Polker (PKR) is a new entrant in the crypto-currency-poker sector, designed to be compatible with 22 cryptocurrencies including its native token – PKR. This online casino is aimed towards allowing participants to play with several cryptocurrencies without converting their holdings to one supported cryptocurrency. It has developed an innovative model for the creation of a fair gaming environment, implementing the True Random Numbers model.
The PKR token is built on the ERC-20 token standard and is deployed on Ethereum’s Mainnet. The token will be primarily used to:
- For the acquisition of Rakeback bonuses.
- As a reward for participating on the platform.
- To purchase non-fungible tokens from other participants.
- For betting and gameplay.
- For absorbing transaction fees at discount rates.
Features of Polker:
- Polker has an integrated cryptocurrency backend that will allow players to easily convert cryptocurrencies they win from other participants to their preferred cryptocurrency.
- Participants can use the native PKR token to purchase game character assets and store items as well as to increase discounts and Rakeback bonuses.
- Polker possesses a centralized wallet architecture capable of supporting several cryptocurrencies enabling seamless deposits, withdrawals, and escrow abilities.
- Polker’s public-oriented gaming platforms enable participants to log in and feely choose from a wide variety of games.
- Polker’s API interfaces its backend system with smart contracts to provide critical information like real-time pricing. It accurately relays off-chain pricing data straight to the on-chain smart contract.
- Polker’s blockchain can be thoroughly audited by all players.
- It allows participants to create NFTs based on an in-game story and quest system which promotes interaction.
Polker IDO – Recent Developments
Polker hosted their IDO recently, which did not come without its share of incidents. Their IDO and token sale event were held on June 25th. At around 4:00 pm ETC, the Polker team started to add liquidity on Pancakeswap, Uniswap, and Justswap. The process took about 15 minutes for the creation and verification of pools. While this happened, the Polker team sent out their launchpad participant tokens, starting around 4:18 ETC and lasting for just a few minutes.
An unfortunate event occurred during Polker’s early pool formation. A single wallet purchased about 1.7 million PKR tokens. The tokens were moved across an unsecured Ethereum-BSC bridge and were sold in the liquidity pool of Pancakeswap. To avoid incidents of “botting” and “sniping”, the team behind Polker intended to close the Ethereum-BSC bridge for at least 30 minutes after launch.
In this case, however, Polker’s provider failed to close the bridge. This allowed the funds to move unabated. The team has repeatedly made statements that no insiders have been distributing tokens or have unlocked them as per their token terms and conditions. These accusations have also been disproven by independent audits. To focus more on token security, Polker has introduced a token buyback program, a token burn event, and airdrops. Polker also plans on releasing their closed beta ready to play by mid-July.
Despite these measures, community “fudding” and shilling continues. Co-ordinated efforts of botting to dump Polker continue on social media platforms after the incidents. Analysis has revealed that there was a surge of about 500 to 1000 botted members. The team behind Polker has worked extensively to remove “fudders” and “shillers” from the network.
The last several years have seen the exponential growth of the online gaming and gambling market, with analysts expecting it to produce $127 billion in revenue by 2027. However, the market has been plagued with issues like fraud, illegitimate withdrawal policies, and cheating from either the participants or the house. Polker aims to achieve limited token support and “provably fair” gameplay by offering a patent-pending, online poker game with no house edge. Their approach aims towards a wider acceptance and appeal to both the crypto and gambling communities.
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