Quote from: DFSMack on May 25, 2019, 10:47:53 PM

Update From Head Dev Nico:

I will try to clear up the details of the new chain as much as possible.
FGCv2 core code is based on Bitcoin using the UTXO model, it is NOT itself an ERC20 token, however there is a submodule called cpp-ethereum that allows FGC to support ERC20 tokens which I have renamed FGC20 for the FGC chain.
What does this mean exactly and how will it help FGC?
a. Smart Contracts, ERC20 and ERC721 tokens can be deployed on the FGC chain, this includes anything from simple tokens, ICOs, crowd sales and DApps. Existing smart contracts and DApps can be deployed of the FGC chain. This opens up our eco system 1000-fold.
b. This opens up the possibility that DraftDaily and FGCArena could 1 day be DApps.
c. Gas is paid in FGC.
How will this help DraftDaily and FGCArena?
a. The dev team will create a token to be used on those sites, this token will be sold at a set $1 price and can be bought with FGC or Skrill. Players can later cash out at the same $1 value, minus any fees of course. If a player bought tokens in FGC they can cash out in FGC, if they bought with Skrill they can cash out via Skrill.
b. This solves volatility issues for players.
c. Since these tokens will not be on any P2P exchange which removes the financial benefit to hackers. If any of the sites get hacked, they will only get tokens they cant sell.
d. Still allows us to public display user balances and prize pools without the risks involved.

Will people be able to buy this token with BTC or other crypto?
a. Yes and No. On site purchases will only be done in FGC or Skrill. Fees will be applied to both purchases and withdraws. However, players with BTC or ETH will be able to buy FGC and then convert that to tokens for game play. The exact mechanics are being discussed by the team.
Why not keep masternodes?
a. They are not really befitting the over all businesses model as we hoped, the idea was that a Fantasy player or Gamer could buy a masternode or two and then use the rewards to play, essentially allowing them to play for free with only 1 small investment. That never happened in fact most masternode owners dont have an account on any of our sites and mainly just used to sell rewards only benefiting the individual and not the project as a whole, this causes a lot of price volatility which player dont like. No one in their right mind wants to enter a contest knowing that even if they win, they could even lose money because of people dumping. No players = no eco system being used = just another shitcoin and I for one did not come here to make shitcoins.
b. MN + Smart Contracts = more development time, more maintenance costs

Will there be a reduction in block rewards?
a. Yes, there will be a major reduction in the block reward. The current reward is 14.8711, expect the block reward to be 4 FGC or lower and then half every X number of years.
b. The exact block reward has not yet been decided we are looking for a good balance that will be attractive to holders but not so high that everyone is selling their rewards everyday continuing to put downward pressure on the market. This will not keep people from selling or those who do want to sell cant keep selling at the same rate forever.
What the POS annual ROI %
a. Not yet defined until we define the block reward, see above.
What will the swap ratio be?
a. Thats been the subject of conversation, most of the team members feel, and I agree, that a 1:10 ratio would be a good number putting us back to our old DFS max supply of 210,000,000

There is a scheduled follow up meeting for team members this coming Tuesday where each member will present their proposals to define the swap ratio, block reward and other topics. We will try to take the best points from each proposal to come up with the final numbers and report back to the community.

Love it FGC is the greatest Period.