What is BetProtocol (BEPRO)? All about Cryptocurrency BEPRO

By Nhan Ngo | Coins & Tokens

BetProtocol (BEPRO)

Continuing the coin & token series of Coin98, today I will introduce to you the BetProtocol project - a platform for building gaming and betting applications.

BetProtocol is a platform that allows entrepreneurs and developers to create gaming and casino platforms in minutes without programming. Thanks to BetProtocol's blockchain technology, these platforms are safe, scalable and compliant with the law.

The project's vision is to allow anyone in the world to be the owner of the game platform for one day.

BetProtocol was founded on the concept in 2017 from a team based in Portugal.

What is BetProtocol outstanding?

In this section, I will compare BetProtocol with other projects to see its outstanding solution.

High Wager TPS

Using scalable's solution Matic, BetProtocol allows users to play games quickly and smoothly.

At the same time, games on BetProtocol will not require users to make individual transactions and pay fees for those activities. This is often seen on other platforms. Thanks to this feature will increase the user experience.

Support for All Market Types

While most of the competitors focus on one game area (such as Esport or Casino), BetProtocol goes deeper and provides tools that allow developers to build any market where there is a. current face such as: Gaming, Casino, Sports ...

Thanks to the diversity and richness in the ecosystem, BetProtocol will attract a lot of developers and users to their platform.

Regulatory Compliant Approach

Currently, BetProtocol's competitors often do not comply with the rules when implementing online betting platforms. This easily leads to the risk of money laundering and illegal betting activities.

On the other hand, BetProrotocol approaches players and developers by complying with the current legal regulations. They allow game regulators to test and evaluate their platforms.

BetProtocol provides KYC / AML services to combat money laundering and betting in teenagers.

BetProtocol complies with existing standards and regulations. The project is committed to responsible, safe gaming and protecting both players and publishers.

Blockchain Independence

Most of BetProtocol's competitors today are less flexible as they are all Smart Contracts based Ethereum. These projects cannot scale to other blockchains that need to build their betting dApp ecosystem.

In contrast, with the use of Matic's scaling solution allows BetProtocol to be compatible with many different blockchains. Currently the project is working on and supporting many other blockchains.

Facilitate Traditional Operators

BetProtocol builds a connection between traditional game organizers (some examples of organizers are VNG, Garena, ...) and the decentralized game world.

This will help organizers access the decentralized game market. Also save a lot of money compared to hiring a server and managing it naturally, or signing contracts with game service providers. Organizers can resell BEPRO tokens when leaving the ecosystem.

By facilitating the organizers, BetProtocol's blockchain game market will capture a large share from the traditional market and save a lot of costs.

Wager Currency Agnostic

Projects nowadays require users to use project tokens to participate in games, bet, and pay for services on the platform.

In the short term, this is a good solution to boost demand for tokens and increase its value. However, in the medium and long term, it will seriously affect and cause the token to be divided. This is dangerous for low-cap platforms under $ 50 million.

For example: At the time of writing, BetProtocol's competitors all have a market cap of less than $ 50 million (except for Augur, which has a market cap of about 70 million). Suppose, in a match between Chelsea and Manchester United, an individual or organization spends 25 million dollars (to more than ⅓ or ½ of capitalization) betting.

If the platform requires the project's tokens to be used for wagering, the purchase of the above tokens will seriously affect its price. At the same time, if the bet wins, then they will sell the entire token to BTC or USDT. This will greatly affect the price of the token. Not a single investor wants to see that.

BetProtocol is different, the project allows users to use most of the tokens to place bets such as: BTC, ETH, USDT ... This will attract a lot of players to the platform.

BEPRO tokens are used as a gas fee in the system (as well as security masternodes, administrators, oracles) and do not force users to use BEPRO tokens to place bets.

Protocol Level SDK - Layer 2 Solution

BetProtocol believes that the success of the project depends largely on the success of the organizers and developers who choose to build dApps on top of the project. Therefore BetProtocol offers the most favorable conditions such as providing the best resources and documentation for the developer building the dApp.

If the developer succeeds with their dApp, then BetProtocol benefits from it too, the brand and reputation will be known by many other developers and organizations.

How BetProtocol (BEPRO) works

The BetProtocol platform operates under the following 2 models:

Business Model

BetProtocol will operate on a commission-based model and subscription fees:

  • Commission fee: 1 certain percentage of all deposits and wagering of revenue in Ether and Bitcoin from the betting applications on the platform will be collected as a commission for the use of tools, networks and services of BetProtocol .
  • Registration fees: This time-based fee will also be part of the business model and is designed to scale as the business and top applications develop.

In any case, BetProtocol's business model encourages entrepreneurs to scale their business while providing them with the tools and know-how to do it.

Economic Model

  • Activities are partly funded by BEPRO thanks to gas fees from the Operators.
  • Percentage % of BEPRO's gas fees revenue will go to Charity Fund and Operator Bootstrap Fund (Operator Bootstrap Fund).
  • Community will vote to decide who is the mayor of these two funds.

What is BetProtocol Token (BEPRO)?

BEPRO is the official cryptocurrency in the BetProtocol ecosystem built on the Ethereum blockchain according to the ERC-20 standard.

BEPRO token is launched on December 18, 12 through Private Sale.

Basic information about BetProtocol Token (BEPRO)

  • Ticker: BEPRO
  • Contract: 0x786001c9c5CA6E502dEB8a8a72480d2147891f32
  • Decimal: 18
  • Blockchain: Ethereum
  • Token Standard: ERC-20
  • Token type: Utility Token
  • Consensus: Proof of Stake (PoS)
  • Total Supply: 10,000,000,000 BEPRO
  • Circulating Supply: 1,825,000,000 BEPRO

Token Allocation

With a fixed total supply of 10 billion tokens, BetProtocol's development team has allocated 7 into parts as follows:

  • 2.575 billion tokens are held by the Foundation.
  • 2.2 billion tokens allocated to development Ecosystem (ecosystem).
  • 2.1 billion tokens are held by Team.
  • 1.5 billion tokens for Private Sale.
  • 1 billion tokens used as Bootstrap funds.
  • 600 million tokens allocated to Partners & Advisors.
  • The remaining 25 million tokens are for Public Sale.

Token Sale

The project held a token sale through 2 rounds:

Private Sale

BetProtocol has raised more than $ 3 million by selling 1.5 billion tokens in November 11 led by NGC Ventures with the participation of many big names such as CMS Holding, BlockGround Capital, Shilling Capital Partners ...

Price: 1 BEPRO = $ 0.002.

Public Sale

This round of sales organized by BetProtocol and Matic Network sold out 25 million tokens and raised $ 400,000.

Price: 1 BEPRO = $ 0.016.

Token Release Schedule

Below are details about the project's token unlocking:

  • Foundation: 20% will be unlocked within 24 months after TGE (Token Generation Event) + 20% every 3 months until the end.
  • Ecosystem: 20% will be unlocked in 12 months after TGE + 20% every 3 months until the end.
  • Team: 20% will be unlocked in 15 months after TGE + 20% every 3 months until the end.
  • Private Sale: 20% will be unlocked after Listing + 80% remaining in the 90 days after Listing.
  • Developer Bootstrap Fund: 15% will unlock after Listing + 15% every 3 months until the end.
  • Partners & Advisors: 20% will be unlocked in 6 months after Listing + 20% every 3 months until all.
  • Public Sale: 100% will be unlocked after Listing.

Below is a graph of token distribution:

BetProtocol (BEPRO) rate today

What is BetProtocol (BEPRO) used for?

Gas

BEPRO token is used as a Gas fee in BetProtocol's network.

Besides, when developers want to build dApps, they need to buy BEPRO tokens to pay registration fees.

Governance

Users who own BEPRO have votes to decide the development of the project, add dApps to the platform, dispute ...

Payment

BEPRO is used to pay, bet, play games on applications within the BetProtocol platform.

Commission

The platform and dApp owners share commissions from users when they place bets within the network.

Oracle

BEPRO token is used to participate in the evaluation of whether Oracle data is true or false.

Staking Reward

BEPRO token is used as a reward for Masternodes participating in confirming transactions on the network.

BetProtcol storage wallet (BEPRO)

Recently, the project has launched its own mobile wallet to store BEPRO tokens. The wallet supports both Android and iOS. You can download it here.

Also, you can choose Coin98 Wallet to be saved.

Coin98 Wallet: This is a multi-chain wallet product of the team of Coin98 Finance. Allows storing most of the tokens of popular blockchains such as Bitcoin, Ethereum (ERC-20, ...), Tron, Binance Chain (BEP2), TomoChain (TRC-20).

So with BEPRO token in the form of ERC-20, you can store it on Coin98 Wallet safely and conveniently.

Where to buy and sell BetProtocol (BEPRO)?

After nearly a year of launch, BEPRO token currently stands at 662 position on CoinGecko and is traded on many different exchanges such as: KuCoin, Bilaxy, Uniswap, BitMax.

The average total trading volume over the past 30 days has been around $ 446 thousand. That has shown liquidity BEPRO tokens are quite poor at the moment.

The Future of BetProtocol Copper (BEPRO)

Market potential

Expected revenue from eSports and casino market will reach 1598.2 million USD. This is an opportunity for BetProtocol to take a part in this potential market.

Competitors

In the above section, I have compared the technology of BetProtocol and projects with the same solution, you can review.

It can be seen that BetProtocol is much superior to the rest.

Should you invest in BetProtocol (BEPRO)?

I believe you guys have come to know the basic and necessary information about BetProtocol copper (BEPRO) after reading this paragraph.

I will note some main ideas for you to easily make investment decisions:

Roadmap

The project does not update the roadmap but still regularly and constantly updates the announcements on Telegram and Twitter.

In the coming time, the project will integrate more platforms into the network and launch many attractive applications. Let's wait and see.

Ecosystem

It can be said that BetProtocol's ecosystem is very rich and diverse from games to streaming platforms, wallets ...

Some prominent names such as: BitGo, GetStream, Pandascore, KYC, Sendinblue ...

PRODUCTS

Currently, some outstanding products of the project are Mobile Wallet, Slots games ...

Partners

BetProtocol has many famous big partners such as: KuCoin, chainlink, Elrond, Matic, NEXO, OKEx, Band protocol, BitGo ...

BetProtocol's partners have detailed articles on Coin98.NET. You can search and refer to more.

Token

BEPRO is a Utility Token used for the purposes of Governance, Payments, Gas, Commission.

Summary

Hopefully, my last article has helped you to have a better overview of the BetProtocol project as well as the BEPRO coin.

And you guys, what do you think about the token after reading this article? Please share your opinion in the comment section or inside Coin98 Finance.

Goodbye and see you in the following article.

Nhan Ngo

The further you look into the past, the further that you can see into the future.