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06/16/2021

BFG Mining Update – Progressive Lock Mechanism

Since BFG becomes a tradable asset the team decided to reforge the mining mechanism in the way of keeping the core idea of obtaining BFG tokens by placing bets, keep the Betfury Staking earnings opportunities and reduce risks related to illegitimate token gaining and eventual selling them on the open market.

Advantages of Progressive Lock implementation:

- BFG token value increasement 

- User retention on the platform increasing

- Risks management and fraud prevention

- BFG token selling pressure reducing 

- Betfury Mining mechanism saved

As a decision, we have developed a Progressive Lock mechanism. How does it work?

Some key points of BFG progressive lock:

1) All previously mined tokens before listing are under unlock_capacity.
2) All mined tokens since Listing are included in locked capacity and will be available to be unlocked after 180 days.
3) If you play with tokens you are able to increase your unlock capacity.
4) All Deposits, Cashback, Referral Bonuses are included in unlock capacity. That means that your deposits and bonuses will not be locked and will be always available for withdrawal anytime
5) The withdrawal amount will decrease unlock_capacity amount in the amount of withdrawal

Since BFG on-chain token deployment, all tokens mined by placing bets will be locked for 180 days. It means that you will be able to withdraw them from the platform once 180 days will pass. However, locked BFG tokens will be included in your total BFG balance and take a part in Betfury Staking daily payouts in full size. 

Locked tokens will be fully operable for playing games and getting cashback. All losing will decrease locked tokens will be defined as unlocked and may be withdrawn from the platform out of scheduled unlock dates. All winning won't increase locked capacity, which means if you play with BFG and win you will be able to withdraw anytime. 

The unlock capacity chart is showing the dates and amounts of tokens that will be unlocked after 180 days in case of locked capacity exist. Unlocking is an automated process.

BFG token progressive lock designed by Betfury team for users, we did our best to make it maximum user friendly. 

Note: Progressive lock mechanics may be changed and upgraded, however, the core idea is going to remain the same.