Root Partners with P2P Betting Protocol Paradox on New Parimutuel Pool Model for FIFA World Cup



Paradox, a peer-to-peer betting protocol, has teamed up with Root, an on-chain marketplace for financial, prediction and commerce markets, to work on the launch of a new parimutuel betting pool model for the FIFA World Cup 2022 that the parties claim “ensures all market participants get the best odds.”

As a result of their partnership, a new betting marketplace launched on November 16, ahead of the FIFA World Cup 2022. Paradox says this will empower users and market participants to bet on the event using Roots, an ERC-20 token developed by Root.

“Root is innovating across the entire tech stack to solve the on-chain betting problem and become the dominant liquidity hub for on-chain betting. The fair odds created by the Paradox parimutuel model creates a new way to bet on the World Cup for fans,” said Manifold, Root Founding Team.

Root leverages Beanstalk, a permissionless and uncollateralized fiat stablecoin protocol that currently stands as DeFi’s only decentralized credit-based stablecoin protocol. The Root-Paradox partnership creates a cutting-edge style of sports betting where all market participants get the best odds.

The FIFA World Cup 2022 marks the beginning of the truly unique, smart contract-enabled offering that Root-Paradox aims to deliver. With Paradox pools, everyone that has the same position will get the same odds, based on the pool odds at the time any sporting event starts. In the case of the FIFA World Cup, the odds will “Lock In” at Kickoff in Qatar beginning on November 20. Therefore, bettors are not exposed to getting worse odds because of player injuries or other miscellaneous factors that affect the odds between when the bet is placed and when the event starts. The tournament will remain active through December 18.

Zoltán is a self-taught publisher and events organizer who has developed several brands and services that have increased the notoriety of his company within multi-billion dollar industries. In 2018, he has become a TEDx speaker and talked about reputation management in the digital era. As Co-Founder of HIPTHER Agency, Zoltan has helped develop highly respected online news portals, virtual and in-person conferences that cater to multiple industries on 5 continents. Among the developed brands and services you can find online news portals that cover several tech industries, gaming, blockchain, fintech, artificial intelligence, and more. In parallel, the company has built a portfolio of annually organized boutique-style conferences in Europe and North America. All the events organized by his company focus on bringing a wealth of information about the latest innovation in several industries such as Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports and many more. Zoltan enjoys writing articles on all portals owned by the HIPTHER Agency, talking at conferences, hosting the weekly HIPTHER Talks Podcast, and loves spending time with his family. Zoltan is a duathlete who enjoys training for different international competitions which include running and cycling.