feature_image

The platform has also implemented a 10% reduction in fees due to optimisations done to the bank contracts and new games resulting in cheaper wager’s transaction gas and less Chainlink VRF fees charged to the users.

Betswirl - Staking, Audit, v3 Features Update and an interesting Partnership!

The goal of BetSwirl is to become the best DeFi gambling platform that is open and honest, non-custodial, licensed, trustworthy, and community-led. BetSwirl, in contrast to conventional blockchain casinos, seeks to offer new gameplay with storytelling, as well as aesthetically pleasing and creative designs.

Everyone can participate in fair play, have a good time, and have a unique gaming experience on BetSwirl. The developers are working day in day out to deliver top notch features, improvements and unparalleled partnerships adding to the growth of the platform.

What’s new?
First of all, BetSwirl has been audited by QuillAudit, a company that delivers enterprise grade blockchain technology to leading companies worldwide.

You can access the full audit report HERE.

The big announcement though, is that BetSwirl will integrate $BETS staking for users to receive a share of the platform’s dividends each week. The integration is being worked on by the innovative Web3 Development and Engineering team over at dappd.net and will be released later in September.

On top of all this, the team has been improving various facets of the BetSwirl website such as the new roulette animation as seen below.

A completely revamped and astounding Analytics page where you can see daily wagered amount per game, revenue breakdown as a chart and game details added to each game page.

The platform has also implemented a 10% reduction in fees due to optimisations done to the bank contracts and new games resulting in cheaper wager’s transaction gas and less Chainlink VRF fees charged to the users.

The bankroll management was also simplified, the manager is now able to access bankrolls directly within the dApp.

Some features have also been removed such as the Balance overflow management and the referral system.

The bankroll revenue allocation
With the revised Bankroll income allocation, 40% of the house edge goes directly back into the bankroll to help it grow while it also considerably lowers the bankroll extinguishing below the minimum for further play.

The BetSwirl x ThorFi Partnership

Through its agreement with Betswirl, ThorFI provides $THOR token holders with access to their games and a new source of income. In exchange for a piece of BetSwirls’ future AVAX partner protocol revenue, ThorFi is enhancing the liquidity on AVAX. Until they recover the initial investment, they will also earn an additional 5% return. As the first protocol to integrate Betswirl into the AVAX chain, ThorFi provides excellent support, particularly through quick transaction times and affordable fees.

The financial gain (partnering with AVAX and receiving the inherent advantage of Betswirl's "house edge" and a new utility product) is one of the leading benefits to ThorFi. Players will be able to access the casino-style games on BetSwirl using the $THOR token and any profits, plus a portion of the revenue will be utilized for buybacks, raising the price of the $THOR token.

You can access the ThorFi x BetSwirl platform right here

Some interesting statistics
BETS token

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

Dividends
Investors will be able to invest in BetSwirl and receive a percentage of the house edge through BETS LP staking, providing them with a passive source of income from the platform's real yield.

The following dividends will currently be paid out:

Conclusion
We can’t help but be thoroughly impressed by how fast the BetSwirl development team improves and expands on everything they have created. We are left but highly curious about what surprises they have in store for us next!

Project Links
Website - https://www.betswirl.com/
Docs - https://documentation.betswirl.com/
Telegram - https://t.me/betswirl
Twitter - https://twitter.com/betswirl
Medium - https://betswirl.medium.com/
Github - https://github.com/BetSwirl

Written By

Petrache Ionut

Sep 15, 2022