Glossary | FAQ
Token is a digital value, an instrument for the Trueplay loyalty programs, which will as a reward value for users and could be used as a digital asset. Tokenization is a process of converting something of value into a digital token that's usable on blockchain technology.
Trueplay Widget 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 program is a program where participants get rewards, which calculates from casino GGR proportional to their share in the staking pool.
Play To Earn - is a program where participants receive rewards in tokens as a rakeback from placed bets.
DEX - 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 - 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 - 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 - the total dollar value of all issued tokens (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) - an automated tool for market-making of the operator's token. It mirrors transactions between the casino and the widget 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 in the widget since all tokens, when exchanging tokens for the casino balance, tokens 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 to return to the casino, make bets, and add more funds to the Hold To Earn program.
What is a Trueplay widget?
Trueplay widget is a unique tool that helps iGaming businesses boost users’ engagement. Widget is integrated into the iFrame form and allows casino brands to launch their own tokens, Play To Earn and Hold To Earn programs. Blockchain Explorer, which is integrated with the widget, provides transparency for casino end-users (users can check all transactions anytime).
On the first integration step, Trueplay creates a token for your brand with parameters suited for your casino's volumes and users. This will form the basis of the Token economy and further the loyalty system.
How does the Trueplay widget work?
The business model is based on the following flow: casinos reward users for Play To Earn and Hold To Earn Activity, which is called token emission, then get this token back from users as a loyalty bonus and back users to the game.
There are two types of activities in the Trueplay widget:
- Play To Earn program - users receive cashback from gaming activities in the project's tokens.
- Hold To Earn program - 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 the casino gets in time, which is 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?
The stages of the widget launch are depicted on the picture below.
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After implementing the widget, 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 widget. 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 must 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 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 a Trueplay widget improve retention?
- Players consider participation in holding as a safe alternative to gambling (users receive the same amount of staked tokens if GGR were <=0).
- Received tokens users can withdraw on casino balance to play games.
- To get more from staking, User needs to do a gaming activity
- Trueplay provides features like Promo campaigns, Referral rewards to boost engagement.