Poker Finance (PokerFi) is a project that aims to provide innovation in financial transactions within online and live poker. As almost the entire poker industry does not use financial transactions in cryptocurrencies, PokerFi brings knowledge of the cryptocurrency universe to poker players.
PokerFi is a token linked to the BEP-20 network, the Binance Smart Chain. The smart contract has an innovative system of earning passive income proportional to the number of tokens the wallet has paid in dollars. You can buy and store PokerFi in your wallet, and for each transaction made, you would be paid a fee of 6%, where 3% is automatically distributed every 12 hours to all wallets that have more than 35,000 coins.
PokerFi was created based on three improved pillars, which are:
- Improved decentralized finance: PokerFi holders do not need to stake their coins to earn income as this is already done automatically by the smart contract in just having the coins in the decentralized wallet paid in dollars. The more transactions occur using the coin, the higher the passive income the contract pays.
- Improved deflationary mechanism: PokerFi holders who want to earn only from the dividends do not need to sell their coins to make a profit. They would already receive their earnings in dollars and thus does not affect the PokerFi chart using the strategy of withdrawing their earnings.
- Poker games: A utility coin. PokerFi will be used on its own poker platform where it will only be used to pay for tournament registration, cash game entries and purchases within the marketplace and nonfungible token site, which are all tied to the blockchain.
The PokerFi token will be used as a means of payment in transactions during poker games, be it tournaments or cash games. Poker is a billion-dollar-a-year community and we will be working to make some of these transactions possible on PokerFi.
How do the developers plan to make this happen?
We are developing our online poker platform, where the programming area is already being tested. We will have a PokerFi wallet and there will be an exchange for PokerFi peer-to-peer transactions on that exchange.
The payment of the registrations in tournaments and cash games will be in PokerFi but the distribution of the prize in Binance USD (BUSD), a stablecoin of the Binance dollar. We will also market PokerFi products. 10% of all income generated through raking, the marketplace and NFTs will be distributed to the holders and paid in BUSD.
Why will poker players play on the PokerFi platform?
We are developing a platform of good playability with the best rakeback offer. As the concentration of the company’s profits is on the transactions of the currency that will be used as a means of payment, we can provide the best freerolls for the same reason and we will give utility to the money of cryptocurrency investors. They can use their crypto balance and buy PokerFi to enjoy playing on our poker platform, which will be linked to the blockchain.
Renato Maia, CEO of PokerFi, said:
“I first encountered poker 10 years ago on a trip to Lima, Peru. My friends were playing in their hotel room using matchsticks for chips. I immediately became interested in the game and sat down with them to play. When I returned to my hometown, I immediately went to study poker online. I got to know PokerStars and some free schools and studied for a few days very assiduously. At the time, poker in my hometown was a very small community, but I found out that they were already holding freeroll tournaments at the two biggest poker clubs. One Monday, I went to my first live tournament and with about 60 entries, I came in first place. The next day there was another freeroll at another poker club. I went there, and with about 70 entries I made a heads-up deal.
I focused even more on my studies immediately after. I managed to get hired by 4bet Poker Team where I was the champion of a Low Scoop event and other results. When my contract with 4bet ended, I dedicated myself to a solo career and have been an instructor for years. I am currently a partner and instructor of the Action Team.
I’ve been a cryptocurrency investor since 2016.”
cointelegraph
