On-chain Settlement
The fundamental objective of the AK Team is to revolutionize poker settlement by leveraging blockchain technology. The challenges posed by the substantial influx of user funds make it difficult for any centralized institution to maintain its original intentions. In the recent bullish market phase, we witnessed misconduct from centralized entities such as Luna, FTX, and 3AC. We firmly believe that adopting on-chain contracts is the most effective strategy to ensure the security of user funds.
AK Poker plans to introduce the USDT private games after establishing stable operations in the score-based private games. This will shift the responsibility of buy-ins and settlements to on-chain contracts.
1. Players in private games will deposit USDT to initiate the game, and the on-chain contract will lock the deposited funds.
2. The contract will track the total buy-in amount from each player and distribute USDT points in a 1:1 ratio during the game.
3. Players will engage in poker games using USDT points until the game's conclusion.
4. Upon receiving the contract, validate and settle using game data and hash, and send game-end messages.
5. The USDT belonging to each player will be returned to their respective on-chain address.
It is noteworthy that the entire process of the poker game described above eliminates the need for users to deposit USDT on a centralized platform. While this mitigates the risk of fund misappropriation, the proposed solution, though idealistic, raises several concerns:
The involvement of cross-chain assets and cross-chain messaging imposes security risks associated with cross-chain bridges.
Communication challenges between the poker client and the smart contract, along with potential security risks related to oracle services.
Inability to facilitate quick and successful buy-ins, impacting the overall user experience in private games.
Inherent security risks associated with the contract itself.
In addressing these concerns, we are committed to exploring various solutions from different perspectives:
1. Launching the AK application chain to circumvent cross-chain issues.
2. Implementing pre-deposited collateral to ensure a seamless and rapid buy-in experience.
3. Making game data transparent and immutable on the blockchain to mitigate platform manipulation risks.
4. Adopting a semi-decentralized approach by separating the user funds and business side.
5. Exploring State Channel solutions.
……
In Web3, there's a saying: “Code is law.” However, not all issues should be resolved on the blockchain. Over-reliance on the blockchain can give rise to other problems. We must carefully consider the systemic security risks of entrusting user funds entirely to on-chain contracts.
In addressing settlement concerns, and in addition to necessary technical measures, we will publicly share game data through a dashboard on our official website. This data will be made available to all AK token holders and hashed on-chain for verification. Safeguarding user funds is our mission, and Ak has neither the intention nor the capability to engage in malicious activities.
Items Sales & Services
For items, sales, and services that users may utilize in poker games, such as delay, card peeking, special emojis, real-time audio and video, etc., one can directly purchase diamonds through a deposit of USDT.
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