CoinRacing CRX

The first decentralized casino based on games that put the performance of crypto coins to the test.

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Summary

• CoinRacing was born as a game of crypto coins (race) based on their price, everything runs within smart contracts, every race is a smart contract. The races last 10 minutes and a participating ticket can be purchased at a determined cost from stable coin; the total locked-in value is distributed among the participants in the winning pool; the governing contract charges a 10% commission on each race.
• The whole commission pool is distributed in its entirety among the holders of the CRX coin who have their tokens locked-in the governing smart contract.
• The goal is to create a totally decentralized protocol so the governing organization can deploy races and other games; and the users can have fun and win money betting on the races in a safe and honest place.

The game

CR is a racing game with a duration of 10 minutes. A game can be a bull race or bear race, respectively. Each race is a smart contract that manages an investment pool for each coin in play. A race has three stages:

In Wait

The Smart contract has to have a minimum number of participants in order for the race to start, and while the race is on hold the participants can purchase participating tickets for the pool that supports the race. When the minimum number of participants is reached the race gets underway. Every participating ticket has a determined price on StableCoin. For example, 10 USDT.

Starting

The contract takes the current timestamp and the price of the competing assets through a decentralized exchange. The user’s interface shows an animated race getting the prices in real time during the ten minutes, however, the contract only takes two prices, the initial one and the final one. During this stage more participating tickets cannot be bought.

Ending

When finished, the contract compares the prices of the participating coins and it decides the winner. The total locked value (TLV) is distributed among the participants of the winning coin depending on the number of participating tickets and the total of participating tickets. Before distributing the prizes, the governing contract charges 10% of the TLV (which is distributed among the CRX holders.) The participants of the losing coins lose the value of their tickets. The participating winners collect their prize at StableCoin.

Tokenomics

In the launching of the token public wallets will be generated to reserve the amount of corresponding tokens corresponding to each category. Every wallet address will be shown on the web in order to promote transparency with the project’s financial moves.

The private sale will have the following characteristics:

• 10 million tokens on pre-sale
• Price of 0.01 matic per token
• Airdrop of five million tokens to the pre-sale buyers
• SoftCap: 50k MATIC
• HardCap: 100k MATIC

The payment of rewards in tokens to the stakers of LP tokens will generate the required market for the public sale. The starting price for public sale will be 0.03 matic per token.

The quantity of circulating coins on the market will be 45 million tokens. The monthly sale of tokens will be made only from the development and marketing categories for the continuation of the project.

CRX the governing token

CoinRacing is the first decentralized casino in the block chain that will distribute the profits generated by the bets on the games of the platform between the CRX token holders.

There are two forms with different APY’s for obtaining profits in StableCoin USDT:

• Doing staking of the tokens on the platform.
• Doing staking of liquidity provider tokens (larger APY.)

The profits generated by the commissions of each race will be distributed entirely among the holders who are doing staking.

The future

Market of NFT’s

NFT’s with profit multiplier functions or wild cards within the game; Non-fungible tokens will be sold in an internal market of the platform and can be traded: within the platform or in an NFT’s market, like OpenSea.

Decentralization

Just as the profits are distributed among the holders of CRX tokens, in the same manner they can decide over the new capabilities of the platform and make decisions about its future through a Decentralized Anonymous Organization (DAO). Currently, the races will be managed by the core team, advised by the community in Discord or Telegram. In the future there will be a meeting with the community to find the most efficient way of generating the decentralized system to create games.

Life phases of the project

1. Pre-sale of tokens.
2. Awards platform for liquidity providers .
3. Creation of market and public sale.
4. Airdrop for pre-sale buyers before the launching of product.
5. Product launch in blockchain Polygon and commission distribution system for CRX holders.
6. Decentralization of the creation of races.
7. Development of new games.

Community

Follow us on medium platform and our social networks to stay updated about event dates and news.

Twitter: https://twitter.com/CoinRacingIO

Telegram: https://t.me/coinracing

Website URL: https://coinracing.io/