Midas announces the listing of Gexan (GEX) to the Midas platform as an Instant Share. Invest today to receive instant rewards.
What is GEX and what does it offer?
Gexan is a blockchain based project seeking to capitalize on the emerging crypto industry as it relates to gambling. As is pointed out in their whitepaper, people often like to take risks when there is a chance for a massive reward. All forms of gambling, including: sports betting, poker, and lottery, have been popular and have shown steady growth over the last two decades, increasing from $187 Bn in 2004 to $294.3 Bn in 2016. Much of this growth has been driven by the implementation of internet based wagering.
Lottery games are a fantastic use case for decentralized networks because fairness is ensured, and low cost of transaction during prize payout. Many questions exist in current lottery games surrounding the true randomness of the winner, manager’s fees, and the disposing of ticket sales prior to drawing. Taxation by local governments often diminishes the prizes by 50% or more. Gexan is tackling these problems by implementing a verifiably fair process, executed by impartial blockchain-based smart contracts. These smart contracts will collect 85% of the funds gained from purchasing lottery tickets for the prize fund. All of the code used to build the platform is open-sourced, and available for viewing on Github. Check out the below graphic to compare traditional vs. blockchain lotteries.
There are several unique features to a Masternode-based lottery platform. Users who own Masternodes will be able to install their Masternodes directly to the platform, which will use the rewards to automatically purchase lottery tickets every day. Also, since GEX is a Hybrid PoW/PoS currency, lottery tickets can be mined directly using a GPU.
The Gexan platform is an ecosystem of advanced blockchain based technologies, and include: Smart contracts, Masternodes and PoW/PoS algorithm, fiat gateways on the website and mobile app, and an internal exchange to swap GEX to any other currency. In order to control the inflation of coin supply, the GEX team will implement a coin burn strategy, burning a large amount of coins after each lottery draw. It is estimated that after a period of 9 months, the inflation and level of burned coins will reach a parity, according to the chart below.
Artem Vahrushev – Founder, Finance and Economics
Rustam Mustafaev – Advisor, PR and Marketing Strategy
Artur Prints – Advisor, XDNA Foundation
Kazimir Frolov – Blockchain Dev
Vyachaslav Samoilau – Smart Contract Dev
Alisa Vaysbrod – Designer
Alexey Liberman – Front End Dev
Natalyaa Levenkova – Graphic Designer
Michael Sidorov – Front End Dev & Digital Design
Where can I purchase GEX?
GEX will launch an IEO in approximately 4 days: https://p2pb2b.io/token-sale/GEX
Can I get more information about GEX?
Why have Midas offered GEX to our community?
Midas have identified 2019 as the year of utility - projects can no longer exist solely by offering high masternode rewards to investors. We are taking large strides to be at the forefront of the shared masternode space, listing only projects we have identified as having strong fundamentals, potential for long term success and plausible application in real-world use cases in sectors that blockchain is poised to disrupt.
Do you want to become a Midas partner?
Midas is looking for great projects to join us on our journey. Get in contact with the team via Discord for more details, and visit midas.investments for information on our project, team and road map.