Following a short break for the holidays, the EarnBet team is refreshed and ready to continue driving lots of exciting updates. To whet your appetite in anticipation of those developments, we’re excited to announce that the proposed BET token buyback has now started.
Let’s get into what this all means…
An involved community that participates in the direction of the casino has always been the vision for EarnBet and we were excited to launch the first community poll in October 2020 for BET holders, which introduced some positive token structure changes including a token buyback with a portion of the casino’s profit. All profits from tokens other than BTC and ETH will go to buying back BET.
Buying back BET with 100% of the altcoin profits means an increase in buy pressure, which we expect to translate into an increase in casino volume. A healthy boost in value will give the BET token an equally healthy boost in awareness among the ticker watchers, which is super important as we go horns forward into this bull run together.
We began buying back BET tokens over the past 2 weeks, which we will continue to do periodically (but randomly! And without announcement). Most of the transactions took place on Uniswap.
As of the date of this article, 1,577,517 BET (~$103,000) have been bought back with 106.182 ETH of buyback funds.
Through this buyback, 1.792% of the total BET supply (and 11.9% of the unstaked supply) has been bought back from the first round of BET buyback!
More BET token stats can be monitored at EarnBet.io/BET.
EarnBet and BET Gaming Network are Growing
Despite global upheaval and uncertain times, 2020 proved to be a year of progress for EarnBet thanks to a passionate team and a dedicated community. However, that is now a platform for much better things and 2021 promises to be even bigger as we expand EarnBet and the BET Gaming Network. Read more in our 2020 Year in Review!
$22k Giveaway to Get 2021 Rolling
If all of that hasn’t caught your attention, we’re giving EarnBet players the chance to share a portion of a $22,000 pot over the next seven weeks, with a different crypto up for grabs every seven days. All you have to do is play. Wagering $1 gets you points and increases your leaderboard position.
Players that climb the star-studded top 50 leaderboard will see their prizes grow with every level achieved – and this time around you can claim a stake in $2000 of EOS. To get full details on the promotion, take a look at our dedicated $22k Giveaway blog post.