Insanity Bets launches $1m presale jackpot

Staking $IBET tokens can bring holders up to 90% of Insanity Bets’ revenues

Emerging crypto gambling platform Insanity Bets has just spiked up the allure surrounding its Initial Coin Offering (ICO) with an announcement that it is launching a $1m presale jackpot.

One lucky investor who takes part in Insanity Bet’s $IBET presale will have the chance to grab the prize once the presale concludes.

However, the major presale jackpot is not the only reason to invest in Insanity Bets. The native token of the project, $IBET, has a varied utility providing passive income opportunities and incentivizing users to actively participate in the Insanity Bets ecosystem by paying out yields.

The project has incorporated different reward mechanisms and token derivatives as part of its tokenomics aiming for sustainability and growth.

Insanity Bets also boasts an innovative staking mechanism. It offers staking derivatives through $sIBET and $bIBET and an index of various assets via the introduction of $ILP.

$sIBET is in practice staked $IBET and the token offers holders a 35% share of all protocol fees. These include trading fees, $ILP fees, and game-winner fees. The conversion ratio between $IBET and $sIBET is 1:1.

The project also has token burning and liquidity provision mechanisms in place. The $bIBET token is used for burns, while the $ILP is utilized to provide liquidity. Token burners get a 50% share of all fees.

At the same time, the $ILP index offers players the chance to stake $USDT, $ETH, $WBTC and $IBET, mint $ILP tokens and receive 90% of all revenue from wagers placed by Insanity Bets players.

Long-term stakers are further incentivized by multiplier points, which they can gradually acquire. Those points contribute to an increased yield potential that can go up to 100% more earnings. In addition, active stakers take advantage of lower fees for betting and depositing $ILP.

Looking ahead, the Insanity Bets platform plans to launch once all $IBET tokens allocated to the presale are sold. In terms of the project’s DEX aspirations, the $IBET token will debut on Uniswap as it is the largest exchange operating on Arbitrum.

Insanity Bets is a decentralized crypto gambling platform that utilizes Chainlink VRF and thus ensures every game on the platform is provably fair. The platform’s decentralized model means that players receive a portion of Insanity Bets revenues in contrast to traditional casinos, where the house keeps all profits.

Looking for your next crypto casino? Check out Mega Dice or FortuneJack!

Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.

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