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Welcome to the BetDEX Exchange
The BetDEX Exchange is a decentralized sports betting exchange built on the Monaco Protocol and Solana.
A decentralized sports betting exchange is a peer-to-peer (P2P) marketplace that connects traders allowing them to trade their opinions on various outcomes in sports using cryptocurrency. In contrast to centralized exchanges (CEXs), decentralized exchanges (DEXs) are non-custodial meaning that users hold custody of their funds while using the platform.
The BetDEX Exchange has launched and is currently in beta.
When a user submits an order on the BetDEX exchange they are interacting with a smart contract on the Monaco Protocol. These smart contracts are settled based on the outcome of something from the world of sports. They are self-executing lines of code that will match orders from users against equivalent opposing orders and will settle these trades when the outcome of the smart contract has been determined.
The Monaco Protocol is the underlying infrastructure powering the BetDEX exchange. It is a decentralized liquidity network for exchange-based applications and is built on the Solana blockchain. It is fully permissionless and open-sourced, meaning other applications can be developed at will and benefit from the shared liquidity pool that the protocol provides.
Solana is a decentralized blockchain built to enable scalable, user-friendly apps. The BetDEX Exchange has been built on the Solana blockchain network because of its speed, high transaction throughput and low transaction cost.