BSCDaily.com hosts Wagerr: a decentralized sports betting blockchain that is privacy-focused, has open access, and no limits to amounts you can bet
BSCdaily – Admin: Hi @davidmah, welcome to our AMA. How are you doing today?
David Mah: Great, the Wagerr market has been doing really well, so is the betting action on the chain
BSCdaily – Admin: Cool! I am really looking forward to knowing more about Wagerr project too!
Q1: Could you give us a brief description of your project Wagerr?
David Mah: Wagerr is a decentralized sports betting blockchain, that is privacy focused, has open access , and there are no limits to amounts you can bet
BSCdaily – Admin: privacy is always my top priority when I join the bets 😀
David Mah: Exactly, your betting accounts are essentially your non-custodial addresses.
David Mah: Your keys your coin. We have a variety of wallets for users to store their coins in
BSCdaily – Admin: sounds like heaven 👍
Q2: How many people are on the team and what made you guys start Wagerr?
David Mah: Currently we have about 20 members on the team, from development, management of sporting events, social media marketing
David Mah: Take the current sports betting scene worldwide
BSCdaily – Admin: That’s a big team and great development
David Mah: People cant bet safely, or if they can, are limited by centralized books and sometimes banned. There are billions if not trillions of dollars in sports betting
Q3: Is your team anonymous?
David Mah: Most of them are, given the nature of the project, and where they live, regardless the team has delivered an excellent product over the last 3 years.
BSCdaily – Admin: The biggest project here in BSC – PancakeSwap is an anon team too so I wouldn’t mind
BSCdaily – Admin: What about the dev team? How long have they been coding and what experiences do they have?
David Mah: Our dev team has been developing for years, some even before blockchain tech existed.
David Mah: We have a variety of specialties, from C++ for the core wallet, and react, JS, for our explorer (http://explorer.wagerr.com/)
It’s allowed us to move a lot quicker down the roadmap than we would have otherwise.
Q4: What are the use cases of Wagerr tokens $WGR?
David Mah: In this case, we know the basics of blockchain technology, immutability etc.
Betting is an excellent use case for blockchain technology
Because in centralized books we don’t know what is really happening
In the case of wagerr, the blockchain is sports book, it accepts bets and processes payouts everytime
Events and price updates from our oracle system is available on our explorer
In this instance, the blockchain is the counterparty, where by winnings are minted and losing bets are burned and taken off the supply
BSCdaily – Admin: That really incentivises traders for holding $WGR
David Mah: This is the advantage we have in comparison to other projects , that require another party to match your bet
There are plenty
1. staking Wagerr just by holding it in a wallet that is online
2. operate masternodes and receive block rewards
3. masternodes also earn clip of fees from winning bets
With the addition of wrapped tokens on BSC and ETH, we have launched FARMS for liquidity providers to receive rewards as well
Ultimately, our tokenomics includes a burning mechanism where by losing bets are destroyed and also a small proportion of fees from winning are also burned.
Thus with more betting volume we get over time, this mechanism promotes increased scarcity
We are in talks centralized sports books to utilize Wagerr, mainly to balance their liability by placing bets on the chain
BSCdaily – Admin: Wow, seems to be a lot of use cases for $WGR holders
David Mah: Yeah, a great product with solid foundations
Q5: Could you also share with us your tokenomics?
David Mah: In regards to betting fees or general tokenomics?
BSCdaily – Admin: Both would be great
David Mah: This image would explain what happens in bets
David Mah: When a bet is placed, its immediately burned, if it loses , nothing happens and it stays burned
BSCdaily – Admin: Love your burning mechanic
David Mah: Winning bets are paid according to the events odds, and a small clip of fees from the winnings are distirbuted to masternode holders and also burned
Simply put, we do not believe in pushing inflation to rewards holders
Wagerr started with about 198.3 MM in supply Feb 2018 and currently it is at 218 MM March 2021
As the product becomes more valuable it will attract big bettors as it grows. More liquidity, higher price of WGR give confidence to the bigger operators to interact with WGR. this is different to many projects where the coin can be unattractive as it goes higher in price. Wagerr becomes more valuable to these types of users
With our latest update in Jan , we have seen more burning of supply
Q6: What can we expect from the project in the next 3 months and in 2021 as a whole?
David Mah: I can share with you our roadmap