I’m Romuald, CEO of BetSwirl.
We’d like to share a proposition and get the community’s voice, feedback and opinions.
Titano.finance and Sphere.finance decided to use BetSwirl’s games to add another gaming utility to their token, but most importantly a revenue stream used to boost their burning routine, so far:
- 15M $TITANO burned (~47K$) - from the 3rd of June to the 20th.
- 1.4M $SPHERE burned (~8K$) - from the 14th of June to the 20th.
Moreover, BetSwirl just announced its deployment on Avalanche…
By allowing $wMEMO’s holders to bet with $wMEMO on BetSwirl’s games, that’d generate revenue in $wMEMO from the games house edge, to:
- Boost TIME staking rewards with $MEMO (by unwrapping $wMEMO)
- Airdrop $wMEMO to current holders
- Your idea?
$wMEMO betting flow diagram
The rates are indicative here, we just did the same proposition than our other partners, it needs to be discussed.
Wonderland to deposit an amount on the bankroll, being owner of it: deposit, withdraw, risk rate, house edge harvesting, min bet amount, Chainlink VRF v2 subscription owner, Chainlink Keepers to automate the house edge harvest.
That might sounds over simplified but we’d like to get your general opinion about “enabling gambling wMEMO” and “utility for Wonderland”.
Thank you in advance,
Romuald, and BetSwirl’s team.
For me personal gambling is a welcome idea. It’s an opportunity for us to make passive income based on individual risk levels.The team should consider it as well as seek the opinion of other community members.
Audit status and amount required for this?
Couldbe a nice interesting novel way to burn some wMEMO
We’ve been audited, and another audit is under assessment by Certik.
With a bankroll of 10k$ worth of wMEMO, the max payout (bet amount + profit) at a 2% risk (based on our simulation there’s unlikely of bankrupt at this risk), would be 200$ per bet, which means a revenue for Wonderland of 3.5$ worth of wMEMO (considering 50% house edge for Wonderland).
This is a major conflict of interest and doesn’t make sense given we have a stake in Betswap, a leading competitor (with plans to have a casino/sports betting platform). Why not do the same thing with Betswap since we already own a sizable stake? Helping a competitor doesn’t make much sense when we hold so much Betswap.
Isn’t gambling on crypto prices enough?
Trying to keep this alive…
This is a brilliant proposal… we need to get more eyes on this. I didn’t notice it until right now.
Betswap is sitll in beta and this is not a conflict with Betswap’s business model, which is distributed bank-roll.
I’ve seen the games on sphere.finance and they’re mostly novel, very tiny minimums like (.001 AVAX or something), and hardly popular at all. What this does however, is generate some liquidity because of the cash flow stream attached to the token now…
Wen lambo? Increase income (token flow, cash) stream and the market will value that at a premium to market price (DCF). Do not get your underwear in a jam because you made an investment in another company in the same sector. Either you are bullish on the sector or not, you can’t hope for monopoly economics.
Are you saying BSGG was a bad investment because it’s gambling related? You are the TM. Your comments have some value, irrespective of the “acting” moniker in front of TM.
I don’t understand your comment here… are you being serious or sarcastic? Frankly, you should be speaking in more complete sentences. And avoid emoji use on board at all times.
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