Depalpur, Pakistan--(Newsfile Corp. - August 8, 2021) - The team at WolfyStreetBets announces its readiness to take on the Defi space, particularly the crypto-stock staking sphere. From its invention, decentralization of finance and the cryptocurrency system has remained a great move towards promoting financial inclusion as it affords people the opportunity to carry out borderless financial transactions with less surveillance.
Owing to the transparency, community ownership, and governance of DeFi, WolfyStreetBets (also called Wolfy) seeks to provide an interesting solution in this space. Here are some major points to note:
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WolfyStreetBets Will take on a Billion Dollar Industry
According to CoinGecko, the decentralized prediction market on the one hand, has a market share of around $500 million. This excludes some smaller cap prediction markets that the research did not capture. On the other hand, the centralized prediction market has a wealth share of a whooping $1 Billion, from American citizens only. The gambling market is another fortune of its own, boasting of around $53.7 Billion in online bets alone as at 2019.
"These statistics show that the prediction market is a pile of gold waiting to be mined. And Interestingly enough," began saying a representative of the Wolfy Public Relations Team, "This fortune has been glaring enough for everyone to see. The gap between the CeFi and DeFi systems has been a matter of consistent discourse between FIAT and crypto enthusiasts yet, nobody or organization has thought of cashing in on it. This is one advantage that Wolfy has, being the first to look in that direction."
WolfyStreetBets is 100% Decentralized Reward From
The platform uses blockchain technology and its vision has been the promotion of a decentralized financial system. The platform runs a transparent system which allows for community ownership and governance for token holders. From the first day of participation, community members can hope to start getting rewards. Rewards come in the form of direct transaction fees which are forwarded directly to members' wallet addresses. Members also get rewards from staking assets in the prediction markets using the WolfyStreetBets App.
Because of the decentralized nature of the platform, it does not support team allocation funds or any form of treasury system. After the direct transaction fees are paid out, the available liquidity is locked up in the Uniswap ETH/WOLFY liquidity pool where it can be monitored by all members of the community.
The WolfyStreetBets platform has an interface that is very friendly to users. It contains various forms of chatting tools, risk/reward percentages as well as prediction statistics. It also has a high contrast dark interphase which makes reading very convenient without running the risk of losing any information on the interface.
Token and Tokenization
The native token of the WolfyStreetBets platform is the WOLFY ERC-20 token which is on the ethereum chain. "As has been stated earlier, community members receive frictionless rewards that are transferred directly to their wallets based on the 2% transaction fee which every token holder is entitled to," says a source from the Wolfy Team.
This is very beneficial in generating passive income for community members. The system also operates on a deflationary principle which helps in increasing scarcity and demand on every transaction.
About WolfyStreetBets
Wolfy is an organization that seeks not only to disrupt the decentralized financial systems but also to build a bridge between CeFi and DeFi using the WolfyStreetBets platform. It hopes to achieve this by leveraging on the wide gap between CeFi and DeFi thus providing a deep direct comparison between the two asset pairs through unique and advanced UI features. There are many interesting facts about the WolfyStreetBets platform but here are the top four important things you need to know.
In spite of the innovativeness of the WolfyStreetBets platform, the developers of the platform are still forward looking, exploring ways to improve the platform and give users a better experience. Although the project is currently running on the ethereum chain, plans are already in place to evolve it into a multi-chain ecosystem through a bridge to the Polkadot network and other value-adding blockchains.
This will hopefully increase the value and decrease barriers to participation.
Also, there are plans to move the project into a Decentralized Autonomous Organization (DAO) with the aim of enhancing user participation by allowing them vote on initiatives and direction of the project.
Media Contact
Company: WolfyStreetBets
Email: team@wolfystreetbets.com
Website: https://wolfystreetbets.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92457
