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UBet

UBet is a decentralized, peer-to-peer sports prediction market that allows sports fans to trade their predictions at market-implied odds, without friction, whenever they want.
What is UBet?
UBet is a decentralized, peer-to-peer sports prediction market that transforms traditional sports betting into a transparent and equitable system. By eliminating centralized control, UBet allows users to place unrestricted bets and enables liquidity providers to earn passive yields. The platform operates on blockchain technology, ensuring fairness and transparency in all transactions.
How Does UBet Work?
UBet utilizes an autonomous protocol that provides betting odds and facilitates a highly liquid market. Bettors can trade their bets continuously, buying and selling at market odds with a fixed transaction fee before the game starts. Liquidity providers fund a liquidity pool by depositing USDC, earning passive yields from the transaction fees paid by bettors. This creates a symbiotic ecosystem benefiting both bettors and liquidity providers.
What Makes UBet Unique?
UBet stands out due to its fairness and transparency, achieved through immutable algorithms on the blockchain that determine odds, eliminating centralized control. The platform operates without centralized control over odds, bet sizes, or user restrictions, running entirely on predefined smart contract protocols. Additionally, UBet employs a unique Automated Market Maker (AMM) designed specifically for sports betting, addressing issues like instant settlement, market price adjustments, and impermanent loss.
Who Are the Founders of UBet?
UBet was founded in 2021 by Daniel Im, who serves as the CEO. Daniel is a University of Toronto graduate and has been instrumental in steering UBet towards its mission of decentralizing sports betting. The leadership team also includes Alexander Kondratskiy, the CTO, who is also a University of Toronto graduate and leads the technological innovations at UBet, focusing on developing the proprietary AMM and ensuring platform security.

Latest News

What Key Events Have There Been for UBet?
In May 2022, UBet secured $2.7 million in seed funding led by Shima Capital, GSR, Republic Crypto, LD Capital, Old Fashioned Research, Decimus, and M6. Strategic investors from the sports betting industry, including Daniel Hannigan-Daley and David Hong, also participated. The capital is intended to enhance the platform's technology and expand its operations. Additionally, UBet partnered with Knights of Degen to list the DGEN token on the UBet platform, marking a significant step forward in the world of web3 and sports betting.
Project Announcements
UBet has outlined a phased development roadmap, including the launch of crypto sports betting focusing on pre-match betting across popular football leagues, expansion to include prop bets and prediction markets, and the introduction of order book and API functionalities. The platform also introduced the UAMM, a decentralized algorithmic pricing mechanism for sports prediction markets, offering fairer odds and improved liquidity through blockchain technology.

Upcoming Events

Latest Airdrop
UBet introduced UBET Credits, a dynamic way for users to earn USDC rewards and qualify for token airdrops. Users can earn credits through various activities on the platform, which can be redeemed for rewards. Specific details about upcoming airdrops, including dates and eligibility criteria, are announced periodically on UBet's official channels.

Projects Announcements

Where to Buy UBet?
As of now, UBet tokens are not listed on major exchanges. Users are encouraged to follow UBet's official channels for announcements regarding token listings and purchasing options.
UBet Price
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UBet Price Prediction
Currently, there are no available forecasts from reliable experts or publications regarding UBet's token price. Users should exercise caution and conduct thorough research before making investment decisions.

FAQ

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Disclaimer and Risk Warning: Some content on this page may be assisted or generated by AI and is for general reference only. For the most accurate and updated information, please refer to the official website of the project. Bitget Wallet values every partnership. If you notice any issues or inaccuracies, feel free to reach out to us at [email protected] — we appreciate your feedback and will make improvements where needed.

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