Frequently Askqued Questions

defibet.house is a web 3.0, social, peer-to-peer (P2P) betting and prediction markets trading platform (dApp). Create your own bets over any topic and challenge your friends and the community. As a Bet Maker, earn a share of the total betting fees generated.

Yes, defibet.house will be available to download or free on iOS and Android.
We will develop a web app as well to be accessed from Desktop.

We are a P2P betting exchange platform. With us, bet whatever, whenever, and however you like. Bet either against your friends or the community. The choice is yours. There are two ways to engage in the betting activity of Defibet. You can either trade outcome shares on the Prediction Markets associated to Events, or create / accept specific P2P Bets on any event within the community or among friends. Bets are customizable, which means that your bets match your style. Plan and create fresh betting challenges. Share and engage with a worldwide audience. Content creators can plug in their video streaming feeds and create bets and markets associated to them in order to earn fees. For example if you are a Twitch eSports streamer, you can plug in your channel and begin to earn a commision from the bets that are made in your events.x The liquidity that is commited to the P2P bets is locked in an external lending protocol in a trustless way, in order to generate APY and provide an extra utility to the liquidity of users.

In defibet.house you are free to both create events and markets and participate in any public bet and on any prediction market. Plus, when invited through friends, you will be able to enter and take part in private bets.
To join Private bets, you need an invitation from the creator (Bet-Maker). Public bets have a global reach and unrestricted access, which means you can challenge people on the other side of the world. Prediction Market Trading is open to all users and outcome share prices (odds) are set by users bid and ask.

defibet.house applies a twist to the P2P event betting on the Blockchain model by leveraging the power of DeFi. Liquidity locked in bets via smart contracts is put in a trustless manner into external lending protocols such as Aave in order to generate a second revenue stream in the form of APY. After the outcome of the event is known and the bet smart contracts are resolved, bet participants are rewarded according to their selections, and also each of the bettors get their proportional share of the APY generated during the time the bet has been active.

1. Users can engage either as Bet Makers and/or Bet Takers. Bet Makers create P2P smart-contract-based bets associated with Events (either previously created or new) and offer them Publicly or Privately.

2. Bet Takers take on the bets offered by Bet makers.

3. The liquidity locked in the bets until event resolution is deposited autonomously and securely into external lending protocols such as Aave to generate APY.

4. Once the event outcome is known and bets are resolved, users will receive the bet payout according to the side they chose to bet on. Also, they will receive their respective share of the APY generated for the time the bet amount was locked in the smart contract.

5. A fee ranging from 1-5% depending on user level is taken from the winnings of the bet to be distributed as platform revenue among defibet.house stakeholders. Bet Makers earn 30% of the total fees generated from the total betting volume over the respective Bet.

6. A platform fee of 15% is applied to the external APY generated Bets made with DBETH token will always have a lower commission, regardless of the User Level. User-level tiers: depending on staked tokens on the DBETH Pool and other activity based metrics, users will be able to obtain fee discounts on their winnings when betting with all criptocurrencies.

Derivative event trading on the blockchain works as an exchange of smart contracts that, based on the outcome of the event, settle how participants are rewarwed. Users have to create the events and provide liquidity to the AMM market pools. Once the market has liquidity outcome shares (yes/no) can be bought and sold until the resolution of the market. Liquidity providers earn half of the fees generated from the trading volume generated.

Once a P2P bet offer by a user has been taken by another user (Bet Taker), the bets are irreversible and cannot be canceled. Funds will be released to the winner according to outcome resolution. The estra APY generated during the the time the funds were locked will be distributed to bettors. No. You cannot cancel bets.
At defibet.house, we believe in the importance of transparency, as we value fair play by and for all participants.

No. Public bets are available for every user of defibet.house. So it doesn’t matter that they aren’t your followers. In this line, you can also join ALL public bets that users make on the platform.

When no one enters your bet before the timeframe set by the Bet Maker, it comes to an end the Bet-Maker receives an automatic refund.

To be able to resolve the events and allow the smart contracts to release the funds according to results, the platform needs to receive information from the physical world.
To receive and verify information from the real world, defibet.house will use various Oracles.
defibet.house operates with two forms of oracle verification system:

– Oracle via API: does not need manual verification, events will be resolved automatically via integration of data feeds.

– Oracle via NO API: works via user evidence verification and a decentralized Arbitration Committe for dispute resolution.

Suppose a result is reported as fixed or unfair, and one of the participants complain. Then, it becomes flagged, and the dispute goes to arbitration. The arbitration panel will be integrated by users of the app that have not entered that bet. The arbitration, in case there is a dispute between two users, is carried out by three users. We require at least a 60% agreement for the arbitration to be deemed fair. In addition, arbitrers will be rewarded with tokens.

Of course, you are welcome to! All users will be able to stake DBETH Tokens in order to became judges of the defibet.house Community Jury and be selected as Jury member for the resolution of disputes arising from bets in the community.

defibet.house platform is optmimistic by nature and trusts its community to provide accurate event resolutions. In order to maintain this non-toxic culture both users and judges that provide wrong outcome resolutions or raise faulty disputes will be given penalizations, and can even result into a user ban with repeteaded wrongdoing.

Yes, you can bet with all cryptocurrencies, as long as they have a monetary value. All bets have a commission, depending on User level they will have lower commissions and bets done with Dbet Token will have the lowest commisisons.

The DBETH Token is not only defibet.house own currency, but it’s a Utility Token. Designed for the user’s convenience; in other words, it’s projected to operate within the platform covering a wide range of options from placing bets, lower commissions, staking for passive income and governance rights.

The Utility Token (DBETH) is expected to become available across several decentralized and centralized exchange listings. Sign up now to stay updated!!

Once you own your Utility Tokens (DBETH), use them to participate in the defibet.house community actively. Both in bets, you create and those you join. Also stake to obtain a share of the platform fees and participate in governance voting.

In defibet.house, when you sign up with your email, you automatically get a non-custodial wallet into your profile, which can be topped up easily with your credit card or bank account deposit.

A smart contract is a computerized transaction —expressed as a piece of code— stored on a blockchain. A self-executing protocol that runs automatically when the predefined conditions meet. By being digital and automated, no person or company controls the storage or processing of the data; as a result, there are no third parties involved.

Yes, the defibet.house ecosystem will feature a comprehensive referal program that will reward its partners. Become a partner and help grow our community while sharing the revenue generated by the user base introduced. Stay tuned to know more!

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