, an online gaming platform, which embraces the advantages of smart contracts, has received their first dividends and managed to pay out winnings which totaled to over $50,000.

First payouts

The first round of payouts took place on March 28. The total amount surpassed 50.31 ETH which was distributed among 120 partners and platform testers. Out of this sum, approximately 23 ETH covered the funds lost by players, and 27 ETH - the bonus from the developer for testing the functionality of dividend payout and upgrading the final version of platform’s smart contracts.

Participation in the promotion of the project was rewarded as well. Users received 1,000 to 5,000 RLT tokens for a period of 30 to 60 days.

Even though the amount of the first round of payouts was relatively small, meaning that a tester or a partner received $0.20 to $0.55, it is important to note that payouts were directed to those users who were holding platform tokens in the amount of at least 1,000 RLT/ $75 (at the exchange rate 1 ETH=$50). Which equals to two to three percent of the minimum turnover of the platform and payouts of dividends every five to eight days. On April 7, starts the second round of payouts, which will amount to approximately 50 ETH to be distributed among 160 users.

What’s coming next

The project is growing, team has shared with Cointelegraph what has already been done. The launch of the project comprised a few phases. The team embarked on an ICO with goals mainly focusing on the advertising campaign, launching an affiliate program, promoting the RLT token into exchange market, and advancing graphic interface of the games. Active advertising campaigns of the project have been launched on more than 270 cryptocurrency-related websites. The Devteam has managed to significantly reduce the random number generation process and built the prototype of animated European Roulette, updating visual and sound effects.

On April 7 at 12:00 pm GMT, the project has launched an ICO, the initial token will comprise 0.0015 ETH with value rising every hour along the sale process. Besides, it is planned to launch the first multi-level affiliate program developed on smart contracts with profitable indexes for both partners and players. Besides, it is planned to further simplify signing up for the platform, meaning that the users would not need to install additional plugins and extensions.

Online gaming backed up by smart contracts

SmartPlay reimagines the idea of backing up online gambling platform with smart contracts, sharing the ownership of the game platform between players.

The company has developed and launched the prototype of the “European Roulette” game based on Ethereum smart contracts. The game which offers various types of bets and automatic payment of winnings was previously made available in Mainnet and test network Testnet. Accepting and processing bets is fully transparent and visible to players and investors, it cannot be removed or changed. The platform does not require registration and identity verification. Network operations are transparent and being controlled by the smart contract technology, with the source code being open and fully secured from any attempt to alter or falsify.

To learn more about the platform and the upcoming ICO, please visit their website.