We recently had an AMA with BigCoin Vietnam, on May 4th. As some of you might have not participated, we made sure no one missed out on the good stuff! We made an AMA recap of the asked questions and answers provided by Edi Sinovcic , CEO of iBetYou and Luka Sucic, the advisor of iBetYou.
Here are the best hand-picked questions and answers:
Q: Can you introduce yourself?
A (Edi Sinovcic): Hi everyone, I’m Edi Sinovcic CEO of iBetYou.
I joined the blockchain space as a developer in 2017. I first worked with the Rchain blockchain,
then moved on to work with the Ethereum Foundation. I‘’m currently building IBY.
A (Luka Sucic): Hello everyone, my name is Luka. I am one of IBY’s original advisors. I have been working with the team since day one. My background is a combination of entrepreneurship and company experience. I have been in blockchain since 2012.
We considered IBY a great idea quite a while ago and we’ve been working on it for the past 9 months.
iBetYou is a blockchain protocol that allows people to bet on anything with any amount of money.
For example, you can bet with your best friend that your favorite football club will win the next match. The both of you lock in, let‘’s say 1 ETH in our smart contract and select 1 judge each.
These 2 ETH are then pushed to different DeFi farms to generate yields (profit). If I win, I get 2 ETH and the remainder is divided between the judges and everyone who staked their tokens and IBY DAO. I also get an NFT, which proves I won the bet.
iBetYou is deployed on Polygon, and we are using AAVE to generate profits. You can use the platform right now at ibetyou.xyz. You just need some MATIC tokens.
Q: Partnerships are the best way to develop a project. I see you have a strategic partnership with Polygon and AAVE. Can you point out some of the benefits that IBY can get from them?
A (Edi Sinovcic): When we first started building IBY, we were developing on ETH and the gas fees were so high that we almost gave up.
As we researched L2 solutions, we stumbled upon Polygon, decided to see what they are about,and won their grant!
Their team is amazing. They helped us drive the product, connected us with number of people, and in general, were great supporters and associates.
The same goes for AAVE. So today if you place a bet on ibetyou.xyz, you do it with MATIC tokens and when the money is locked, we use Aave to generate interest (yield).
Q: At what stage is IBETYOU.XYZ and how to use it?
A (Luka Sucic): We are currently active and deployed on Polygon. Everyone can use it right away.
When a bet is locked, while waiting for someone to win a bet, interest is generated using maTokens. This profit split between the validators and the protocol. The winner will receive an NFT proving he has won the bet.
Q: NFT markets have been blooming recently. Does iBetYou have any initiatives in this area?
A (Edi Sinovcic): Yes, we are big fans of NFTs. Especially NFTs that have a utility besides artistic value, and they play a significant role in IBY. For example, you find that when you challenge someone to a bet, it’s not just about money, it’s about being correct.
So what happens when you win in the example — we call you “NFT winner” — that proves you won. It will have a nice description inside, but more importantly, it will have all the details about your bet. What you bet, how much you bet, who lost and what the generate yield was.
This will be a collectible item, and it will have its own value. In addition, we have several plans to expand the NFT functionality even further.
Q: How is iBetYou developing? How do you plan on retaining and attracting new users to your platform? What is your global expansion plan? What market does iBetYou focus on now? Is it focused on building and growing to gain customers, users, and partners?
A (Edi Sinovcic): We are developing and have a very elaborate strategy to grow our user base and expand our partners. There is a multi-chain strategy, so we are working in tandem to develop on many other chains.
We want to be the first “Consumer DeFi” application on many new chains and become an easy gateway for crypto. Here are the best hand-picked questions and answers.
That would be all for this AMA recap! Thank you for reading this far. Make sure to check out the “important links” section down below and stay tuned for more updates!
Important links 👇
🌎 Website: https://ibetyou.xyz
📱 Twitter: https://twitter.com/ibetyouxyz
📢 Telegram group: https://t.me/IBYXYZ
🔔 Telegram announcements: https://t.me/IBYAnnouncements
✨ Telegram marketing: https://t.me/IBYBeyound
📚 Medium: https://medium.com/@ibetyouxyz
