The practical use of decentralized applications [DApps] is continuously growing and the demand for new and novel applications is unlimited. Out of these applications, decentralized gambling platforms have historically been the best opportunities for early token holders.
Neoplay, a blockchain development team, has NEO and Ethereum [ETH] smart contracts built for a decentralized, provably-fair, cross-network gambling platform in which users will have the opportunity to reroll losing bets against the house!
ETH and GAS can be used to place bets and users can subsequently choose their odds of winning. Neoplay has developed 2 native tokens, namely, NPLAY and EPLAY. These tokens can be used to reroll their losing bets. However, the odds of winning and payout remain unchanged while they are rerolling. This means anyone holding these tokens will have an objective advantage while playing on the new platform giving them a solid use case and real value.
The DApp consists of various options for players with positive NPLAY or EPLAY token balances like rerolling losing bets against the house.
To overcome the drawbacks of generating random numbers in existing dicing games, Neoplay has implemented a leading solution called random.org [RO]. RO is a strong source for providing a high level of randomness for a crypto-based gambling platform.
The application directly incentivizes users to use and buy NPLAY and EPLAY tokens however they are completely optional to play on the Neoplay platform. Tokens spent on rerolling will be permanently burned forcing users who want to keep their advantage to purchase more tokens from those lucky enough to be crowdsale holders. This will result in upward price movement.
The Reroll Mechanic
The Reroll Mechanic is exclusively built for Neoplay’s sister smart-contracts. It has several exciting features for its players. It allows the users to win their lost bets against the house in exchange for Neoplay’s native tokens. Depending on the blockchain user selects, the reroll will cost them either in NPLAY or EPLAY.
Neoplay also allows the player to suspend their loss if the user is holding the respective token, they can then choose to reroll the loss and try their odds or play on without spending their precious tokens. When the user decides to reroll, the tokens will be permanently burned by the smart contract and the previous bet will be rerolled. If the user wins, their winnings will be credited to them immediately.
The main aim of the team was to develop a risk-managed project so that investors can contribute without the worry of crypto’s dramatic volatility. To help facilitate this, the Neoplay team developed two tokens with identical functionality that operate the same way when they are invoked by the user. They developed an Ethereum equivalent to the NEO smart contract alongside an ERC20 [Ethereum based] token. NEP5 compliant NPLAY token and ERC20 compliant EPLAY token are both functionally identical and rerolling can be done with both the tokens.
Both tokens will be burned permanently after rerolling on their respective blockchain from their own respective total supply pool.
Neoplay Token Protocol:
Both EPLAY and NPLAY will be initialized as ERC20 tokens on Ethereum blockchain.
By using Neoplay’s smart contract, users will have the option to convert ERC20 NPLAY tokens into NEP5 NPLAY tokens with their Application Programming Interface [API] on a secure blockchain post crowdsale.
The initial NPLAY tokens will be initialized as ERC20 tokens to allow free exchange of tokens during the crowdsale.
Using NPLAY and EPLAY tokens, the users can immediately reroll without any further input from token holders.
There is a streamlined process of linking the wallets of ERC20 NPLAY in ERC20 wallets to input their NEP5 supported wallet addresses. This can be done through a third party application.
Further transactions will be processed automatically on the NEO blockchain by crediting the user with the same quantity of NPLAY [NEP5] tokens they had initially used.
The crowdsale participants will be given complete freedom to trade their NPLAY and EPLAY tokens.
Both tokens will be credited to all the crowdsale participants.
Crowdsale Chart of Neoplay
Neoplay has completed the development phase and the testing phase of both NPLAY and EPLAY which includes their smart contracts. The smart contracts are relatively simple and straightforward leaving little to no room for critical bugs. The team has planned to include additional gambling related games and further integrate Neoplay tokens by the final quarter of 2018. The full launch of both gambling contracts (NEO and Ethereum) will go live in the second quarter of 2018 following 2 full audits. All of these details are outlined in their comprehensive whitepaper.
With the advantage of NEO and Ethereum’s development tools, Neoplay is positioned to become one of the biggest opportunities in crypto for investors in crypto today. The relatively small market cap of the projects crowdsale is also a massive advantage for crowdsale contributors as their initial investment can easily multiply as the project is released. The Neoplay team will be constantly working towards the enhancement of the existing features and the development of new ones. NPLAY and EPLAY will be at the center of future gambling related projects and will be continually incentivized. The teams’ ultimate goal is to develop the online gambling industry into the future smart economy NEO was designed for.
Their highly anticipated crowdsale will go live May 5th, 8:00 PM UTC where all crowdsale contributors will receive both of Neoplay’s native tokens. There will be a +50% first-day token bonus for all those who contribute within the first 24 hours of the crowdsale.
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