BetSwirl Volume 3

Revenues and incoming Real Yield passive income for Stakers, new features released, new partnership, added liquidity, gas optimizations and more…

News

  • As stated, our users will be able to stake BETS LPs in order to receive a share from the weekly payouts of the platform as dividends. The Web3 Development and Engineering team at dappd.net is presently working on the integration, which will be made available later this month.
  • QuillAudit, a company that provides enterprise-grade blockchain technology to top businesses globally, has audited our platform. The complete audit report is available HERE.
  • Thor.finance purchased BetSwirl’s white label solution, offering THOR token holders access to our games and a new revenue stream through for both protocols (65% for ThorFi, 35% for BetSwirl’s ecosystem). They will also receive a further 5% return up until they recoup their initial investment as they provided liquidity (c.f. below).
  • ThorFi bootstrapped the BETS Avalanche liquidity in return for a portion of BetSwirls’ future dividends distribution (via staking). They’ve contributed 25k$ to add 50k$ liquidity on TraderJoe, so each party owns half of the BETS-AVAX LP. BetSwirl’s treasury was used to provide the 25k$ of BETS.
  • We have updated the roadmap with some exciting upcoming features: New games (Keno, PVP battle, Prediction markets), improved simulation model and a Dune dashboard.

Analytics so far

The following data could be retrieve from our Analytics dashboard. Totals in $ are calculated with today’s tokens market prices.

BETS token

  • Circulating supply/Market cap: 3b BETS (210k$)
  • Liquidity on all chains: 915m BETS (64k$)
  • Holders: 1.1b BETS (76k$)

Revenues since launch

From the house edge allocations: bankroll, treasury, dividends, and team. It doesn’t include partners profits which are significant.

  • On Polygon: 13k MATIC, 7m BETS, 4.9m SPHERE, for a total of 23k$.
  • On BNB Smart Chain: 20 BNB, 3.4m BETS, 67m TITANO, for a total of 80k$.
  • On Avalanche: 242 AVAX, 5.5k THOR, for a total of 6.5k$.

Some of those profits were already used to top-up the bankrolls, pay development, and marketing.

Dividends to be distributed

BETS LP staking will allow investors to become a part of BetSwirl and share a % of the house edge, giving them a passive income from our real yield.

So far, the following dividends are to be distributed:

New features

New Roulette animation

Revamped Analytics page

  • Now showing the daily wagered amount per game
  • The revenue breakdown is shown as a chart
  • Games details will be moved to each game page
THOR bankroll analytics

Bankroll revenue allocation

With the new Bankroll revenue allocation, 40% of the house edge go straight back into the bankroll in order to help it grow but also according to our simulations significantly reduce the Risk of Ruin.

10% fees reduction

Due to optimisations we did on the new games and bank contracts:

  • Cheaper wager’s transaction gas.
  • Less Chainlink VRF fees charged to player.

Bankroll management simplified

The bankroll manager (BetSwirl or partner) is now able to manage the bankroll(s) from the dApp.

More decentralized

In order to prevent denial of payout, we’ve further decentralized some bankroll functions. For instance, the bets have to be paused and all pending bets have to be resolved, in order to withdraw funds from the bankroll.

Deprecated features

  • Balance overflow management: we’ve added an house edge allocation to give revenue to the bankroll automatically rather than via the balance overflow.
  • Referral program: Due to a lack of usage, and because the referral program was intensive in gas.

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BetSwirl.eth

BetSwirl.eth

Online cryptocurrency gaming platform, fully decentralized and anonymous, where everyone enjoys a fair play.