He stated, “It opens up a chance for me to use my fighting talents to introduce boxing fans to crypto and the benefits it has to offer. Whyte also touched on his aims to introduce a new demographic of boxing fans to the crypto world. “They tell me they are going to move into play-to-earn games too, and I’m down for that as someone who enjoys games of chance and video games”. I was excited to learn about their business and the new, transparent and fair approach that they bring to prize draws and giveaway competitions using crypto.” Whyte said, “When Lucky Block first approached me with a sponsorship deal, I didn’t know who they were or what they did. Ryder remarked, “We jumped at the chance of flying Dillian into the UK from his Portuguese training camp to make sure the biggest fight in boxing happened”.ĭillian Whyte’s Excitement About the Lucky Block ProjectĪfter the contracts were signed last week, Dillian Whyte immediately came on board and expressed his enthusiasm about what Lucky Block has achieved and the project’s roadmap for the future.
The pre-fight transport that was promised by the bout’s promoters also didn’t come to fruition, leading Lucky Block’s team to step in and charter a private jet to fly Whyte over from Portugal so that he could make the fight. Numerous factors already seem to be going against the championship contender, such as his low cut of the prize purse and the lack of seats for his family and friends at Wembley. Whyte comes into this fight against Fury as the betting underdog, yet this doesn’t seem to faze him. As evidenced by the likes of Manchester United and Newcastle United, crypto projects are becoming more popular when it comes to sponsorships, offering scope to increase adoption across the globe. This highlights the scale of the occasion, which will come as a huge boost to the Lucky Block team. According to talksport, 85,000 tickets were sold for the bout in just three hours – with 5,000 extra tickets being released to meet demand. Lucky Block’s foray into the boxing world comes at just the right time, as the Whyte vs Fury showdown on 23 rd April will be viewed by spectators worldwide. Lucky Block and Dillian Whyte Look To Beat The Odds This partnership is seen as a massive coup for Lucky Block, with CEO Scott Ryder stating that “it was an opportunity to put the Lucky Block games platform on the map in a huge way”. Whyte’s fight against Fury looks set to be one of the biggest ever between two British boxers, with Lucky Block sealing an exclusive deal to sponsor Whyte in his bid to become heavyweight champion of the world. dollars,” you would say no, and if I raised my offer to 400 quadrillion you would not change your mind.Crypto games platform Lucky Block, which raced to a $1 billion market cap earlier this year, has announced that it will be sponsoring heavyweight boxing contender Dillian Whyte ahead of his super-fight against Tyson Fury this weekend. If I made up Sharecoin and Dollarcoin on my computer and said to you “I will give you the number 10 billion in this Excel spreadsheet if you give me 1 million U.S. And because you just made it up, there is no particular reason for Sharecoin to be worth anything, so there is no particular reason for Dollarcoin to be worth a dollar. If Sharecoin is worthless, it cannot be used to support the price of Dollarcoin. But if Sharecoin trades at $0.00, you can print infinity quadrillion of them and you’re still not gonna be able to push up the price of Dollarcoin. If Sharecoin trades at $0.01, you can print 10 million of them and buy 100,000 Dollarcoins and push the price up. It relies on Sharecoin always being worth something. The process is sometimes compared to algorithmic central banking, where the central bank maintains the value of the currency (Dollarcoin) by adjusting its supply.
The result is that Dollarcoin is firmly pegged to the dollar.
If it trades at $1.01, you have some automatic process in which you print some more Dollarcoins and use them to buy Sharecoins until it is back to $1. If it trades at $0.99, you have some automatic process in which you print more Sharecoins and use them to buy Dollarcoins until it is back to $1. But Dollarcoin is supposed to trade at $1. It might be $0.01 per Sharecoin, or $1, or $100, who knows. Sharecoin trades for whatever price is determined by supply and demand. You invent two tokens, call them Dollarcoin and Sharecoin. Here is how an algorithmic stablecoin works.
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