Decentralized peer-to-peer betting network Betswap.gg has officially announced the testnet launch of its betting exchange. It also launched an invite program that enables community members to preview the technology and contribute in the testing phase.
The test version 1.0 will initially have limited capabilities. However, it will feature three key sports: football, basketball and cricket. Furthermore, according to a document released to CoinQuora, the platform will release additional sports such as NFL, eSports, tennis, and many more each week. It also plans to integrate more features in the platform, which include multi-betting, order book, and automated liquidity bookie pool to name a few. This initiative created by the network is deployed to ensure the smoothness of the rollout.
In terms of technology, the network plans to make the platform code open-source and offer b2b integration with multiple providers once the mainnet version is released. The network stated that the release of the mainnet will take place once the platform has been already fine tuned.
Meanwhile, Betswap.gg enables all its players around the world to have a seamless experience in sports betting. To be specific, the platform’s blockchain enables its users to have a transparent exposure in playing esports with reduced fees.
On the other hand, unlike traditional sports betting where bets are placed against the house, at Betswap, it’s a peer-to-peer system, where users bet against each other, and the exchange acts as an intermediary marketplace for their bets. It also provides holders with a wide variety of functionality, including governance, staking and much more.
The platform uses the technology of Ethereum, Fantom and Avalanche blockchains. In addition, It provides multi-chain integration as well as truly decentralized governance through a decentralized autonomous organization (DAO).