April 25 2020 UFF Sports State of the Union Update.
Good afternoon,
I wanted to take time to update everyone on what's happening in the UFF Sports war room.
This is also an update on the ongoing development that our team is busy working on every day.
As with most things in today's crazy world, our project has had to adapt to the changing circumstances in the world of sports, but also in the world economy as a whole.
The amount of fiat money that is being printed for the worldwide "bailout of everything" programs will alter our current worldwide economic structure. Things are about to change forever and there are many indications that we are ALL moving to some type of blockchain solution in every industry and every economy worldwide.
The mass adoption of all types of cryptos and blockchains by big corporations, banks and governments will bring crypto to the mainstream public. This adoption helps pave the way for the continued growth and success of the Ultimate Franchise Fantasy Sports Platform. WE ARE STILL BUILDING AND INVESTING FULL STEAM AHEAD!!!
UFHL Corona Cup Simulated Playoffs
With the hockey shutdown, the UFF Sports team decided to load all of our actual fantasy franchise rosters into EA sports NHL20 video game and run a head-to-head fantasy sports playoff. Games are regular 20 minute periods, 7 games series with games being streamed live on our UFF Sports YouTube account and on our Facebook page.
channel.https://www.youtube.com/channel/UCEf9dPWc7z8TunuMBB7EOqQ
https://www.facebook.com/uffsportsofficial/
We are currently entering round two, here is the bracket so far. These are the actual rosters and names of official UFHL franchises.
These playoffs have been great fun for all involved and it has helped us work out the bugs on our revolutionary staking platform. What's staking you ask?
Staking Score Token: For fun! And For Coin Accumulation!
What is Score Coin (SCO)?
Score Coin is the utility coin used to transact within the Ultimate Franchise Fantasy Sports game. Score Coin is transferable with Bitcoin (BTC) and Ethereum (ETH). SCO tokens can be purchased at gneiss.io. These tokens can be used to purchase franchises and to register scouted players. You can also Stake* them to earn rewards, and in the future, they can be used for live betting and purchasing merchandise.
What is Staking?
One of the easiest ways to make money in the crypto space is through staking. So, what exactly is it? Staking means holding a cryptocurrency in a wallet for a fixed period, then earning rewards on it. The reward that one earns from staking varies depending on the platform, length of time, and other variables set out by the project.
YOU CANNOT LOSE ANY COINS BY STAKING THEM!
If you stake on a team that lost, your coins are still yours and can be removed at any time. You can only win coins, or you have the same as when you started.
Once you stake your coins with a team, a payout/coin is triggered for every fantasy point that team earns during the time you had your coins in their pot. It could be one game, one week, one month or the entire season. Payouts happen at the end of every active day until you remove your coins.
This is the payout formula (0.004/1SCO x53 fantasy points = 0.212 SCO payout)
This payout is split in the following way,
Fan (staker) 80%
Franchise 15%
UFF Sports 5%
Show me an example?
UFF Sports Fan RICKY
Ricky is a huge FAN of the UFHL, but doesn’t have time to run a franchise. So, he registers as a FAN on the uffsports.com website.
He buys Score Coins at gneiss.io. Coins are currently pegged at $0.02USD/SCO.
He decides to stake 1000 SCO on his favourite UFHL franchise, The Royals, for a 1-week period. This is done on the uffsports.com site.
The Royals earn 53 fantasy points that week.
At the end of that week, the SCO earnings are paid out at a rate of:
4 SCO/1000 SCO staked x 53 fantasy points = 212 SCO payout
(0.004/1SCO x53 fantasy points = 0.212 SCO payout)
The payout is automatically sent to your wallet address at the end of each day.
How will this work for the Corona Cup?
The simulated head-to-head 2020 Corona Cup is actually UFHL fantasy teams playing each other and we are modifying the staking to accommodate this.
Simply put, the winning team of each simulated game will be rewarded 25 fantasy points.
The losing team will receive zero.
The payouts will be the same as the above structure.
What are we currently building?
The current focus of the UFF Sports Development team is two-fold:
The team is working hard on a simple portal on the UFFSports.com website to purchase Score Coins with ease. You will simply enter how many SCO you want to purchase and hit the "Buy" button. You will then see an Etherum (ETH) address to send your payment to, send the ETH and boom you will have SCO. It can readily be used to stake, register players as a scout, or buy your own franchise.
SCOUTING is the second thing our coding geniuses are finalizing. Scouting is the bedrock of the UFF Sports platform, we are the first to introduce this concept and build it upon a strong structure. There will be a scouting registry/login, you will pay a one-time lifetime fee to become a licenced UFF Sports Scout. From there you will have the ability to register young talent on the platform and become the owner of that digital asset, which can never be duplicated.
We are building a page that will list all of the scouts and the players they own. From this page, fellow scouts can trade and purchase these assets. Franchise owners can also make use of this page, as they look to fill their rosters and protected lists.
We will talk more about Scouting and the launch day of the system in coming updates. I can tell you that Scouting is going to bring an entirely new dimension to fantasy sports worldwide and we will be the industry leader.
That's all for this update regarding what we are working on. We have a target date of June 01, 2020 for these updates to be complete. Our simulation games are ongoing on YouTube and Facebook.
Staking alpha is operational and we have some cool programs that we will be announcing where you can earn SCO for free.
All the best to everyone, looking forward to an exciting future.
The Honch
Tony C
