The SCORP token has slowly emerged as one of the best crypto assets to have graced the market this year. The token’s unique utility in helping investors transform into partial owners of an online gambling platform is gaining a lot of renown. However, its ethos, which is rooted in decentralized gambling, will help this token facilitate gambling in the crypto industry.
Read on to know how.
What is Scorpion Casino?
Understanding SCORP begins with understanding Scorpion Casino. Scorpion Casino is an online gambling platform that offers conventional casino offerings.
You will find a host of games in multiple genres.
On the one hand, investors will find colorful slots that captivate the audience with their stylish looks, cool animations, great music, and tantalizing RTPs.
On the other hand, players will be captivated by the live dealer game offerings of this crypto casino, all of which are designed to provide the most fun and rewarding experience.
Punters will also find a home here, given access to robust sports betting opportunities in leagues ranging from NBA to FIFA and UFC. Their markets are varied, and their betting styles will entice both newbies and long-term bettors.
When you enter Scorpion Casino, the sheer variety of games will inspire you. However, many of the best online gambling platforms have done the same. Among them is Stake, which has even brought in real athletes to endorse its games. So, what makes Scorpion Casino unique? That’s where the SCORP token comes in.
SCORP Token – Making Scorpion a Den of Decentralized Gambling
The online gambling market is moving ahead to reach $200 billion. The crypto gambling market, however, is only worth $250 million. Even though PlayToday.co reveals that over 35.96% of all gambling was done using cryptocurrencies, the potential hasn’t been realized.
The issue lies with ownership. Many crypto casinos have their “crypto” aspect limited to only supporting cryptos as betting and wagering options. The ownership still remains centralized and traditional. Starting one involves significant time, cost, and expertise. SCORP comes up as a different solution.
The native token of the Scorpion Casino, SCORP, plays many roles. It is the key to turning token buyers into partial owners, giving them access to passive gains. It also offers access to exclusive gameplay. It works as a ticket to the decentralized autonomous organization, letting investors decide on the future of the Scorpion Casino.
Multiple Utilities of SCORP – One-Stop Coin Facilitating Gambling in the Crypto Industry
SCORP is a BEP-20 token that has been designed to provide the most upsides in the long run. Its key features are as follows:
It is a Stakable Token
Staking is the core of extracting passive income from the cryptocurrency ecosystem. It is inclusive, which is the reason why the entire proof-of-stake ecosystem was established. Staking SCORP, which is also the main functionality of tokens, gives stakers access to regular passive income.
However, the income generated isn’t limited to standard APY rewards where the standard route of distribution is chosen, giving static gains to seekers. Scorpion staking is dynamic and tied to the growth of the casino, allowing users to generate gains at the pace at which the gambling site is able to generate profits. This factor can bring more users to the crypto casino space.
It has Deflationary characteristics
For any asset to increase in value in the long term, its supply has to decrease. Therefore, Scorpion has a deflationary tokenomics. Its supply will reduce over time. The combined impact of the token’s popularity and the burning mechanic shoot up its value in the long run, making way for more funds to come for the Scorpion Casino’s ecosystem and setting the stage for its growth.
Buyback and Burn Program
Another one of the key perks of the Scorpion Casino token – SCORP – is the buyback and burn program. All the profits that Scorpion Casino generates will go into buying SCORP tokens from the centralized cryptocurrency exchanges. Half of these tokens bought will be allocated to the staking pool, and the other half will be burned.
Burning tokens will naturally reduce its supply, potentially increasing its price. With a staking pool, participation will be increased. Simply put, staking will increase the demand for SCORP, and burning will decrease its supply. A conventional form of pumping the price, this token is sure to make crypto gambling a norm.
Conclusion
SCORP has pushed Scorpion Casino towards a decentralized ecosystem. It paves the way for its future growth while allowing its participants to grow as well. That’s the essence of a crypto-gambling platform. Its decentralized narrative means everyone should benefit, even when they are not playing directly in the casino.
That is how SCORP will facilitate online gambling in the crypto industry.