Betting
Last updated
Last updated
In the midst of creating a turnkey liquidity layer and infrastructure to support on-chain derivatives markets, a tangential opportunity was uncovered: on-chain betting. Worth an estimated $68B globally in 2021, the traditional betting or “igaming” industry has been impacted by many of the same issues seen in on-chain derivatives markets. By providing liquidity and infrastructure to support a wide variety of betting markets on-chain across gaming, sports betting, crypto, and other events markets, Hxro’s betting protocols (and ) enable a more efficient and transparent venue for the next generation of speculation.
Hxro’s Parimutuel Protocol provides builders with a comprehensive framework for creating customizable, peer-to-peer markets for betting on any event where participants finish in a ranked order, paying out the winners on a pro-rata basis.
The protocol is currently capable of running a dual-outcome parimutuel market in any discrete time frame using any available on-chain data oracle. It can be used for financial transactions, gaming, and sports wagering among other things.
To provide developers with a comprehensive solution to scale on-chain betting, the Parimutuel protocol composes with sAMM - a “smart” automated market maker built native to Hxro Network that provides on-chain liquidity to simplified dual-outcome parimutuel markets. sAMM is designed to help solve for a liquidity consistency problem often faced by parimutuels that run on a continuous market while still being efficient enough to keep fees to parimutuel participants low.
sAMM uses independent probability nodes that allow liquidity pools to automatically participate in each parimutuel events liquidity.
