Fungible and Non-Fungible Tokens in RealBig Platform
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In this article, we will review three utility tokens used in the RealBig platform. Specifically, RealBig project has three types of tokens as follows:
- ICO fungible tokens (RealB) with ERC20
- Utility fungible tokens (RealP) with ERC20
- Non-fungible tokens (RealN) with ERC721
The ICO tokens or RealB have finite supply and are tradable in the secondary market through centralized (CEX) and decentralized (DEX) Exchanges . However, RealP utility tokens used in our system have no intrinsic value and are not tradable in the market while they have unlimited supply. Put it simply, RealP is like a stablecoin token used to facilitate transactions inside our lottery system. So a user joins our platform by paying its monthly subscription ($9) in RealB; however, using smart contract, the $9 monthly subscription payment will be converted into 40 RealP credits which will be used to attend lottery contests. So changes in the market price of RealB has no effect on the RealP.
The third type of tokens or RealN are used as NFT with unique single unit supply per asset and tradability in the secondary market. We have finite (total 70) supply of NFT assets in our platform. The below table shows a comparison of RealB versus RealP tokens.
To purchase an NFT asset in the RealBig platform, a user should use RealB currency. Also, all lottery winners will get their prizes in one of three ways (done by our smart contract) in real-time:
1- Cash out their whole prize with RealB
2- Cash some of their prize with RealB and donate the rest of it to our designated charities
3- Convert their prize to RealP credit for playing more games in our system
Check out website or read our below White Paper to learn more:
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