The two popular niches in the crypto market are play-to-earn and meme coins. GambleFi coins pose a fierce competition to them in 2024. Focused on the decentralization of casino and sports betting contests, these cryptocurrencies have high growth potential.
They maintain a strong edge against traditional online gambling with better transparency and fairness of operations. A GambleFi project has become a viral sensation this season. It’s not Stake.com or Rollbit.
It is a new project called Insanity Bets ($IBET), which doesn’t just raise the industry standards in gambling, but also offers a range of passive income opportunities based on revenue sharing.
GambleFi is Growing – What Does it Mean for Crypto Investors?
GambleFi denotes the crypto side of the online gambling market. They are featured by blockchain-based contracts, which make them less prone to manipulations and fraud. They have won the attention of users for their transparency as well as decentralization.
With the online gambling industry’s projected Compound Annual Growth Rate (CAGR) of 8.54% until 2027, GambleFi is looking at a bright road ahead. It is expected to claim a considerable portion of the traditional market. Investors are flocking to GambleFi tokens to seize the opportunity.
Like traditional gambling houses, GambleFi platforms use statistical advantages to ensure profitability (where “the house always wins”). By decentralizing its investment opportunities, Insanity Bets allows all investors to benefit from its growth, regardless of their budget and technical skills.
Passive income opportunities have also fueled the GambleFi sensation, starting from 2023, following Rollbit’s rapid climb up the charts even during the bull run. Although Rollbit’s growth has largely plateaued in 2024, promising projects like Insanity Bets leave plenty of room for returns to early investors.
The More You Stake, the More You Earn
Instead of merely copying existing platforms, like most of the market does, Insanity Bets puts forward some excellent value propositions that can raise the industry’s standard. It focuses on establishing credibility and relevance in innovative ways, right from the beginning.
In addition to a large and diverse gambling platform that offers casino, sports betting, prediction market and lottery contests, the project offers attractive sources of passive income.
To begin with, the native token $IBET offers investors real yields through staking. These rewards aren’t vaguely tied to tokenomics. They come from a revenue-sharing model tied to trading fees, ILP fees, and game-winner fees.
The next is $ILP tokens, which are another valuable asset on the platform. Users can mint them using various popular cryptocurrencies like USDT, ETH, $WBTC, and $IBET over time. Initially, only USDT will be used for minting.
The pooled assets from minting $ILP tokens will be used to manage the platform’s house fund for winners and losers. Since liquidity is crucial for a frictionless gambling platform, the $IBET liquidity pool ensures scalability on Insanity Bets. It allows for larger bets and user bases.
What’s in It for $ILP Holders?
Why would users mint $ILP tokens?
Because that’s how they become the house. They get 90% of the house’s profits (and losses) from games. But the chances of loss are slim, given the provably fair house edge ranging from 1% to 5%. The concept that the house always wins in the long run makes the opportunity highly attractive.
The rewards from $ILP are distributed in stable coins like $USDT. $ILP, being a single-sided asset, is not prone to impermanent loss. In addition, it implements a maximum bet size to maintain platform stability and prevent a ‘bank run.’ The growing $TVL (total value locked) of $ILP will support larger bets.
More Passive Income Channels
$IBET makes use of an internal swap mechanism similar to GMX to generate staking yield. It has multiple derivatives to ensure the platform’s long-term growth and sustainability.
The first of these is $sIBET, also known as staked iBet. It acquires 35% of all fees generated on the platform and can be exchanged for $IBET.
Next up is $bIBET. Short for burnt iBet, the token can only be created by permanently removing $IBET from the circulating supply. $bIBET holders get 50% of the fees.
Finally, $esIBET, or escrowed iBet, works as a staking derivative that is automatically rewarded to $sIBET holders. It allows users to compound their staking rewards automatically.
Short Presale Window Open – Team Vesting Protects Investor Interests
50% of the $IBET supply, amounting to 2,500,000,000 tokens, is reserved for the ongoing presale. The massive allocation’s goal is to make early investors and supporters the largest holders of the supply. Through staged presale discounts, it offers them an appealing entry point into the project. The earlier an investor joins the presale, the higher the discount.
The funds raised from the presale will be used to implement the project’s promising roadmap. Since the team allocation comes with an 80-week vesting schedule, they are committed to the long-term success of the project. In other words, the project has high credibility and growth potential.
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