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A Note on Community Involvement

EarnBet Community Involvement

Dear EarnBet Community,

A lot has happened since we launched as EOSBet in August 2018. We’ve continued growing in a multitude of ways: our technology, our brand, our team, our community.

By most measures, a 2.5 year-old company like ours is still considered an early-stage startup. However, 2.5 years in the rapidly-evolving crypto space can seem like a lifetime. Throughout this exciting period, we’ve continued to evolve and adapt to the changing environment around us.

During this time, we believe we’ve built a solid foundation for the growth of the company and for BET. Our ultimate goal is to oversee a strong network of innovative crypto iGaming platforms and products, with value flowing directly to BET token holders. The multi-billion dollar casino industry remains ripe for disruption, and we plan for BET to be at the very center of this.

Our community has stuck by our side during this time and played a critical role in our growth. By community, we mean players, partners, admins, BET token holders, and anyone who has contributed positively to the project. Our community is the collective body of stakeholders who have contributed energy, time, thought, or resources to EarnBet; people who have helped make the project what it is today.

For this article, we want to specifically lay out where and how we see the community participating in our decision making processes.

Community Involvement

The community plays an important role in providing valuable input and feedback in regards to the development and vision of EarnBet. Although not every decision requires community discussion, it is often useful input. In general, we see three main facets for gaining community input:

  1. Discussions and dialogues (primarily in Telegram)
  2. Community Surveys / Polls
  3. BET token holder votes

Sometimes a discussion in Telegram is enough to provide a pulse-check on the decision at hand. This usually only gets very active members to contribute their thoughts, since many players and investors do not actively chat. We do our best to coordinate these conversations across different languages (particularly Chinese and Korean), but it’s sometimes difficult.

An official BET token vote is the most formal (and time-intensive) means of involving the community. This allows BET token holders to use their stake points to execute their influence via a light form of governance. Implementing an effective and efficient voting system is still work in progress.

We are proud to have held our first community vote last year. One learning from this vote was to make sure we separate different decisions into multiple votes, or perhaps send a proposal through a more informal system before becoming finalized.

We hope to continue involving the community, while also moving quick and staying agile; a characteristic that helps differentiate ourselves from larger, sluggish casino platforms. Sometimes we just have to take a leap of faith and go with our gut. If we didn’t occasionally do this we might still be on a dying EOS mainnet with only one currency to play with. With that being said, we have also made mistakes with this approach in the past and probably will again in the future. The key is to learn from these moments and grow. Whenever the team makes a decision without going through the community input gathering process we will do our best to communicate it quickly to the community.

In general you can expect community involvement to be less (formal) during our short term goal where we are building towards a solid foundation. Expect this to increase more and more as we approach our mid and long term goals.

It’s almost never possible to please every stakeholder in a group, but we want to make sure everyone feels heard. We gather information from a variety of places before making any decisions, and of course have a lot of internal knowledge and team insights that the community may not (and conversely, the community has perspectives that we do not).

We are committed to involving the community where we can and when we can. However, this doesn’t mean everything will be announced upfront or that we can always provide specific timelines or plans that aren’t yet public knowledge, but we will always be honest in what we say, when we say it.

Thank you to everyone who has continued to stick with us through the thick and thin, good days and bad. We will continue working hard and growing into the company that we strive to be. 2021 should be the best one yet for BET token holders.

The EarnBet team


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