Tokenising the Champions League
Buy your team’s tokens and see if you win big!
A new Waves Community initiative, Ligatokens, allows you to take a punt on your favourite team and maybe win some serious prize money!
Like football (or ‘soccer’, if you must)? Like crypto? Enjoy trading, or can handle the idea of hodling to win big money? Then Ligatokens is for you.
How it works
The idea is simple. You buy tokens representing your favourite team from the Waves DEX. There are 32 tokens, one for each team in the UEFA Champions League. Because these are crypto tokens, you can trade them whenever you want — so if your assessment of your team’s chances changes, you can sell them or buy more.
At the beginning, tokens are sold at fixed prices, with 96% of the funds collected going to the prize pool. You can trade tokens you already hold on the secondary market, at whatever price you’re offered.
At the end of the tournament, the prize funds are distributed among the winning token holders — so if you pick an outsider and they win, you’ll do well. Winnings will be airdropped as soon as the final game of the tournament ends.
Like the altcoin market for sport
The Ligatokens initiative comes from the same team who tokenised the World Cup, and works on the same principle. If you’re a trader, then you’ll love this idea for two reasons. Firstly, all those WAVES are going to be locked for eight months, until the end of the tournament, so if you win you’ll get the benefit of any price appreciation in that time (and eight months is a LONG time in crypto). Secondly, you’re backing a sports team just like you’d back an altcoin, because each token’s value relates to its team’s chances if winning at any time. Pretty cool, right?
Buy your team’s tokens
To choose your team and buy tokens, go to Ligatokens.io, select your team and click Buy on DEX. Alternatively, you can copy the token’s id and open DEX in your local Waves client. After that, you can sell your token on DEX at any time, or hold onto it in the hope of winning big at the end!
The pre-sale took place up to 18 September, with tokens available at a discount. Right now they’re only trading on the open market, so there’s no telling how much they’ll cost. On the site you can see how many tokens have been sold for each team, and how much you’ll multiply your stake by if they win — though these numbers will change all the time until people have finished buying tokens.
The prize pool is currently over 1,100 WAVES (almost $2,500) and rising. To find out more visit https://ligatokens.io. You can also learn more and join the discussion on reddit.
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