Cryptocurrency

Sheesha Finance and Royale Finance Partner to Leverage Premier DeFi Staking Mechanism

Published

3 years ago

April 1, 2021

Reading Time: 2 minutes

The partnership utilizes Sheesha’s Mutual Fund model allowing Royale network participants access to a variety of DeFi project rewards without direct investment

Sheesha Finance, the first one-stop-shop for investors to get diversified exposure to DeFi projects, and Royale Finance, a cross-chain DeFi solution using liquidity pools to provide funding for iGaming startups, announced a partnership leveraging the staking mechanism features of the Sheesha platform. The partnership innovates traditional DeFi blockchain staking and brings additional value to all network participants by providing portfolio diversification while minimizing risk.

With the growing popularity of DeFi projects, many investors are now looking to invest in promising, authentic DeFi startups. Sheesha Finance has created a unique model that embraces full-scale transparency and integrity, while supporting reputable DeFi ecosystems such as Royale Finance.

Sheesha Finance uses a staking mechanism called a “Liquidity Generation Event” (LGE) that encourages participants to select an available blockchain network and contribute Ethereum (ETH) or Binance Coins (BNB) in return for Liquidity Provision Tokens (LP) on the network they have chosen. The LGEs are open for a certain period of time, and in this instance, two weeks.

“Our goal has always been to improve the De-Fi ecosystem and transform its operational mechanisms,” said Saeed Hareb Al Darmaki, Founder of Sheesha Finance. “By leveraging our liquidity generating events, we are able to help De-Fi projects expand market reach, gain new investors and holders. Our newest partner, Royale Finance has been a totem for transformational changes in the iGaming niche and we are proud to work with them to further grow their network influence by utilizing our unique staking mechanism.”

“The partnership with Sheesha Finance is extremely important for us. It provides the much-needed distribution stability lacking in most DeFi ecosystems today,” said Matthew Armstrong, COO at Royale Finance. “This mutually beneficial partnership helps Sheesha expand its network partners and reach while providing Royale network participants an interesting investment avenue through Sheesha’s liquidity generation events.”

Liquidity Provision Tokens (LP) can be staked to continuously earn Royale Finance tokens ($ROYA) as well as other network tokens available under the Sheesha ecosystem. Increased participation in this program will greatly improve the overall metrics of Royale Finance, control the distribution of $ROYA in the market, curb inflation, and attract bigger investors looking to team up with valuable players in the DeFi/iGaming niche. Royale Finance will give a certain amount of their native token, $ROYA, from their liquidity mining to help support this joint staking initiative.

Sheesha Finance has conducted external audits of its platform to validate the security protocols and ensure its smart contracts are error-free; Sheesha received a 100% grading by Zokyo, a highly reputable auditing firm. Sheesha’s approach exposes its users to a wide array of interesting DeFi projects and foregoes the stress of manually searching for viable DeFi investment opportunities. By staking LP tokens with Sheesha, network participants will be able to earn Sheesha’s native tokens as well as the tokens of other existing and potential future DeFi projects on the platform.

Bitcoin

Navigating Bitcoin’s Impact: SOFTSWISS’ iGaming Industry Overview

Published

3 days ago

May 17, 2024

George Miller

navigating-bitcoin’s-impact:-softswiss’-igaming-industry-overview

Reading Time: 4 minutes

In March 2024, Bitcoin soared to a historical high, nearing 70,000 euro per coin. How does this impact the iGaming market? Being a tech company with over 15 years of experience and an innovator in crypto iGaming software development, SOFTSWISS shares anticipations in its quarterly crypto analysis.

Over 220 brands powered by the company engaged in crypto transactions during the first quarter of 2024, which is 12% higher than the previous quarter. SOFTSWISS experts analyse the data gathered from crypto-friendly brands by employing extrapolation, comparative, and correlative analysis.

iGaming Market Overview: Unveiling Anticipated Growth

The size of the global online gambling and sports betting industry is expected to rise significantly and exceed 170 billion euro by 2032, according to Statista. Based on SOFTSWISS data, the iGaming market has demonstrated a stable pattern of growth year after year.

In absolute terms in euro, the Total Bet Sum grew by 5.8% in the first quarter of the year compared to the last quarter of 2023. Analysing the year-on-year increase, comparing Q1’24 with Q1’23, the growth is more impressive, showcasing a 47.2% boost.

Simultaneously, the Total Bet Count, both fiat and crypto, displayed a slightly larger gain in the first quarter of 2024 compared to the previous quarter, surpassing 6.1%. The indicator’s year-on-year boost is much more notable, revealing a 57.2% increase.

The popularity of iGaming in recent years has been fuelled by its global reach and accessibility due to constant technological advancements. On one hand, the quality of internet connectivity continues to rise, while on the other, new payment methods are emerging, simplifying payment procedures.

The in-depth quarterly analysis, ongoing since the beginning of 2022, reveals that fiat bets are undergoing more substantial growth compared to crypto bets. In Q1’24, the Fiat Bet Sum increased by 6.9% compared to Q4’23, while the rise of Crypto Bet Sum was at 2.4%.

The more active growth of fiat bets led to a slight decrease in the share of crypto. In the first quarter of 2024, the crypto share in the Total Bets Sum settled at 24.4%, decreasing by 0.8 percentage points (p.p) compared to the last quarter of 2023.

What is the State of Crypto in iGaming?

Analysing crypto bets, it is crucial to highlight that almost 93% of them are facilitated through the in-game currency conversion tool, which is gaining traction. This mechanism allows operators to engage players with cryptocurrency assets in games initially tailored for fiat only. Operators that adopt such options are gaining more competitive advantages in the market.

While the Q1’2024 Crypto Bet Sum shows a moderate 2.4% growth compared to the previous quarter, the year-on-year analysis demonstrates a 20.8% increase. The Crypto Bet Count remained unchanged in Q1’24 compared to the previous quarter’s indicator. Simultaneously, the metric increased by 21.3% year-on-year. The figures speak volumes, showcasing a consistent interest among players in crypto gaming.

“The lack of a substantial increase in the number of crypto bets during Q1’24 can be partly attributed to the significant rise of the Bitcoin exchange rate during this period, leading players to be more cautious with their crypto bets. This trend mirrors the situation in the first quarter of the previous year when the Bitcoin exchange rate surged following a decline at the end of 2022,” comments Vitali Matsukevich, Chief Operating Officer at SOFTSWISS.

What Distinguishes the Average Crypto Bet?

The average crypto bet increased to 1.71 euro in the first quarter of the year from 1.66 euro in the last quarter of 2023. This growth correlates with a significant strengthening of the Bitcoin rate during the first quarter of 2024.

The average fiat bet remained steady at around 0.81 euro in Q1’24 and Q4’23. The average total bet stayed constant since the second half of the previous year and is equal to 0.93 euro.

Notably, the average crypto bet is double that of fiat. This indicates that digital currencies are preferred by higher-income players.

Why Did Bitcoin’s Share Drop?

The Top Five most operated digital coins in iGaming have remained stable during the last two years with minor changes in ranking order. The top still includes Bitcoin, Ethereum, Litecoin, Dogecoin, and Tether.

In Q1 2024, Bitcoin experienced a significant decline of 9.4 p.p. compared to Q4 2023. This could be attributed to the bolstering Bitcoin exchange rate and players exercising a more cautious approach towards it.

In contrast, the shares of other digital coins have increased. Ethereum and Litecoin showed growth of 4.0 p.p. and 3.8 p.p., respectively, during the same period. Simultaneously, Dogecoin rose to fourth place in the ranking, leaving Tether behind.

Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, summarises: “The benefits of employing digital currencies, such as fast transactions and anonymity, still attract many players. Embracing cryptocurrencies in iGaming can boost operator profits despite their volatile nature.

As the Bitcoin rate is expected to strengthen after the Bitcoin Halving, the average crypto bet and projected gains may see a notable impact. During such promising times, it is crucial to have reliable and experienced partners to navigate the path to success.”

About SOFTSWISS

SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland, and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform, and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

The post Navigating Bitcoin’s Impact: SOFTSWISS’ iGaming Industry Overview appeared first on European Gaming Industry News.

Cryptocurrency

TG.Casino Signs Partnership with AC Milan

Published

2 weeks ago

May 9, 2024

Niji Narayan

tg.casino-signs-partnership-with-ac-milan

Reading Time: < 1 minute

AC Milan and TG.Casino announced a new partnership, which sees the crypto casino platform become the Official Regional iGaming Partner of the Rossoneri in Europe.

This new collaboration between two frontrunners in their own fields offers a great opportunity to create something new and innovative. This partnership demonstrates the platform’s intent to take on and beat the iGaming competition to become the ultimate destination for all ambitious players. The deal catapults TG.Casino into the top ranks of GameFi by bringing the brand into the living rooms and onto the mobiles of tens of millions of consumers all over Europe.

Through this new partnership, $TGC token holders will have the chance to win lots of experiences offered by the Rossoneri club. From visits to the Milanello training centre to winning official AC Milan jerseys and VIP access at the San Siro stadium, football fans will have the chance to enjoy unique and exclusive experiences.

The new partnership provides AC Milan with a new fan engagement tool, creating bespoke experiences, which aim to give them more access, and bring them even closer to their beloved Club.

The post TG.Casino Signs Partnership with AC Milan appeared first on European Gaming Industry News.

Cryptocurrency

Hub88 strikes exclusive partnership with crypto giant Stake.com

Published

2 weeks ago

May 8, 2024

George Miller

hub88-strikes-exclusive-partnership-with-crypto-giant-stake.com

Reading Time: 2 minutes

Hub88 has entered into a partnership with Stake, which will see it become the exclusive aggregation partner to the trailblazing crypto behemoth.

Through the alliance, Stake will integrate the entire content portfolio of Hub88 and provide its players with games from 120+ of the industry’s most sought-after studios.

As well as hit slot titles, Stake will benefit from live dealer and other iGaming content available via Hub88’s premium platform offering, as well as value-added propositions such as HubWallet Banking, Crypto Payments, and chat services which is part of the provider’s ecosystem.

Stake is a community-based betting platform that was established in 2017 and quickly became the world’s biggest cryptocurrency sportsbook and casino. The operator also has a substantial sweepstake casino offering, providing free-to-play casino experiences to users.

The exclusive deal is an extension of an already successful partnership between the two brands and will help both companies significantly propel their ambitious commercial growth goals.

Mark Taffler, Commercial Director of Hub88, said: “We’re delighted to take our relationship with Stake to the next level. Fundamentally, we come from the same place as crypto is at the heart of what we both do.

“We will now be able to work even more closely with Stake. and help them boost their business by providing our best-in-class tech offering, content supply and account management while further adding value by delivering our business-enabling propositions such as Banking, Crypto Payments, and our HubWallet solution.”

Eddie Craven, Owner of Stake, said: “We’ve grown to trust Hub88 implicitly and their transparency and approach to business makes us secure that we are provided with the best content offering with a superior tech stack and back-end support.

“Hub88 is genuinely an extension of our own business and as a trusted and well-established partner, we’re super excited to take this to the next level.”

The post Hub88 strikes exclusive partnership with crypto giant Stake.com appeared first on European Gaming Industry News.