DefiXBet, an innovative project based on Solana, Chainlink VRF and Binance Smart Chain ecosystems is taking the DeFi-powered online gaming industry to the next level. The multichain platform holds the distinction of being one of the few clean, transparent, secure and anonymous betting platforms in the market.
The DefiXBet platform enables users to overcome various issues that are prevalent in centralized gambling applications that put them at a disadvantage, and sometimes even at risk. Most conventional casino platforms rely on the game script to enable various functionalities, these scripts can be easily manipulated to work against those who are placing bets on these applications. By using blockchain technology and DeFi features, DefiXBet is turning these scripts into smart contracts to make online gambling a worry-free and rewarding experience.
Increased Transparency Contributes Toward Trustworthiness
The extensive use of smart contracts and DeFi features ensures that each step of the gaming process is completely transparent. Users on DefiXBet can play their favorite games, whenever and from wherever they want to put their skills and luck to the test and make an earning while at it. These very features impart peer-to-peer gaming compatibility to the platform where users will be betting against each other rather than bookmakers, as in the case of centralized gambling platforms. In this model, players are free to bet against the odds of other player’s bets and the outcome is decided by comparing the peers’ choices.
The custom bets feature is another innovative feature offered on the DefiXBet platform. This decentralized betting feature allows users to design a game and bet on virtually anything. The custom betting feature enables game creators to interact with real-world data using APIs and set custom rules to place wagers and record wins or losses. It opens a whole new betting paradigm with odds being set against any event and people participating in it to potentially earn a small fortune.
Apart from any earnings generated through potential gambling wins, users can also earn using DefiXBet’s DeFi features. They can acquire and stake the platform’s native DXB tokens to generate a passive income stream. DefiXBet has set aside 40% of all profits generated by the casino platform to be shared with DXB stakers. The rest 40% and 20% will be utilized for the upkeep of DefiXBet ecosystem and to fund the token buy-back program, respectively. Half of the tokens bought back from the market will be burnt to fuel further growth of the token price.
All these features are readily verifiable, thanks to the extensive use of smart contracts and blockchain technology. Further, the integration of Chainlink infrastructure supplies the necessary reliable real-world data through its oracles and supports a provably fair, verifiable source of randomness as part of the Chainlink VRF.
Encouraging Widespread Adoption of DLT to Promote Transparency Across the Industry
DefiXBet encourages third-party game developers to utilize their infrastructure to create safe, transparent and user-friendly titles for their audience. The DefiXBet incubation program offers these developers the necessary guidance, community support and experience to increase their chances of success. Further, game developers using the DefiXBet ecosystem will also stand to earn additional profits, on top of the regular game earnings for their contribution to the DXB platform.
The Growth of DefiXBet
DefiXBet is created by a team of experts with years of experience in blockchain and online gaming. The cohesive team includes people with specialization in solidity, rust programming, and UI/UX design. All the team members have successfully completed their KYC with SolidProof.io to receive the Certificate of Compliance, indicating the project’s legitimacy. The DefiXBet team has achieved considerable progress so far and continues to build the project at a rapid pace.
Having concluded the private sale and public pre-sale of the DXB tokens by the end of September, DefiXBet’s token is already listed on PancakeSwap. Soon, the platform will introduce cross-chain compatibility by enabling users to swap DXB between Binance Smart Chain and Solana blockchains.
By the end of December, DefiXBet will launch its first game – Rock-Paper-Scissors, followed by more titles. The team expects to launch sports betting and custom decentralized betting feature, along with DeFi staking and DefiXBet incubation service for third-party game developers in Q1 2022.
With its features and support for third-party game developers, DefiXBet is encouraging game developers, casino platforms and gamers to adopt blockchain-based gambling solutions for their own benefit. The platform offers an opportunity for everyone to maximize their returns by making the right choice which can potentially pay huge dividends in the future.