·

Introducing the SportX Token (SX)

Posted by
Sponsored Article

Find out more about the exclusive SportX airdrop

On Friday 29th January, DappRadar will distribute an exclusive SportX airdrop.

SportX is a peer-to-peer exchange where fees are charged as a percentage of net profits removing any incentive by owners to ban profitable bettors and instead encourage betting volume and liquidity.

The current sports betting industry is predicated on owners overworking their users to increase profits. Bookmakers are on the other side of all their customers’ bets. This means they only make money when their users lose creating a huge conflict of interest. 

Being built on a blockchain enables a number of advantages over traditional betting sites for recreational, professional, and crypto bettors. However, the largest advantage SportX has over the traditional betting industry is that users control and govern the SportX platform via the SportX token (SX), which they earn from simply using the site. 

Source: SportX 

Early success

Even in the absence of a native SportX token and with very little marketing spend, SportX has shown that there is a demand for a non-custodial, crypto, sports betting exchange. During the beta phase, SportX has:

  • Processed $9,078,267 USD in bets from +1,200 unique wallets, across more than 101,887 total bets.
  • Created and resolved +50,000 unique betting markets across more than 250 sports leagues.
  • Earned approximately $200,000 USD in exchange fees in the process, which was used to help fund trading tournaments and promotions.

Exclusive DappRadar Airdrop 

On the 29th January 2021, DappRadar will be distributing an exclusive SportX airdrop. In order to participate make sure you log in to the DappRadar Hub early to avoid any messing around once the Airdrop goes live.

DappRadar will be giving away 40,000 SX tokens amongst 2,000 lucky winners! 

What can I do with the SX token?

Holders of SX will be able to participate in governance to earn staking rewards on the SportX platform. To do so, users must “stake” their SX, which means temporarily locking up your tokens so that they cannot be transferred. Users with staked tokens are able to vote to change the parameters of the protocol, add new features, and decide how to spend the SportX Community Treasury Fund.

In exchange for locking up your tokens and to encourage governance participation, users earn staking rewards from the SportX Community Treasury Fund. This is initially set as a low percentage of the SportX Community Treasury Fund, but SX holders can vote to increase or decrease the amount paid out.

For full terms and conditions of the SportX platform, territory limitations, and more please consult the SportX Website.

Sport X Disclaimer 

We are not selling SX and we don’t consider them to have any inherent financial value. SX is simply used to grow the community and give users the ability to self-govern the protocol. SportX is not available in the United States or other prohibited jurisdictions. SX should not be considered suitable for investment purposes; it is simply used to govern the ecosystem and protocol.

DappRadar Disclaimer

You must be over 18 years of age (or over the age of majority as stipulated in the laws of the jurisdiction applicable to you), and you are in a country where it is lawful to place bets on the service, (if in doubt, you should seek local legal advice). It is your responsibility to ensure that your use of the service is legal. Please gamble responsibly.

Share this post on social media

Share this Article

Related articles

Related articles

Gambling Industry Report: October 2020

TRON and EOS are the leading blockchains in the gambling category
© 2018-2021 DappRadar, UAB