GifCoin and VitalBet — Gambling Investment Fund
Gifcoin is a new investment fund, fully operating on the basis of the well-known and long-running betting website VitalBet https://www.vitalbet.com/
The GIFCOIN project acts as a fundraiser for the purpose of substantially updating the VitalBet gaming platform with its further promotion and popularization as a global brand in the most promising online gaming markets.
The subject of investment is GIF’s own crypto currency, the purchase of which in the long term is bound to bring a positive effect — after the implementation of all plans, the project team will surely distribute all 80% of VitalBet’s net profit among tokens owners.
History
In early 2011, four programmers made their first own project related to affiliate marketing. The next stage was cooperation with Amazon partner programs for saleing pharmaceuticals and software.
Wishing to grow and develop, team decided to close all current projects and plunge into the bookmaker business and gambling, seeing in these markets a real growth perspective. In their homeland, in Bulgaria, they decided to make casino and bookmakers catalogs.
The business began to grow rapidly and six months after the start, the project participants entered to UK market. So, step by step, the catalogs gradually grew in number, as well as the list of countries.
In 2015, using the services of the company to create full-featured platforms for gaming sites, the team created its own resource — VitalBet.com. The first months of the project did not justify their expectations, but with the help of high-quality marketing, the business soon moved from its place and in less than half a year the site had already about five thousand active users.
Since 2017, the site has been introduced bitcoin, which could be used not only for the purpose of payment and deposit, but also use this crypto currency as a subject of rates. The introduction of bitcoin on the site served as a reason for the team’s further reflection.
Studied cryptocurrency market and blockchain technology, was decided to create its own token and organize its initial offer, Use the capital collected from sales to further project developing in order to enter the TOP-15 bookmaking web resources in the world, which in the future will be able to provide more than $ 800 million profit.
VitalBet review
VitalBet is a large bookmaker online service that covers all online betting sports like football, basketball, hockey, and others and casinos, more than 180 casino games and LIVE casinos, slot machines, roulette, blackjack, e-sports and virtual sports.
The main advantage is ability to make payments in bitcoins. This feature significantly distinguishes VitalBet from among other bookmaking sites, since only a few of them offer this function.
VitalBet also offers all payment methods in a fiat currency (Visa / MasterCard, Skrill, Playsafecard, etc.). At the moment, it is planned to expand the list of available cryptocurrencies to ETH, LTC, XRP, DASH in order to expand the base of client-players, all transaction using blockchain.
GIF tokens and ICO
In order to grow rapidly growing and outpace competitors, VitalBet needs capital for new design and functionality, launching a mobile app, expanding the market, as well as for conducting modern marketing companies, of course, without forgetting to conduct various kinds of advertising events. The collection of capital through two major technologies and loans, a loan or stock is very expensive and time-consuming, and it’s rather risky. Moreover have a number of complexities and shortcomings. The first drawback is that the debt must be repaid with percents. Percents rate can be very high. As a result, the amount of overpayment will be very high. Secondly, if monthly payment not paid in time, the bank applies sanctions and charges fines. Finally, each organization may have unforeseen circumstances and a situation may arise that it will not be possible to make a monthly payment. Unfortunately, the bank is not an organization that takes into account such circumstances. Using the initial coin offer (ICO) as an alternative financing instrument, the company intends to raise funds faster and less risky.
VitalBet created own currency, called GIF. This token is based on the Ethereum blockchain, ERC20 standart, which indicates its liquidity and a high level security.
The total number of GIF tokens — $300 million.
The total amount during ICO — 120 million.
Starting price for 1 ETH is 10,000 GIF.
Investors bonus — 15% in the form of GIF tokens when launching the preliminary ICO. The maximum number of purchases of tokens is unlimited.
GIF tokens will be distributed in such proportions:
8% on Pre-ICO;
80% on main ICO;
9% will be distributed between the project team;
3% on bounty campaign.
After reaching Hard Cup (24,000 ETH ~ $ 24,000,000)
50% on advertising;
16.7% on marketing;
20% on bank operating;
4.2% for platform upgrading;
8.3% to resolve legal issues in different countries.
The capital received from sales will be directed solely to the implementation of the plans already set in RoadMap. As a reward for investors, VitalBet will share with them 80% of its annual profit.
The process of distribution profits share will be in two stages:
Obtaining and processing accurate data on the distribution of GIF tokens between users;
Distribution among investors at the end of the year.
Before each distribution process, a blockchain snapshot will be made in order to confirm the possession of tokens with exact addresses, which will enable the current distribution state to be fixed between the holders of the currency in accordance with a specific block.
All the necessary information and the exact date of distribution will be reported in advance on the official website and duplicated to email addresses several times. At this stage, negotiations are being held with all major exchanges regarding the issue of introducing the distribution process, taking into account the functional. All payments will be made through a system of smart contracts in ETH.
Bitcointalk profil: https://bitcointalk.org/index.php?action=profile;u=1299687
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