True Flip

History & Founding

True Flip was founded in 2016 in Moscow, Russia, by Konstantin Katsev and Dan Andrianov. The company began as a single‑game blockchain lottery with daily draws, leveraging the transparency of distributed ledgers to provide provably fair outcomes. In July 2017, True Flip conducted a successful token crowdsale, which funded a massive 400 BTC jackpot that continued to grow with each ticket sold. By the time the company entered the slot market, it had amassed more than 170,000 registered users.

Products & Platforms

True Flip operates its primary consumer casino at trueflip.io, where players can wager using Bitcoin, Ethereum, Litecoin, and other cryptocurrencies. The company’s key products include: - True Flip Lottery – The original daily‑draw lottery game. Players purchase tickets using crypto, and a provably fair random number generator selects winners. The jackpot is funded by ticket sales and has historically been advertised at 400 BTC. - Chain’s Code – A single‑line slot machine launched in a 2018 press release. Bets start at 0.000020 BTC and can reach up to 5 BTC as a super prize. Draws occur every 10–15 seconds, making it the fastest game in the True Flip portfolio. The slot uses a built‑in multiplier and is based on a provably fair blockchain solution. - True Flip Affiliates – The official affiliate program, where partners can earn commissions by referring new players to trueflip.io. - B2B Solutions – True Flip offers self‑developed white‑label products and operational tools for iGaming operators, affiliates, and integrators. These include customizable game engines, settlement APIs, and marketing support.

Technology & Fairness

True Flip’s core differentiator is its use of blockchain technology for transparency. The company publishes its source code on GitHub and employs smart contracts to handle random number generation, ticket purchases, and prize distribution. Payouts are processed in one second—a claim verified by user reviews on Trustpilot. All payouts are made in Bitcoin, regardless of the cryptocurrency used for deposits.

Leadership & Team

The current key executives are co‑founder and CMO Konstantin Katsev, co‑founder Dan Andrianov, and COO Nikita Parkhomenko. No CEO, CTO, CFO, or other C‑level officers were explicitly confirmed in available sources. Headcount is not publicly disclosed, but the company is estimated to be a small‑to‑medium‑sized operation given its niche focus.

Licensing & Regulation

True Flip’s licensing status is not publicly disclosed. The company appears to operate under Costa Rican jurisdiction based on the statement “Costa Rica Chain’s Code features…” in a press release, but this likely refers to the game’s reception or testing venue rather than an official license. No regulator or license number was found.

Financials & Revenue

The company’s revenue and funding details are not publicly available. Its crowdsale in July 2017 is the only fundraising mentioned. The jackpot pool reached 400 BTC, indicating significant player deposits, but exact financial figures are not disclosed.