CasinoCoin: A New Era

CasinoCoin
5 min readMay 3, 2021

by QuadJacks

Prologue

This blog post is a consolidation (with updates where relevant) of token swap references from the old CasinoCoin website. Please refer to the new CasinoCoin website in the future.

https://casinocoin.im/

Statement

In November 2020, CasinoCoin(CSC) had a change in leadership. CasinoCoin’s former Technical Consultant, Daniel Keller, stepped up to take the role as the new Chief Technical Officer and will lead the business forward in a new, more-focused direction. Daniel is supported by Matthew Cheetham as Chief Operating Officer.

Previously based in Malta, the CasinoCoin Foundation has been replaced by Eminence Ltd. on the Isle of Man. Eminence Ltd. will be the parent of CasinoCoin and CSC will live on, under a new rebranded identity.

Since the leadership change, CasinoCoin has been able to reach new agreements with multiple parties and define a clear strategy for moving forward. We have also secured considerable additional investment funding, led by the Knox Group of Companies in the Isle of Man. This will ensure that we are able to deliver on our strategy.

CasinoCoin as a product will be heavily focused on Tier 1 & Tier 2 gambling markets. With the substantial new investment, we now have enough capital liquidity within the operational business to target a top 15 exchange listing for CSC. Due diligence is currently underway and we aim to be listed on our targeted exchanges.

With regards to previously announced proposals, FUD Limited — also based at the Hubb in the Isle of Man — is working on a number of exciting projects. FUD continues to work with SunCash on the development of a new DLT solution and we will continue to share knowledge and expertise where mutually applicable.

In order for us to remain compliant with GDPR regulations, anyone who is currently on the CasinoCoin mailing list or a BRM user must grant Eminence Ltd. permission to email them. You should have received an email from us regarding this. If you haven’t received an email, please opt-in via this form.

Token Swap

On April 20, 2021 CasinoCoin initiated a token swap from the CSC Ledger (CSCL) to the XRP Ledger (XRPL)*. The token swap is taking place off-exchange only, in conjunction with XRPL Labs, utilizing the XUMM Wallet. The XUMM Wallet employs an embedded migration wizard which allows users to import their existing CSCL accounts and facilitate the swap via the app.

Due to regulations, KYC is mandatory. Bankroll Manager (BRM) features like the Game Lobby will be re-released as an xApp for XUMM once the swap is concluded.

*We will swap GFG and CR8 holdings at a ratio of 1:1. If you swap your GFG into XRPL CSC, you will not be able to claim your GFG back at a later date.

Swap Details

Swap Announced:

  • January 19, 2021

Swap Dates:

  • Begins: April 20, 2021
  • Ends: June 18, 2021
  • Duration: 60 days

Swap Requirements:

  • Government-issued ID, passport, or Drivers License
  • 20XRP on a separate wallet or exchange (Account reserve + Trustline)
  • Your CasinoCoin account secret.

Swap Information

Swap Tutorial

Please note, the following countries are sanctioned by the Isle of Man where Eminence Ltd. is based:

Afghanistan, Bosnia and Herzegovina, Burma Myanmar, Burundi, Central African Republic, Democratic Republic of the Congo, Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Mali, Nicaragua, Republic of Belarus, Russia, Somalia, Sudan, South Sudan, Syria, Venezuela, Yemen, Zimbabwe.

If you are a citizen of a country that is currently sanctioned by the Isle of Man, please contact support for assistance.

For updates on the swap, check this page, and follow our Official Twitter. You can also join our Official Discord Server and check the following channels: #swap-instructions, #announcements, #official-tweets and #wormhole.

Moving Forward

We’re excited about the move to the XRP Ledger and we are looking forward to collaborations with XRPL Labs. This will present CasinoCoin a multitude of opportunities in the future. CasinoCoin on the XRPL is going to focus on being a fast and cheap payment solution for regulated industries. From our point of view, the XRPL is the most fitting solution for this purpose.

In recent years community-driven development, decentralization, and the ability to submit amendments accelerated. This allows the CasinoCoin team to focus on core development, no longer having to maintain the integrity of the network. Being carried by the XRPL will also make it easier when it comes to 3rd party integrations like hardware wallets and exchanges. We are also thrilled about the DEX abilities and opportunities. Eminence Ltd. will support the XRPL by running a validator.

2021 Achievements

Community Following: The number of people actively following the progress of CasinoCoin has grown tremendously. We’ve seen a 400% increase in the number of active users in our Community Discord, our Twitter following has almost doubled, and we’ve seen a rapid increase in the number of people engaged in our Telegram channel. Furthermore, there are now over 11,000 people with CasinoCoin on their CoinMarketCap active watch list.

Active Wallets: Over 5,000 new CSC wallets have been created. More users than ever are actively holding or involved with CasinoCoin.

New Technology: We are now in the process of swapping CasinoCoin Ledger (CSCL) to the world-class technology of the XRP Ledger (XRPL)

Casinos: In the past, CasinoCoin was positioned as being the future of gambling-related payments. Now, we have secured multiple casinos that will support the deposit and withdrawal of CSC and negotiations with several more are ongoing.

Head Office: CasinoCoin operations will be based out of the Hubb and we are in the process of establishing our new head office. The Hubb was a natural fit for us moving forward, being the home of blockchain and crypto-related businesses on the Isle of Man.

Market Cap: CasinoCoin had a total market cap of $3,017,702. On April 16, 2021 CSC hit an all-time high of $177,739,054, representing a 5889% increase in value.

Trading Volume: the volume of daily trading activity has also increased from a peak of $520,700 to $3,269,577 representing an over 600% increase in volume.

Exchanges: We have entered into new agreements with several exchanges that will support the buying and selling of CSC. Our mid-term goal remains to have CSC listed on a Top 15 Exchange, with a listing on a Top 25 Exchange in the near future. CSC is now more accessible than ever.

CasinoCoin Links:

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