power of the blockchain to formulate its strategy for decentralized gambling platforms, funds and fund management.
XFUN will be supported by a non-custodial wallet that has:
- Ability to hold FUN and XFUN tokens at the same time
- Integration with Ethereum mainnet and Polygon
- Seamlessly exchange FUN into XFUN and reversely integrate into XFUN Bridge
- Use 3 to integrate FIAT into FUN/XFUN opportunitiesroad Party handler
- Where available, gas-free transactions on XFUN
- Integrated KYC required by the operator
“XFUN will be included in many gambling and entertainment verticals as an ongoing process of developing the ecosystem. Although initially some of them will be owned by internal or related entities… Our long-term intention is to expand by encouraging 3rd party operators to use XFUN as a payment mechanism Accessibility and use of XFUN. To this end, we will provide payment APIs to third-party operators.”
– FUNToken team
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