KEY TAKEAWAYS
- LEVR Bet launches its testnet on Avalanche, integrating on-chain perpetual trading with live sports wagering.
- The platform offers up to 5x leveraged bets, leveraging Avalanche’s C-Chain for faster and cheaper transactions.
- LEVR Bet introduces LVP Vaults, allowing liquidity providers to earn rewards from platform fees.
- The testnet launch coincides with the NFL playoffs, providing a preview of the platform’s capabilities.
LEVR Bet, a decentralized leveraged sports betting platform, has launched its testnet on Avalanche, marking a significant development in the sports betting industry. The platform integrates on-chain perpetual trading mechanics with live sports wagering, offering up to 5x leveraged bets. Built on Avalanche’s C-Chain, LEVR Bet aims to provide a faster, cheaper, and smarter betting experience compared to traditional markets.
The launch follows the Avalanche9000 upgrade, which significantly reduced transaction fees on the C-Chain by 96% and deployment costs by 99.9%. This upgrade enhances LEVR Bet’s ability to offer low fees and near-instant transaction finality, making it well-suited for high-volume betting activities. The platform’s infrastructure supports in-game betting, where speed and finality are crucial.
Innovative Features and Testnet Launch
LEVR Bet introduces a unique liquidity model powered by LVP Vaults, allowing liquidity providers to contribute stablecoins and earn rewards from platform fees. This model supports the platform’s leveraged betting experience and offers sustainable incentives for liquidity providers.
The testnet launch coincides with the NFL playoffs, allowing sports fans to engage in leveraged betting using test credits. Participants can place bets on events like the NFL Conference Championships on January 26, competing for leaderboard prizes and Avalanche Boost Incentives. This phase provides a preview of the platform’s capabilities ahead of its mainnet launch.
Technical Expertise and Future Plans
LEVR Bet is led by Dillon Berger, a former CTO of Caprica AI, and a team with expertise in sports betting and decentralized finance (DeFi). The platform is pursuing a Curacao gaming license to ensure a regulated and compliant launch. This aligns with Avalanche’s mission to support next-generation decentralized finance platforms.
The testnet phase is currently live, offering users the opportunity to experience decentralized leveraged betting. The mainnet launch, featuring real USDC payouts and additional incentives, is expected to follow soon. More details can be found here.
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