Cryptocup integrates DAI and Kyber Network to launch a stable prize pool game
Today Cryptocup, a sports prediction game on the Ethereum Network, announced their integration with DAI (ERC20). MakerDAO’s Dai is a crypto-collateralized USD-stablecoin.
Cryptocup is revolutionizing the dapp industry by being the first-ever blockchain game with a stable prize pool. Cryptocup will be accepting DAI or converting ETH into DAI through KyberNetwork in their game.
This will make DAI the first ERC20 to be accepted in our current and upcoming games. We believe this is a huge improvement for our prize pool games as it will avoid the fluctuation from ETH.
How does it work?
It doesn’t change much for our users in terms of playing the game, but now players will be able to both pay with ETH through Metamask, and directly in DAI.
Every time someones pays in ETH, we will convert them into DAI to feed the pot. The conversion will be done through KyberNetwork, a decentralized exchange. The Smart Contract will keep all the funds in DAI as to avoid volatility.
At the end of the tournament the top 10% of the players will get their rewards in DAI to their wallets.
Why did we decided to make this integration?
Well, because one of the biggest user concerns is the risk of the prize pool, considering the unstable ETH price. At the same time, if the price to play on our smart contract is fixed through ETH, tokens can become really expensive making the game less accesible.
By using DAI we can solve both of these issues, with a stable prize pool as well as offer our users a fixed entry price in USD.
Our goal as a team is to keep improving the game and offer our users a great experience.
What else can we do?
By 2019, we expect to have a multi-gaming prediction platform not only for sports games but other competitions as well. Users will be able to find different game options and build own leagues for private tournaments among friends/colleagues.
If you have any ideas, suggestions or advices, please let us know:
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