Ana Sullivan

Wagerr (WGR Token) - Will You Bet on the Decentralized Sportsbook?

by Ana Sullivan June 8, 2018

Have you heard of Wagerr (WGR token)? Wager is a new project that can be described as a decentralized sportsbook aimed at changing the way the world bets on sports.

WGR Token Market Performance

 

Currently, a single WGR token can be purchased for $0.232347 USD on several cryptocurrency exchanges such as Waves Decentralized Exchange, YoBit, Livecoin, Tidex. The token has been trading 13.93% up against the USD.The token’s value has decreased slightly in comparison with the value registered in January (highest value of $0.9 USD). The market capitalization of WGR is $42,519,501 USD with a circulating supply of 183,000,000 WGR and a total supply of 198,360,471 WGR.

Wagerr Mission and Vision

Wagerr uses distributed blockchain technology to execute betting contracts, the official website says. It escrows stakes, verifies results, and pays out winners. The platform’s goal is to eliminate central authorities and to reduce corruption and risk results in a predictable manner.

As just mentioned, Wagerr is a decentralized sportsbook focused on delivering trustless sportsbetting globally. How is this going to happen?

From the whitepaper:

"Due to its strict use of Application Specific Smart Contracts (ASSC) and 2nd layer networkcontrolled by Oracle Masternodes, Wagerr solves the security, scaling and incentive issuesthat have plagued smart contracts since their inception."

In addition to this, with the help of decentralized governance and contract fees,structuralmechanisms balance Wagerr’s token value by dynamically fine-tuning supply based on thecurrent exchange rate and betting volume within the Wagerr network.

Wagerr (WGR) ICO

The initial coin offering took place last year from 1st Jun to 25th Jun 2017, and it was sold out with more than 8000 participants and approximately 16,000 registered users.

Interestingly, Wagerr already held a test-run betting event which went successfully, and the company not only paid out the winners, but also burned all remaining losing bets and fees.

The event however also allowed the team to discover a vulnerability in the work flow. Due to an error, Wagerr made an accidental overpayment to a few lucky winners. The team explained. A few of the lucky ones cashed out their overpayment creating an opportunity for Wagerr to buy back WGR at a great price. The good thing is that the team quickly figured out exactly what went south, and steps have been taken to prevent similar issues from happening.

 

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