Vanilla Network, launched during the DEFI winter of 2020 by professionals fielding a wide array of skills ranging from Web 3.0 Development, Finance, AI, MA, AR, VR, Digital Marketing, and DBA built an intuitive gaming protocol called the head-to-head betting decentralized application where players are on full control of their bets without interference from the project owners. Players have the capability to create their own bets, choose the wager, odds, and also invite their peers to join the bet. It was the first fully decentralized betting application on the blockchain that had a successful launch. With interest surging after its initial launch, gas prices on the Ethereum Network spiked to an unprecedented level, an event that motivated the team to rebuild the application on the Binance Smart Chain Network due to popular demand from the community even after securing a rewarding partnership with Polygon.
Months after concerted efforts have been invested in the flawless delivery of the application with additional features added to make it more robust and user-friendly, it is now ready for a relaunch on the BSC Network and this time, Vanilla Bet will lock hands with industry partners - Tdefi, the Dubai and UK based incubator and accelerator returns to play their role as advisors along with Vulcan Forged, a successful Metaverse project. A new gaming protocol Scorefam has also partnered with Vanilla Bet for technology exchange. Interestingly, the legendary Sinverse, a sister company to Vanilla Bet is also tagging along especially as most of the gaming applications on the Vanilla platform will be built right inside the Sinverse Metaverse in the Strip District. Vanilla Bet also enjoys cross-overs from the over 100,000-strong Sinverse Community as the DAPP launches in the month of July 2022.
What problems are the Vanilla Bet solving?
Betting is a historic staple in the sporting industry. The multi-billion dollar industry has etched its legacy into the roots of every sport today generating billions of dollars. The betting industry is rapidly expanding, however, a lot of its potential is limited by the involvement of transnational organized crime and outdated tools. Interestingly, the Vanilla Bet can solve that by providing an updated, top-of-the-line, and secure betting platform for anyone that wants to gamble. The Vanilla betting platform allows holders of the VNLA token to participate in Head-to-Head bets against other members of the community. That’s not all, they can also participate in a diverse range of pool betting scenario.
Head-to-Head betting dApp, how will it work?
All they have to do is create an event for a bet to be placed on and verify the start of the event with the help of the API fixture list pull for premium events which will expand as the platform develops. Users, therefore, can place their bets on unique outcomes and events. They can bet on the next NBA final or they can bet on the next NFL match, the possibilities are infinite. An oracle data pull will create automated results where applicable for known events.
User bets are then matched by other users on the network using their VNLA tokens (which are actually sVNLA tokens, running on the BSC where bets are placed at high speed with almost zero fees). The winners of the bet will be able to double their stake and the losers will lose their tokens. The Vanilla Betting platform is simple, transparent, and limitless.
The team behind the platform strives to produce a vanilla product offering. Their betting platform may be complicated behind the scenes; however, it is simple on the surface for users to understand, learn, and utilize. The Vanilla Betting Platform also allows users to participate in Pool Betting scenarios for key sporting events. Users can place their bets on their preferred outcome. After the bettings are closed, the odds are generated depending on the level of bets placed on each outcome.
Users can bet on the next Champions League final or the main card for the next UFC or Boxing match as mentioned above the possibilities are limitless. Suppose there’s a Champions League final between Bayern Munich and Arsenal. If 10,000 VNLA is placed on Bayern Munich, and only 5000 VNLA is placed on Arsenal; this would mean Arsenal’s odds would be 200% whereas Bayern’s Munich’s odds would be calculated at a 10% return.
Simply put, if Arsenal were to win, users who had pooled their tokens on this outcome would receive a significant reward. Which is probably unlikely, sorry Arsenal fans. These distinct features of the Vanilla Betting platform will allow users the ability to participate in an array of diverse betting outcomes with a transparent value outcome, without ever being governed by outdated centralized bookmaking.
Conclusion
To summarize, the Vanilla Network are using demand-driven activities which appeal to all betting enthusiasts whilst using a deflationary token, which rewards users who are staked within the ecosystem and earn rewards based on volumes generated.
This is a real disruption to the archaic bookmaking industry, which currently takes a large brokerage fee and is ultimately always the winner when the end user places a bet. This new and innovative mechanism puts the power back to the end user, a true mark of decentralization at its finest.
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