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FirstBlood is an upcoming decentralized eSports gaming app that will allow individuals to test their skill and compete in 1v1 and team vs team matches for popular online games, such as League of Legends, Dota 2, and Counter-Strike: Global offensive.
FirstBlood’s innovations will allow skill based competition to take place independent of middlemen, such as financial institutions or casinos. The cryptocurrency Ethereum allows for the creation of smart contracts that run business logic autonomously in the blockchain. These smart contracts can be used for fast, secure and reliable processing of results and rewards from competitive eSports matchplays. Unlike existing platforms (which are both skill and game of chancebased), all of FirstBlood’s transactions are publicly verifiable, viewable, resistant to counterfeit, and not subject to the risk of institutional processing.
Traditional online businesses with centralized structures are subject to hacking, strict financial regulations, and onerous overhead costs. PeertoPeer (“P2P”) decentralization allows skill based competition without reliance on payment processors, reduces operational regulatory burdens, and protects against organizational corruption such as fraud and embezzlement.
Each match outcome will be automatically verified by two groups: Witnesses, and/or the Jury Voting Pool (“JVP”). Witnesses are people running the automated Witness node software that verifies and reports game results. Payouts will be rewarded to the winner based on player reports and Witness checks. This significantly reduces the risk of fraudulent reporting that is rampant on similar platforms.
What is 1SŦ Token?
FirstBlood Token (“1SŦ”) is an essential part of the FirstBlood ecosystem and economy. The four major utilities available to FirstBlood Token holders are:
(1) Playing matches.
(2) Witnessing matches and voting on the jury.
(3) Hosting tournaments.
(4) Claiming rewards from referrals.
As a utility token, 1SŦ is involved in every process of the ecosystem. 1SŦ can be acquired through FirstBlood’s native app, from another player via transfer, through playing competitive matches with players, from fulfilling jury duty or Witness duty after participants acquire 1SŦ, or from claiming referral rewards. Users will have the ability to acquire 1SŦ by sending Ether (“ETH”) to the 1SŦ creation contract on the blockchain during a presale. The FirstBlood interface will integrate third party trading solutions such as Shapeshift and Coinbase for users who don’t have ETH.
The FirstBlood Token initial distribution will be in the form of a presale. Anyone will be able to acquire 1SŦ at a discount rate by pledging ETH into the token sale smart contract. People who have other cryptocurrencies such as ETC, BTC or STEEM can 17 create 1SŦ via a thirdparty conversion service that will be available on the presale page. The sale will last four weeks from 9/26/2016 to 10/24/2016. These dates are approximate, as the actual start and end time will correspond to Ethereum block numbers.
The first hour of the sale will be a Power Hour. At this time, tokens will be available at a rate of 170 1SŦ to 1 ETH. Then the rate will change to 150 1SŦ to 1 ETH. Every week, the rate will decrease linearly until it hits 100 1SŦ to 1 ETH. The token sale will have a hard cap that, when reached, will immediately disable additional sales. The cap will be measured in Ether and set in the token sale smart contract to a value approximately equal to $5.5 million USD based on the ETH/USD price at the start of the token sale.
Summary of FirstBlood ICO on YUNBI
YUNBI had pooled 300,000 ETH in reservation within 10 hours for FirstBlood’s Pre-sale.
The official crowdsale took only 10 mins until it had completed. YUNBI had successfully sent 250,000 ETH to the contract address and claimed for 43,449,983 1SŦ, which accounted about 53.73% 1SŦ.
There were total 434 participants who were able to claim their 1SŦ token from the pre-sale, however due to the competitiveness of this event, we aren’t able to secure all participants reservation during the few blocks initially. Unfortunately, for reservations with a number which was greater than 434, Ethers were refunded promptly after the completion of the crowdsale.