[ANN][CGX] ChainGamingX - Decentralized, Democratized, Global Gaming Competition

Our platform, fully decentralized and democratized, will foster direct connections between players. People on the other side of the world, through ChainGamingX, can use cryptocurrency for entries into matches, tournaments, and leagues. In turn, our smart contracts verify winners and make distributions, of the prize pool to which all the participants have agreed.

Are you ready to showcase yourself?

To get started, the tournament organizer will initiate the beginnings of a new smart contract, by selecting the game that players are going to compete in. Players in every tournament will initiate smart contracts of their own, to enter the tournament that the organizer has created. Before ever entering, players can review and verify the advertised prize pool and other details, as all the details for every tournament exist on the BSC. We have devised a tournament structure that is comprehensive but straightforward. It will track the outcomes of matches as well as the running standings throughout the tournament. For then to distribute the prize pool to the winning players.

As a player, you may come across a tournament that you know you can win – but lack the funds necessary to pay for an entry.

Our system will enable these players to seek out sponsorships in the community. Sponsors enter smart contracts with players to pay their entry fees for that given tournament, that contract between each other will agree on how the prize will be split, for example 70% for the user and 30% for the sponsor, and when the players win, the sponsors automatically receive the agreed portion of the winnings. We hope to inspire a new era of scouting in esports through this functionality. Because players will know that sponsors may always be watching, it will also serve as an impetus for everyone to play at their peak potential all the time so they can create a winning track record.

Be part of CGX

Overseeing CGX will be our DAO (decentralized autonomous organization), which token holders will make up. The DAO will function as a part of ChainGamingX organization. To participate in the DAO, a CGX holder must stake their tokens through our staking platform.

Within the DAO, we will draw on many perspectives and ideas. Everyone who is in the DAO will have the opportunity to speak about issues concerning the technology. As well, you will get to vote on the major decisions that we make regarding development and governance.

We make distributions on our line, paying out the DAO on any funds generated after we have paid our expenses. The revenue will be distributed to all the DAO members, it will be divided accordingly to the percentage of the CGX tokens staked by the users.

For example:

ChainGamingX reports a net revenue of $10.000 USD.

If there are 100M $CGX Tokens staked in the DAO and you own 10M of those tokens then you will receive ($10.000 USD/100M)*10M=$1.000 USD[/color