FunFair’s (FUN) mission is to establish a global network of "completely transparent and secure casinos".
To achieve this goal, FunFair relies on smart contracts, state channels, and its own utility token (FUN). While FunFair is blockchain-agnostic, it currently usesEthereumas its base layer.
To improve scalability, FunFair also uses customized state channels referred to as "Fate Channels". Hence, all of the gaming activities are handled off-chain with outcomes being settled onto the Ethereum blockchain.
FunFair pre-mined "approximately 17 billion" FUN, which are ERC-20 tokens. FUN can be used for betting, paying out players, paying license fees, and compensatingstakeholders.