CHIPZ (CHPZ) is a cryptocurrency that aims to revolutionize the gambling industry by introducing decentralized finance (DeFi)-backed solutions for betting scenarios. It offers gamblers the opportunity to stake their assets and earn yield over time based on the outcomes of major events. By staking their CHPZ tokens, users can earn USDC from the Revenue Share Pool, which operates without the need for Know Your Customer (KYC) verification or limitations.
In addition to traditional betting options, Chipz will provide a lending protocol integrated into the bets. Users also have the ability to create their own betting rooms and earn a percentage of the betting stakes. Moreover, Chipz will host special DeFi betting events centered around major world events such as championship matches, political elections, and even the future price of Bitcoin in 2024.
A notable feature of the CHIPZ token is that users can speculate on its value while engaging in bets. As the token's price increases, users can accrue value while their bets are active. Furthermore, the platform offers a 15% Annual Percentage Yield (APY) staking reward during the betting period.
For instance, users can make bets with their friends on various events like the Superbowl or the next presidential election. They can place these bets in advance and earn a 15% APY yield from the time of placing the bet until the event takes place. Moreover, Chipz expands beyond traditional sports betting and enables betting on livestream videogames or any other obscure wager.
Chipz has already released staking, a lottery system, and a racing game. The betting arena is scheduled to be released in December 2021, with a comprehensive roadmap outlining planned product releases for 2022.
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