Welcome to the BetProtocol - ($BEPRO) Q&A with The Gem Hunters
We would like to thank the BetProtocol team for coming to The Gem Hunters and kindly sharing information on the project with our community. Before commencing our pre-set questions which will be followed by public engagement we would like to share some basic information on the project to give people a better idea before the Q&A begins.
BetProtocol enables entrepreneurs and developers to create gaming platforms in minutes. No coding is required and products include, CryptoCurrency Integration which allows you to accept crypto payments on your gaming platform directly to your bank account. Casino, which allow you to design your own casino application from layouts to engines, games and deposits. Esports booking, Esports and prediction markets with prediction API’s for the type of market you choose.
Q1. When doing research on Betprotocol, we quickly realized that the token utility has been a huge factor, which we love to see because that is obviously of major importance for investors. We would like you to go through all the five major usecases of the $bepro token and how they could drive the demand for $BEPRO
1.1 BEPRO token as a gas fee
1.2 the security that the $BEPRO token brings
1.3 how oracles become some sort of masternodes for BEPRO
1. BEPRO needs to be first acquired by our operator clients in order to support their betting volume. BEPRO is spent as gas, and the more betting volume operators have the more BEPRO they spend. It works like gas in a car. Once they run out of gas they have to refill by buying on the exchanges, like BitMax or KuCoin
2. Since each bet as a BEPRO as gas fee associated with it, it provides an economic security against wash trading
3. When we have sports book live, BEPRO holders can stake their tokens to vote on event resolution to earn more BEPRO as a reward
Q2. You are entering a market with projects like Augur and FunFair for example. What makes Betprotocol stand out compared to these projects?
You have other names in the space like FunFair or Wink. The main differentiation from these projects is that we are B2B facing. Our software enables us to launch as many B2C betting platforms as we want. Our clients just have to own a license and use our dashboard to launch their own casino or betting platform, with no coding required. Also, our platforms UX / UI is very easy for the gambler, so we are not only offering a solution for the crypto market, but for the whole gambling market. Obviously with a focus on cryptocurrencies. As for Augur, Augur does prediction markets and we are launching that a bit later in the roadmap. We have a complete competitior overview on our medium if you guys want to check, just google betprotocol competitors. 🙏
Q3. To drive the demand for $BEPRO on the secondary markets, you will obviously have have operators running your application. Could you give us a bit of an insight to the progress of this. With how many clients are you in talks with? How many agreements do you have and how many are either ready to go live or are live already?
We have 2 live clients already, one with real money and one social casino that is transitioning to real money soon. We're also going live with a 3rd platform, hodlbet, in about a month for real money. For Esports, which is going live in Q3, we already have several clients lined up to go live in Q3 and Q4 of this year. We are really excited for Esports as it is a fast growing vertical in online gaming.
You can check our latest roadmap here:
Q4. We’re very excited about your plans for Esports betting as Esports has been growing for years and is now growing at an even higher pace due to the Covid-19 circumstances. From what we’ve read it is currently in closed beta. Can you give us more details on the features of the Esports betting platform and when we can expect it to go live?
So from Q3 our clients will be able to launch Esports betting apps for games like League of Legends, Dota 2, CS:GO, Overwatch, PUBG and others. In terms of features it will include game stats, pre-round details, pre-round and live betting and video streaming integration. We are releasing more details soon!
Q5. The BetProtocol roadmap features a Market Prediction platform, could you give us more details on what we can expect from that and for when it's scheduled?
So about that, prediction markets are further away on our roadmap, after Esports and Sportsbook, because technically it requires a lot of development to do it in a decentralised way, and we need to see that there is actually a lot of market demand for this type of betting. Prediction markets can be very cool for certain big events that everyone is watching, but not so great for long tail type stuff. Anyways we continue to monitor traction of other projects like Augur and Gnosis to see what they are doing. But our focus is delivering Esports betting right now since that has a far greater market demand, being able to bet on the weather two weeks from now might be cool though!
Q6. Let's say we want to launch my own casino or esports betting application with Betprotocol. What steps would we have to take and how long would it take approximately from a technical perspective?
Do you really? We can set that up for you 😄
So there are two things that happen in parallel : technical setup and compliance, the whole process takes about a month to 6 weeks depending on how fast the client can get his documentation together. It takes about a month or so to get all the platform setup with games, backend and back office, 3rd party integrations and wallets.
Then in parallel we intro you to a partner who will arrange the white label domain for compliance the whole thing is no coding required so you can rely on our tech team to set everything up, and once it is setup you use our back office portal to manage it from any laptop anywhere in the world with Internet. You can literally be sipping mojitos poolside and managing your online casino at the same time!
Q7 . The team decided to extend the lockup period of $BEPRO tokens that aren't in circulation, what was the reason behind that and what effects will it have?
The main reason for this was that we felt that it was too early to release more tokens in the market. We are a new project after all and we want to promote an healthy secondary market. We also felt it was too early to release the first partner and team tokens, as we are all here for the long-term.
In terms of effects we were expecting that it would give more security for new investors to start holding BEPRO and it's clearly working. A nice stat about this is that the number of Bepro holders on Blockfolio more than tripled in June. So this decision, paired with tech development and sales, etc, is giving really nice results. 🙂
Q8. It became some sort of ritual to end our AMAs with this cheeky question and we know you can't be precise on these things due to nda, but investors love new exchange listings so we have to ask. You are already listed on Kucoin which is an achievement on its own for a smallcap project like Betprotocol, but are there plans to expand the list of exchanges in the near future?
Well we just announced BitMax listing today, with staking! BitMax and KuCoin are both fantastic exchanges with lots of real users and altcoin volume staking on BitMax adds a new utility for BEPRO and also incentivizes buying and holding BEPRO, our operators have all expressed interest in staking their BEPRO before spending it as gas. In the future roadmap we are super excited for Esports and offering a bunch of games to watch live and bet on. With regards to BitMax specifically, pre-staking has 35% APR, it's a really big thing for us and for $BEPRO holders. More liquidity and huge return for staking, probably the biggest on the market.
And yes, we are always working to list on new exchanges, including top tier ones!
And don’t forget that right now we have a net-buy trading competition on BitMax with more than $100,000 in rewards.