The much-awaited Game of Thrones series is coming to an end and the true ruler of Westeros is still a debated topic. However, the cryptoverse made things interesting for the GoT fans as it introduced a betting game for the fans to earn the largest cryptocurrency in the world, Bitcoin [BTC].
FreeBitco.in, a Bitcoin [BTC] faucet on its platform hosted this betting game for its registered users to place a bet on their best choice of who would ultimately sit on the iron throne. Among the choices were obvious ones like Jon Snow, Daenerys Targaryen, and Cersei Lannister, but there were also other options like the Stark siblings- Bran, Arya, and Sansa, Tyrion Lannister, Gendry Baratheon, and the Night King. However, an option of ‘Unknown’ was also available for the users to choose.
At the beginning of the season 8, Jon Snow led the betting with 1.532005 BTC, however as the season progressed Jon Snow slipped to the second position, as Bran took to the lead, while ‘Unknown’ settled as the third best option. The pool value of the bet currently rests at 4.97219626 BTC, worth almost $40k. However, the pool has a time multiplier, implying reducing reward shares as time passes.
At press time, 41% of bets were placed under the name of Bran Stark AKA the Three-Eyed Raven, followed by the King in the north AKA Jon Snow with 22%. The bets for an unknown character taking the throne were around 13%, after which Sansa, Tyrion, and Daenerys accounted for 5% each.
As the Game of Thrones comes to an end and the Crypto market cheers for the rising price of BTC, even as the winner of the pool could land themselves with a handsome amount in BTC, as it has already crossed $8k.
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ErisX goes all hands on deck to launch a Bitcoin Futures market
ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market.
ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims to get a DCO [Derivatives Organization], which will effectively allow it to run a CFTC-regulated clearinghouse. A clearinghouse would mean that ErisX can take control of the custody of the assets and clear and settled trades.
The CSO explained the benefit of this, stating,
“There is some efficiency for firms like producers [like mining companies]; if they need to hedge their inventory or need liquidity on a spot market, they could do that conveniently on a single platform. “
Trudeau added that from the “post-trade standpoint” and “the collateral management standpoint,” ErisX would have cash, crypto, and the futures, all stored in their clearinghouse. This would boost efficiency since it would be available for all customers under a single platform. The CSO added,
“… so there is some efficiency in terms of managing collateral, if you don’t have assets on multiple platforms, it can all be in our clearinghouse.”
Apart from the aforementioned plans, Trudeau added that the crypto-industry needs to mature more and that ErisX plans to make a significant contribution to that. He added,
“The market is professionalizing and we think that in terms of what institutions are expecting from a trading/custody experience, we will bring some of the solutions to the market and that’s really the foundational pieces that they are looking in order to build their businesses on top of us.”
Apart from ErisX, LedgerX has also received a go-sign from the CFTC to settle Bitcoin Futures in Bitcoins. Other exchanges include Intercontinental Exchange’s Bakkt and Seed CX.
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