Wagerr Main Net Launch | New Exchange Listing
- Stage 1: Offer a head to head exchange with 1.98-1.98 odds.
2 players who want to bet the same amount on opposing sides get matched with a smart contract, the winner gets the payout (2% fees). - Stage 2: Offer a multi user exchange with 1.96-1.96 odds.
1 big player wants to bet a lot on a certain side and gets matched with many smaller players who want the opposing side (4% fees) - Stage 3: Offer bets themselves peerless direct on chain with 1.94-1.94 odds
For as far as I understand they will offer bets themselves where new coins get created for winners while lost coins get burned (6% fees).
~50% of the fees go to the ones who settle the bets by running a masternode
~50% of the fees get burned which decreases the supply and increases it's value
Wagerr Price Chart
My main concern for this project by far is their team who haven't given any reason to be confident about this project so far. The price stayed at an all time low after they screwed up payments on the mayweather promotional bets they accepted. When they finally announced a launch date, the price went 10x to see it drop all the way down again after a last minute delay. They have a history of poor communucation and making avoidable mistakes which should be a big red flag for anyone who plans to invest on this project. It will be interesting to see how things evolve this friday when they are supposed to release their main net. They allready stated that they will burn 5000 of their own tokens for each day the launch gets delayed.
There are plenty of things to like about this project. They are 100% focussed on the sports betting market and have a good name and logo branding. Being first to market can be a big advantage and their fee and token buring structure looks interesting. I am looking forward to test out their platform once it gets released as I have been holding on to the small investment I naively made. Knowing how big of a questionmark this team is, this is a very high risk coin with mostly short therm potential. What I really look out for is project announcements on EOS that is able and focusses on offering extremely competitive odds.
In the short run, it won't be a surprise to see a big jump in the price if they actually release their main net and get listed on a bigger exchange which is something they clain will happen. In case of another delay the price will likely go down more. This was a recent message from the CEO on Telegram...
"David Mah: technically we will start testnet at the same time, but its not possible to have head 2 head immediately for the following reasons 1. the 2nd layer network encompassing betting will need to be secure and stable ie, a good amount of nodes online, 2. introduction of zero coin after we distribute mainnet coins we will start distributing testnet coins to testers also we are looking at services to mask the IP addresses of the oracle / master nodes. after we launch 2 things will happen in parallel, conversion to HTML5 wallets and integration of H2H to testnet. the required daemons powering the HTML wallets are already complete. Im hoping to have bet on chain ready by ICE conf in london or where ever it may benext year to steal the show. well , we will still steal the show with head to head. ""Mark Roddy:
it seems we are still under the radarDavid Mah:
not so much under the radar after THIS upcoming exchange listing "
how to list friends, good post @costanza
The potential is there but the have got so pissed off at the moment. They have the look of a team that is trying to consolidate as much money as possible before they pull the heist of their lives. :D
All the same let me remain optimistic and maintain my very tiny investment of 100 wagger.
The same thing has crossed my mind multiple times, it often feels like they don't have anything and are just manipulating the price and will go offline and run with all the money one day.
It all remains to be seen. Great news though. They finally launched the mainnet. You might want to have a look at that and I will be looking forward to learning your thoughts on it.
An interesting project, but the question is will they pull it off.
Another delay (or big screw up) can kill it for good. If they deliver the goods on Feb 16 I can see them doing well.
But then @costanza you have a problem - how will you forgive yourself for buying so little of wagerr coin? :)
Current price (at the time of writing this): $0.418415 USD
Anyhow, keep us posted.
I bought a healthy bit at around 0.10$, the only regret I have is not selling a bit when it was at 1$, a delay or screw up somehow was so predictable with their team.
I agree with you the branding and concept is really good. I was pleased but not ecstatic at main net launch since that really is just a clone of an existing coin, I got shouted down for pointing that out on their forum, yes I accept that it is a clone of two technologies, zero coin added so that they can make it a dark coin, but it was still just a clone of the coin Pivx which was a fork of Dash. So what is my real concern, the Oracles, I believe getting Oracles to work is going to be very difficult indeed, most consensus algorithms work on data that is consistent, getting consensus on good data is easy, but they need Orcales to be independently maintained with betting data and results from different sources but have consistency in the data. I think this is really difficult and their biggest challenge.
quite interesting, but I think that the world is not ready for this now. and strange two percent. But if zero percent, then it would be attractive, it would be the real Head-To-Head
0% will probably not be possible , but solid projects that aim to maximise the odds should eventually come. I think the main reason wagerr has bigger fees than needed is because bets need to be taken in wgr and it needs to be attractive to hold these for the long term. Fees getting systematically burned should provide this even though I think the underestimate how many coins will actually be destoryed as turnover can be insane in betting over time compared to stakes.
As usual, thanks for keeping us abreast of these crypto sports betting activities... I'll likely sit out for now, but hope that you'll continue to provide update as this rolls out. Cheers!
I wouldn't buy in myself right now if I was not holding them, very high risk project. I will keep my eyes on new developments in the sports betting blockchain segment and post about it when something happens.
Yeah, doesn't sound bad... I like those token / coins with a purpose. This one reminded me a little bit on the funfair project. Thank you for sharing 🙏
Great idea!
Awesome post! I invite you to visit our blog and vote us back! And of course to enjoy our content :)
Nice post, the only part you have incorrect is that ~50% of the fees go to the ones who settle the bets by running a Oracle- not masternode. I have similar concerns with the team. Definitely high risk, high reward.