ICON
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ICX · 1w

ICONbet has released its proposal for a sports book running on ICON for TAP holders to vote on!

>[**ICONbet Community P-Rep** @IconbetP](https://twitter.com/IconbetP) We have just re-released our Sportsbook and Liquidity Provider proposal after making a few adjustments based on the community feedback :) We hope everyone is as excited as us to see this idea come to life!!! Please head over to our instagram for more info [Link](https://twitter.com/IconbetP/status/1346860358909243393?s=20) Telegram link to full proposal: [https://t.me/iconbet\_official/183513](https://t.me/iconbet_official/183513) Text of Proposal: >**How the Sportsbook Liquidity Pool Works:** > >Our first iteration was a bit complicated so we want to make this a lot simpler for less advanced or novice liquidity providers and still allow advanced liquidity providers to make good money. > >NOTE: Our liquidity pool is NOT Uniswap or an exchange like defi. We use the example to describe how it works fundamentally, but there’s really nothing like our pool out there because this isn’t a trading pair pool. You send your ICX for LQD and that LQD has a value based on how well the Sportsbook does and the amount of ICX (or other tokens) in the liquidity pool. > >CAUTION: This is a Decentralized Finance Dapp and comes with the risk of losing ICX along with making ICX, please participate responsibly. > >Liquidity Pool Profit Distribution % Structure > >50% is shared amongst ALL LQD token holders > >20% is shared amongst LOCKED LQD token holders > >· The time period is not finalized, but those that choose to lock their LQD for a predetermined period of time will receive this extra bonus > >20% to developers > >10% to TAP holders > >NOTE: The 70% shared amongst the LQD holders (unstaked/staked) shares 100% of the losses > >See the excel file for expanded math of how this will work. > >**What does it Mean to “Be the House”?** > >In traditional sportsbooks, all the bets are taken by one company. The company uses their own money, known as the “house...
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