How to Buy InsanityBets – IBET Presale Review

With the crypto gambling ecosystem’s current market size of $250 million, there is still a lot of room for growth. For that reason, decentralized casinos have emerged, giving investors a chance to grow their wealth not just by playing but by contributing to the casino ecosystem’s growth. InsanityBets is the latest casino presale to arrive, giving investors this opportunity.

Calling itself the “pinnacle of decentralized casino gaming,” InsanityBets’s unique prospects lie in its introduction of “CasinoFi.” This guide will cover how to buy InsanityBets tokens and why they are a good investment.

Buy IBET

What is InsanityBets?

InsanityBets is a unique CasinoFi ecosystem that allows users to play games and become the house, earning real yield. The entire ecosystem has been designed so that 85% of the platform’s earnings go back to the community.

The platform has devised a staking model that is common with most utility-focused projects. However, this is the first time an iGaming platform in the blockchain space has implemented it so eloquently.

Access to yields is possible due to the IBET token, the ecosystem’s native asset. Users can buy it. Afterward, they can stake it to earn yields in terms of trading fees, ILP fees, or game-winner fees. These make up 35% of the total amount that the community can extract from the ecosystem.

The remaining 50% of rewards come from token-burning mechanics, which introduce a deflationary aspect to this token and allow it to grow even further.

The platform delivers games with the added element of fair play. These games are unique and focus on simplicity.

For instance, Blastoff is a game akin to Crash featuring a rocket going to Mars. The subtle lore involve players acting as Elon Musk trying to go to the Red Planet.

Similarly, Coin Flip is a simple game verified using Chainlink VRF, which lets players bet on a coin flip. Other nostalgic titles associated with this game include Rock Paper Scissors, Plinko, and Slots.

In addition to providing a venue for players to engage with a P2E ecosystem, InsanityBets is developing a suite of tools to help developers.

They can leverage the platform’s “plug-and-play” to create their own front-end games powered by InsanityBets’s CasinoFi contracts. This further adds to the element of decentralization.

What is IBET?

IBET is the native token of the InsanityBets’ ecosystem. Designed as a vehicle for players to interact with InsanityBets’s CasinoFI, IBET tokens have several use cases.

The platform states that the utility is “unchartered”, backed by the different ways IBET will interact with the ecosystem.

Three types of IBET tokens will be present. Standard ones staked IBET tokens ($sIBET), escrowed IBET tokens ($esIBET), and burned $IBET tokens ($bIBET).

These variants that IBET tokens present will be used to generate yields, store value, and impart deflationary aspects to the InsanityBets, turning it into a future-friendly casino platform.

A Look into the Variants of IBET Tokens

Staked IBET

Staked IBET tokens will be used to motivate participation and simplify entry into the ecosystem. The process of staking and unstaking is seamless and can be done at any time.

Staked IBET tokens will give users access to real yields generated from ILP. Furthermore, the distribution of $stIBET will stabilize the yields to ensure that community-voted Annual Percentage Returns (APRs) are met. Staking will also reduce fees for stakers.

Burned IBET

Burned IBET or $bIBET is here to limit the supply of IBET tokens. This is where 50% of the 85% real yield rewards InsanityBets is offering come from. Burning tokens will also give burners exclusive rewards, including the highest fee percentage among all $IBET derivatives.

$ILP

The official whitepaper describes ILP as an index of the current pools, which consists of USDT, ETH, WBTC, and IBET.

In order to mint ILP, users must deposit one of these assets, which InsanityBets will use as a house fund for winnings and losses. $ILP will be quickly staked after being minted. It can also be burned and redeemed for real value.

Such aspects make IBET a future cryptocurrency. A critical analysis of this token led us to examine its tokenomics, which, although it has some centralized elements, will give the ecosystem a solid direction for growth.

A look at InsanityBets Tokenomics

There are 5 billion IBET tokens in total. InsanityBets’s tokenomics isn’t completely decentralized, which means the entire supply of tokens isn’t dedicated to the community. However, with a portion of the assets with the team, it can potentially get more backing from VCs in the future, allowing it to follow the intended path of its growth. That said, the majority of the tokens are distributed to the community.

50% to the Presale

50% of the total supply, which means 2.5 billion IBET tokens, is distributed to the community. This will ensure that the project has the initial funding necessary to direct its development. Furthermore, many of these assets will be reflected back to the investors via staking.

30% to the Team

In a bid to ensure that there are hassles or roadblocks on the way to fully develop InsanityBets, developers have dedicated 30% of the total supply to the team (InsanityLabs), which is 1.5 billion tokens. This will add an element of homogeneity to the project, ensuring that it grows.

The team will have a cliff of 80 weeks, which is locked via a smart contract. Once the 80-week cliff ends, the tokens will be vested. This ensures that there are no malicious sell-offs of the tokens at a crucial point.

10% to $esIBET

10% of the total supply, which is 500 million tokens, is directed toward the escrowed IBET. These are the staking rewards escrowed tokens. Per the official whitepaper of the project, they are released to enhance the yield to a target percentage. These will be used if the real yield that the ecosystem is supposed to generate doesn’t meet the target percentage.

These will be given to $IBET holders of $ILP stakers.

5% for Exchange Listing 

5% of the total supply will be allocated to exchange listing. Both DEX and CEX are included in this. Once the listing leads to more liquidity for the tokens, the developers will lock the remaining tokens for two years. After the timelock is over, the community vote will decide for how long to re-lock the liquidity.

5% for the Airdrop

5% of the total supply will be dedicated to the airdrop to evolve this project further and bring more users on board.

The airdrop will be completely random, which is a decision devs have made to prevent any Sybil attacks.

How to Buy InsanityBets Tokens – Complete Guide

Here are the complete steps to buy InsanityBets tokens

Step 1 – Go to the Official Website

The first step is to venture into the official website. The website has been designed aesthetically to give you a clear insight into what it is about. Scroll through the pages to get a glimpse at its offerings. Also, make sure to read the whitepaper to dive deeper into this project.

Note: Use only the affiliate link to navigate to the website. Now that the crypto market is bullish, many copycats have emerged to take advantage of the situation.

Step 2 – Connect your Wallet

Click on the Buy button at the top of the screen. This will take you to a page similar to a dashboard, which you’ll need to use to connect your wallet. But first, choose the crypto you want to swap for IBET tokens. The minimum buying limit is 50 USDT.

The tokens available to you range from USDT, LTC, and DAI to ERC, BTC, ARB, LINK, ADA, MATIC, and others. Proceed to connect your wallet once you have at least $50 worth of any of these mentioned assets. If you don’t, we recommend going to Binance and buying these tokens.

Step 3 – Buy IBET

With your wallet connected, you can now buy the tokens. Enter the number of IBET tokens you want to buy, and then make the swap. The tokens will be allocated to you. Once the presale concludes, you will get access to these tokens.

Buy IBET

What Makes InsanityBets Unique From Other Assets?

InsanityBets has taken a more confident approach to introduce a decentralized CasinoFi ecosystem. Most Bitcoin casinos on the market are limited to providing simple staking rewards to those who invest in them. However, with InsanityBets, the reward model and the community involvement are a lot more nuanced. Here are some of the factors that make InsanityBets unique:

Community Involvement 

The first factor that makes InsanityBets a different type of token in the market is community involvement. Multiple DAO cryptos have existed in the past, but their implementation has been too technical. By providing a familiar ecosystem and giving users a more comprehensive insight into what they can contribute, InsanityBets is a DAO crypto that tends towards the inclusive side of the spectrum.

Tiered Staking Rewards

Traditional staking perks consist of giving users more APY based on the number of tokens they stake. While there is nothing wrong with it, this aspect is also limiting. InsanityBets goes beyond that. In addition to offering APY depending on the number of tokens staked and the duration of holding, InsanityBets offers additional perks.

These include reduced winning fees, early access to new games, and high priority for matchmaking in PVP games.

There are five tiers to this structure.

1. Fish: It is for those who stake 1 million IBET tokens. They get access to discounted dolphin fees and winning fees.
2. Dolphin: Those who stake 5 million IBET tokens will get reduced dolphin fees, a discount on winning fees, and early access to games.
3. Shark: Shark investors are those who stake 7.5 million tokens. They will have their shark fees and winning fees further reduced, get early access to games, and have the third-highest priority for matching PVP games.
4. Whale: IBET whales will receive more discounts on killer whale fees and winning fees. Additionally, they will be given the second highest priority for matching PVP games.
5. Humpback: These are whales among whales. Staking 20 million IBET tokens will give users this utility. They will get a discount on fees, early access to games, and the highest priority for matching PVP games.

Derivatives of Tokens 

InsanityBets is one of the few decentralized casinos that has created derivatives of its core asset. Dividing IBET into esIBET, bIBET, and ILP has enhanced the token’s utility, making it more worthy of investors.

Simplified Games

The games provided by InsanityBets are simplified. While it does have traditional offerings like Slots, the main focus is on titles like Rock, Paper, Scissors, Coin Flip, Blast Off, and more.

Is InsanityBets a Good Investment?

After critically analyzing the project, we have concluded that InsanityBets is a good investment. Here are the reasons.

Bullish Market

A crypto project’s success or failure also hinges on the current ecosystem. At the time of writing, the market is bullish. Bitcoin is up. And even though halving is coming, many experts like TodayTrader have stated that BTC will excel post halving, which is another way of saying that other tokens will perform positively because of that.

Multiple Ways of Earning 

InsanityBets has been designed to help investors earn through staking and playing games. By providing additional perks to stakers, such as discounts, InsanityBets motivates more participation in its ecosystem. This approach will bring more people into the casino, allowing the $IBET price to grow.

Long-Term Upsides

Many of the major tokens that have experienced an uptrend as of late are meme coins. Although these short-term assets have reveled in short-term, albeit parabolic, gains to users, most of them have dropped significantly in value later.

InsanityBets, on the other hand, gives users access to long-term upsides. It may not experience a parabolic increase once it lands on leading cryptocurrency exchanges, but with time, the culmination of staking rewards, games, and token burning may pay off, giving users access to steady gains.

Accessible Roadmap 

The promises that InsanityBets has made to its investors aren’t that big. The roadmap it has established is steeped in community involvement and the implementation of feasible blockchain technology. Everything from community-led initiatives to developer support can potentially make its initial vision come true, allowing it to grow.

Multiple Audits

InsanityBets has gone through audits from two bodies: SolidProod and CyberScope. This enhances the project’s trust factor. allowing it to appease more risk-averse investors.

InsanityBets Socials

InsanityBets has established a good presence on social media within days of going active. It is currently active on Twitter and Telegram. However, because it seeks to always be there for interested parties, it has also provided an email as well as an active presence on social media. Here are the links to those pages.

1. Twitter
2. Telegram
3. Medium

The Verdict 

InsanityBets is a project that started to turn heads as soon as it arrived. With over 70% of the second stage of its presale cleared already, it is moving forward with its initial offering with a grace not common in the crypto space. Its utility-focused appeal is complemented by the game it offers. The addition of a tiered staking reward model has the potential to bring institutional investors to the ecosystem.

Therefore, those who want to participate in this project can go to insanitybets.com.

Buy IBET

FAQs

Related: 

• How to Buy Cryptocurrency Safely this year