Glossary & FAQ
Everything you need to know before the start
Token is a digital value, an instrument for the Trueplay loyalty programs, which is used as a reward value for users and as a digital asset. Tokenization is a process of converting something of value into a digital token that's usable on blockchain technology.
Trueplay product is an iFrame solution by Trueplay for casino operators, where users can receive tokens from the Play to Earn program and add tokens to the Hold to Earn program to get rewards.
Hold to Earn is a Trueplay loyalty program where users get rewards, calculated from casino GGR proportional to their share in the staking pool.
Play to Earn is a Trueplay loyalty program where users receive rewards in tokens as a rakeback from placed bets.
DEX is a peer-to-peer marketplace where users can trade cryptocurrencies in a non-custodial manner without needing an intermediary to facilitate the transfer and custody of funds.
Liquidity pool is a crowdsourced pool of crypto tokens locked in a smart contract that is used to facilitate trades between the assets on a decentralized exchange (DEX)
Token price is the price in fiat currency or cryptocurrency, as the case may be, at which the Tokens will be sold, as determined by the ratio between supply and demand.
Token Capitalization is the total dollar value of all issued tokens or Total Supply of tokens.
Buyback is the process of buying back tokens, which the operator carries through the Trueplay admin panel to ensure the issued emission of tokens. Buybacks are made daily by buying the amount of the issued emission for the previous day on the exchange.
Swap (trading) is an automated tool for market-making of the operator's token. It mirrors transactions between the casino and the Trueplay product in the liquidity pool on the exchange. The operator does not bear exchange rate risks in connection with the purchase/sale of tokens by users. When exchanging tokens for the casino balance, they are physically sold for USDT in the liquidity pool and go to the operator’s balance.
Loyalty program offers rewards or other special incentives to increase players' engagement and acquisition. In addition, Trueplay provides for casinos Play to Earn, Hold to Earn, Referral programs, and Promo Management functionality to motivate users return to the casino, make bets, and add more funds to the Hold to Earn program.
What is the Trueplay product?
Trueplay product is Tokenized Loyalty Programsl that helps iGaming businesses boost user engagement. Trueplay is integrated into gaming platform as an iFrame and allows casino brands to launch their own tokens, Play to Earn and Hold to Earn programs. Blockchain Explorer, which is integrated with Trueplay, provides trasactions data for casino end-users, so they can check it and absolutely trust your brand.
On the first step of integration, Trueplay creates a token for your brand with parameters suited for your casino's volumes and users. This will form the basis of the loyalty system.
How does Trueplay work?
The business model is based on the following flow: a casino rewards users for Play to Earn and Hold to Earn activity, which is called token emission. Then a casino gets its tokens back from users as a loyalty bonus and return users play more.
There are two types of activities in Trueplay:
- Play to Earn - users receive cashback from gaming activities in the project's tokens.
- Hold to Earn - a program where some shares from casino GGR are distributed among staking pool participants. The bigger share, the more rewards users can receive. Holding reward calculation based on GGR, which a casino gets in time, equal to program duration. Some staking programs are limited. Users must play on the casino platform to increase their maximum available share in the staking pool.
User can do such actions with received tokens: add them to the Hold to Earn to receive more rewards; withdraw to the casino balance; withdraw to their own crypto wallet.
How Hold to Earn and Play to Earn rewards are calculated?
- Play to Earn reward is calculated as Bet Amount * Bet Wager. User can see bet wagers in Play to Earn settings.
- Hold to Earn reward is calculated as GGR (during staking program) * GGR share (defined in program condition) * User share in Staking pool * Token exchange rate.
How can operator launch a token sale?
After implementing Trueplay, we recommend giving tokens via Play to Earn programs and educating the audience on how to add tokens to Hold to Earn and get more rewards. However, we don’t recommend allowing users to withdraw tokens to casino balance or crypto wallets.
How to deposit/withdraw tokens?
Users can deposit or withdraw tokens in Cashier inside the Truelay product. Users can buy tokens using casino balance or transfer tokens, which were purchased on the DEX; Users can withdraw tokens from the casino balance or own crypto wallet (to sell on the DEX in the future).
How to exchange tokens in USD?
Users have to withdraw tokens from crypto wallets and sell them on DEX, where the token is listed.
How are token prices regulated?
After the widget launch, we recommend setting the token price based on casino GGR and the size of the token supply.
After the launch of Liquidity pool on DEX, token price is regulated by supply/demand from users. To prevent price decreases, we do buybacks and transaction mirroring.
How does Trueplay improve retention?
- Players consider participation in holding as a safe alternative to gambling. Users receive the same amount of staked tokens if GGR is below zero.
- Users can withdraw received tokens on casino balance to play games.
- User needs to do a gaming activity to get more from staking.
- Trueplay provides engaging features like promo campaigns and referral rewards.
Last modified 21d ago