GambleFi Project, by Insanity Bets ($IBET), has recently launched a presale event which features an Insanity Jackpot of $1 Million.
Keep reading to know more.
This jackpot is not only a one-time event but rather a part of series which will change the position of Insanity Bets in the online gambling industry forever. This isn’t just about the chance to win big with the $1 million jackpot but about the opportunity to be part of a project that’s set to change the online gambling sector big time.
It promises transparency and decentralization to its users. Insanity Bets has a strong blockchain technology, which brings increased security and transparency to the platform. The GambleFi project offers entertainment and investment both by including several games and a strong staking system. The presale of $IBET tokens is not just an investment but an opportunity to get amazing returns later in future.
Blockchain and GambleFi: The Success of Rollbit
Insanity Bets has a strong blockchain technology, which brings increased security and transparency to the platform. Insanity Bets allows its users to have a stake in the jackpot crypto casino by investing in $IBET tokens. This enables the users to fully tap into the potential of the gambling industry by offering them to see the risk-reward ratio themselves.
Role of Rollbit
The success of Rollbit, which saw a nearly 5000% increase in 2023, is a testament to the potential of GambleFi projects. Insanity Bets, with its lower initial market cap, could offer even higher returns to early investors.
Insanity Bets introduces a range of reward mechanisms and token derivatives to incentivize token holding and minimize sell-offs. These include:
- $sIBET (staked iBet): Receives 35% of platform fees and can be exchanged for $IBET tokens.
- $bIBET (burnt iBet): Created by removing $IBET tokens from circulation, holders receive 50% of the platform fees.
- $esIBET (escrowed iBet): Rewards $sIBET holders, compounding staking rewards.
- $ILP: The Scalability Factor, representing an index of $USDT, $ETH, $WBTC, and $IBET pools, is crucial for the platform’s scalability. It fuels the house fund and enables larger bets, with holders sharing 90% of the house’s profits (and losses).
Insanity Bets maintains a house edge of 1% to 5%, ensuring fair play and reducing the risk of long-term losses. The cap on bet size also shows the platform’s stability. The $IBET presale is structured in multiple stages, offering significant discounts to early birds.
That’s all we have for you today!
Keen on keeping up with the fast-paced crypto news? Make Reading Crypto your go-to destination for all crypto-related stuff.
Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.
