Why We've Moved to Crypto Payments

As some of you may know, we have been unoperational for some time. This was due to the significant difficulties we encountered in securing a reliable payment provider for our platform.

The Challenge with Traditional Payment Processors

Platforms like ours are considered high-risk by traditional payment processors such as Stripe, PayPal, and similar services. This classification stems from the nature of our business model, which involves prize competitions and skill-based contests.

To be considered a trusted business by these payment processors, you need to demonstrate a substantial transaction history and a proven track record of low chargeback rates. This creates a catch-22 situation: you need payment processing to build a transaction history, but you can't get payment processing without an existing transaction history.

Why Crypto is Our Solution

Out of concern for chargebacks and the barriers to entry with traditional payment systems, cryptocurrency has become the only viable option for us to establish a proper, reliable payment infrastructure. Crypto payments offer several key advantages:

• No Chargebacks: Cryptocurrency transactions are final once confirmed on the blockchain, eliminating the risk of fraudulent chargebacks that plague traditional payment processors.
• Lower Fees: Crypto payments typically have lower processing fees compared to traditional payment methods, allowing us to pass savings on to our customers.
• Global Accessibility: Cryptocurrency enables seamless international transactions without the complications of currency conversion and international banking.
• Transparency: All transactions are recorded on the blockchain, providing complete transparency and traceability.

Building Our Reputation

By generating payment traffic and building a solid transaction history through cryptocurrency payments, we will be able to demonstrate our reliability and trustworthiness. This will eventually make us eligible to integrate traditional payment systems once we have established the necessary reputation and transaction volume.

Our goal is to provide you with the best possible experience, and cryptocurrency payments allow us to do that while we build the foundation needed for future payment options.

How It Works

We currently accept USDC (USD Coin) on the Solana network. USDC is a stablecoin pegged to the US dollar, meaning its value remains stable and predictable. You can:

• Top up your account balance using USDC on Solana
• Pay directly from your Phantom wallet for instant transactions
• Use your account balance for quick and easy entries
• View all your transactions on the blockchain via Solscan