Degens: The Ethereum Betting Exchange

SportCoin

2012: SportCoin

SportCrypt

2017: SportCrypt

Degens

2019: Degens

MakerDAO

MakerDAO — These guys rock
  • Users can now bet with DAI, the leading stable-coin asset
  • Our smart contract has been audited by Quantstamp, a highly respected blockchain security firm
  • We’ve developed a “mesh” protocol that allows us to distribute the orderbook across many nodes around the world
  • We’ve upgraded our servers and are distributing their locations geographically for better performance for our global user-base
  • Mobile-first: Our website has been reconfigured to provide first-class support to mobile browsers such as Trust Wallet and MetaMask Mobile
  • Language translations: Our interface will soon be translated into several languages so we can be accessible to a wider audience
  • New market making tools are in the works which will make it much easier to run market making businesses on top of the protocol

Timeline for 2019

  • Oct 1st (today): degens.com is live on mainnet! Adventurous users can give it a try right now. Please report any bugs or other suggestions, and excuse us while we iron out the issues that will inevitably come up.
  • Oct 15th: We will release the source code for “bookie-kit”, a program for market making on top of the degens protocol. It will include a base class and examples for connecting to odds providers, adding/reducing mark-ups, and posting your own orders to the degens network. In addition there is also a web interface that makers can use to control and monitor their books.
  • Nov 1st: We will release the code for “degens mesh”. This will allow anyone to mirror the orderbook for improved latency, archival purposes, or to participate in the network in other ways. For instance, arbitrage bot operators and matching-mode relayers will likely choose to run their own specially-configured nodes.
  • Dec 1st: We will release the code for “whitelabel-kit”. This is a set of javascript files and react components that will allow anyone to make a custom-branded interface that uses the degens protocol as a liquidity and hedging source.

Three-Pronged Strategy

  • Supply-side: In order to create a vibrant market, there needs to be liquidity. This is where bookie-kit comes in. With it, users can run bookmaking businesses on top of the degens protocol. They can either take advantage of the open-source plug-ins we provide or, if they are technically inclined, develop their own proprietary rate-source connectors and/or trading algorithms.
  • Distribution: The degens mesh software will allow low-risk business models to be built on top of the protocol. These can be based on arbitrage, or by implementing various provider strategies described in our protocol documentation. In addition to improving market efficiency, this will help to decentralize and strengthen the network.
  • Demand-side: The degens.com web interface should be familiar to anybody who has used betting exchanges such as BetFair or Matchbook. However, not everybody will be comfortable with such a design. With our whitelabel-kit, entrepreneurs will be able to focus on building great front-end interfaces and tap into the degens protocol as a liquidity source to collect risk-free profits by atomically hedging user orders.

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