Edgeless bankroll staking details revealed

Edgeless bankroll staking has been the goal and aspiration from the very beginning of Edgeless' inception and all partners and token holders saw it. It took a long time, there were many legal questions and Edgeless carried out a lot of testing to find the best solution for both partners and token holders. Edgeless is pleased to announce that staking will start on the 4th of December. First Edgeless will start with a beta version of the staking platform, this version will contain most of the major features. Later Edgeless will generate the first real feedback on how the system is working and what should be improved.

Why a decentralized casino needs staking

There is a limited amount of Edgeless tokens (a total of 132,046,997). It is not possible to create new tokens or delete existing ones . In the near future Edgeless’ players base and betting limits will increase, calling for a larger total bankroll to sustain the growth of the entire system. To make sure the bankroll is always sufficient, Edgeless needs a mechanism which enables the community to support the growth of the bankroll.

How Edgeless staking will work

The bankroll staking feature is based on blockchain smart-contract technology. Smart-contracts allow for effective ways to organize Edgeless’ bankroll crowdfunding, which was never possible before.





Reward offered in the 1st staking cycle: 5% from the bankroll surplus. Stakers get a part of the reward proportional to their initial number of EDG tokens staked.

Here is an example of how it works:

Let’s say there are 50 staking participants. Each participant stakes 2000 EDG tokens. In total there are 100k EDG tokens staked. That means each participant owns 2% of Edgeless’ bankroll.

100k EDG tokens are sent to Edgeless’ bankroll for a 28-day cycle. After 28 days Edgeless’ bankroll has a surplus. Let’s say the bankroll size is 160k and the surplus is 60k. 5% of the surplus is 3000 EDG. 3000 EDG tokens will be distributed to staking participants.

Staking participants can redeem their initially staked EDG tokens which is 2000 EDG + 2% from 3000. In total that’s 2000 + 60 = 2060 EDG tokens after a 28-day cycle.

Due to uncertainty in the US in regard to the regulation of tokens, for now this feature is not available to US citizens.

Key dates:

2018-12-04

The initiation of staking. People who would like to participate in Edgeless bankroll staking will need to register, complete the KYC process and make a deposit. All related information about staking, the main website, detailed terms and conditions, and deposits will be announced at the beginning of December on Edgeless’ blog (www.edgeless.io/blog) and on the company’s Twitter, Facebook and Telegram pages.

2019-01-01

Registration and the possibility to make a deposit will close on the 1st of January. On this day all gathered EDG tokens from 2018-12-04 to 2019-01-01 will be sent to the bankroll smart contract.

2019-01-29

The smart contract system will automatically check whether Edgeless’ bankroll has a surplus. If there is a surplus, a smart-contract will then automatically take 5% of the surplus and distribute it to the wallets of the people who participated in bankroll staking. Once the cycle is finished participants will be able to redeem their tokens and participate in upcoming cycle.

If you have more questions on staking please write to [email protected] Our team will be happy to answer all of your questions.

A sneak peek at the beta version of the staking platform


More information on staking from Tomas.

About Edgeless

Edgeless is a growth-stage revenue generating company. It has a Curaçao license which allows Edgeless to operate in most countries.  

Proof from the blockchain: https://etherscan.io/address/0x91f273b7A28F5169FD7B7995A54B767cA797BC63  

Currently 10 thousand users are registered on the Edgeless platform and collectively these users have wagered more than 100 million EDG tokens on Edgeless games to date.  

Stay tuned for more information.

Important note:

The bankroll staking model is created to factor in recent legal developments in the crypto sector. Similar staking mechanisms are used by other crypto projects. 

The Edgeless team follows all legal developments and, if needed, in the future there will be changes made to the principles of staking so that our activities will be in line with regulations. 

The EDG token is a UTILITY token. It has no profit sharing, dividends or any other features associated with securities.

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Latest comments
May 28, 2019 12:04 PM
From Edgeless: Thank you for participating in this competition. Before announcing the winners, we want to remind you the rules of this contest. To win for the player, it was necessary to do:- From the 20th of May 2019, deposit 300 EDG or more in one go and play Edgeless Dice. The deposit could be done with EDG, BTC, ETG, XRP, BCH, EOS or any of the other top 170 cryptocurrencies. - Till May 27, at 10 AM GMT +0 write his Edgeless username/ nickname + share your biggest win made with one roll in the comments section under this post. After reviewing all the results, who made a deposit and shared the biggest win, Edgeless would like to announce two winners - Boxter and Pandaontherock. Other participants of this contest did not deposit 300 EDG or more. Boxter and Pandaontherock will share the prize pool of 500 USD. Boxter will receive 65% of the pot, Pandaontherock will receive 35%. More information for winners will be send through emails.
From Edgeless: Thank you for participating in this competition. Before announcing the winners, we want to remind you the rules of this contest. To win for the player, it was necessary to do:- From the 20th of May 2019, deposit 300 EDG or more in one go and play Edgeless Dice. The deposit could be done with EDG, BTC, ETG, XRP, BCH, EOS or any of the other top 170 cryptocurrencies. - Till May 27, at 10 AM GMT +0 write his Edgeless username/ nickname + share your biggest win made with one roll in the comments section under this post. After reviewing all the results, who made a deposit and shared the biggest win, Edgeless would like to announce two winners - Boxter and Pandaontherock. Other participants of this contest did not deposit 300 EDG or more. Boxter and Pandaontherock will share the prize pool of 500 USD. Boxter will receive 65% of the pot, Pandaontherock will receive 35%. More information for winners will be send through emails.
May 26, 2019 9:03 PM
my nickname - TinyQueen104 , biggest win +1960 EDG
my nickname - TinyQueen104 ,  biggest win +1960 EDG
May 25, 2019 4:45 PM
My nickname is HotPulp52, biggest win +4900.00 EDG
My nickname is  HotPulp52, biggest win +4900.00 EDG
May 25, 2019 12:28 PM
Hello! My nickname is WisePrince3845. Biggest win +3458.42 EDG
Hello! My nickname is WisePrince3845. Biggest win +3458.42 EDG
May 25, 2019 5:20 AM
+695
+695
May 24, 2019 1:16 PM
Hi. My nickname is FastPie714. Biggest win +1376.90 EDG
Hi. My nickname is FastPie714. Biggest win +1376.90 EDG
May 24, 2019 12:08 PM
my bigest win is 300 edg my nickname is GreedyHorse41v
my bigest win is 300 edg  my nickname is 
GreedyHorse41v
May 24, 2019 11:26 AM
My nickname is Boxter. Biggest win +245 EDG
My nickname is Boxter. Biggest win +245 EDG
May 23, 2019 3:10 PM
My nickname is Pandaontherock. Biggest win +45.27 EDG
My nickname is Pandaontherock. Biggest win +45.27 EDG
May 20, 2019 1:30 PM
Here’s example: Hi. My nickname is User12345. Biggest win +300.80 EDG
Here’s example:

Hi. My nickname is User12345. Biggest win +300.80 EDG

Join Edgeless community and grow together

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