Introducing Wagerr DAO
From the start, Wagerr was designed to be a decentralized network — an entire sportsbook on a blockchain that’s operated by owners, not a centralized team. With v5, that vision comes even closer.
From the start, Wagerr was designed to be a decentralized network — an entire sportsbook on a blockchain that’s operated by owners, not by a centralized team. v5 brings that vision a big step closer.
Wagerr DAO (decentralized autonomous organization) refers to the collective of masternode operators with governance authority to vote for network consensus changes. The new masternode structure of v5 gives Wagerr node operators the power to vote on mechanisms to improve the network and advance the Wagerr ecosystem.
Community members and Wagerr partners can post funding proposals on the blockchain. Masternode operators can approve and fund the proposal by voting to generate a “superblock,” a special transaction that mints WGR and allocates funds to bring the project to completion.
How it works
v5 makes it easy for masternode operators to make an up or down vote on Wagerr Improvement Proposals (WIPs) that are posted on chain. First, let’s take an example of a change to the network protocol. When v5 goes live, masternodes can vote to change the masternode collateral from 25,000 WGR to, say, 100,000 WGR. If over half vote yes, the proposal is ratified. Voting gives DAO members a voice and influence in Wagerr’s future.
Masternode governance also gives operators a mechanism for voicing funding priorities. These priorities could include partnering with:
- Onboarding tools and services
- Centralized and decentralized exchanges
- Centralized sportsbooks
- Social media influencers
- Advertising campaigns
- Sportsbook development
v5 makes all this possible.
v5 infrastructure improvements
Just to refresh, v5 promises faster odds updates. That improves the security of the Sportsbook because up-to-date odds should reflect real world probabilities. A more reliable network with fast transaction times and instant refunds for ineligible bets will also make Wagerr more attractive to individual bettors and third party partners (including sportsbooks, syndicates, and social media sports bettors). More betting means more volume and more rewards.
Wagerr is the first decentralized sportsbook built on the blockchain. It’s a thriving project with growing usage and one of the most heavily used chains in existence. With v5 comes Wagerr DAO and the fulfillment of Wagerr’s original vision: a sportsbook that operates in a decentralized fashion, automatically rewarding the owners and operators for its success.