What is BetDEX?
BetDEX is the world’s first decentralized sports betting protocol, combining blockchain technology with sports betting, with the aim of transforming consumers’ sports betting experience.
you are watching: What is BetDEX? Detailed information about the project BetDEX
In 2020, the global sports betting market is worth 203 billion USD and is forecast to grow to 350 billion USD by 2024. Despite the huge size, popularity and potential of the betting market. sports betting, it is characterized by incumbents charging high fees and offering minimal product innovation.
So how did BetDEX deal with and approach this market, let’s find out some special things from the project.
BetDEX What’s special?
With that in mind, BetDEX takes the opposite approach, with a protocol that is built on a public blockchain like Solana and will offer consumers extremely fast and low-cost transactions, at the same time. while eliminating counterparty risk.
The protocol will be fully decentralized and open source, allowing third parties to build their own applications and innovate on top of the platform. BetDEX plans to accept staking in USDT, SOL and SAMO at launch.
Third parties will be able to use BetDEX’s back-end infrastructure to run their betting platform. BetDEX says its protocol will charge 1% less on net winnings, putting down centralized competitors like FanDuel and DraftKings, who typically charge 2%-5%.
BetDEX does not hold any player funds, all player funds will be in their wallet. If the user places a suitable bet, a transparent, verifiable escrow contract will be created on the blockchain, which will settle based on the event outcome and transfer funds accordingly to the winner.
There is currently no information about the project’s tokennomics. The team will update as soon as information is available to you.
- Ticker: TiTi.
- Blockchain: Solana.
- Contract: Updating…
- Token Standard: SPL.
- Token Type: Utility, Governance.
- Circulating Supply: Updating….
- Total Supply: Updating…
Token Release Schedule
Token Use Case
BetDEX token On which exchange is it traded?
Storage wallet BetDEX token
Can be stored on Coin98 Wallet.
Enter Coin98 Wallet Referral ID as “C98NBDN89Q” to support BTA.
BetDEX is based in Scotland and was built by many of the founders and early employees who built the multi-billion dollar sports games company FanDuel.
The company is led by 3 former executives of FanDuel, which holds a 36% share of the current online sports betting market. Nigel Eccles, who serves as the non-executive chairman of BetDEX, is the Co-founder of FanDuel and served as the company’s CEO.
BetDEX raised $21 million in a seed round to create a decentralized global sports betting protocol.
Exchanges FTX and Paradigm led the round, which also included participation from Lightspeed, Sino Global Capital and Solana Ventures.
Hope the basic information about the project will help you get an overview of the project and please consider the article for reference purposes as it is not investment advice.
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