Bettery Launches on Polygon: Decentralized Social Betting for Friends and Social Media
We’re excited to announce the launch of Bettery prototype as a DApp on Polygon! Bettery is a social pool betting platform for friends and online communities to have fun on what matters to you. Through betting events, collective social knowledge is created for businesses, influencers, and advertisers, while users earn from their opinions.
Why Social Betting?
Betting with friends has always been a thing, and no, it’s not gambling. However, social betting isn’t made social today, and so we’ve created Bettery.
What Makes Bettery Actually Social?
- Roles for everyone, betting and non-betting: help others to validate event outcomes, organize viral events, or suggest creative topics.
- Turn your content on any social media into engaging events when followers bet their guess of what’s hidden in a picture or what happens in the next part of a video/livestream.
- Earn while having fun! For Users — Earn free tokens that can be exchanged into real money as you beat others or help organize betting events, all to build up your reputation on the road to creating collective knowledge and earning even more! For business — Run highly engaging ads and user polls, collect market insights to make key business decisions.
We’re only at the start: Bettery is currently a prototype and will be getting many more interactive social features along its development roadmap.
Why We Decided to Team up with Polygon (previously Matic Network)
Social betting, like any other social competition, requires trust and a way to check up all the details for those who have concerns. Trust in the organizer — human or machine — to seamlessly and accurately facilitate the betting match from start to end. Trust in the other bettors to uphold their promise when they win or lose. Just like when you bet with friends in real life on which one of you will win the spicy ramen challenge, or when you bet with social media circles on what’ll happen in the next episode of your favorite show. Blockchain makes this trust possible by being the ultimate tamper-proof record book of winning and losing bets for everyone while running the whole betting event smoothly using foolproof smart contracts.
Why Polygon specifically? Because it solves all of the criteria we need to ensure the best user experience for our Bettery social betting platform.
- Cheap transaction fee — Polygon has one of the cheapest transaction fees on the market. The network also allows for this fee to be paid by a third party instead of the sender. This allows Bettery to make the payment for users so that they can enjoy social betting completely for free.
- Instant execution — Transactions on Polygon are almost instant thanks to its powerful smart contracts, which is why we use them to run 100% of Bettery’s logic and not just to process payments like 99% of other “decentralized” apps.
- Truly decentralized — Polygon uses a breakthrough “bridge” that allows for seamless token transfer between Polygon and Ethereum so that no exchange or third-party is needed to transfer a value between chains. So when you “deposit” tokens in the Polygon network, you’re still the only one who control your tokens with your private key, just like in Ethereum but with way faster and cheaper transactions.
Other Notable Technologies Used on Bettery:
We would also like to thank other Bettery technology partners from the blockchain space that make it possible for us to build a great social betting experience on Bettery:
- Sign up with any social media and immediately get your own non-custodial wallet: Torus.
- Immutable storage for Events data with guaranteed data integrity: Fluree.
- Optimize and sponsor gas fees for Users: Biconomy.
- Lightning fast Polygon Blockchain node: Quiknode.
We proudly invite you to enjoy social betting with Bettery DApp prototype and settle friendly discourse with fun! Check out more in this blog to know how Bettery works and what will be implemented in the near future, including the innovative Bettery tokenomy.
Let’s All Witness and Experience the Growth of Bettery Together!
- For social media influencers: Hit us up at hello@bettery.io to receive a one-to-one demo on how Bettery can help engage and grow your community massively.
- Join Bettery Telegram, keep up with new releases, and suggest us what you’d like to see on Bettery.
- Also, all your activities on Bettery prototype that result in reputation growth won’t be lost! Once the Reputations system is launched, your activity data will be carried over and converted into reputation points so you can have a head start on increasing your earnings from collective knowledge and building your community more efficiently!
Contest for Early Bettery Adopters — $6,000 Prize Pool in MATIC Tokens
We’re having an AMA on Polygon’s official Telegram on 20th May, 2021 at 2.30PM UTC and the rules of the contest will be announced during this event, so please join us next Thursday!
