PayPal-killer SDK Converts Platforms to Web3 in 10 Lines of Code
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Venice, United States, 7th April, 2022, Chainwire
Algorand Foundation-backed project Smile Coin has released the public Testnet-version of their highly anticipated Web3 SDK. The SDK allows any Web2 platform to become a Web3 platform with only 10 lines of code. The SDK creates a payment gateway that enables gaming companies to accept payments and pay users out in $SMILE and gives users access to Smile Coin Network play-to-earn incentives.
By virtue of adding their financial transactions to the blockchain, players are automatically enrolled into the Smile Coin Network's dApp. The dApp gives users access to transaction analytics, unparalleled rewards for consecutive daily play on any in-network partner platform, up to 125% APY staking, mini-games, airdrops, and more. The effect of these incentives is a massive uptick in user retention and value, as evidenced by the first platform to integrate the private Mainnet version of the SDK: Grin Gaming.
Grin Gaming is the first platform to integrate the Mainnet beta SDK, and their results are nothing short of eye-popping. Grin has reported a nearly 1000% increase in revenue since integrating the Smile Coin SDK, and boasts a 32% 30-day retention rate for players who transact with $SMILE, smashing the industry average by 10x.
The team's motivation for building the payment gateway stemmed from a problem they kept hearing from gaming companies: "We are a federally and state-level legal business, but PayPal refuses to do business with us." As avid gamers themselves, they realized that Algorand's L1 DeFi protocol was the perfect tool for using the blockchain to allow gaming startups to efficiently monetize
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