Published Nov 28, 2021 10:30AM ET
There’s a New Leader in the Sports Gaming World
Sports betting is a standard affair in the world of gaming and sports. But now, with its advent into the blockchain, the industry is about to take on an entirely new twist. It starts with the launch of Betswap.gg. Betswap.gg is a decentralized betting exchange based on Ethereum’s layer 2 blockchain. It is the first legitimate rival to the world’s dominant betting exchanges, allowing any consumer, wherever in the world, to instantly connect their MetaMask crypto wallet and bet on any sport with the same odds as the major players. It doesn’t require a name, email, or phone number, and transfers are instantly credited and debited.
The essence of Betswap.gg lies in demand amongst the worldwide betting community, which has long struggled with limited access to betting platforms, lengthy waiting times, and difficulty transferring fiat currency back and forth from their banks. Betswap.gg is a Decentralized Autonomous Organization (DAO), implying it is not regulated or managed by a central management team. It is based on pre-programmed and locked smart contracts that run the DAO fairly and transparently.
Betswap.gg uses cutting-edge technology to offer clients a product that is both competitive and efficient. It also makes use of cutting-edge matching engine technology to connect makers and takers all over the world. It allows bets on all athletic and e-sporting events to be put through a third-party oracle, providing liquidity for all major sporting events.
Bettors and bookmakers can also join the Betswap.gg platform without the restrictions imposed by centralized exchanges, allowing users to be free of typical betting exchange limitations. It provides a limitless universe for sports traders, spread bettors, and arbitrage hunters, as well as retail punters. Thanks to a decentralized, trustless, and irreversible blockchain system, it offers a seamless, borderless meta-universe with fair odds.
Throughout the user experience, Betswap.gg never takes custody of its users’ funds, allowing them to use their crypto funds for other reasons at all times. This DAO ultimately distinguishes itself from traditional betting organizations. There will be no unreasonable multi-million-dollar pay packages for the founders, nor will there be an extraordinary executive or board dividend or incentive.
Betswap.gg plans to redistribute the majority of its revenue (excluding operating costs) to token holders through a regular token buyback and burn program, with the long-term goal of reducing the total outstanding token count by 90%, increasing demand for the remaining tokens, and increasing value for all of its users and token holders.
Rather than boardroom executives solely interested in benefiting, users are the key components to running a truly decentralized network. This improvement in technology has successfully shifted the likelihood to their advantage. This new blockchain operating model will have a tremendous impact on the betting industry as a whole. The democratization of online betting could shift the industry from a centralized to a decentralized model.
Driving technological innovation, removing geographic barriers for users, and allowing the exchange’s benefits to be shared by the loyal community and protocol users, Betswap.gg is en route to revolutionizing the sports betting industry.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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Written By: CoinEdition
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