DAOBet (ex. DAO.Casino) Begins Process for BET Token Swap on its Mainnet

It is common knowledge within the iGaming industry that blockchain technology introduces far greater advantages when compared with incumbents; with more transparency, safety, and efficiency serving as irrefutable evidence to the optimizing gaming processes and experience. And now, the launch of DAOBet’s (formerly known as DAO.Casino) mainnet – a huge milestone for the platform – heralds a new era for operators, affiliates and game developers in the gambling industry.

The iGaming 3.0 Blockchain Platform

DAOBet is committed to driving the blockchain-related disruptions happening in the gambling market as it expects it to grow exponentially over the coming years. To this effect, the platform aims to encircle all industry participants from players, bankrollers, game developers and providers; to utilize its high throughput blockchain and native BET tokens.

DAOBet’s blockchain is being designed with the EOS infrastructure as a base layer, from which tweaked codes are expected to improve the transaction speed and throughput. The developers had been working on the testnet, and now they are considering it product-ready for public launch.

To begin with, the platform will swap its Ethereum-based token over to the native mainnet, which will further improve the utility of the native token once the mainnet is fully operational.

The DAOBet mainnet will feature:

Latency and Throughput: With a block time of about 0.5 sec, DAOBet’s blockchain could well be ranked among the fastest blockchains in the industry. It also promises a transaction throughput of as much as 2,000 tx/sec, which could be ideal for uninterrupted gaming operations.

Fast and Scalable: with high its high processing speeds provided by deterministic block finality via sequential block confirmation among the majority of verifier nodes, DAOBet’s blockchain could sustain an ambient buffer in its throughput as the ecosystem scales. In other words, the network will not accommodate congestion.

Secure and Decentralized: DAOBet’s validating network comprises of as many as 100 decentralized validators to ensure the impermeability of the network and maintain full decentralization of transparent operations.

Provably Fair Algorithm: with its DAOBet’s provably fair Signidice RNG Verification model, DAOBet is able to offer its users the best, fair and transparent gaming experience in the gambling industry. The Signidice RNG Verification is certified by Gaming Laboratories International, a globally recognized authority body for the iGaming and gambling industry.

And finally, DAOBet’s dynamic ecosystem will allow its users to create custom games and launch them on the mainnet, and play with other users or easily monetize them through the platform. However, to be able to create or host a game, users will need the native BET token which will soon become operational.

To Swap, DAOBet introduces DAOWallet

For holders of the ERC-20 version of the BET tokens, it is important to swap to the new native BET mainnet token before they are burnt. The swap process requires a four-step signup process on the custom DAOBet web wallet DAOWallet, followed by a deposit of the required amount of ERC-20 BET tokens to be converted to the native BET.

To swap, follow these steps:

  1. Create a DAOWallet here. Login if you already have one.
  2. First-time users should enter an email, use the validation password sent to the email, and create a personal CODE (instead of password) plus recovery phrase.
  3. Once logged in, click the BET (ERC-20) button.
  4. Click the Receive button to get a receiving address and QR code. Send the ERC20 tokens to this address.
  5. After receiving confirmation of the send, click the Convert button to begin the conversion. Make sure you have enough ETH to pay for the gas cost of this transaction.
  6. You will be asked to enter the amount of ERC-20 tokens you wish to convert. Select the required amount and press the Convert confirmation button below. A pop-up will inform if your conversion was successful.

The DAOWallet will allow users to easily manage their cryptocurrency assets and allow them to receive payouts directly into their wallets. Currently, there are only 4 assets to be supported by the wallet: BTC, ETH, BET (native), and BET (ERC-20). Users can send, exchange, receive, or convert (applicable to only ERC-20 BET tokens) assets stored in the wallet. Here’s a video walk-through on how to migrate and claim the new token being issued.

For advanced users, tokens can be staked directly from the wallet, allowing them to share in the reward of 16% of total supply per year.

Visit the https://daobet.org/ for more information about the DAOBet platform, or https://daobet.org/swap to begin the claim process for native BET tokens.

Disclosure: This is a sponsored article

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