First event burns 125k $WGR!
For Wagerr's 1st betting event, 125k WGR was removed from the total coin supply. Many bets were placed on Canelo vs. GGG match. The blockchain "burns" all $WGR when bets are placed, then "mints" new WGR to pay winning bets. The underdog won and much more WGR was burned than created: Net deflation.
Canelo vs. GGG match burns 125,000 WGR
The first weekend of action on the WGR betting market saw over 400,000 WGR bet.
Because bets are burned up front and new coins are automatically created (minted) to pay winners, an underdog win for Canelo resulted in a net burn. Anyone can track the net mint or burn on the Wagerr block explorer.
Explorer shows betting details
Check out explorer.wagerr.com to study the details on any bet or network transactoin. The following image shows the losing bet that contributed most to the net deflation for the Canelo vs. GGG bout.
Deflation is a win for WGR holders
In total for the event, 125,000 WGR was removed from the total coin supply.
Deflation is one of many ways to win with Wagerr.
World's first Direct-Chain betting protocol
On September 15, 2018, The Wagerr Team launched the world’s first Direct-Chain betting protocol, creating an unrestricted, decentralized, and globally accessible betting application with unlimited liquidity.
With a betting fee of just 6% on winnings and the best odds in the business, Wagerr users can place bets and get paid automatically. No middlemen. No funny business. No censorship. Just pure fun.
Ready to Disrupt
With the release of its blockchain betting application Wagerr aims to disrupt one of the world’s largest industries.
Stay tuned to our social media channels for updates so you don't miss out on history in the making!