ChainBet’s verifiable games and Bankroll functionality will integrate with Polygon to create the ultimate DeFi betting protocol.
ChainBet will be launching on Polygon in the month of May. The decentralized betting protocol will leverage the Polygon commit chain to bring truly trustless betting to Polygon. Bankroll and veBET tokenomics will allow for users to earn when the House earns. ChainBet lets you choose whether you want to beat the house or be the house.
Since ChainBet is non-custodial, they count on low transaction costs and quick transaction speeds for their games to function properly. Polygon has both of these and is the perfect chain for the initial ChainBet Protocol Launch and BET sale. Polygon has seen massive growth and will give ChainBet the tools required to be successful as a DeFi Application.
ChainBet will first bring its permissionless, trustless, and decentralized betting protocol to Polygon. This will allow users on Polygon to stake a Bankroll by depositing liquidity for their supported token of choice and receiving a portion of profits generated by the betting protocol. Users may also stake BET tokens to receive a portion of the House profits.
ChainBet will integrate contracts on Polygon to allow users to play games such as Dice Roll, Roulette, Crash, and more all with their favorite token! ChainBet utilizes Chainlink VRF to verify results so there is complete transparency. ChainBet also gives users the ability to become the House by investing either into a chosen token’s Bankroll (MATIC for example) and/or by staking their BET token.
ChainBet launched its application on the Polygon testnet on April 15th and saw a huge number of participants and truly stress-tested the network while confirming the validity of their contracts. The initial ChainBet token sale will happen on the 25th of April, allowing for everyone to earn yield from the betting protocol. ChainBet plans to expand liquidity available on Polygon and consistently improve the betting protocol as they gain new users on the Polygon chain.
ChainBet is reimagining the gambling industry by building the world’s best On-Chain Betting Platform. Designed and developed via the Ethereum Virtual Machine. This means the ChainBet protocol is set up and ready for cross-chain deployment. ChainBet leverages a community-owned bankroll, allowing anyone to become the House and share in the spoils. ChainBet then distributes earnings to its community, who steer the protocol through their governance token.
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 7000+ applications hosted, 3.4B+ total transactions processed, ~135M+ unique user addresses, and $5B+ in assets secured.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp, get started here.
Source : cryptodaily.io