LONDON, Aug. 9, 2021 /PRNewswire/ — Vanilla Network has recently partnered with Polygon Network, the market leading layer-2 solution for the Ethereum network. Their mission is a simple one, “Ethereum’s internet of blockchains”.
In a very simplified manner, gaming and marketplaces on the Blockchain can make use of Polygon’s innovative solutions to ensure super fast transaction speeds, with cost free transactions. Which is remarkably appealing for new and seasoned cryptocurrency users.
For the forthcoming Head to Head social betting dApp being released, Polygon have introduced Vanilla Network to the Biconomy protocol, which allows for signing transactions on the Metamask Wallet without users incurring a gas fee. Essentially the gas fees will be sponsored by the administrators, so the end user incurs no fee to place a bet on the Vanilla betting platform.
What problems are the Vanilla Network solving
Betting is a historic staple in the sporting industry. The multi-billion dollar industry has etched its legacy into the roots of every sport today generating billions of dollars. The betting industry is rapidly expanding, however, a lot of its potential is limited by the involvement of trans-national organized crime and outdated tools. Interestingly, the Vanilla Network can solve that by providing an updated, top-of-the-line, and secure betting platform for anyone that wants to gamble. The Vanilla betting platform allows holders of the VNLA token to participate in Head-to-Head bets against other members of the community. That’s not all, they can also participate in a diverse range of pool betting scenarios.
Head-to-Head betting dApp, how will it work
All they have to do is create an event for a bet to be placed on and verify the start of the event with the help of the API fixture list pull for premium events which will expand as the platform develops. Users therefore, can place their bets on unique outcomes and events. They can bet on the next NBA final or they can bet on the next NFL match, the possibilities are infinite. An oracle data pull will create automated results where applicable for known events.
User bets are then matched by other users on the network using their VNLA tokens (which are actually sVNLA tokens, running on the Biconomy protocol where bets are placed at high speed with no fees). The winners of the bet will be able to double their stake and the losers will lose their tokens. The Vanilla Betting platform is simple, transparent, and limitless.
The team behind the platform strives to produce a vanilla product offering. Their betting platform may be complicated behind the scenes; however, it is simple on the surface for users to understand, learn, and utilize. The Vanilla Betting Platform also allows users to participate in Pool Betting scenarios for key sporting events. Users can place their bets on their preferred outcome. After the betting’s are closed, the odds are generated depending on the level of bets placed on each outcome.
Users can bet on the next Champions league final or the main card for the next UFC or Boxing match as mentioned above the possibilities are limitless. Suppose there’s a Champions league final between Bayern Munich and Arsenal. If 10,000 VNLA is placed on Bayern Munich, and only 5000 VNLA is placed on Arsenal; this would mean Arsenal’s odds would be 200% whereas Bayern’s Munich’s odds would be calculated at a 10% return.
Simply put, if Arsenal were to win, users who had pooled their tokens on this outcome would receive a significant reward. Which is probably unlikely, sorry Arsenal fans. These distinct features of the Vanilla Betting platform will allow users the ability to participate in an array of diverse betting outcomes with a transparent value outcome, without ever being governed by outdated centralized bookmaking.
Conclusion
To summarize, the Vanilla Network are using demand driven activities which appeal to all betting enthusiasts whilst using a deflationary token, which reward users who are staked within the ecosystem and earn rewards based on volumes generated.
This is a real disruption to the archaic bookmaking industry, which currently takes a large brokerage fee and is ultimately always the winner when the end user places a bet. This new and innovative mechanism puts the power back to the end user, a true mark of decentralization at its finest.
Important links:
Telegram: https://t.me/Vanillafinance
Twitter: https://twitter.com/vanillanetwork1
Website: https://vanilla.network
Coingecko: https://www.coingecko.com/en/coins/vanilla-network
SOURCE Vanilla Network
