REEF by SQUID Networks - Get Paid to Play.

DEWI08

As Blockchain development is progressing, so does many new projects develop using this blockchain technology. Lately the rave on blockchain technology is integrating it with gaming systems for use and to allow users earn rewards for playing games. And another amazing gaming platform just launched and that revolutionary platform is REEF.

The gaming industry is ripe for new changes in the way transactions are made, as well as the power that players have over their in-game currencies. The rise of blockchain technology can provide multiple solutions for the gaming industry, as it can offer gamers a more transparent and decentralized way to engage with games and in-game assets.

According to some experts, blockchain technology will change the face of the gaming industry in the near future.Many game developers are already adopting blockchain with the launch of new dApps, or decentralized applications that use blockchain technology in gaming. Apart from the growth of dApps, the gaming community can look forward to new ways of managing their digital assets in their favorite video games.

Over the past decade, the gaming industry has been revolutionized by various new technologies, including Artificial Intelligence (AI), Virtual Reality (VR) and Augmented Reality (AR), all of which offer immersive gaming experiences. Blockchain technology is set to become the next big thing in the industry and may cause huge disruptions in the way developers and gamers interact and access their games and the digital assets attached to the games.

ABOUT REEF

Squid Networks Ltd is a technology company who aim to create a decentralized gaming platform called Reef by launching an initial coin offering (ICO). Reef will allow both gamers and developers to earn currency within the platform. We believe Squid Networks has the power to disrupt the £70 billion gaming industry by utilising blockchain technology and open the possibility for gamers and developers to earn Squid Tokens and profit from playing games.Reef will greatly increase the number of gamers worldwide that can earn whilst gaming by creating a decentralised gaming platform which will reward users with utility tokens (called SQUID tokens) for participation in the platform; Gamers will get paid to play and developers will earn a small percentage of tokens in the process as gamers play their games.This will be made possible through the unique Proof of Gaming (PoG) algorithm which will allocate tokens automatically to the gamers and developers.. The algorithm will allow for regular, consistent and secure payments direct to the user which is currently not found anywhere else in the gaming industry on this scale.

Reef will allow gamers to have the opportunity to directly interact with the game developers of the games they play on Reef. Reef will create the first meaningful review system which will use gamers rankings and in-game statistics to allow developers to differentiate between helpful and unhelpful reviews. This will ensure that gamers feel their opinions count and help developers improve their games.Reef aims to bridge the gap between gamers and developers and allow gamers to get paid to play.

They strive to allow gamers to have a direct impact on the games they chose to play through community voting whilst giving developers the chance to showcase their developments. They also want to break down the existing barriers to entry within the market and create more opportunity to interact with the community. Finally Reef want to increase the amount of gamers that can get paid for doing something they love, they aim to achieve this by introducing the native SQUID token.

The Features

1. Community Driven

Unlike other gaming platforms which limits the power of gamers, Reef intends to provide gamers with opportunities to control the platform. An example of this is the SquidProval feature, gamers will be able to vote for games to enter Reef platform. Gamers will also have dedicated space within the Squid Networks forums where they can interact with the rest of the community, directly contact game developers and share feedback.

2. Get paid to play

No other gaming platform today works like Reef will. Through the unique Proof of Gaming (PoG) algorithm, gamers will be able to earn SQUID Tokens by simply playing the games they enjoy the most. The PoG algorithm will automatically send 97% of tokens earned to the gamers wallet, and the remaining 3% to the corresponding developer.

3. Ethereum Blockchain Technology

ThIs revolutionary technology is used to store data and facilitate the transactions between the PoG algorithm and the user.

How It Works?

The platform functions firstly by game developers advertising their game to SquidProval, where it is judged by the community. If the game is voted into the platform, the developer must integrate their game with the Reef API to allow for themselves and gamers to be rewarded for playing their game. Gamers will then be able to earn SQUID tokens whilst playing the game on Reef and all rewards will be sent to their Reef Wallet which is linked to the Ethereum blockchain.

About The SQUID Token

The Squid Token is an ERC-20 token. Squid Tokens have been designed for use within the Reef platform; SQUID is the reward earned by gamers for spending time gaming on the Reef platform. This reward is automatically calculated by our Proof of Gaming (PoG) algorithm, which operates within the platform itself. This algorithm will also allocate 3% of the tokens earned by gamers, to the corresponding game developer(s). Squid Tokens use-case is based around gaming within the Reef platform.

Token Details

TICKER: SQUID

PLATFORM: ERC20

COUNTRY: United Kingdom

ACCEPTING – ETH

PRICE: 1 SQUID = £0.30

SOFT CAP: 22,750 ETH

HARD CAP: 77,697 ETH

TOTAL TOKENS: 9,125,000,000

AVAILABLE FOR SALE: 1%

KYC REQUIRED: Yes

WHITELIST: 17 JUN 2019 – 24 JUN 2019

PRE SALE: 17 SEP 2019 – 24 SEP 2019 (0.1125 GBP = 1.0 SQUID)

PUBLIC SALE: 17 DEC 2019 – 17 DEC 2019 (0.1425 GBP = 1.0 SQUID)

Token Distribution

The Benefits(WHY YOU SHOULD CHOOSE REEF)

As the platform will utilize the blockchain technology there will be heightened transparency between developers and gamers. Statistics and transactions are public, creating more trust and ultimately a more coherent market.Squid Tokens earned by gamers and developers will be exchangeable for other cryptocurrencies and fiat currency.

This will be possible by listing our coin on exchange websites.Once Reef is at a suitable stage of development, the gamers and developers will play an increasing role in the up keep of the system. Ultimately moving towards becoming a fully decentralized platform unlike anything in existence today.

Reef will have enhanced accessibility, the platform will have a user-friendly interface for both gamers and developers. Features such as tailored views and statistics will ensure users maximise their experience whilst using the platform.

Road Map

Q1 2017

Idea of Squid Networks conceived
Market research into the gaming industry, other gaming platforms and the blockchain

Q2 2017

Start up capital raised for initial costs such as whitepaper translation, SSL badge website hosting, advertising, and video creation

Q3 2017

Development of token and token sale smart contracts began on the Ropsten test network
Research conducted into market & concepts are tested. Findings recorded in a draft whitepaper

Q4 2017