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EDG is a utility token used in the Edgeless casino. It is the casino's branded gaming currency and is one of the top altcoins on the Ethereum blockchain.
You can buy EDG tokens on one of the exchanges:
The EDG token is used for bankroll staking. It is a new feature available to EDG token holders, who can participate in Edgeless bankrolling by staking their EDG tokens.
- Register & Deposit. Citizens of the US are not permitted to stake.
Participate in a staking round. Tokens are locked and can’t be redeemed while the staking round is in progress.
Redeem bonus or stake again. The staking bonus depends on the growth of the bankroll, which differs at the end of each round.
Benefits of using EDG tokens for staking
- Fixed amount of EDG Tokens. Due to the limited about of EDG tokens, staking is the only way to increase the bankroll.
- Loyal players. Edgeless players become more engaged as customers after participating in a staking round.
- High Stakes Betting. A larger bankroll increases betting limits within the platform enabling higher stakes betting.
Staking uses an emerging ‘smart-contract’ technology
This technology is so new that most pioneering companies are only beginning to understand the best ways to utilise ‘smart-contracts’, and that includes Edgeless. The Blockchain industry has the largest number of hacked or infected projects in comparison to any other industry. Due to the nature of this technology and the blockchain industry as a whole, Edgeless staking is at a higher risk of hacker attacks.
There is volatile element involved in the casino’s bankroll.
The casino doesn’t win every day, this is especially so in Edgeless' case as it offers 0% house edge skill-based games. Therefore, when staking, participants take a risk. Although it is highly unlikely, at the end of a cycle there can be a bankroll deficit.
The Edgeless platform is based on the ether blockchain and develops the idea of creating a decentralized online casino.