Episode 3: The BETS token
There is no DeFi without cryptocurrencies and that is why we talk about BetSwirl’s token. Written as $BETS, this token is the native token of the BetSwirl ecosystem and it was designed to serve a variety of uses. We will discuss its tokenomics later but before then, you will very probably be thrilled to learn about it starting with its multiple uses.
A Utility Token
Once connected on the BetSwirl platform, $BETS holders will be able to play, get some cool in-game bonuses, buy NFTs, and so on. Should you just want to hold and stake $BETS, you’re welcome too. As a matter of fact, you’ll earn a share of all BetSwirl’s profits. And if you’re hardcore about BetSwirl — and we’re sure you’ll be — you can vote, make your voice heard, and influence the platform’s future as holding the $BETS token empowers you to do so!
In a nutshell, you can do the following with $BETS:
- Play all games on the BetSwirl platform with it.
- Stake it long-term and earn a share of BetSwirl’s profits.
- Get exclusive NFTs only purchasable with $BETS
- Vote, make suggestions, speak out, and influence BetSwirl’s future.
- Just hold and appreciate its deflationary mechanisms
- Send it to your friends as a gift!
A token at the heart of the protocol with multiple utilities to increase volume usage and reward liquidity provider
An advanced inflation management following an inverse exponential function. All tokens distribution are vested monthly during multiple months
- Team allocation: Lock 3 Months — 10% every month afterward
- Marketing: 10% at TGE and 10% every month afterward
- Advisors: 10% at TGE and 10% every month afterward
- Strategic Sale: 10% at TGE and 10% every month afterward
- Private Sale: 10% at TGE and 10% every month afterward
- IDO: 25% at TGE and 25% every month afterward
Treasury and project development tokens allocations are locked and can be only unlocked via governance
A protocol Owned Liquidity Strategy
- 90% of the IDO will be put in liquidity and locked for the long term.
- An essential part of the treasury fund that receives dividends on each game is used to buy back BETS, add liquidity and lock it. This will guarantee a continuous increase in liquidity and, thanks to frequent locks, an immobilization of part of the token supply.
- We’ll also have an incentive for liquidity providers with a dedicated pool in our staking system to earn passive income from the protocol fees.
Multiple Deflationary Mechanisms
To counterbalance the inflation of the first months and to make the token deflationary in the long term, we are implementing several token buybacks and burn mechanisms:
- BuyBacks and burn with revenue from the games
- BuyBacks and burn after each Million jackpot draw
- Burn after each purchase of NFT (NFT will be only purchasable in BETS)
- BuyBacks & Burn with 50% of the NFT royalties
Multiple Incentives for Stakers and Holders
- To reduce the selling pressure and immobilize a part of the community-owned supply, we will share the main part of the protocol revenue (between 40% and 50%) to stakers.
- Loyal holders and stakers will gain free million jackpot ticket
- Website: https://www.betswirl.com
- Whitepaper: https://documentation.betswirl.com
- Games: https://app.betswirl.com
- Telegram: https://twitter.com/betswirl
- Twitter: https://twitter.com/betswirl
- Github: https://github.com/betswirl