Mistakes past betting cryptocurrency projects have made include creating complicated procedures which mean these apps are rarely played due to their difficulty to use. This includes having to interact directly with the contract on Etherscan in order to facilitate a bet. Therefore, we’re taking an iterative approach.
For phase one of the Vanilla betting dApp, this will be simply head-to-head bets, run on Matic Network. This will allow consumers to bet on anything they want, select an event, and/or manually write what they want to bet on.
They can then either make this bet public or private. For private bets, they can choose a specific user to match the bet. Or, they can make it public, and if someone likes the look of the bet, they will match it! So very social, and hopefully quite fun.
The key takeaway here, there are no commissions charged to the consumer, and they will not incur any gas fees due to the innovation of Matic-based protocols, nor will they need to worry about changing their metamask wallet settings as it remains completely agnostic! This should really appeal to anyone in the cryptocurrency space due to the ease of use!
Phase two of the betting dApp will allow users to create their own betting houses — this is for known events that are scheduled. Such as a soccer match, Man Utd vs. Liverpool. The user will then provide liquidity for the bet they want to issue, and determine their own odds. As they are providing liquidity, they will be offered staking rewards from doing so.
Therefore, this becomes a wider extension of the platform and builds on the usability of phase one. Of course, we will always listen to consumer feedback and they’re can be changes made as appropriate.
We believe this is a huge untapped market in the cryptocurrency space which can be continually be developed and remain as the “hub” for all of our future social games! Keep looking our for announcements as the highly anticipated release date for this product is June 2021!
Visit https://vanilla.network/ to know more!
Don’t forget to join our official Telegram channel: https://t.me/Vanillafinance