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Can WINR Protocol’s Pioneering Role In GambleFi Send Its Token Price To The Moon?

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WINR Protocol GambleFi growth
WINR Protocol token will rise in 2024

YEREVAN (CoinChapter.com) — The WINR Protocol continues to emerge as a significant player in decentralized gambling platforms, aka GambleFi sector. It offers relevant infrastructure and technical solutions to bring the betting market to Web3.

With GameFi gaining popularity, the protocol offers investment opportunities to those who believe in the sector’s future. 

What is the WINR Protocol?

Launched in March 2023 on Arbitrum (ARB), the WINR Protocol offers the necessary software development kit (SDK) for people to build and launch their games on top. 

Since the protocol is decentralized, a dedicated WINR Decentralized Autonomous Organization (DAO) oversees its activities. Meanwhile, the WINR crypto token serves as the base gas token in the WINR Chain ecosystem. Being a deflationary token by design, a part of its 1 billion total supply gets burned after transactions. 

The WINR token is also used as a Governance token, allowing holders to take part in the decision-making process of the protocol by voting for proposals. 

Developers can offer to launch their games on the platform. When approved, their gambling games get integrated into WINR Protocol. In return, they also earn commissions from user activity. 

At the time of writing, the WINR token exchanges hands at $0.083. In less than 3 weeks, the token has jumped over 90% after closing October at around $0.043. 

 WINR Protocols Pioneering Role in decentralized gambling platforms, aka GambleFi, sector can send WINR Token price soaring
WINR Token Price performance since launch. Credit: CoinMarketCap

Currently, WINR is up 110% since its launch. Moreover, it remains just 30% below its all-time high of $0.1207 on March 21. 

After its initial success in March, it tanked in subsequent months, reaching a historic low of $0.01222 on July 20. However, it has since surged over 600% from this point. 

Besides its unique approach to providing infrastructure for on-chain games, the WINR Protocol also focuses on being an autonomous liquidity provider. 

It does this through the WLP ERC20 token, which represents the underlying assets in the WINR Liquidity Pool. It is a liquid token with a value of USD. 

According to DeFi Llama, the current Total Value Locked (TVL) on WINR Protocol stands at $3.5 million.

Successful GambleFi projects launched on the protocol

According to a recent report by David Zimmerman, WINR Protocol has generated over $1.1 million in revenue with a profit of $300k in six months. This makes it a key player in the DeFi space.

By its design, WINR Protocol can host games and platforms. These include Casinos, sports betting platforms, on-chain games, dice and card games, rewarding mechanisms, etc.  

JustBet and DegensBet are two successful projects launched on WINR. 

JustBet offers unlimited withdrawals and no KYC, operating entirely on-chain. Its instant bet settlement has made it popular among regular gamers. Currently, there are 18 active betting games on the platform. Moreover, the platform also serves as a platform for users to trade in crypto futures. 

JustBet, launched on WINR Protocol, offers several decentralized gambling games
The different games currently offered on the JustBet platform.

DegensBet, on the other hand, offers high leverage (1000X) trading of Bitcoin (BTC) and Ethereum (ETH).

As decentralized finance (DeFi) continues to grow, platforms like WINR will reap the benefits of the growing adoption of web3 games. 

The protocol’s native token is yet to find mass adoption. Its 24-hour trading volume is a meager $736,000. However, despite this, it remains a significant asset within the crypto ecosystem, underpinning the protocol’s operations and future growth. As GambleFi becomes popular, the WINR Token price can have huge potential for growth.

The post Can WINR Protocol’s Pioneering Role In GambleFi Send Its Token Price To The Moon? appeared first on CoinChapter.

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