AMA RECAP: DeFi Raccoons X Dexsport

Hey there Raccoons! Last week one of our shabbiest Raccoons, Bobby Blocker, left his Gem Village and sat down to talk with Vyacheslav Ermakov, the CFO of Dexsport. If you happened to miss their talk, you’re in luck, because now you can read the recap of the AMA bellow, right after you check out Dexsport’s socials:

🔸Website https://dexsport.io/
🔸Telegram https://t.me/dexsport_en
🔸Twitter https://twitter.com/DexSport_io

Enjoy!

Recap of Dexsport AMA, Oct 10th 2021

BobbyBlocker:

Hello everybody, thank you for joining us today for another DeFi Raccoons AMA session! Today we’ll be talking with Vyacheslav Ermakov, the CFO of Dexsport!

Vyacheslav Ermakov:

Let’s go!

BobbyBlocker:

Dexsport is currently working on becoming the first decentralized betting platform of crypto. Welcome once again Vyacheslav! Great to have you here! Please introduce yourself to the Racoons!

Vyacheslav Ermakov:

Hello once again! My name is Vyacheslav, CFO of Dexsport. Very glad to be here.

BobbyBlocker:

Let’s get comfy! Tell us a bit more about your background, how did you come to be the CFO of Dexsport, do you know Satoshi or did you just buy some NFTs earlier this year, lol

Vyacheslav Ermakov:

Of course. My background starts with investment attraction to different sectors of economy, then I worked in IT a lot, and of course crypto, I found out about crypto in early 2013 and since then involved to crypto 24/7 🙂

BobbyBlocker:

Ooooh, early 2013, we got an OG in the house bois!

Vyacheslav Ermakov:

I am Satoshi, actually 😜

BobbyBlocker:

Just kidding, glad to hear you’ been around for such a long time. Means you’re probably as bonkers as the rest of us by now😄

So, we like to start off with an elevator pitch — can you please explain what Dexsport is, what are you guying trying to build, to the raccoons that may not ha yet heard about it? Just imagine you’re in an elevator with a raccoon that’s eying you hungrily.

Vyacheslav Ermakov:

Hahahah, ok. I’m pretty sure that you all understand that the gambling market, for decades, has been occupied by monopolists who have controlled the odds for various events. Because of this, many users cannot get their payouts quickly even after winning. There are strict payout measures and tough identification procedures which can frustrate the average player. This creates a terrible user experience and an increasing entry barrier. With the development of Decentralized Finance we are entering completely new era and those who understand this will be on the top of the wave. So, the idea to create Dexsport appeared because of abo mentioned reasons. We built the first ever completely decentralized betting platform where users are playing with a shared pool of liquidity. Our project is the fusion of two large groups crypto community and people who los betting. Our biggest dream and the main aim is to show people how easy and safe betting can be. The platform is fully operational now in the testnet and you can proceed to Dexsport.io in order to ensure in that. Started with a little introduction in order for all of you to understand what we did 🙂

BobbyBlocker:

I actually had a joke about crypto being a huge bet in itself, but you made me jump the gun there. But yeah, I think it’s pretty safe to say that anybody doing crypto has some tendency for gambling so you’re certainly barking up the right tree here, haha.

Vyacheslav Ermakov:

exactly 😂

BobbyBlocker:

And I see you’ve identified quite a few issues in the niche you’re trying to resolve. That’s always a great thing and I like to ask about it, shows what gives you a wedge to “disrupt” that market

Vyacheslav Ermakov:

It’s impossible to implement something new without understanding of the issues 🤝 And it is what all DeFi about, to disrupt the common order of things.

BobbyBlocker:

So, what drove you guys to building Dexsport? How did you came up with the idea itself?

Vyacheslav Ermakov:

In team we have guys with huge experience of work in betting market, the idea appeared occasionally during one of the meetings, to be honest. The idea that drives us is the revolution for whole betting market. Because we know how to make in easy and enjoyable, not as it is right now. If you understand what I mean 😜

BobbyBlocker:

So, you’re telling me you’re building a platform that will always let me win? Great stuff! I’m looking forward to the easy and enjoyable experience!

Vyacheslav Ermakov:

Oh, nooooo! 🙂 It depends from your knowledge of sports/events and luck. But we can assure you that in case of winning you will never er face any problems 🙂 This is the main thing 😁

BobbyBlocker:

Oh well, it was worth a try:)

BobbyBlocker:

You’ mentioned you guys come from the industry? I like what I’m hearing. Tell us more about the core team, I’m sure you’ got some other experts as well😊

Vyacheslav Ermakov:

Some of us, yeah. All of our team members are dedicated in various spheres of private and public sectors, such as project management, development, crypto market and of course classic betting. One of the team members is a CEO of classic betting platform with more than 10 years’ experience. Advisors are also top level and very familiar with betting .Btw, you can find more detailed information about our team and Advisors on our website dexsport.io

BobbyBlocker:

Sounds good! And what about your dev team? How many people are currently working to deliver the platform?

Vyacheslav Ermakov:

Oh, let me calculate 😂. For now, it’s 15 people approximately 😁

BobbyBlocker:

Ah, great — we’ come to think that’s the optimal number, somewhere between a dozen and twenty people. Gets stuff done but is sustainable over time. I always wonder why don’t projects that raise like a trillion dollars don’t get more devs if they have all that money to spend.

So, as we’ mentioned, betting isn’t a new concept in crypto, in fact this whole space is a bit of a bet. And we’ had quite a few projects go into betting. So, what sets you guys apart? What’s the edge that will allow you to succeed where others have failed, to sound homeric?

Vyacheslav Ermakov:

Very good question 🙂 Of course we did some research, and this is what we understood: First of all. We have no competitors at the current market at all. The same is accurate for the past projects. If you will research them a little, none of them tried to build the platform, which we have already built. I mean classic betting platform with fully available betting line, but in crypto.

BobbyBlocker:

Ok, fair point, there is so many half-baked projects out there, big promises and no deliveries. MVP was a 2017 meme, but still, a working product is what you need today.

Vyacheslav Ermakov:

They were all about P2P betting. Let me a little bit more time And I’ll give you our advantages also 🙂

BobbyBlocker:

Oh, don’t mind my rambling, please go on😃

Vyacheslav Ermakov:

In comparison to P2P betting platforms existing in current market. This comparison will be wrong, because you can’t compare incomparable, but nevertheless. There are no such kind of platforms that can compare with ours 🙂 First of all, as I said before we ha classic betting line and people play with a shared pool of liquidity. That is the thing that nobody in the market has. It we will go a little bit more deeply, so the advantages of our platform are: 1) fast transactions; 2) nearly instant payouts; 3) no KYC; 4) Li betting on various events; 5) Single token for economy;

BobbyBlocker:

Mhm, can you explain how the shared liquidity pool would work?

Vyacheslav Ermakov:

Of course, explanation for newbies would be ok?

BobbyBlocker:

Yes, pls. We’re in it for the technology, but some others may not be😇

Vyacheslav Ermakov:

So, you connect metamask, after that deposit money to the platform and make a bet. Bet goes to the pool. If you win, you can instantly withdraw your winnings or to send in to the pool to continue playing. If you lost, your bet remains in the pool. Very simple 🙂

BobbyBlocker:

So, it’s a trustless system, right? And what’s on the other side of pool? The guys betting against me? And then the winnings are paid from the other side of the pool?

Vyacheslav Ermakov:

Yes, it’s completely trustless and no, the pool is initially filled by our own funds, so there are no sides, as well as no middleman. And all bets fulfill the pool and its capacity.

BobbyBlocker:

Oh, I get you. I understand what you said about not being p2p now, since they are betting against you, like you would do with a proper betting provider. Sounds good.

Now, you’ mentioned fast and cheap transactions, you guys are building on BSC, right?

Vyacheslav Ermakov:

Sure. Want me to answer why — cheap transactions and stable work, mate it is the most important for now. And a lot of users, btw

BobbyBlocker:

I’m always happy to see a project not falling under the alure of ETH. And people hate on BSC for no reason imo. Yeah, it is centralized as somebody’s back yard, but a 5c transaction goes through in 15s, I mean come on.

Vyacheslav Ermakov:

Imagine if you make a bet of 100$ and give fees 100$ on the odd 2 — makes no sense.

BobbyBlocker:

Yeah, we’ had projects with that issue -trying to place a 20$ bet with a 150$ fee in the middle of the bull run. Not the best way to foster adoption, haha.

Vyacheslav Ermakov:

Yeah 🙂

BobbyBlocker:

Can you tell us more about the platform itself? What stage is it at right now? Can people already bet on events?

Vyacheslav Ermakov:

For now, it’s only a classic betting line (with LIVE betting also). But I’ll give you milestones of our future development:

As the next development directions in addition to a classic betting line focusing on: prediction betting on various events, P2P betting, Play to earn betting (HOT!) and NFT marketplace. In order to properly implement all the above, we are planning to make exciting strategic partnerships with play to earn projects also (already started negotiations). Moreover, as a betting platform we will definitely make partnerships with sports teams and individuals to make exclusive NFT collections available for DESU token holders. By the way we already have some partnership agreements with Dota 2 teams and influencers, and I’ll explain why.

Yesterday we closed the first pre-launch contest of Dexsport — Dota 2 Prediction contest. You can find info about it in our official channels and at Dexsport.io as well. Was a quite interesting experience 🙂 Pretty sure that all of our community members liked it, and some of them will win a guaranteed allocation to our upcoming IDO. We will launch the second pre-launch contest very soon, so stay tuned, don’t miss the chance to be rewarded 🙂

BobbyBlocker:

Ah, I’ been meaning to ask you about that, I’ seen a feature that’s yet to come on your website — betting on p2e games. Dota isn’t p2e as far as I know, but there is a TON of p2e games atm, seems like half the crypto is working on them atm.

Vyacheslav Ermakov:

So now we are working to conduct significant partnerships with some P2E games and build betting line especially for them 🙂 That’s all that I can say about it for now, so stay tuned and let us do our work 😂

BobbyBlocker:

Haha, ok, ok, I’m not rushing you. Take your time. But I like the concept, I’ve figured it might be something like that. Opens you up for a ton of marketing partnerships

So, you’ mentioned an IDO. I don’t know why, but there is always a token involved when we do these AMAs. Tell us more about the token, $DESU. How does it fit into all of this?

Vyacheslav Ermakov:

Token is one of the most important instruments for sustainable development, you know 👍 Here I would try to cover all aspects of our $DESU utility:

First of all, $DESU is the native token of our upcoming blockchain built to ensure accurate validation of betting odds, as well as providing transparent mathematical models for gaming platforms and providers. $DESU is serving as a cashback currency depending on the monthly betting volume of every $DESU holder; $DESU holders will be eligible for participation in lotteries on our platform.

$DESU holders will ha access to limited NFT collections and famous sports teams’ merch which are the result of our partnerships; You can tip and donate $DESU to every dedicated user of the community, who predicts outcomes of various events. And the last — third party developers can develop Dexsport infrastructure. $DESU holders will enter the DAO when they will participate in the development of the platform by voting. $DESU token holders will ha premium access to the new features of the platform.

And we will add more utilities with the development of the platform, ofc.

BobbyBlocker:

Ok, I can see you guys thought long and hard how to integrate the token into all parts of the project. I’m liking that, proper utility vs whitepaper money raiser. There is also an upcoming IDO for $DESU, right? Can you tell us more about that?

Vyacheslav Ermakov:

Sure, we will make an IDO through the most recognizable launchpad at BSC, BSCPad 🙂 So it is a chance for you to buy some BSCPad tokens in order to ha access to the Tiers 🙂

BobbyBlocker:

Ah, very nice, we’re familiar with BSCPAd, they are long standing friends of the raccoons.

Vyacheslav Ermakov:

Glad to hear that 🙂

BobbyBlocker:

Well, we wish you all the luck with the IDO! We like to round things off with a look into the future, so can you share with us an upcoming event or development you think the community should be looking forward to? (apart from the IDO and the listing, we know those are exciting in their own right, hahah)

Vyacheslav Ermakov:

Thanks a lot! 🙂 Let’s start with pre-launch events and then move forward. We have 2 contests, one of which is already finished. It’s kind of preparation to the launch of mainnet and rewards for the most dedicated community members 🙂

Then we will launch mainnet (at the beginning of November) and go through IDO and other stuff (at the middle of November)

We are also the first project to sponsor the Tenset infinity aidrop program, btw. We are the Diamond sponsor

BobbyBlocker:

Great stuff!

Vyacheslav Ermakov:

We decided to join the forces with the guys which we are really like. In order to properly prepare for successful launch

BobbyBlocker:

Cross-promoting against multiple communities makes sense indeed. Great for exposure.

Vyacheslav Ermakov:

Then, I’ already told you, that P2E betting implementation is our priority. So, we will be focusing on that in Q4 2021

BobbyBlocker:

I can see a lot of people being into that, great to hear it’s among the first priorities

Vyacheslav Ermakov:

In the beginning of the new year 2022 (if we will stay alive after holidays, lol) we will move to the development of prediction markets betting in Q1 2022

And will start implementing NFT marketplace. Because to that time we will already have a lot of partnership and sponsorship agreements with teams and individuals from every sport.

BobbyBlocker:

Makes sense to tie it in with your marketplace — I was looking at NFTs on BSC the other day and there really isn’t much choice when it comes to marketplaces, seems like everybody just makes one of their own

Vyacheslav Ermakov:

We can do in even later, but it would be VERY exclusive NFT collections 🙂 So, this is a milestones of our roadmap 🙂 Because you know, each project trying to do some unique stuff in order to keep its users warm and reward them for being a part of the project

BobbyBlocker:

Yeah, it does make sense, there’s no way you can put so many different applications and niches under one roof and everybody is looking to include NFTs into anything they make these days — you either adapt or fail in this market.

Ok, sounds like you’ve got your path charted out nicely, we hope you get there sooner than you’re expecting😊

Vyacheslav Ermakov:

Hope so!🤗

BobbyBlocker:

I’d like to thank you for coming in here tonight to talk to us about Dexsport Vyacheslav.

Vyacheslav Ermakov:

Was my pleasure. Thank you for your time also 👍

BobbyBlocker:

I think we’ve covered the basics and let people know about what you’re trying to build and I think we can take some questions from the raccoons now.

Vyacheslav Ermakov:

I think so too 🙂

Community questions round, Dexsport AMA

CQ1: Hi🌸💎 Vyacheslav, can you tell me what are the characteristics, requirements and rules of betting on DexSport? Will there be betting variations depending on the type of tournament in each sport? Or can you bet on the match? And what sports will initially launch on DexSport? And Is your platform suitable for beginners? Or is it only of interest to professional users?

Vyacheslav Ermakov: Hello! There are almost no rules, you can bet on every event that is included in our betting line. The only restriction will be the maximum amount of bet. Our platform is very suitable for beginners, you need only one knowledge — how to use Metamask wallet. 🙂

CQ2: Do you preffer gambling in casinos or betting at bookies 😁

Vyacheslav Ermakov: Hey mate! So, betting is our priority, that’s why we prefer betting!!!

CQ3: Do you have plans to introduce NFTs to the future development of services to your platform? That is, Dexsport could be a good model to paint within NFT canvases. So is it possible that we could get some unique collections or a tradeable market for NFTs?

Vyacheslav Ermakov: 100% YES! Even can’t add something because already described 😂

CQ4: The algorithms behind many gambling games are not transparent, so true justice has been done in some gambling games. How does DexSport guarantee fairness to in-app players? Apart from that, what are the extra benefits given to DESU token holders in Bet?

Vyacheslav Ermakov: I’ll be short here, we are Dapp (decentralized application working in DeFi) so we are fully transparent. You can see all the transactions in smart contracts. Regarding $DESU — alrady covered 👍

This concludes our AMA recap for Dexsport, we hope you’ve enjoyed it and that you’ll join one of our upcoming AMA with other crypto and DeFi projects!

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