With the migration of DefiSports upon us, there have been a lot of changes to look forward to. New ideas were put into work, new faces & partnerships emerged, the long-term plans were tweaked, the number of utilities increased, the team also improved, gained experience and knowledge over time, and more. Therefore, it is important to distinguish the differences between DSC 1.0 and DSC 2.0 since it’s not only the migration that is taking place, factors surrounding the project have also evolved for the better.
First of all, let’s begin by reviewing the BNB Chain (formerly known as the Binance Smart Chain) so that we may have a holistic understanding of the migration process. It was launched in 2020, being the predecessor of the Binance Chain. Not to mention, it is a hard-fork of Geth (Go Ethereum) with certain adjustments made to fit CZ’s vision. It uses a Proof of Staked Authority system. Their medium of token as you may have guessed, is BNB (Build And Build). It is popular amongst people looking to invest in the crypto market short term. The gas fees for transactions are relatively low compared to transactions on other Blockchains which makes it quite attractive for those starting.
On the other hand, we have Ethereum’s Blockchain which is decentralized and open-sourced. Co-founded by Vitalik Buterin, Gavin Wood, Joseph Lubin, Charles Hoskinson, and Anthony Do Lorio. Utilizes the functionality of smart contracts which establishes a peer-to-peer network that executes and verifies application code. Its main mode of transfer to be used as gas for transactions is Ether. Currently, it employs the method of Proof of Work. However, it’s intended to switch to using the Proof of Stake mechanism due to several benefits such as energy conservation as well as lower gas fees. Generally speaking, investors with more capital and/or experience tend to use this Blockchain as it is reputable. Also, the gas fees are relatively expensive. Not to mention, the projects on this Blockchain are generally speaking, less likely to be rugged by the owners due to their nature. Also, the scalability on Ethereum’s Blockchain is high which falls in line with the capability of DefiSports.
In conclusion, after weighing out the pros and cons of each of the networks, it was apparent that we needed to migrate to Ethereum’s Blockchain. While also existing on multi-chain to increase our exposure and accessibility.
In DSC 1.0, the utilities being worked towards were ambitious and lucrative. All of these were being thoroughly tested not just by team members but also by many community members and investors of DSC. To ensure that the utilities were without bugs and of top-notch quality. Nothing is worse than launching a product and finding out that it’s faulty. The utilities in question were the NFT marketplace, the staking platform, and the gaming room. The staking platform allowed investors/DSC holders to stake their coins for a minimum of 1 month and as time would go on, the multiplier would take effect as well. So the longer someone stakes their coins, the more returns they’ll be able to generate. Which begs the question, how does the staking platform generate the APY to begin with?
Simply put, there are two methods. The first one is the NFT marketplace. The NFTs in question are those that are based on our very own athletes who bring these intrinsic values. Just as the 1909–11 t206 Honus Wagner baseball card has due to exclusiveness and popularity. Part of the revenue generated from the sales of the NFTs will be diverted to the staked coins. The staking platform was also intended to be generating APY through the gaming room. The gaming room ought to feature several interactive games that will have the player at the edge of their seats. However, to be able to play, a certain amount of DSC tokens would be required and through that, revenue will be generated. Part of which, will be funneled into the profits of the individuals that staked their coins.
Whereas in DSC 2.0, there has been a lot of discussion as to how far we can take our utilities as you may have read from the previous article about how advantageous and central utilities are to a project’s long-term success and stability. Besides the significant upgrade in the UI (user interface) and UX (user experience) in the NFT marketplace and gaming room, many changes have taken place. To begin with, as a team looking into what’s lacking in the NFT space as well as our NFT marketplace, we’ve decided to expand its horizons by not just making a sophisticated market aggregator for NFTs but all things valuable. Such as the well-known vintage Nintendo Gameboy or any other console or artifact that may appreciate in value due to its rarity. A lot of other marketplaces only focus on selling their NFTs which makes them no different than others nor helps generate the push required to build momentum. Not to mention, our NFT marketplace will also be audited for the safety and security of all buyers and sellers using its services. It also gives confidence to new investors looking in, when deciding whether or not to participate in a new platform. The gaming room has also been upgraded. Namely, its coin distribution system, statistics, and more. Minor adjustments but all for the better.
There are also other utilities that are in the works but cannot be mentioned in this article as they aren’t publicly disclosed yet. However, in due time they’ll also be public information and an article will be released accordingly. As to what their features are, what are the pros and cons, when they’ll be released, and any other relevant information regarding them.
Back in 2021, most startup projects were using telegram as their main channel of communication. It was a simple app that allowed broadcasting messages to hundreds if not thousands easily. While also allowing the team or developer to come and speak to all the interested parties and stakeholders. Through text, voice chats, and even video chats. Besides, telegram they’d have several socials (Twitter, Instagram, Facebook) and an email address to be reached out to. However, there was a persisting issue that was significantly damaging not just the potential of a project but also its reputation. Anyone could just create a telegram group and give it the name of any project that they wish to imitate. They first start by adding bots to their group until there are more group members than the original. Then they mute the chat and pretend it’s time for the presale/launch/any other event to collect funds. Unbeknownst to a lot of newcomers, they invest with them and get scammed.
Taking this into account, we decided it’s vital we find a solution or an alternative. Looking around in the crypto space, we took notice that a lot of new and upcoming projects were opting for discord as an alternative. Not to mention, serious projects with utilities also tend to be on discord. Discord is a VoIP and instant messaging social platform. It allows us to customize the way we want to interact with our community and has far more features then telegram every had. Not to mention, a very sophisticated dashboard. Even the audio & video quality is much higher. It was no brainer to make the switch.
We’ve also acquired many new athletes/talent. Each with their own unique styles and abilities in their respective sports since DSC 1.0. Many of you will be surprised to find out who they are! But at the time of writing this article, not much can be revealed about these mystery athletes.
The whitepaper has also been revamped. It includes a lot more details than the last one as it goes in-depth about every aspect of the project. Not to mention, all the changes in the goals and vision too. Moreover, the tokenomics have also been improvised in order to strategically distribute it for maximizing the benefit to the ecosystem.
Thank you for reading!