The platform aims to address the disadvantages of traditional centralised betting platforms including their high costs, lack of security and lack of transparency.
Users can access different services through Bet2Bank's three-tier system by holding a certain number of BXB tokens.
With betting-as-a-service (BaaS), Bet2Bank offers its customers the ability to place low-risk sports bets automatically based on predetermined criteria and gathered data; using a bespoke TG bot that is linked to a smart contract that works with another bot.
Users can deposit USDC, issue a command to the bot and receive their USDC back along with any gains.
Using the P2P Custom Betting function, users can create customised trades and actively compete with other players. Money is kept in escrow until the event's outcome is known.
Additionally, BXB, a Web3 project, is built on the ERC-20 blockchain that aims to maximise the potential that DeFi and Web3 have to offer the world of finance.
Users must have a minimum number of BXB tokens to use the platform's three tiers of functions, which are all part of the BXB/USDC ecosystem.
SirTris, a developer working in the ERC-20 space, created the BXB smart contract for this project. With this, the max wallet cannot be set to 0, taxes can never be increased above 7% and the contract cannot be altered in any way to commit any scam.