#Life coin watch series#

“We have a slow but steady sort of burn happening on the chain, but we’re expecting and more volume over time.”īecause Wagerr has unlimited liquidity in its system, the platform can also be used by traditional sportsbooks to limit their liability, Mah says.įrequently sports betting is lopsided, with most customers betting on one side, exposing companies to liability if they win. “We want to drive usage and adoption of the token, and that will indirectly or directly affect the price of the coin,” Mah says. The return on investment is nearly 10 per cent, paid in Wagerr tokens, although tokenholders are also taking on the risk that the value of the coin doesn’t decline. The project also allows cryptocurrency holders with 25,000 Wagerr tokens (worth a total of $3,000 at the current price of 12c apiece) to function as a “masternode,” earning rewards for verifying transactions and a small payout when punters win bets.

Over the past 105 days, Wagerr has burned 3.14 million WGR tokens, reducing the supply by 3.2 per cent. New tokens are created when punters win bets, but overall the effect should be to induce scarcity. The tokenomics of the project means that increased betting volume on the platform drives up the value of each Wagerr token.Įach time a punter loses a bet, those tokens are “burned” – taken out of circulation permanently. But we’re growing fast!Īnyone feeling that flywheel yet? /3zahGZWBzW That’s how much WGR has been bet this year. Last week Wagerr saw more than $US1 million bet on the platform for the first time ever, with 10.5 million Wagerr tokens worth a total of $US1.2 million wagered on various sporting events.

“And also, as you know, people around the world, have no safe way to place bets.”Īn early version of the platform was first launched in late 2018 but has undergone a number of upgrades and recently seems to be gaining traction. With traditional sportsbooks, “there’s lots of issues like transparency, players getting banned, or bets being limited because of the books not having the liquidity, being able to assess some of the bets,” says Adelaide-based founder David Mah. The token lets users place bets on sporting events privately and securely, with better odds than they could receive from most sports betting websites - even if they live in jurisdictions that frown on sports wagering. Wagerr is one of the few cryptocurrency projects with a working solution to a real-life problem, its Australian founder says.

#Life coin watch series#

Small Cap Coin Watch is Stockhead’s new weekly series profiling a small cap cryptocurrency.Ī cryptocurrency that lets people place bets on sporting events via its blockchain is seeing signs of increased adoption, including by a traditional sportsbook that will use the platform to manage its liability.