What Is Play Royal (PLAY)?

What Is Play Royal (PLAY)? Complete Guide Review About Play Royal.

What Is Play Royal (PLAY)?

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Play Royal Storage Key Points

Coin BasicInformation
Coin NamePlay Royal
Short NamePLAY
Circulating SupplyN/A
Total Supply10,000,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

Issuing & Redeeming vs Buying & Selling

So what’s the difference between Issuing/Redeeming a Set & Buying/Selling, and is there any benefits of one approach over another? Let’s go over a couple of examples to understand the user journeys from an Investor PoV. Play Royal The Set contract creates a series of DEX orders via a 0x API Router to convert the received 50 ETH into all the underlying assets in the correct quantities that constitute 100 EXAMPLE tokens.

In this example case, 100 EXAMPLE requires 1 WBTC, 10 WETH & 100 DPI of collateral. The Set contract, now holding the underlying assets ensuring 100% collateralize, issues 100 EXAMPLE tokens and sends them to the Investors connected wallet, completing the Issuance transaction.

Issue Button, Investors Journey

Now, let Play Royal compare this to how an Investor can use the Issue button to mint 100 EXAMPLE tokens, comprising of WBTC, WETH & DPI, using their own provided collateral. The investor accepts the proposed Issue transaction to convert 1 WBTC, 10 WETH & 100 DPI, that he currently holds within his wallet, into 100 EXAMPLE tokens.

The Set contract, now holding the underlying assets ensuring 100% collateralize, issues 100 EXAMPLE tokens and sends them to the Investors connected wallet, completing the Issuance transaction.

What’s the difference?

Looking at both examples, it’s clear that the difference between buying via single asset and issuance via provided collateral is that with the latter there is no need for the smart contract to perform all the respective trades on your behalf meaning that the operation is far less gas-intensive and cheaper to execute.

However, this is on the assumption that you own the required collateral in the first place. Issuance may also be of advantage to large Investors that source better exchange deals and rates elsewhere and want to provide their own collateral, avoiding slippage.

Why redeem a Set?

Play Royal When you sell a Set token via the Sell button, you instruct the smart contract to liquidate the underlying collateral, burn the Set token and receive a single asset in return (e.g. ETH). In contrast, the redemption process burns the Set token and frees your underlying collateral from a Set in a less gas-intensive transaction whilst also having the major benefit of zero slippage if the Investor remains bullish on the assets and just wants custody again.