Avalanche Community Grants Quadratic Funding: [Round #1] LEVR Bet

Please provide an overview of the project:

LEVR, the world’s first Leveraged Sports Book Exchange (SBEX), redefines sports betting by offering up to 5x leverage on bets, bringing new dimensions to the betting experience. No traditional or web3 sportsbooks have ever been able to bring the experience that LEVR does with features like a Liquid In-game Exchange Market, Oracle-Driven Liquidation Engine, Hybrid Fee Structure, and Pooled Liquidity House Vault. We use all of these to bring users the best odds and a revolutionary leveraged betting experience.

Essentially, we are providing a place where people can place a money line bet on different sports like basketball, American football, baseball, and hockey (with more sports on the way down the line) pregame, and then those same people can collateralize their bets they made pregame and trade them in-game like perpetuals.

We are a small but mighty team all brought together by Mr Big and 0xEternal. As long time crypto natives and avid sports betters, the idea hit our two founders after winning big making shorts on GMX. They thought, “imagine if we can do this on chain with our sports bets?” Then they quickly formed a team capable of doing just that. A long time went into working out math that would allow us to create the product, time building out a careful GTM, time thinking through how to implement the math in solidity code. Now we are executing and happy to be right around the corner of releasing our beta and showing the world how fun LEVR really is.

Please explain how your project meets the round eligibility criteria:

  1. LEVR is building a one of a kind product that is a first mover, never been launched as a web2 or web3 product before. We plan on using this first movers moat to our advantage and growing aggressively so that LEVR becomes the name with people think of leveraged sports betting for a very long time. With the brand recognition of LEVR as a first mover, we plan on highlighting how we could not accomplish what we set out to without the tech stack and hard working individuals that stand behind Avalanche. Avalanche will be known as the home of revolutionary, one-of-a-kind products like ours. Another way we benefit the ecosystem is by building, in essence, a consumer good that people have been using for as long as they have been available - online sportsbooks. According to Statista, “Online Sports Betting market is projected to reach US$45.94bn in 2024. Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.41%, resulting in a projected market volume of US$65.68bn by 2029,” and we will be bringing some of that market share into the Avalanche Ecosystem. We also plan on building out our protocol to a subnet, which will help prove the subnet is a perfect tech stack for consumer products that need quick, cheap transactions at scale.
  2. We have partnered with 9 different NFT projects leading up to launch to help drive more hype within the ecosystem even before we launch and directly contribute.
  3. We have been around for 1 ½ years, provable from our first tweet on our twitter. We have also heavily ramped up marketing in the last 5 months in preparation for launch

How does your project benefit the Avalanche Ecosystem? Please mention any existing or upcoming partnerships:

LEVR plans on bringing value to the Avalanche Ecosystem through lots of different channels. One being our first mover of a product directly drawing crypto natives who enjoy sports betting and sports betters who enjoy crypto onto the network to play with our app, since they literally cannot play with an application like ours anywhere else. Beyond our product, we have already rooted our name into different parts of the Avalanche community, so our success brings them success. Some of our current partners are Dokyo, Dokkaebi, STEADY, Chikn, Pepe Portraits, Doggerinos, Akudo, Kimbo, and Sausagers, all NFT projects within the AVAX ecosystem. We also have conversations with other large teams such as Trader Joe and Benqi so that we can collaborate in marketing and other synergies once we are a little farther along and have more possibilities for integrations. Another way we can and will benefit the Avalanche Ecosystem is by building out to a subnet in our future. We would be one of the first if not the first casino to build onto a Avalanche subnet and prove out the technology for casino gaming heading into more and more adoption by the public, who want goods like sports books which they have been using for decades before web3.

Hold old is the project?

Almost 1 ½ years old since the beginning of building. We have ramped up our presence online tremendously over the last 5 months now that we are approaching beta and launch. You can still see our twitter was live as of Nov 2022.

Please outline any prior funding sources:

Total prior funding in USD: 2.5M
Grants: 0
VC: 2.25M
Angels: .25M
Token Launch: N/A

Please provide a link to your public group chat (Discord or Telegram) if applicable:

Is there anything else you’d like to share about your project, previous work, or other affiliations?

Our team comes from a rich background in web3. Our founders have been personally invested in web3 since 2015 and come originally from the oil & gas industry with rich connections in the sports betting world. One of these connections, Q, is a quant focused in sports betting who actually helped the team develop the math found in our whitepaper. Lastly, our CMO and Head of Growth have been working within the industry professionally for years and have prominent names on their experience list. The love of sports betting, trading perps, and crypto is ultimately what brought this team together over a year ago and it has led to countless hours of work accumulating to where we are now.

Telegram Handle of Primary Contact:

@cryptocubano11

Profiles or socials of other main team members publicly associated with the project:

X:

https://twitter.com/BigMrBlu3

https://twitter.com/0xTB1

https://twitter.com/CryptoCubanooo

Email Address(es):

josh@levr.bet

bruce@levr.bet

mark@levr.bet

ben@levr.bet

Payout Wallet Address (Payment on Avalanche C-Chain):

0x24D3EB0Cd18275Ec98754D016770064dd15ae816