zerolossbetting What is Zero Loss Betting?

[GambleFi 0]

GambleFi DAO has a unique feature -  Zero Loss betting, which is effective thanks to a clever mechanism where the users’ investment is accumulated and staked for up to 2 weeks in the most rewarding staking pool available for the assets in question. At the end of the betting period the staking pool rewards will be distributed between the winning betters, while the losers receive their initial investment back, creating a zero loss betting system. The betting system is also directly connected to the DAO as 10% of the staking rewards go back to the protocol’s treasury.

 

News and updates:

The Zero Loss Sports Betting release timeline begins on the 25th of March and ends on the 11th of April, when the platform will be officially released on mainnet.
25th March: Sports Betting Platform Added to the Frontend (Inactive)

 

On the 25th of March the Zero Loss Betting Platform front end will be added to GambleFi’s dApp, where you’ll be able to view the new front end and get familiar with it before the platform is officially launched. While you may be able to navigate the frontend keep in mind that at this stage it isn’t connected to the smart contracts, so it will be purely illustrative.

 

27th March: Smart Contract Completion
The 27th of March will mark the official completion of our Sports Betting Smart Contracts, and the end of the hardest phase of GambleFi’s development. We’ve had to build the smart contracts and their logic from the ground up since there are no other projects quite like ours.

 

28th-31st March: Smart Contract Frontend Integration
On the 28th of March we will start the integration between our frontend and smart contracts, finally bringing the project to life.

 

31st March: Testnet Deployment
On the 31st of March we will perform the testnet deployment of our smart contracts and prepare everything in order to allow users to start the beta testing phase the next day.

 

1st-8th April: Community Beta Testing Phase
On the 1st of April (no, this is not an April Fools’ prank) you will finally be able to get your hands of the Sports Betting Platform on the Cronos Testnet, emulating the final product in order to find any potential frontend bugs that may need to be patched. This will be a great opportunity for us to work with the community and get a little bit closer, while using their support to ensure that the final product will be tried and tested at launch.
Users that join the Beta Testing Phase will receive rewards in BETIFY for each valid bug that they encounter and send over to the development team. Your contribution will be awarded.

From 9th April: Platform Debug
The development team will take some time to address potential frontend or compatibility issues that may arise from the Beta Testing Phase and will perform all of the last checks before deploying the smart contracts on Mainnet.

Third Week of April: Official Mainnet Launch
In order to give the right amount of attention to debugging and final smart contract check ups we are planning the official launch for the third week of April. The launch may be sooner than that if Beta Testing goes very well and there are no major issues that arise. Make sure to stay tuned to our social media channels to be one of the first there when the official launch happens.

Have a wonderful week and get in contact with us if you’re a devoted member that would like to support GambleFi during the Beta Testing phase. We’re extremely excited to see what the next few weeks have in store through GambleFi and we’ll put all of our effort in to bring the Sports Betting Platform to life.

Have a great day!