Quinto S.A. ("Quinto") is a provably fair gaming system, built upon the explosive growth in online gaming, particularly on mobile devices, and has created a streamlined system for the lottery, dice, and bingo games. Quinto's Lottery and Bingo games are also 100% pari-mutuel and this allows Quinto to offer enticing jackpots within these games.
Our token is neither a security or utility token but designed as a sponsorship (event-driven backer) token. The majority (80.00%) of funds raised are kept in a cold wallet ("Escrow") to ensure the ability to pay jackpot winners. However, Quinto will be purchasing event-driven insurance against the first QuintoBTC Lottery (based on fiat amount). Because of the volatility of Bitcoin, Quinto is unable to secure event-driven insurance based on Bitcoin.
Sponsor liability is reduced upon each wager within any game, and a fee percentage is charged to the jackpot pool based on the probability of a game for reimbursement to the sponsors. Sponsors will continue to receive percentages of each jackpot as an incentive until all jackpots become self-funding for two consecutive games.
100% of QSA token distribution is for sponsors, as there are no tokens reserved for staff or administrators. Use of funds is simplified – 80% is held in escrow for guaranteed jackpot payout and 20% is administrative use to secure additional jackpot insurance and finalize the development of our gaming software.