Debets Protocol
Welcome to the Debets.org Docs. Here we aim to provide a robust explanation and understanding of how our protocol works.
Overview
Debets Protocol is a decentralized, p2p (peer to pool) iGaming platform, where players bet against each other(Liquidity providers) instead of against a bookmaker or a Web2 casino. It is built completely on blockchain technology, and powered by smart contracts.
Debets is a permissionless system, which means that the system allows any ERC20 token holder to open a bet with their tokens. In this platform, you can become the House(adding liquidity) or be a player. Anyone can bet, provide liquidity, or create new markets at will.
As we all know, the underlying logic of any iGaming is mathematics. Therefore, developers can also customize different styles of games by integrating the Debets protocol.
Core Features
Non custodial β fully decentralized, wonβt ever be in custody of consumerβs funds/tokens. Smart contracts handle all management of funds.
Transparency β all transactions are visible to the public and attached to a transaction on chain.
Provably Fair β ChainLink VRF provides the players with automated and verifiable assurances directly on-chain that game and bet outcomes are provably fair and were not tampered with by the oracle, outside entities, or the Debets Protocol.
Decentralized bookmaker β For the first time in human history, the average person will have the option to deposit any ERC20 token into the Debets pool, be the House. The tokens here will be used to cover/back the bets placed into the protocol. In return, you share in the profits generated by the house via betting activities.
Permissionless β allows any ERC20 token holder to open a bet with their tokens and create games.
Decentralized iGaming Operator β developers can customize different styles of games by integrating the Debets protocol and earn revenue from player's bets.
Anonymousβ No identity validation or KYC. No intrusive sign up process or pre-funding required to start wagering on Debets.
Motivation behind Debets
We reimagined what a igambling platform could be and then built a decentralized application (Web3) that addresses all of the problems of the modern online casino.
According to the AGA(American Gaming Association) News, 2021 Commercial Gaming Revenue Shatters Industry Record, Reaches $53B. This huge industry is still dominated by Web2 casinos.
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