Imagine being part of the property of the major sportsbooks like William Hill or Bet365. For most of us, this will remain just that, stuff of the imagination. Well, not for long. Not with blockchain technology, through the recently launched decentralized gambling platform Chipz, which continues its major disruption in the betting and gambling sector.
Chipz will allow users to become bookmakers for sporting events and own part of the platform once it is fully decentralized.
How will Chipz work?
The Chipz ecosystem will run through its ERC-20 utility token, known as CHPZ. The CHPZ token will be used to create sports betting and participation offers on the platform through smart contracts. Furthermore, all winnings from wagered bets will be deposited into users’ wallets at CHPZ.
Once a user already has CHPZ in their preferred ERC-20 wallet, Chipz offers multiple avenues to earn more CHPZ on the platform. For starters, you can become a bookmaker, where you create events with multiple outcomes and allow bidders to bet on their preferred outcome. Bettors will pay you a flat fee in CHPZ.
On the other hand, a user can bet their CHPZ on sports and e-sports events listed on the platform through the Chipz oracle explorer. If your bet outcome wins, the smart contract distributes your CHPZ winnings to your wallet automatically.
Be part of the governance of Chipz
According to Chipz’s roadmap, the ultimate goal of the developers is for the platform to achieve true decentralization. The CHPZ token will be used as the governance token. Here, users who bought CHPZ tokens in the early stages of the platform, as well as verified bookmakers, can become part of the Chipz platform decision makers.
As a CHPZ holder, you will be able to post and vote on the platform’s proposals and future rates. Additionally, verified bookmakers (highly rated and trusted Chipz users who have earned a reputation for creating trustworthy bidding instances based on Chipz oracle explorer sporting events) will be able to create multiple results on virtually anything beyond Oracle data. .
Therefore, verified bookmakers will participate in the governance of Chipz and create events on absolutely anything with an uncertain outcome that bidders can bet on.
Even better, Chipz developers claim that verification of bookmakers does not involve asking users for KYC. Rather, the platform will attach a user’s wallet address to their bookmaker profile and then monitor the profile based on the bidding instances they set. In addition, bidders will be able to vote against or in favor of a bookmaker, thus maintaining responsibility in the Chipz community.
Where to buy CHPZ today
Early adopters of the Chipz platform, both bidders and bookmakers, will be rewarded with CHPZ tokens once the platform achieves true decentralization.
Fortunately for interested investors, Chipz is still in its first version; therefore, having CHPZ today makes them an early adopter. Currently, you can buy the CHPZ tokens on Bounce as a pre-sale investor at $ 0.03 per token. There are 15,000,000 CHPZ listed for public presale.
You can also wait for the CHPZ public listing on Uniswap scheduled at 6 PM UTC on August 6, 2021 and buy the token at $ 0.05 per token. The platform plans to include 10,000,000 CHPZ in Uniswap.