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Seychelles-based Azuro is launching its decentralized betting platform to democratize betting, offer trust and improve transparency to its early adopters.
Decentralized betting protocol Azuro announced the launch of its testnet with an aim to democratize and improve overall transparency and reduce the role of traditional middlemen in betting. The platform replaces traditional betting platforms with its decentralized equivalents in liquidity provision, governance, and front-end development.
Over the years, trust has been an issue between the bookmarkers and players. The Seychelles-based betting protocol will use smart contracts that underpin the protocol’s operations to improve overall transparency and fairness in betting. The platform breaks down the bookmarker role into several roles that are available to any player. The platform uses its oracles to bring in odds and each bet placed is then converted and stored as an NFT.
Once the testnet launches, Azuro will also launch a betting contest to increase user participation and adoption rates expected to run until September 27th.
Azuro CEO & Co-Founder Paruyr Shahbazyan:
“The Azuro Betting Contest marks the official launch of the Azuro Testnet. We are excited to welcome the first Azurians to test, earn great rewards, have fun, and help. in the quest of changing the world of betting for the better.”
The contest will offer users risk-free betting and develop a community through advanced access allowing each user to claim 100 tokens daily after registering on the platform through the company’s Telegram bot.
After placing 15 bets, a user is added to the leaderboard and entered into a competition with a prize pool of 6,000 USDT, 6,000 AZUR tokens, and several NFTs. The awards are gifted to the top-ranking bettors decided by their betting success, the number of bets won in a row, turnover and other areas, etc.
Every participant that makes it on the leaderboard will be awarded the “First Azurian” NFT, which entitles them to exclusive access to potential future platform activities like farming and public token sales. Users who refer friends to the platform will also be rewarded from the prize pool when their referrals place a minimum of 15 bets on the decentralized platform.
Once the testnet launches, the platform kick off a trustless, decentralized, and community-run betting environment that reduces the costs of betting, offers total transparency, and pushes for responsible betting techniques.