As much of the community has found out, we recently launched decentralized sports betting onto Sui. This is the marking of a major milestone in consumer apps being built on Sui. The DoubleUp team thrives on delivering the most degen and fun applications found on the Sui network!

For the past 3 months, we’ve been integrating with an odds provider to bring Sui users the ability to play and cheer for their favorite teams in a permissionless manner.

From the beginning we’ve believed that users should not need to KYC or provide any other type of identification to wager online. Instead, they just need to put up the collateral. After integrating with live updates from an off-chain data feed, we are able to bring out doubleupsports.com to allow folks to bet directly with their USDC on-chain.

Our sportsbook is also going to be a vital source of yield on the $USDC pool within Unihouse. As the book gains more and more traction, folks that stake the USDC pool in Unihouse take on the alternative side of bettors from the sports book. Our implementation is one that allows for transparent balance holding on Sui where bettors deposit into a smart contract that has permissioned withdrawal only by Unihouse Protocol and the bettor themselves. If the bettor wins, our sportsbook sends a signal to Unihouse to credit the player with extra balance, and vice versa if the bettor losses.

We noticed that there is an incredible appetite for playing these books as even in the first day of launch we had over 150 bets placed on our site. We will continue to build for the consumers of Sui, and create a more robust $UP ecosystem!