Betswap

[cmuddle]

Just found this site recently, it's web3 decentralized betting exchange still in test mode and behind schedule but looks promising,

https://betswap.gg/

somebody got fed up and created this

looks very promising

what do you think guys?

[ikky]

The Betswap.gg stable coin you need to use as a currency on the exchange has dropped 65% in the last yr.

BSGG is the tokens name. Currently 0.028407

[ShaunWhite]

You can tell when a company is all about the venture capitalists when you get wanky statements like "Betswap is powered by the Ethereum layer 2 Polygon. The platform utilizes a governance token...". A new exchange needs new losers and when most people don't know a back from a lay that's hardly a 'must use' incentive. The survivors will be firms offering more immediacy and 'fun' via value added content layered over an exchange, the tech side of an exchange is a piece of piss really so where's the big new idea to pull in the punters?

[MattP]

I can't find it now but a few weeks ago I read an article about one of these decentralised, blockchain, voting rights startup projects getting virtual ram-raided.

Basically someone secured voting rights, proposed a rule change that all money should be given to them, voted in favour then emptied the pot! It took a few seconds to complete.

It was reported to the FBI but the founders (not owners) conceded that the attack followed the rules and accepted it wasn't something they had ever envisaged happening.

I'll stick to pound coins, at least I know who's stealing those.

Update: This is the link to the article. $80m in 13 seconds and they stuck to the 'rules'.

https://www.theverge.com/2022/4/18/2303 ... dao-voting