Will you continue to offer traditional ‘real money’ betting?
Yes. In regions where we offer FIAT betting we will have a state change, where users can choose FIAT or Crypto prior to accessing services on the site. Introducing state changes is necessary for a few reasons being, we have assigned a risk pool of tokens to payout on winning bets and the system to manage that is different from those used with fiat systems. In some cases, based on our betting volumes on the cryptocurrency platform we would need to publish different lines and pricing movements for our markets than those published on the fiat state. Another reason is the correlation between the turnover of crypto betting and benefits on the platform such as, but not limited to claiming UnikoinSilver.
In addition to the above, we plan on releasing blockchain projects on the cryptocurrency state. Our vision is to further heighten the excitement, interaction and experience for the community during live spectator matches and where possible, create ways that not only let you win but earn UnikoinGold and UnikoinSilver through participation. We also plan on allowing UnikoinGold for the purposes of skill betting in as many regulated markets around the world as possible.
From an operational and development viewpoint, a cryptocurrency platform lets us scale faster into more regulated markets as the effort to build for multiple currencies and integrate with the financial systems that underpin them diminishes.
Unikrn has raised money in traditional investment rounds from various well known investors. Why are you doing a token sale?
Unikrn saw a lot of potential in converting our Unikoin into a cryptocurrency. About two years ago we created the Unikoin to allow global participants to watch all the top esports matches in the world and place bets using our world class betting platform. One of the bigger requests we’ve had from our users is adding more value to the Unikoin, on top of the raffles platform we already offer.
The reason why we are doing a token sale is because we’re launching two completely new platforms on top of our Unikrn IO betting platform. We will expand beyond Australia and the UK for UnikoinGold betting, and we will also allow more betting operators to license our entire platform which includes risk management. This will ultimately allow customers in more regions around the world to live bet on tournaments, and also bet on themselves in skill based challenges.
While Unikoins have been successful in engaging and retaining customers, upgrading this virtual currency to a cryptocurrency will dramatically increase usage and utility.
How are you different than the competition? There are other gaming and esports oriented cryptocurrencies out there.
We believe that a lot of the companies running token sales have it backwards. They raise money to build something. We have been actively building and improving for the past two years. We believe our token should have value and that users believe in the company that is backing the services to provide the best products and services. In fact, our own virtual currency and platform for it, was already a big success.
As for further differences between Unikrn and others: Unikrn is a real company with a tested and working platform. We built the most comprehensive esportsbook on Earth, and we are constantly improving our platform. We create content for the community, run tournaments, we own a significant stake in one of the best CS:GO teams in the world. We operate Leet which has a series of contracts with casinos around North America to setup esports experiences on their properties. We even own a stake in Maingear Computers, a company that will eventually play a role on premise in casinos. We all share a growing community of users, we co-market and collaborate on our growth.
Unikrn strives to bring the best services to people whilst also complying with legislation and have the right licenses so that our users are never at risk. The competition section of our whitepaper goes into more detail about this.
ABOUT THE UNIKOIN
Why is cryptocurrency a logical next step for Unikoin?
Since we created Unikoin we have been testing the efficacy of our esportsbook and raffle platform. We have let our users know that eventually there would be a “reset” once we finished our pilot, and that we would clear the economy and start over.
The creation of UnikoinGold coincides with a skill-based betting product that will be legal in most of the US and other markets in the world. We will still offer fiat betting where we are regulated and licensed, and our new UnikoinGold platform will be another option for those users. Users automatically earn UnikoinSilver when they bet with UnikoinGold, and UnikoinSilver can also be earned in other ways. UnikoinSilver can be used to purchase raffle tickets, and many casino operators are also looking to integrate UnikoinSilver to attract and retain new customers on their properties.
We aim for Unikoin to become a standard token for the esports and gaming ecosystem, backed by Unikrn - a company that holds integrity and complying with legislation in high regard.
Will I be able to trade my UnikoinGold (UKG) on Cryptocurrency Exchanges?
Yes. This is very much the idea and it will go hand in hand with many of our future services. We will be actively pursuing exchanges to list UnikoinGold. It is a core aspect of our vision for this token.
Will I be able to purchase UnikoinGold through the Unikrn Platform?
Yes, we will link to major markets and allow users to easily purchase UnikoinGold to participate on the platform.
How will you deal with the increase of cost per transactions considering that UnikoinGold is an Ether-based ERC-20 token?
In order to offer live betting at high speed while keeping transaction costs low, there won't be any blockchain transactions taking place when interacting with the Unikrn Platform. Only when you deposit to or withdraw them from the platform.
What are you planning to create in terms of products and services in this new platform?
A few examples include skill-based wagering, betting, gambling, raffles, a new viewing experience and more community driven decentralized applications to allow users earn UnikoinGold while adding value to our platform.
When will this platform be ready for use?
First services and products within the cryptocurrency platform will be ready within three months of the token sale. By end of this year, you will be able to put your UnikoinGold (UKG) to use. For more information, see page 9: Roadmap.
Who will be able to use this platform? What countries are you primarily focusing on?
North America is the next large market we intend to pursue. Eventually we anticipate expanding to Asia, which will require investment in localization, and a big emphasis on UnikoinSilver. See our roadmap for a view of our planned development. We will continue to iterate on the roadmap in the coming weeks.
Is it legal to bet on a skill game using UnikoinGold?
Where can I track the value of my UnikoinGold? (Which exchange, etc?)
All the major cryptocurrency exchanges will eventually list UnikoinGold; you can see up to the minute values on our website or any of the exchanges where our token trades.
How do I store my UnikoinGold? Are there any best practices to follow?
Storing UnikoinGold on a local wallet will require knowledge of Ethereum. Many guides to storing the tokens locally can be found online, but we will also publish a best-practices guide ahead of the token sale.
Can UnikoinGold be sold for traditional currency e.g. US dollars?
Like other ERC20 tokens, UnikoinGold will eventually be traded on all the major cryptocurrency exchanges where they can be traded for fiat or other cryptocurrencies.
How is this different to Bitcoin?
UnikoinGold is an ERC20 token built off the Ethereum blockchain. One functionality of Ethereum is the ability to build custom tokens for specific user needs; these tokens follow the ERC20 token standard and give their creators the ability to add features of blockchain technology to their existing product. Bitcoin is used as a virtual currency or store of value, but is unable to host the creation of ERC20 tokens.
Can other businesses within the esports community use UnikoinGold as a method of payment, etc?
It’s absolutely possible. UnikoinGold is a token built on the ERC20 protocol. Anyone who wants to use it as a trading token can. As part of our roadmap, we plan to open our platform to other major operators.
TOKEN SALE MECHANICS
Why is Unikrn only selling 20% to the public to start?
Our priority is to our users and our community so we are locking 15% of our tokens into a risk pool. The risk management pool is something required in order to accept odds based betting against the house. In order for us to expand across regions we want to offer a complete platform for major operators around the world, and the risk pool is key to making this happen. We believe that 20% is more than enough to feed our community and retain strong value in the token.
Does that mean I will have to verify my account on this new Unikrn platform to put my UnikoinGold to use?
If you want to use your UnikoinGold on the Unikrn platform, yes. You will have to verify your account. As we have mentioned often in this FAQ, integrity and legal compliance is very important to us and we strive to legitimize every aspect of competitive gaming.
Which wallets will work?
MyEtherWallet works well. We also recommend hardware wallets such as the Trezor. As long as your wallet supports ERC20 tokens you’ll be able to hold our token in it.
Can U.S. residents participate?
US residents may register for the presale. We will start taking orders for tokens once our regulatory review is complete.
Why am I required to sign a message?
As part of KYC we have to verify that you own the ethereum address with which the tokens will be associated.
Will I be able to purchase tokens on the July 15th?
No, on July 15th we are just accepting registration for the Presale. This includes verifying some information as per KYC regulation. We are still working out the specifics of the coin pricing and legal aspects.
How do I qualify for the presale?
The purpose of the presale registration is so we can gather more information in terms of how many users want to purchase tokens and how much they’d like to purchase. Once we gather all the numbers we can determine a fair process for qualifying. Do note, our intention is to support our community and drive value to UnikoinGold. We want to make sure we get the widest distribution possible.
How will I get notified when the token sale opens up to the public?
Register at unikoingold.com and follow us on our official social media channels to stay up to date on major announcements about our token.
Will Unikrn accept UnikoinGold as a deposit method in Australia or the UK for real money betting?
Yes. We currently plan to offer an exclusive token betting platform in regulated markets across the world for spectator betting.
What is Cryptocurrency? Ethereum? What is a token? What are you talking about?
There have been several useful articles written on the basics of cryptocurrencies, ethereum, and tokens. Here is a link with several helpful articles.
INTEGRITY AND COMPLIANCE
Will the anonymous and decentralized nature of cryptocurrencies allow users to bypass betting laws?
No. Unikrn will not bypass regulation in any way. We will actively pursue to make our services available to everyone. However, we stand very firm on that we do not allow for any illegal betting activity. We are working with our partners and our own team of legal advisors to ensure we have the right protocols in place to comply with local regulation.
What is all this talk about integrity and compliance?
We will never give into greed over integrity. We are actively working towards legitimizing the esports betting ecosystem and to provide products and services that comply with rules and legislation. There are a lot of opportunists and scam artists in the esports ecosystem that have taken advantage of the gaming demographic, for example, allowing minors to gamble with skins or to fix matches for their own benefit.
(See also our Whitepaper: Competition & Skin Betting Scams).
We take a firm stance against this type of behavior and actively combat it. You can read more about this by looking at our own Competitive Integrity Certification Program and the Esports Integrity Coalition (ESIC - http://www.esportsintegrity.com) of which we are a part.