SportX is a smart contract protocol and set of web applications on the Ethereum and Matic blockchains that facilitates the creation, trading, and settlement of crypto-based sports betting and political prediction markets.
Sports betting is a $3 trillion a year business that is rapidly growing. Yet, it's an industry that systematically exploits its own users. SportX uses the power of decentralized finance and community ownership to give bettors a transparent betting platform that is owned, operated, and governed by them.
The SportX beta was launched in March 2019 by a passionate founding team of sports bettors with deep expertise in technology, trading, and security.
SportX is committed to community ownership. SportX will pursue a strategy of progressive decentralization in which the founding team will aggressively divest its control of the platform to the community. This includes the elimination of admin keys, relinquishing operational control over the protocol, and distributing ownership of the platform and its finances to the community.
Governance is crucial to SportX. Governance deals with the selection and adjustment of protocol parameters that determine the platform's creation, trading, and settlement dynamics. The SportX founding team currently hosts the user interface and runs certain background processes to keep the platform operating smoothly. These controls will be decentralized (see roadmap) to ensure the project's long-term sustainability and trustless properties.