8. Gameness In-App Wallet

Every user on the Gameness platform will have a multi-currency In-app Wallet associated with their account.

With In-app Wallets provided by the Gameness platform, users will be able to hold fungible and non-fungible crypto assets, perform transactions such as receiving and sending supported assets on supported chains internally and externally within the application, trade on marketplaces, view transaction history and track final balances.

In addition to the blockchain integration, the In-app Wallet will also have fiat integration (fiat on-ramp and off-ramp) through third-party payment provider integration. Thus, users can make fiat deposits and withdrawals through their In-app Wallets via the relevant third parties. The Gameness In-app Wallet will support all major currencies.

Users can perform the following transactions through their In-app Wallets:

  • To buy the $GNESS Token, users can deposit fiat in their In-app Wallet. In this case, the fiat will be stored in an escrow account, and the corresponding $GNESS Token amount will be credited to the user's account.

  • When depositing cryptocurrency to buy $GNESS, the user's crypto asset is first converted to stable-coins or fiat. Then, the corresponding $GNESS amount is credited to the user's account so that the user's crypto asset is not exposed to crypto market volatility.

  • When the user wants to withdraw a certain amount of $GNESS in fiat, the Gameness treasury buys $GNESSs. It sells them through the platform's liquidity pool or swaps them over an external DEX.

  • When the user wants to withdraw $GNESS, the desired amount of $GNESS will be sent to the specified address.

When the $GNESS amount held by the users and the $GNESS amount held by the platform differ due to $GNESS price fluctuations, the withdrawal transactions will be balanced with the $GNESS sales made on the exchanges to prevent losses to the company. This process will be handled by liquidity programs (providing liquidity to the liquidity pools) with incentives and/or offers to the general public or DEXs.

The In-app Wallet keys, specially created for each user profile, will be stored in the platform database in a fragmented and encrypted form, with additional security protocols so that only users who have the keys can access their accounts. Developers and other people will not be able to access them.

In addition to the In-app Wallet, users will be able to connect their non-custodial Web3 wallets to the platform, use many of the platform's features with them, and withdraw their crypto assets to their non-custodial Web3 wallets whenever they want.

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