Betpoint The Betpoint Core Team Abstract Betpoint Live is an open-source, community-driven web and mobile based sports betting platform powered by DEFI and blockchain technology. On this platform, people can connect their crypto wallets, and place bets using the stable BUSD cur- rency. Winning bets will also be rewarded with the stable BUSD. Everything is automatically handled via smart contracts. Once a bet is placed, a smart contract with the user’s wallet is executed. Winnings are automatically deposited into the wallet address after the match is over. Contents Introduction 1 Project goals 2 Current problems 2 Token model 2 BETP Token 2 Token supply 3 Technology 3 Conclusion 4 Introduction Betpoint Live is an open-source, community-driven web and mobile based sports betting platform powered by DEFI and blockchain tech- nology. On this platform, people can connect their crypto wallets, and place bets using the stable BUSD currency. Winning bets will also be rewarded with the stable BUSD. Everything is automatically handled via smart contracts. Once a bet is placed, a smart contract with the user’s wallet is executed. Winnings are automatically deposited into the wallet address after the match is over. 1 Project goals In as simple terms as possible, to build the most powerful, limitless and decentralised sports betting platform with the power of commu- nity. We aim to make this the most successful community project on the blockchain, with passionate people contributing as little as they can to something they are passionate about, and ripping life-time for- tunes. Current problems We see a number of problems with the current betting industry, and with the power of our new platform, we strive to solve some of these problems: 1. Restrictions based on locations. An Asian will have a very hard time going through the KYC process of US based sports betting platforms, and can therefore not participate in leagues such as the NFL even if they are huge fans. Betpoint is fully decen- tralised, and all you need to do is connect your wallet, and pro- vide no further information. No KYC, No documents, no emails, just your cryptocurrency wallet. 2. Overcoming bookmaker challenges. We aim to provide a very low barrier to entry for those who want to become bookmakers themselves and host their own betting arenas. This not only cre- ates a revenue stream for bookmakers, but gives multiple op- tions to betties on where to place their bets. 3. Fees and profit margins. Because we are using blockchain technology (specifically the Binance Smart Chain), and have no house or middleman, we can use smart contracts to reduce betting fees as much as possible. Token model The Betpoint platform is powered by the Betpoint Token (BETP), and will leverage the BUSD stable coin to provide additional platform func- tionality. BETP Token Betpoint platform token (with ticker BETP) have three core functional- ity and utility: - Security - Feature access - Governance 2 Betpoint tokens are staked as collateral to unlock a range of added services. Bookmakers would be required to hold a certain amount of BETP to be able to open betting arenas. The type of arena they can open will depend on their staking tier. Staking tiers will be released and explained after extensive community feedback and communica- tion. Betters will also be required to hold a minimum amount of BETP to- kens in order to place bets. Keep in mind bets will be made in BUSD. These tokens in their wallets will remain untouched as they make bets, but their wallet BETP balance will be checked by the decentralised ap- plication smart contracts before allowing them place bets. These BETP requirements will enable continous growth of the value of BETP tokens, making sure they’re always in demand. Any BETP staked on the platform will earn an additional 75 - 100% APY A future part of the Betpoint platform involves resolving critical con- flicts and issues that will inevitably arise from bets and betting arenas. Community members who stake their BETP to a certain tier will be able to vote on decision making to resolve such critical matters. Token supply The initial total supply of tokens will be 100m. The supply and distri- bution are shown below: • 10% Team Tokens Locked (2.5m released every 3 months) • 25% Private Sale • 20% Public Presale • 15% Dex Liquidity • 15% Advisors and Marketing • 15% Product development Technology The Betpoint platform has an amazing, experienced engineering team, and will be getting even more experienced blockchain engi- neering leaders to see this vision come to fruition. All operations and decisions on the platform will be controlled by highly vetted and thoroughly tested smart contracts. These smart contracts will be open-source for the community to review and approve before they are deployed to the blockchain. 3 All smart contracts will be written using the OpenZeppelin smart con- tract framework for more security, reliability and speed of develop- ment. To keep track of smart contract conversations and even comment or participate in feedback and implementation logic, you may follow the technical development on the source control platform called Github Conclusion In this paper, the Betpoint platform and BETP platform token were explained in depth. The Betpoint platform intends to use the power of community, and build the world’s most powerful betting platform without limits. The BETP token will provide tons of additional utility to ensure continuous token value and liquidity availability. The only thing one needs to become a bookmaker or better is a Binance Smart Chain Walelt and hold some BETP tokens. We together as a commu- nity will build the greatest platform for sports betting. 4