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DeFi is turning into the most important nascent trend in finance.
Defi has an ability to borrow funds, take quick loans, deposit funds in your savings account, perform trade — all are possible without any third party — this is why it is gaining traction so quickly.
Broadly speaking, DeFi is an ambitious attempt to decentralize core traditional financial use cases like trading, lending, investment, wealth management, payment and insurance on the blockchain. DeFi is based on Decentralized Applications (dApps) or protocols. By running these dApps on a blockchain, it provides a peer-to-peer financial network. Like lego building blocks, every dApp can be combined with each other. Smart contracts work as connectors — comparable with perfectly specified APIs in traditional systems.
Online Betting & Gambling Insights
Market leaders have been focusing on mergers since the past few years, primarily to increase their market share and to improve margins. For instance, Paddy power Plc and Bet fair Plc merged into Paddy Power Betfair Plc. Similarly, Ladbrokes and Coral merged and formed Ladbrokes Coral Group Plc. Many online gambling companies rely on third party providers, such as Playtech, for software. However, some companies choose to backward integrate. 888poker heavily invested in developing its own software and online gaming technology, primarily not to rely on suppliers. The key players in the online gambling market are providing similar or almost identical services and products, leading to a fierce competition with a heavy focus on pricing and marketing activities.
Blockchain in gaming
Peer-to-peer payments on the Internet are encouraged by bitcoin, a cryptocurrency. Bitcoins are also increasingly being used as currency in online gambling businesses due to the advantages offered by cryptocurrency over normal currency. They can be used for cross-border transactions since the fee involved is comparatively lower. Furthermore, bitcoin transactions are also secure and much faster. Vendors like Bitcasino.io, Slots.lv, Ignition, and Bovada are offering bitcoin gambling which is expected to boost the online gambling market growth during the forecast period.
When talking about the growth of online betting, casinos & retail ones as well, the influence of blockchain could be of great importance. The use of completely new or innovative technologies in these kinds of business industries, especially considering the level of security is a fashion these days. This encouraged many startups or entrepreneurs to use blockchain for the online gaming business, for trustworthy, transparent, and completely safe virtual money transactions.
To make things simple, the casino users will be able to make transactions using their preferred cryptocurrencies – at least at the casinos offering payment via these currencies. Apart from being really safe, these transactions are often characterized by very low fees, which is definitely a benefit for active gamblers.
Sadly there are very few truly decentralized online betting & casino platforms.
Introducing CasinoLand
CasinoLand is a blockchain based online betting & gambling platform, which is trying to bring innovation in the Online betting & Gambling industry, which doesn’t have a clear and transparent image and is viewed as manipulative.
How Players are benefited with Defi at CasinoLand
Well, players at CasinoLand don’t have to worry if the games are rigged or rampering. Thanks to smart contracts, all activities are stored on the blockchain network and openly visible to everyone.
Also, CasinoLand has a unique function of storing players’ assets. Unlike other gambiling platforms, they don’t store players’ assets on site. All assets are managed by players with a private key (hidden from other players).
Together they are better! DAO and CasinoLand
Since 2016, The DAO, a decentralized autonomous organization, has strayed from the spotlight. However, the development and innovation in the area never stopped.
“Autonomous”
The most important features or functions of DAOs is that their OR (operating rules) are programmed, meaning that they are automatically applied and enforced when the conditions specified are met.This differentiates them from traditional organizations, whose rules form guidelines that someone must interpret and apply.
On the other hand, CasinoLand has integrated the DAO model into the ecosystem. Players will now be able to use one of the most popular Defi features that is Staking to make passive income.
It works on very simple model
- Deposit cAssets
- Start Receiving CLN with fixed saving rate set by DAOCasinoLand protocol.
In addition to this, there are rewards to borrowers and lenders in each asset with a new CLN. Approx. 68K CLN per day has been released to users.
To participate in gambling, players need to convert cAssets to CasinoUSD with 1:1 ratio to USD. These assets won’t be locked and are available for withdrawal anytime. When players use the DaoCasinoLand platform, they are not only able to make profits by winning the bet, but also receive extra CLN. At CasinoLand we understand the concerns of our investors, thus to maintain the value of CLN token, we are introducing two major features into the Ecosystem: Staking and Banker.
Staking for Money Making! CLN token Staking
Casinos are not just for players, we also integrate a Staking system for investors through DApp. Staking systems will be classified by Node types and staking time with Master Nodes share an additional 20% profit from the Casinoland platform every month.
Become the Banker or Agency
Through the combination of DeFi and a decentralized online betting & gambling platform, CasinoLand aims to hand over the market development to the community. Every individual will be provided with necessary tools to become a banker and set their own rules.
Thanks to Defi, now making a truly transparent and decentralized gambling platform becomes easier. CasinoLand is working towards developing a futuristic UI and products to help users to become bankers on their own with some basic prerequisites.
- User need to reach on a certain level status
- User need to deposit a certain amount of CLN tokens
CasinoLand also has a “Invite your Friends” program. After setting up everything, the deposited CLN tokens along with profits will be refunded to the Banker and as a setup fee, the 10% from the profits will be given back to the platform.
Similarly, like the “Become a Banker” program, CasinoLand also has an “Agency” program where players can also generate additional income.
Rules are simple as “Bankers”
- User need to reach on a certain level status
- User need to deposit a certain amount of CLN tokens
In order to generate more income, players need to invite more players and enjoy the commission based on the volume.
This content is generated after taking reviews from active players (on CasinoLand) and a spokesperson from CasinoLand Team.
Editor’s Note: We wish best of luck to the team to gain massive traction and support to make a world class product for the industry
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