The Betswap.gg team has announced the testnet launch of its decentralized betting exchange on Feb. 2, 2022. This launch coincides with an invite program for community members to preview the technology and help with the testing phase.
What is Betswap.gg
Betswap.gg is the first truly multi-chain decentralized peer-to-peer betting sports exchange built on the Ethereum-polygon and other EMV-compatible blockchains, allowing users full transparency in making and taking bets on 1000’s of sporting and e-sporting events.
Betswap allows participants to be either a bettor or a bookmaker. Due to its decentralized nature and use of blockchain technology, many of the fees associated with sports betting are greatly reduced and the process is that much more transparent.
Unlike traditional sports betting where bets are placed against the house, at Betswap, it’s a peer-to-peer system, where users bet against each other, and the exchange acts as an intermediary marketplace for their bets.
Betswap.gg offers users the opportunity to take part in back-and-lay betting; to act as bettor or bookie.
The platform provides multi-chain integration as well as truly decentralized governance through a decentralized autonomous organization (DAO).
The BSGG token provides holders with a wide variety of functionality, including governance, staking, reduced fees, and much more.
BSGG is an ERC-20 token and acts as the centrepiece of the sports betting platform. As a multi-chain token, BSGG resides on the Ethereum, Fantom and Avalanche blockchains.
Testnet launch
Betswap’s testnet launch allows interested individuals to use the platform using test USDT’s that have no monetary value, and provide feedback to the team.
The testnet version 1.0 will initially have limited capability and will feature three key sports: football, basketball and cricket. Each week, additional sports like NFL, eSports, tennis etc.. and additional features such as multi-betting, order book, automated liquidity bookie pool, amongst others will be added to the platform to maintain a smooth rollout. Once the mainnet version is released, the Betswap team plans on making the platform code open-source and offer b2b integration with multiple providers.
The Betswap team has built and improved on their blockchain platform and will be granting access to their social channel followers starting Wednesday February 2nd 22:22 Eastern time (10.22pm Eastern Time). The team is actively looking to receive feedback to continuously improve the platform.
Feedback provided by community members brings valuable insight and may be incorporated into the final product. Once the platform has been fine-tuned, Betswap.gg will officially launch on the mainnet and allow users to bet using cryptocurrency.
The Betswap team
Betswap.gg’s founders and developers are verified via Certik KYC where they underwent a rigorous process of KYC and video certifications.
Betswap founding team has experience in blockchain, sports betting, igaming industry and financing background.
Additionally, the team has added on several key advisors and consultants in various capacities to help provide guidance and strategic direction for the platform and its development and launch.
These include:
- Hubertus Thornhauser: Tech- and Web3 Investor, Founding Partner Enabling Future VC, Tezos Foundation Chairman, co-founder Babil Games (acquired by Stillfront Group), +20 years Board roles and C-level in the gaming industry”
- Manoj Narender Madnani: Founder and CEO of DSA Investments, a global impact investment partner with various portfolio companies that provide solutions for humanity with a backbone of technology;
- Floris Weisz: experienced Sports Management Professional, having worked at IMG and Essel Sports Management, representing commercial rights for various celebrities and international football players.
Along with its team of developers and advisors, Betswap has also received significant backing from several prominent venture capital funds and investment firms, including:
- Shima Capital: an early-stage global venture capital firm that acted as a seed investor for 1Inch, Terra, and Chingari, as well as numerous other startups, producing some of the most impressive returns to its investors through active engagement with its companies and teams;
- Momentum 6: a venture capital and marketing firm created specifically to support and grow blockchain startups;
- DSA Investment: investment company that provides funding for high-potential startups, with active involvement in supporting its investments through its global network.
Additionally, the project also received an investment from Wonderland DAO in exchange for the distribution of BSGG tokens to the DAO’s 300,000 wallet holders.
Final thoughts:
With this testnet launch, beginning bettors and bookmakers can have a first look to get a feel for how the platform works before the launch of the mainet, in order to test it out with test cryptocurrency tokens that carry no monetary value.
The testnet launch will only be available for a limited time before the platform’s mainnet launch.
For more information on the launch or how to participate in the testnet release, visit the www.betswap.gg.
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