MEVU : Betting, secured by the blockchain
Hello Golos Community, in this new post I want to introduce the MEVU project, and for more details, let's just go to the following discussion:
Revolution in Online Betting
Mevu uses a smart contract on the Ethereum blockchain to store and store player funds and information permanently and transparently, giving players the confidence that their bets will be executed safely and quickly.
Players can manage their own opportunities, and bet on almost anything. By cutting the cost of traditional sportsbooks, and 3rd parties, Mevu players enjoy historically low 2% costs.
The technology that underlies revolutionaries requires equally revolutionary user experience. Our platform has been designed from the ground up to suit the unique form of bets and settlements offered by blockchain.
The MEVU’s P2P Wagering Platform is integrating with the blockchain to allow individuals to bet on anything, anytime, against anyone through a peer-to-peer decentralized network.
Traditionally, online sports books face a great deal of regulations and expenses. Not only do they face large economies of scale as a barrier to entry, but they lack access to mainstream marketing channels. These factors are coupled with limited withdrawals, payout issues, and slow processing which contribute to the negative stigma surrounding online wagering platforms. Centralized sports books require consumers to trust that they will not be subject to government intervention, fraud, or hacking.
MEVU removes the physical sportsbook from the value chain taking a economically and politically feasible approach to online wagering platforms. This allows MEVU to charge 1/5th of the average processing fees. Instead of sportsbooks, the value of the bet is stored in a smart contract on the Ethereum blockchain. This eliminates the long processing times, heavy fees, and trust issues that users are subject to with centralized wagering platforms.
Users can create custom bets on anything with two possible outcomes. Running on Ethereum , MEVU’s open-source smart contract creates a secured escrow that is publicly viewable at all times. This allows players to follow their wager throughout every step of the betting process.
Disputes between players on supported sports games are sent to “Oracles” who are incentivized with percentage payouts ranging from .25% to 1.25% of fees to reach resolutions through consensus. Integrated reputation systems and leader-boards foster the spirit of competition and deter malicious behavior.
The MEVU token (MVU) offers multiple utilities to the platform which include:
- Reporting the results of sports games by reaching consensus
- Competing on exclusive discounted games
- The right to participate in monthly lottery
- Claiming referral rewards
Since oracles must stake MVU in order to earn Ethereum, and the amount of Ethereum earned is proportionate to their percentage of all MVU staked, oracles are highly incentivized to stake as much MVU as possible. Every oracle attempting to maximize their Ethereum earnings, combined with the scarcity of MVU, will result in a steadily rising demand for MVU as new users are introduced to the platform.
MEVU aims to become the most revered global platform made exclusively for players to bet anything, anytime against anyone. MEVU will initially focus on social and sport head-to-head bets, but will expand to multi-bets in which multiple players can take the complementary position against a single larger bet.
MEVU offers a comprehensive solution to a community which has lost individual control over peer to peer interactions. Placing control back in the player’s hands through their decentralized platform, MEVU is fostering global competition while keeping value with the players — not bookies.
- Token price: 0.34 USD cents per MVU token
- Payment will be accepted: ETH
- Hard Cap for the Public Sale: 45,000,000 tokens
- Maximum number of tokens: The maximum number of created tokens will be 105,000,000
- What will be done with unsold tokens: Unsold tokens will be burned
Progress and Plans
We've come a long way from where we started but we are still far from finished. See what we've accomplished so far and check out our goals for future milestones.
OCT 2017-10 / 2017
In October we released the first draft of our whitepaper and officially sponsored the ETHWaterloo Hackathon, at the time the worlds largest Ethereum hackathon.
DEC 2017-12/ 2017
In December we announced the plans for our token sale and made an early version of our platform code public on Github.
FEB 2018-2/ 2018
In February we conducted a successful closed beta for Superbowl LII with minimum smart-contract functionality on the Rinkeby testnet.
JUN 2018-6/ 2018
Beginning in June and concluding in July we opened a version of our beta to the public for a bounty-campaign centred on the FIFA World Cup.
OCT 2018-10/ 2018
By fall of 2018 we plan to have launched a public version of our platform with smart-contract functionality. The betting will take place on the testnet initially but we will quickly transition to the main net upon the conclusion of audits.
FEB 2019-2/ 2019
From this point onwards we will be working on improvements and adding various features and games (chat, rematch, pooled betting, casino, etc.). As well as looking for ways to expand the player base through strategic partnerships.
You can find out more about the platform or participate in their crowd sales through the following links:
My BitCointalk profile: https://bitcointalk.org/index.php?action=profile;u=1045517;sa=summary