Introducing Nuklear’s Staking System
Nuklear is a deflationary token that was created to be utilized in the new PVP gambling platform without a house edge. The gambling platform will be operative in the Q1 2020. That is, in the first three months of the year.
Nuklear’s gaming platform users will have absolute control over the percentage bet. The gaming system will thus have a Zero percent house edge.
To fast-track the growth and development of this token over time, another fundamental incentive will be accrued to the 100 largest token holders.
Description Of The Staking System
The token created by Nuklear is in the class of its own as far as deflationary tokens are concerned. That is why it has come up with an initiative that allows staking for the 100 largest holders of Nuklear tokens.
How this will work: for each transaction realized by Nuklear, a 2 percent fee will be charged. That 2 percent deducted from the total amount will then be split into two directions.
FIRST: 1 percent of that fee will be burnt to decrease the supplyand simultaneously increase the scarcityof the token.
SECOND: 1 percent will be returned to the smart contract address and it will be redistributed to the 100 largest token holders.
In addition, on the last day of each month, the data of the 100 largest token holders will be gathered. The next day dividends will be sent to the first 100 addresses containing the total amount of token that has been received the previous month.
The “Assignment and Distribution” method of the collected token from the previous month will be totally transparent.
What Are The Benefits of Staking?
Staking serves as an encouragement and a motivation for users to purchase as many tokens as they can in order to enter into the TOP100 largest token holders and conquering the right to receive dividends.
In addition, through the Top100 largest token holders, the price solidity of the project will be higher. Solidity will be achieved through the amount of token purchased by the Top100. Consequently, this lead to reduce the number of tokens in circulation.
Basically, the more Top100 largest holders buy tokens with the purpose of increasing their ranking, the smaller number of tokens that will be in circulation.
What Is The Concept Behind Nuklear?
Nuklear has come at the right time: it has been exactly launched when became necessary to understand how deflationary features of cryptocurrency can affect currency. For this reason, NUKlear system combines characteristics of a deflationary and distribution token.
Deflation, as we are all aware, occurs when there is a steady rise in the purchasing power of a particular currency or when the prices of goods and services reduce over time. When there is a deflation in cryptocurrency, some percentage of it has been burnt or they’ve been destroyed on each transaction, with the sole objective of increasing its value.
The deflation in cryptocurrency creates a scenario of scarcity. This increases the value of the cryptocurrency.
Nuklear is an Ethereum-based (ERC20) deflationary token that always burns about 1 percent of the transfer amount from each transaction and another 1 percent that has been staked. This is distributed to the Top100 token holders each month.
The limited amount of the Nuklear token in circulation, which is about 10,000,00 NUK, begins to shrink in volume due to burning and distribution effects.
In addition, Nuklear token is created based on a self-destructing token, it incorporates a new characteristic, which is referred to as “Dividend Distribution.”
The purpose of Nuklear system is to come up with PVP gambling games that will utilize the Nuklear token. For this reason, the NUK coins will constantly explode or self-burn. Inevitably, this creates a situation where there is a boost in the use of NUK, and the exchange value also increases. The PVP gambling game is aimed to provide a 2-in-1 benefit.
Nuklear PVP Games
PVP = Player versus Player. These games are video or computer games that allow two people to compete among themselves as opposed to a human competing against a computer. The web gambling game developed will allow a fair competition through the equal chance to win for both players: 50%-50%.
This system is different from other gambling games that only permits to play versus a computer. In that arrangement, the computer’s chances of winning are higher.
More burning of the token and staking will be facilitated owing to the feature that allows for more transactions between users.
Features Of The Nuklear Token
The Nuklear token has the following features:
- The Nuklear token is deflationary with each transaction.
- Its smart card is verified.
- No new token creation.
- Allows dividend token to Top token holders.
Nuklear Token Supply And Distribution
The amount of Nuklear token in supply is 10,000,000 NUK. A total of 1 percent of that amount is burned whenever 10,000,000 NUK is transferred. Also, a total of 1 percent is staked and to be distributed to the top 100 largest token holders at the end of each month. This is done whenever 10,000,000 NUK is transferred.
Why Distribute Dividend?
The distribution of dividends was necessitated due to the issue of token velocity. Token velocity is determined when the total transaction volume is divided by the average network value.
Mathematically to increase the network value and boost self-burning, the total transaction volume will be divided by the token velocity.
To Wrap It Up
Nuklear gambling game is bringing transparency and fairness into how gambling games are conducted. With its PVP model where both players have an equal opportunity to win, more and more players will participate.