Introduction

Betswave is building a decentralized sports betting and gaming platform on Hedera with a clear design goal: deliver a transparent, non-custodial betting experience where users remain in control of funds and outcomes are settled on-chain.

Most betting platforms today operate as centralized intermediaries. They typically custody user funds, define payout logic off-chain, and apply fees in ways that are not always transparent to users. This structure creates avoidable trust assumptions and limits user control.

Betswave is designed differently:

• Users bet directly against other users through peer-to-peer (P2P) betting mechanics rather than against the house.
• Settlement and payouts are handled via smart contracts, making key platform actions verifiable.
• Fees are designed to be flat and visible upfront, with on-chain enforcement to improve auditability.
• Privacy-first access is supported through Web3 wallet login or email-based onboarding using Web3Auth, without requiring the platform to store personal data.

Betswave’s governance and incentives are structured to evolve over time. In early phases, risk-sensitive decisions are guided by a trusted multi-signature team to prioritize user protection. As the platform matures, governance is progressively shifted toward a community-led DAO model.

This whitepaper (v1.1) summarizes the market context, the platform’s operational approach, the roadmap, and the principles behind the WAVE and ORCA utility layers.