Summary
Currently, the Azuro protocol is functioning as a working prototype (Testnet). It is required to launch the Mainnet v1.0 by deploying a smart contract for the Azuro protocol to start fully functioning.
The rights on the protocol will be transferred to the Azuro DAO from Azuro ltd which was the initial developer of the protocol
Abstract
Azuro is a decentralized autonomous organization focused on democratization and innovation in betting. Azuro utilizes smart contracts to build a decentralized betting protocol, which brings full transparency to the betting process and delivers a classic experience with plentiful markets, ample liquidity, and innovations like collectible bets and gamification via NFTs. It also democratizes the business of betting by breaking down the role of the bookmaker into several more minor roles, openly available for anyone to benefit from liquidity provision, front-end management, data provision via oracles, odds management, and decentralized (DAO) governance.
The Azuro Protocol Mainnet v1.0 will be launched on the Gnosis (ex. xDai) chain which is a sidechain of the Ethereum Network Blockchain. The Gnosis chain’s main advantages are significantly low gas fees (can be as low as 0,001$ per transaction) and fast transactions (5 seconds) compared to the Ethereum network’s high gas fees.
Unlike the Testnet Rinkeby USDT, which could be claimed by users with free RInkeby ETH after the launch of the Azuro Protocol Mainnet v1.0, they will be replaced with the stable coin on the Gnosis chain. It will be one of the following: USDT/USDC/xDai.
Taking into account the required time and steps for the final preparation, The Azuro Protocol Mainnet v1.0 should be launched no later than June 30th, 2022.