Monad-based leveraged sports betting platform LEVR Bet expands testnet phase to Avalanche and plots Hyperliquid launch

LEVR Bet, the crypto-based sports betting platform, is launching on Avalanche’s recently upgraded C-Chain. 

This represents the latest advancement for the project, which launched in testnet on the Ethereum-compatible Layer-1 blockchain Monad in September. 

As the name implies, LEVR allows gamblers to take out leverage on their bets (up to 5x), a feature not available on most sports betting apps like FanDuel and DraftKings. 

LEVR’s perpetual swaps order book allows gamblers to adjust their positions during gameplay while its onchain oracles feed real-time scores and betting odds from “top” sports books. 

“With high-speed confirmation times and minimized network congestion, Avalanche is uniquely suited to support in-game betting where speed and finality are critical,” the team wrote in a statement. 

Avalanche recently implemented its Avalanche9000 upgrade to make it cheaper to run smart contracts, lower the C-Chain base fee, and drastically reduce the costs to deploy a “subnet” blockchain.

(EVM-compatible Avalanche enables groups of nodes — i.e., subnets — to coordinate and validate the transactions of specific chains or use cases.)

Founded in 2023, LEVR raised $2 million in pre-seed funding from several firms betting on the Avalanche ecosystem, including Third Earth Capital and Avalaunch. Last year, the project was also a finalist at the inaugural Monad Madness.

The application expects to mainnet first on Monad in 2025 and then expand to the buzzy Hyperliquid chain. Both networks are known for their high transaction processing speeds. 

An estimated 68 million adults placed bets on last year’s Super Bowl. 

While not yet fully live during the NFL playoffs and NBA regular season, LEVR will facilitate testnet use with “play credits” and the ability to earn community awards. In the coming months, the project expects to support “actual wagers” with payouts in USDC.