FAQ

Tor Bet is a cutting-edge platform that currently offers four main features. Firstly, it allows users to place sports bets using the Tor token in a decentralized and Web3 technology-supported environment. Secondly, it offers lottery draws, providing users with even more opportunities to win big. Thirdly, it enables users to place bets using NFTs, offering a unique and innovative way to bet. Finally, the platform allows for partnerships with global betting sites, enabling users to bet on those sites using the Tor token. With these features, Tor Bet is at the forefront of the blockchain betting industry, providing a secure and innovative platform for users to engage in exciting betting experiences.

Decentralized betting, unlike traditional platforms, operates without a central intermediary, utilizing blockchain technology and smart contracts. Tor Bet project embraces this concept, offering users a transparent, fair, and secure betting environment.

Tor Bet is a decentralized betting platform that leverages these advantages. It functions through smart contracts, allowing automatic execution of agreements among bettors without the need for a central authority. This minimizes risks of fraud and manipulation, providing users full control.

The significance of Tor Bet lies in the transparency, fairness, and security inherent to decentralized betting. Traditional platforms often determine outcomes and winners at the discretion of the platform owner or intermediary. In contrast, decentralized platforms use smart contracts to transparently manage this process, ensuring bettors’ trust in results.

By embracing the benefits of decentralized betting, Tor Bet aims to offer a more equitable and secure betting experience. This approach empowers users to control their assets while reflecting the potential for the platform to introduce innovations to the betting industry through its future developments and adopted technologies.

The value of unstable tokens in the crypto market can fluctuate greatly. To mitigate this risk for our users, we have implemented a system where users can trade their Tor Tokens for USDB stable tokens when placing their bets. This allows them to participate in the betting without being affected by any fluctuations in the value of Tor Tokens. For instance, if a user places a bet with 10 USDB stable tokens today, they will receive the same value and odds regardless of any changes in the Tor Token’s value in the following days.

Users connect to the platform with a wallet such as Metamask or Trust Wallet. They give Tor tokens to the platform and receive USDB tokens in return. In the background, the system uses the Tor tokens received from the user to purchase USDT Tether. This way, the Tor tokens received from the user are reserved with Tether by the platform. For example, if a user gives Tor tokens to the platform worth 10 USDT, the platform gives the user 10 USDB and the system swaps the Tor tokens received from the user with 10 USDT. This allows users to make bets on the platform without being affected by the fluctuations of Tor tokens.

Our goal with Tor token is to enable its use not only on the Tor Bet platform but also on global betting websites by partnering with them. We understand that most global websites aren’t on web3 platforms. To make them compatible with us and behave like a web3 platform, we’re developing an AUTH feature. This AUTH feature will allow non-web3 betting sites to easily accept bets with Tor tokens. Betting websites interested in using Tor tokens can apply through the Tor official website. After the application, we will provide a key for their existing websites and enable them to integrate seamlessly with the TOR platform using a postback URL.

With the Tor partnership feature, we aim to expand the reach of Tor tokens to a wider audience. Partnered betting sites will be able to offer betting opportunities to a broader audience, especially those looking for anonymity.

For betting sites using Tor tokens, 1% of the revenue generated will be deducted as a commission by Tor Bet, and the remaining 99% will be transferred to the wallet address specified by the betting site in the system.

“Tor Bet: Illuminating the Future of Decentralized Betting”

In the ever-evolving landscape of blockchain technology and decentralized applications, Tor Bet emerges as a beacon of innovation and promise. This forward-thinking project is not just reshaping the betting industry; it’s illuminating a path toward a more transparent, secure, and rewarding future for all involved.

1. Disrupting Tradition with Blockchain: Tor Bet is at the forefront of disrupting traditional betting platforms by harnessing the potential of blockchain. Through blockchain’s immutable ledger and smart contracts, Tor Bet ensures that every transaction is transparent, secure, and tamper-proof. This level of trust in the system is the cornerstone of its bright future.

2. Empowering Users with Choice: In the Tor Bet ecosystem, users are not merely participants; they’re empowered decision-makers. Whether they opt for sports betting, lottery participation, or NFT-driven strategies, users have choices that go beyond conventional betting. This versatility attracts a diverse user base and contributes to the project’s potential for growth.

3. Global Expansion and Partnerships: Tor Bet’s vision extends far beyond borders. With plans to collaborate with leading global betting platforms, it aspires to become a globally recognized name in decentralized betting. This expansion not only broadens the project’s reach but also opens doors to new opportunities for both users and investors.

4. Token Value and Utility: The Tor Token, at the heart of the project, represents more than just a means of exchange. It embodies potential value appreciation. As the Tor Bet ecosystem grows and gains traction, the demand for Tor Tokens is likely to rise, potentially benefiting early investors.

5. Community-Driven Innovation: The Tor Bet community is not just a passive audience; it’s an integral part of the project’s development. Community input and involvement are valued, fostering a collaborative environment that continuously innovates and adapts to meet user needs.

In conclusion, Tor Bet isn’t just a betting platform; it’s a glimpse into the future of decentralized applications. Its commitment to transparency, security, and user empowerment, coupled with a global vision and a supportive community, sets the stage for a brilliant future. As blockchain technology continues to reshape industries, Tor Bet stands as a testament to the potential of what’s to come.

Investors who recognize the transformative power of this project may find themselves not just witnessing, but actively participating in, the radiant future of decentralized betting with Tor Bet.

The USDB token is a chip token used in bets and draws on our platform, and we use a number of methods to ensure its stability. Firstly, when users give us Tor tokens, we swap these tokens with Tether USDT. This way, for every 1 USDB stable chip token we give to the user, we reserve 1 USDT. Therefore, the value of each USDB token is equivalent to 1 USDT.

After the user places a bet, they give the platform USDB tokens. Then, our system in the background swaps the USDT tokens it holds with Tor tokens and gives the Tor tokens to the user. This way, the USDB token remains stable and users are not affected by fluctuations while placing bets.

In addition, we monitor the movements of markets to ensure the stability of the USDB token. If there is a fluctuation, we intervene as soon as possible to try to maintain the value of the USDB token. This way, users can safely place bets on our platform.

USDB (USD Backed Token): Ensuring Stability and Confidence in Tor Bet Platform

What is USDB?
USDB, or USD Backed Token, is a stable cryptocurrency designed to serve as the primary betting chip within the Tor Bet platform. It is unique in that its value is always fixed at $1, making it a reliable digital asset for users. USDB’s value is backed by reserves held in Tether, ensuring its stability even in the face of crypto market fluctuations.

How USDB Works:

Acquiring USDB: To engage in betting activities using USDB, users must first possess TOR tokens. Users connect their wallets to the Tor Bet platform, and through a simple Swap process, they acquire USDB tokens. This process ensures that users have a stable cryptocurrency to use for betting.

Platform’s Role: Behind the scenes, the Tor Bet platform acquires USDT Tether using the TOR tokens received from users during the Swap process. The purpose of this process is to reserve and secure the 1 USDB token provided to users with 1 Tether, maintaining its fixed value.

Swapping USDB: When users wish to convert their USDB tokens back into TOR tokens, the Tor Bet platform utilizes the USDT Tether reserves it holds to execute the Swap. This enables users to exchange their USDB tokens for TOR tokens seamlessly.

Why Use USDB?

Stability Guaranteed: USDB is not subject to the price volatility commonly associated with other cryptocurrencies. Its value remains constant at $1, ensuring that your betting activities are not affected by market fluctuations.

Effortless Transition: The process of swapping between USDB and TOR tokens is straightforward and user-friendly, thanks to the Tor Bet platform. It allows you to participate in betting without the complexities often encountered in the world of cryptocurrencies.

Enhanced Confidence: By using USDB, you contribute to the overall stability of the Tor Bet platform. This stability fosters confidence among users, as they know their betting experiences are reliable and secure.

In summary, USDB is the cornerstone of the Tor Bet platform, offering a dependable and stable means for users to engage in betting activities. Its fixed value, backed by Tether reserves, ensures that your bets and earnings are safeguarded from the inherent volatility of the cryptocurrency market. When you decide to convert your USDB tokens back to TOR tokens, the platform seamlessly executes the Swap, using its USDT Tether reserves, and provides you with your TOR tokens.

We will be holding various lotteries with different odds through Tor Bet. Users who participate in the lottery will have a chance to win based on the amount of tor tokens they send to the lottery pool. The more Tor tokens you contribute to the pool, the higher your chances of winning. For example, if 10 users participate in the lottery with 200 Tor tokens each, and another user participates with 2000 Tor tokens, the total pool will be 4000 Tor tokens. The user who contributed 2000 Tor tokens will have a 50% chance of winning (i.e. 2000 out of 4000).

The Tor token wallet used for the lottery is only for lottery purposes and serves as a pool for the Tor tokens. You can read more about the details of the lottery in our whitepaper.

In the Tor Bet platform, you can place bets using only the USDB token. To own this token, users need to possess Tor tokens. A user swaps their Tor tokens for USDB tokens within the Tor Bet platform. Subsequently, they can utilize the acquired USDB tokens for betting. This approach maintains the platform’s decentralized nature and promotes the utilization of ecosystem-specific tokens.