Own the Platform That Lets You Be a Bookmaker of Your Favorite Sports Events

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Imagine being part of the ownership of top bookmakers such William Hill or Bet365. To most of us, this will remain just that, the stuff of imagination. Well, not for long. Not with blockchain technology – through the newly launched decentralized stakes platform, Chipz – continuing its major disruption in the betting and gambling sector.

Chipz will allow users to become bookmakers for sports events and own part of the platform once it’s completely decentralized.

How will Chipz work

The Chipz ecosystem will run through their ERC-20 utility token, known as CHPZ. The CHPZ token will be used to create the sportsbooks and stake bids on the platform through smart contracts. Besides, all earnings on the staked bets will be deposited to user wallets in CHPZ.

Once a user already has CHPZ in their preferred ERC-20 wallet, Chipz provides multiple avenues to earn more CHPZ on the platform. For starters, you can become a bookmaker, where you create events with various outcomes and allow bidders to stake on their preferred outcome. The stakers will pay you a set fee in CHPZ.

On the other hand, a user can stake their CHPZ on sports and esports events listed on the platform through Chipz oracle explorer. If your staked outcome wins, the smart contract disperses your earnings in CHPZ to your wallet automatically.

Being Part of Chipz Governance

Based on Chipz’s roadmap, the developers’ ultimate goal is for the platform to achieve true decentralization. The CHPZ token will be used as a governance token.  Here, users who bought CHPZ tokens in the early stages of the platform, as well as verified bookmakers, get to be part of Chipz’s platform decision-makers.

As a CHPZ holder, you’ll be allowed to post and vote on the platform’s proposals and future fees. What’s more, verified bookmakers – highly ranked and trusted Chipz users who have earned a reputation of creating trustworthy bidding instances based on Chipz oracle explorer sporting events – will be allowed to create multiple outcomes on virtually anything beyond the oracle’s data.

Hence, the verified bookmakers will be involved in Chipz governance and create events on absolutely anything with an uncertain outcome that bidders can stake on.

Even better, Chipz developers claim that verification of bookmakers doesn’t involve requesting users for KYC. Rather, the platform will attach a user’s wallet address to their bookmaker profile then monitor the profile based on the bidding instances they set. What’s more, bidders will be able to downvote or upvote a bookmaker hence maintaining accountability in the Chipz community.

Where to buy CHPZ today

Early adopters of the Chipz platform – both bidders and bookmakers – will be rewarded with CHPZ tokens once the platform achieves true decentralization.

Luckily for interested investors, Chipz is still on its 1st version; hence holding CHPZ today makes them early adopters. Currently, you can buy the CHPZ tokens on Bounce as a presale investor at $0.03 per token. There are 15,000,000 CHPZ listed for public presale.

You can also wait for CHPZ public listing on Uniswap scheduled at 6 PM UTC on 6th Aug, 2021 and buy the token at $0.05 per token. The platform plans to list 10,000,000 CHPZ on Uniswap.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. AllStocksNews.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Stephen Phillips
He is a complete nerd and a graduate of computer science. He talks about cryptocurrency and blockchain.
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