ZenSports, Esports, and SPORTS tokens

Jacob Shrader | Nov 18, 2020

ZenSports, Esports, and SPORTS tokens

Hey All!

This blog post is for our esports folk, specifically gamers who want to learn more about ZenSports Esports Tournaments and what they can do with their SPORTS prize pool. 

The blog post will be split into 3 sections. First I will cover SPORTS in general, then I will discuss SPORTS in an esports-focused context, then I will briefly tie it all into ZSTs and where it all is going from here!

SPORTS tokens are ZenSports own cryptocurrency. This means we did what is called an “ICO” or an “Initial Coin Offering” back in July of 2019

SPORTS offer unique rewards within ZenSports. Remember, we still offer other payment options in ZenSports, such as; BTC, ICX, or debit card deposit. 

These rewards include the generic benefits of using crypto: decentralized transactions, no charge-backs, lower transaction fees and wayyyy more benefits on top of these!

ZenSports SPORTS token is a utility token, not a security token, you can learn about the difference between the two here

On top of those benefits, SPORTS tokens offer in-app rewards on top of this! 

SPORTS Rewards

Lower Betting Fees: 1% Maker bet fees vs. 2.5% for other currency options. 2.5% fee for Taker bets vs. 5% for other currencies. 

Lower Escrow Dispute Fees: This escrow fee is used to ensure competitive integrity on the ZenSports platform. On all bets made, a small portion of the amount wagered is held in escrow. If there is a dispute over the result of the bet, the ZenSports community votes on the correct outcome of the bet. The voters receive the losing players escrow fee, while the winning player keeps his own fee. 

5% set aside in escrow on Maker bets vs. 10% for other currency options. 

2.5% set aside in escrow on Taker bets vs. 5% for other currency options. 

Remember, these escrow holdings are only used if in the case of a dispute between the maker and taker of a specific bet!

Cash Back Bonuses: Earn cash back on your monthly SPORTS wagering volume! This includes bets, daily fantasy, and ZST entry fees!

These cash back bonuses come in three forms:

Maker Betting Volume

Taker Betting Volume

Infrequent Withdrawals

SPORTS and Esports

In the section above, it is clear that most of the current SPORTS rewards are focused on betting volume, this will not be the case for long. 

As a utility token, we see SPORTS as a great way to provide meaningful and tangible benefits to playing in ZenSports Esports Tournaments. 

Just like how SPORTS offer rewards for Maker and Taker betting volumes, SPORTS will offer rewards catered especially to gamers! 

Think of SPORTS as a token to signify your esports success on ZenSports. SPORTS can be earned through ZSTs or through specific content series for the games featured in ZSTs. 

These SPORTS all go directly to your ZenSports account, providing a running total of SPORTS earned through our esports initiatives. As we host more events and reward more SPORTS, we will be able to create “Leaderboards” for gamers participating in ZSTs. 

The top performing players will earn cash back based on their performance compared to other ZST participants. These leaderboards will be split by genre. It alludes that our first ZenSports Esports Leaderboards will fall under the Arena FPS genre of games. 

Keep in mind that you will only earn cash back for the SPORTS you keep on ZenSports. You can withdraw at any time, but this will sacrifice your future dividends on ZenSports. 

We also plan to allow users to trade in SPORTS for the MTX currencies of the games we host ZSTs on. This means that you can use SPORTS to buy skins!

ZenSports Sponsored Tournaments

For a full rundown on ZSTs, click here.

Here is a quick TL:DR

ZSTs are our very own esports tournaments. Players can register on ZenSports and fans can view the action during the events right on the ZenSports app (thanks to the Twitch API.)

Fans can use these player streams to follow any bets placed on the action. Yes, ZSTs are open for betting on the “Bets/Contests” page and the “ZenSports Tournaments” tab.

 

Thanks for reading!!

Download the ZenSports app for Android or iOS