Everything you need to know about OwlDAO - Solana's biggest gaming platform

Updated on 15 August, 2022 4:29 PM
1 min read

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    Before exploring the gaming platform acclaimed to be changing the gaming industry for Web 3.0, let us discover some basic terms like decentralized finance (DeFi), which you might come across a few times while trying to learn about OwlDAO. As the name suggests, decentralized finance is a financial system not regulated by centralized authorities such as stock exchanges, brokers, banks, etc. They utilize smart contracts to process transactions and record the same.

    A smart contract is a coded contract written between a buyer and a seller, which defines their terms and conditions of trade. The contract is self-executable, and the transactions executed via smart contracts are irreversible and traceable. They are operated via code and function on the decentralized blockchain.

    The OwlDAO platform is known to provide blockchain-based gaming solutions to DeFi projects across all industries. Certik regulates the platform and its contracts. It is a leading company in the domain of blockchain security that secures and monitors Web3 apps, smart contracts, and blockchains.

    The OwlDAO platform is a leading multi-chain DAO and an iGaming solution for Web 3.0. It hosts more than 3000 casino games.

    What is a DAO (Decentralized autonomous organization)?

    As mentioned above, the platform is a multi-chain DAO; you must be wondering whether DAO is just another fancy-looking term in the world of crypto or has legit use. As we do not like to bother our readers by jumping from one site to another, we try to present most of it in our blog just to discover what is behind a new term in crypto. DAO stands for Decentralized Autonomous Organization and is a blockchain-based organization governed by native crypto tokens. People owning such tokens have the authority to vote on essential proposals and issues related to DAO. You can read more about what are DAOs here

    OwlDAO and its partners

    OwlDAO partners with some of the most popular Web 3.0 gaming industry names, such as Playtech, Evolution Gaming Group, Pragmatic Play, etc. It supports various Ethereum Virtual Machine (EVM) based networks such as Ethereum, Polygon, Binance Smart Chain (BSC), Harmony, Celo, Fantom, xDAI, Arbitrum, Avalanche, Cronos, and Aurora.

    OwlDAO’s native token OWL

    The tradable and liquid token offered by the platform is $OWL which currently operates across various platforms such as Polygon, Fantom, BSC, BabySwap, PancakeSwap, PolyDEX, and SpiritSwap. The $OWL token enables its users utilize Owl.Games as a bridge across chains, without paying any additional charges. 

    What is Owl.Games?

    It is known as the signature platform of OwlDAO. It provides instant connectivity through Phantom Wallet, Metamask, Terra Station, Wallet Connect, Near Wallet, etc. This provides fast transaction speed and saves its users from the hassles of lengthy account registration procedures, slow payments, and limited currencies. The platform shares contribute a share of the revenue generated from Owl.Games to projects under its umbrella with the help of BuyBacks and Staking. At the time of writing, OwlDAO has lent $460,000 to its buyback and staking program.

    How to get started with OwlDAO?

    Similar to most gaming platforms, you first need to connect your wallet with the platform. You then choose from the pool of games offered and start playing. Every game has a different set of instructions that are mentioned once you begin the game. The platform supports several genres of games such as bonus, slots, feature buy, casuals, roulette, game shows, poker, sports blackjack, card, live casino, etc., to provide a rich gaming experience to its users. You can also check out the new games launched on the platform under its “New Release” tab. 

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