The Celsius lawsuit is a stark reminder of the risks involved with the crypto industry. While decentralized technologies, such as Bitcoin, Aave, and Chancer, continue to perform well with few security issues, some centralized Web3 companies have caused problems for investors.
This problem has led an increasing number of investors to search for genuinely decentralized initiatives, such as those mentioned above. In particular, Chancer is becoming a leading choice for early investors, as the brand new crypto-betting platform intends to bring more excitement to the online gambling industry. The project is fast rampaging through the stage 1 raise, having already passed $875k, and with the recent addition of USDT and ETH purchase options, is set to progress even faster now that millions more investors can easily buy tokens.
Could it help drive the expansion of crypto betting in the aftermath of the Celsius lawsuit?
The Celsius lawsuit may be reaching an end, marking the start of a new era for decentralized platforms
Centralized crypto lenders had a torrid time in 2022, as a series of bankruptcies caused a cascade of liquidations, culminating in the capitulation of a top cryptocurrency exchange, FTX. One of the most high-profile bankruptcies during this time was Celsius Network, a borrowing and lending platform that promised high annual yields to depositors.
Celsius' lawsuit addressing the sudden collapse of the platform has received fresh news. Recently, the Commodity Futures Trading Commission (CFTC) found that Celsius Network’s former CEO is guilty of misleading investors and failing to register business activity with regulatory bodies in the United States.
The Celsius lawsuit is now concluding. The troubles of 2022 have highlighted a pressing need for oversight when it comes to centralized platforms, as entrusting crypto assets with a third party has proven problematic on an increasing number of occasions.
The Celsius lawsuit and shocking reality have led more investors to completely decentralized protocols. One such project, Chancer, brings complete decentralization to the online betting industry. The crypto betting platform will deliver exciting new possibilities to betting people, who comprise around 26% of the global population.
What is Chancer?
Chancer uses blockchain technology to deliver a peer-to-peer (P2P) online predictions market. The platform enables bettors to create and manage their bet slips, including the ability to create custom odds.
Since the platform is fully decentralized, bettors can freely choose whether or not to take the odds set by other users in the new crypto-betting forum.
Thanks to its unique capabilities, Chancer offers a solution to a long-standing problem in the gambling industry. Centralized bookmakers are renowned for using lopsided odds that do not reflect the actual probability of an event unfolding.
Since Chancer’s crypto betting platform gives more power back to bettors to decide the odds, it can help to counteract any possibility of odds manipulation.
Chancer will provide a fun betting experience. It unlocks new possibilities for users seeking to make small bets between friends and family. It allows customizable bet slips on any potential outcome, including the Superbowl to the Presidential Elections.
How does the CHANCER token work?
The native CHANCER token, available for $0.01 during stage 1 of the crypto presale, is used to make and settle all bets on the platform. Users will lock CHANCER tokens in escrow through smart contracts, which will automatically pay out crypto rewards to the winners of each bet.
To negate any counterparty risk between users, Chancer has introduced specific security measures. Impartial moderators will oversee all bets made between users, which ensures that no one receives unreasonable odds.
As well as this, integration with Google’s WebRTC enables live streaming real-time communication between users, allowing for fast bets during popular events like football cup finals.
Chancer’s $100,000 giveaway
Chancer is launching an exciting opportunity for community members during its presale. The platform will give away $100,000 in prizes to ten lucky winners, who can join the initiative simply by purchasing CHANCER tokens.
This initiative should be great for driving more users to the Chancer presale, which has so far got off to a strong start. The early successes of the Chancer presale are a marker of investor sentiment towards decentralized platforms, especially in the wake of the Celsius lawsuit and other significant problems with centralized companies in Web3.
Will CHANCER reach $0.50 in 2025?
The decentralized crypto-betting market has the potential to reach a significant valuation over time. Not only does Chancer offer something new to the online betting industry, but the native token also has deflationary tokenomics — a characteristic that could drive price appreciation as scarcity rises.
Market analysts expect CHANCER to become a leading Web3 project by the next crypto bull market. Fans of decentralized investments are likely to get involved, while its solutions could serve a growing number of users over the coming months and years. By 2025, CHANCER could breach $0.30 and target higher price levels above $0.50.
In the wake of the Celsius lawsuit news, is CHANCER still worth buying?
The crypto industry is complex, with nuanced differences between the sectors. From the outside, onlookers may believe that problems with one industry area impact the likelihood of the other regions succeeding — but the markets are telling a different story.
Investors continue to back decentralized products such as Chancer. The presale has raised $875k by stage 1 of the event, and it looks ready to continue its rise to the top thanks to its impressive functionality. It could be an excellent choice for an investment portfolio ahead of the next bull market.
You can take part in the CHANCER presale here.
Disclaimer: Insights provided by crypto industry players and is not a part of the editorial content of BanklessTimes.
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