Wagerr is a decentralized sportsbook that brings trustless sportsbetting to the entire world. Due to its strict use of Application Specific Smart Contracts (ASSC) and 2nd layer network controlled by Oracle Masternodes, Wagerr solves the security, scaling and incentive issues that have plagued smart contracts since their inception. Additionally, Wagerr combines leaps in technical design with an economic linkage that creates a deflationary, and self regulating economy. Through decentralized governance and contract fees, structural mechanisms balance Wagerr’s token value by dynamically adjusting supply based on the current exchange rate and betting volume within the Wagerr network.
Key Points:
No personal information is required or stored to usage Wagerr. The network is available from any internet connection and is not subject to regulatory oversight. Wagerr’s open network does not reinforce centralized identities, freeing participants from any stigma associated with sports betting.
Wagerr is a two tiered network comprised of standard wallets and Oracle Masternodes. The first layer is the standard transactional layer in which basic wallets earn rewards for block formation. Oracle Masternodes, a second layer of the Wagerr network, function as consensus agents, forging betting contracts, retrieving sporting events outcomes data, and consensually validating results that trigger contractual payouts.
The Wagerr system facilitates three modalities of sports betting: Peer to peer betting, Multi user betting, and Peerless direct chain betting.
The value of the Wagerr token (WGR) is systematically tied to the use of the sports betting blockchain.
The Wagerr network reduces the risk to value and protects holders of WGR tokens by linking betting volume to coin supply. This “value coupling” between usage and supply is a built-in deflationary mechanism that destroys 48% of the fee from every bet. With fees of 2%-6%, the net result is nearly 1-3% of every bet permanently removed from the network.
Wagerr’s systematic destruction of fees thus creates supply scarcity over time. As the average volume of betting activity over the Wagerr network rises, the value of Wagerr rises with it, enabling all investors to participate in its strong growth potential simply by holding WGR tokens.
In order for the transaction to confirm, two conditions must be met: first, there must be a match between the amount of the initiating bet and the amounts of the complementary bets taking the other side. Second, the official time that the block containing this transaction is first confirmed on the chain (encoded in UTC time) must be prior to the T-minus-10 minute mark for the sporting event.
Wagerr is implementing Zerocoin Protocol (Privacy Technology), and they are creating their own blockchain.
What are the tokens used for and how can token value appreciate?
Through this “Value Coupling” mechanism, betting activity over the Wagerr network fuels supply destruction. This deflationary engine drives the value of WGR over time.
Competitors:
- FansUnite - seeks to use the Ethereum blockchain to create a sport betting platform
- NoLimitCoin - fantasy sport betting
- Unikrn - esport betting
Pros:
- Wagerr is (better) decentralized, private, and lower-fee with a compelling value proposition, Wagerr has the potential to win substantial market share in the long run.
- This blockchain is focus on only one thing… sport betting. So, they have an advantage over other blockchains that focus on multiple functions.
- Investors are rewarded for holding long term.
- Privacy Technology is a big thing for anyone who is betting in a banned geographic location.
- Wagerr plans to expand into esport and fantasy sport betting.
Cons:
- Wagerr has missed several deadline due to unforeseen complications. If this pattern continues, competitors could increase market share. For example, they have missed their Mainnet launch date, and this is putting negative pressure on the coin’s value.
Outlook:
After reviewing the white paper, I have decided to take a long term view on WGR. I feel that WGR can disrupt the sport betting space, and there seems to be value for long term holding. My concerns are the delays in the launching the product and competition.