San Jose, Costa Rica, May 13, 2025, Chainwire
DoubleUp is a blockchain casino platform based on the Sui network, aiming to combine gaming with decentralized finance (DeFi) elements. It provides users with a combination of real-time betting functionality and on-chain transparency, seeking to offer a novel framework for digital gambling in the Web3 space. The platform adopts its so-called "GambleFi" model, positioning itself at the intersection of gaming and decentralized finance, introducing mechanisms for active and passive participation through its DeFi infrastructure.
DoubleUp was founded by HealthyDegen, a visionary in the Web3 domain and a former Mysten Labs developer, specifically designed for the bold, with a simple goal: to bring the excitement of real casinos into the decentralized world, while not only rewarding users' gambling behavior but also their participation in a growing gamified economy. From day one, DoubleUp has placed community, creativity, and cryptocurrency utility at the core of its development roadmap.
At the core of DoubleUp is a decentralized casino offering diverse games—from classic coin flips, roulette, and slots to high-risk lotteries and million-dollar draws. However, DoubleUp's uniqueness lies in its approach of not just gamifying casino games, but also gamifying the very basis of player and DeFi participation.
DoubleUp is a community-oriented platform incorporating a reward system designed to transcend traditional casino gaming. The platform includes lotteries, draws, referral programs, and leaderboard-based incentives that allow users to earn rewards through active participation. A key component of its ecosystem is the DoubleUp Citizen Non-Fungible Token, whose holders can enjoy exclusive benefits. On May 10, 2025, DoubleUp conducted an airdrop, distributing over $100,000 in free spins to Citizen Non-Fungible Token holders as part of its community reward program. Synchronized with the $UP token launch, the platform also introduced monthly contests worth $100,000. Through these mechanisms, DoubleUp aims to incentivize various activities such as holding, gaming, and staking.
DoubleUp's DeFi component, Unihouse, introduces a betting-related yield mechanism integrated with the broader platform. Unlike traditional staking or liquidity mining protocols, Unihouse allows users to deposit supported tokens and receive returns related to the platform's betting volume and house edge outcomes. The model's structure enables the platform's betting activities to influence yields distributed to token stakers, creating a symbiotic dynamic between active bettors and passive participants. This approach also supports the use of tokens that might not have native staking functionality in other protocols.
Now is the moment for DoubleUp to take center stage—the covert launch of the $UP token.
On May 11, 2025, DoubleUp launched the $UP token completely unannounced, entering the market with a fully diluted valuation (FDV) of $40 million. No warm-up. No insider information. Pure GambleFi energy. Within 24 hours of its launch, $UP's trading volume and recognition surged, reaching an FDV of $53 million at the time of writing. Early supporters were rewarded, and a new chapter for DoubleUp officially began.
The $UP token plays multiple roles in the DoubleUp ecosystem, including purchasing lottery tickets, distributing game rewards, and enhancing the Unihouse yield mechanism. Holding $UP allows users to access the platform's core utility functions.
DoubleUp raised $4 million in its seed round at a $40 million valuation. The round was led by Karatage, with participation from Mysten Labs, Selini Capital, EBlock Capital, Comma3 Ventures, Alpha DAO, and Auros. These participants cover extensive experience in venture capital, blockchain technology, and online gaming. The funds will be used for infrastructure development, launching more betting products, and international expansion.
DoubleUp plans to expand its product line, including sports betting, poker, and time-limited prize pool activities. These new features aim to attract different types of users, including active bettors, strategy-oriented participants, and passive token holders.
The platform offers open access to its functions and reward system without mandatory Know Your Customer (KYC) requirements. As it continues to develop, DoubleUp positions itself in the emerging GambleFi platform category, combining decentralized finance tools with blockchain gaming experiences.
About DoubleUp
DoubleUp is a next-generation decentralized casino redefining how users interact with cryptocurrencies through high-risk gaming and DeFi innovation. Founded by an experienced team of engineers, DoubleUp operates on a core belief that cryptocurrencies should be exciting, rewarding, and community-driven.
Contact Information
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Telegram: @MikeCantMiss
DoubleUp
DoubleUpFun@proton.me
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