News & Updates
Some good and bad news... and the future!
As the title says I have some good and bad news for everyone, along with some updates. But first, I want to thank everyone who's been playing games and spending time on FocusGames and keeping the platform going.
Let's start with the bad news...
I'm sure many of you have noticed the trends in the FGBUX to FGN exchange rate over the last month or so. There's no way to sugar coat this, but the system has to be changed and some drastic actions taken. Why does this need to happen? In short, I messed up... Let me explain...
As part of the Daily Streak Bonus, on day 14 and beyond you get rewarded with FREE Lottery Tickets by making wins on Rambo Dice. These FREE tickets allow players to enter the lottery free of charge with a chance to win without actually buying a ticket. When the lottery round ends, if they are a winner they get rewarded with pure profit. With Rambo Dice activity being high this heavily inflated the output of FGBUX and FGN into user's accounts as they won any position in the lotteries.
Now, with the exchange rate for FGBUX to FGN getting wider and wider, suddenly users are earning billions of FGN for doing almost nothing. Not only does this have to stop, but it should have been stopped months ago.
At present users balances total around 34B FGN and 8.2B FGBUX. Has anyone noticed the problem yet? If not, here it is: THE TOTAL SUPPLY OF FGN IS 21 BILLION TOKENS AND IT'S NOT POSSIBLE TO MINT MORE. That's how I messed up.
It's unfortunate to say but this is what's going to happen:
- The exchange rate of FGBUX to FGN will be changed to a fixed rate of 1 FGBUX = 2 FGN, and will no longer fluctuate with price rises/falls.
- Any trades from FGBUX to FGN that happened with a rate of 1 to 20 or more will be reversed and you will be given FGBUX back. If you do not have enough FGN to refund the trades, we will remove it in the form of FGBUX instead at the new rate. For example if you are missing 1000 FGN, we will attempt to take 2000 FGBUX instead. All obtained coins from the refunds will be internally wiped off along with the trades.
- Free Lottery Tickets on Rambo Dice will continue to be given, but at a much reduced rate of 1 free ticket per hour. You will be able to obtain more free tickets by playing again in the next hour, and so on.
I understand this action will be undesirable for many users who spent their time accumulating FGBUX, but it's important to take note of why this has to happen and why it's an impossibility for it to continue in it's current way.
Please use coupons FGN100K and EXP100K as our way of saying "we screwed up".
And now the good news!
Up until now the demand for using FGN has come from within the site only and anyone who wishes to use FGN has to first obtain it on site. We wanted to allow users to accumulate FGN tokens into their off-site wallets and allow for enough to be in the outside world, and not part of the on-site ecosystem. Now it's time to bring back the demand and bridge the gap.
By the 15th November the new deposit system will launch allowing you to deposit FGN tokens into your account by generating a deposit address. This will allow those of you who have tokens off-site to bring them on-site, or to purchase them on an exchange for use on the site. Once this deposit system is open we will increase withdraw limits by 2x.
The first version of the deposit system will be a simple one allowing users to get tokens into their account. However, right after this launches we'll be starting work on an upgraded deposit system which acts like a payment gateway and provides a method to purchase on-site services through a single transaction on the chain, instead of making a deposit and then using your on-site balance for that purchase. With the launch of that system comes many other changes which we will speak about when the time comes!
But wait, there's more...
FGN is our primary token and the site's primary currency, however with the launch of the deposit system we will be allowing the deposit of TRON (TRX) as well as FGN! You will be able to use TRX to play Rambo Dice and the Multiplayer Lottery, and as time goes on we will allow TRX to be used in other areas of the site as well.
So, are you going to talk about the price of FGN?
Ah, there it is. The thing people wanted to hear me talk about: the price of FGN. First let me say that FocusGames is a gaming site and games are about having fun. The focus is on the games hence the name "Focus Games Network". We launched the platform and the token as a way for people to have fun with our games, and that means making FGN our top priority next to the platform itself. However, these things take time, and FGN is a long hold token which we'll be supporting with our current and upcoming projects. It is not a get rich quick pump and dump token that has a lifespan of 2 minutes.
I would like to point out that right now at this present moment there is no demand to purchase FGN from an exchange, because there is no methods to make use of it, which leads to the obvious conclusion that nobody will buy it because they can't use it, and if nobody buys it the price goes down. Why does the price go down? Because there are more sellers than buyers. The ecosystem and economy has all been within the site with no way to make a deposit.
Now, with the deposit system opening soon this is about to change. It will be the first form of demand for the token because users both new and old will be able to purchase FGN from the exchange and play our games such as Rambo Dice and Lottery and make use of other services like posting chat ads or purchasing username CSS, along with sponsored news posts and VIP coins.
We have a huge amount of things in store for the FocusGames platform that we think you'll enjoy. As these things show themselves we believe they will all contribute to creating increased demand for FGN.
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