San Jose, Costa Rica, May 13, 2025, Chainwire
DoubleUp is a blockchain casino platform based on the Sui network that aims to combine gaming with decentralized finance (DeFi) elements. It provides users with a combination of real-time betting capabilities and on-chain transparency, striving to provide a novel framework for digital gambling within the Web3 space. The platform adopts its so-called "GambleFi" model, positioned at the intersection of gaming and decentralized finance, introducing mechanisms for active and passive participation through its DeFi infrastructure.
Founded by Web3 visionary and former Mysten Labs developer HealthyDegen, DoubleUp is built for the bold with a simple goal: bring the excitement of a real casino to the decentralized world while rewarding users not only for gambling, but for participating in a growing gamified economy. From day one, DoubleUp has placed community, creativity, and crypto utility at the core of its roadmap.
At its core, DoubleUp is a decentralized casino that offers a diverse range of games — from classic coin flips, roulette, and slots to high-stakes sweepstakes and million-dollar lotteries. But what makes DoubleUp unique is that it gamifies not only the casino, but also the foundation of rewarding players and participating in DeFi itself.
DoubleUp is a community-oriented platform that incorporates a rewards system designed to go beyond traditional casino games. The platform includes sweepstakes, lotteries, referral programs, and leaderboard-based incentives that allow users to earn rewards for active participation. An important component of its ecosystem is the DoubleUp Citizen NFT, which provides exclusive benefits to holders. On May 10, 2025, DoubleUp conducted an airdrop that distributed over $100,000 in free spins to Citizen NFT holders as part of the community rewards program. In sync with the launch of the $UP token, the platform also introduced monthly competitions for $100,000. Through these mechanisms, DoubleUp aims to incentivize users for a variety of activities such as holding, playing, and staking.
DoubleUp's DeFi component, Unihouse, introduces a staking-related yield mechanism that integrates 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 results. The model is structured so that the platform's betting activity can affect the returns distributed to token stakers, creating a mutually beneficial dynamic between active bettors and passive participants. This approach also supports the use of tokens in other protocols that may not have native staking capabilities.
Now, it’s DoubleUp’s moment in the spotlight — the stealthy launch of the $UP token.
On May 11, 2025, DoubleUp launched the $UP token completely unannounced, going straight to market at a fully diluted valuation (FDV) of $40M. No pre-launch. No insider trading. Pure GambleFi energy. Within 24 hours of launch, $UP saw a surge in trading volume and awareness, reaching $53M FDV as of this writing. Early backers were rewarded, and a new chapter for DoubleUp had officially begun.
$$UP tokens play multiple roles in the DoubleUp ecosystem, including being used to purchase lottery tickets, distribute game rewards, and enhance Unihouse’s revenue mechanism. Holding $$UP gives users access to the platform’s core utility features.
DoubleUp has raised $4 million in a 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 span a wide range of experience in venture capital, blockchain technology, and online gaming. The funds will be used for infrastructure development, the launch of additional betting products, and international expansion.
DoubleUp plans to expand its product line to include sports betting, poker, and limited-time pool events. These new additions are designed to attract different types of users, including active bettors, strategy-oriented players, and passive token holders.
The platform does not require mandatory Know Your Customer (KYC) requirements, providing users with open access to its features and rewards system. As it continues to develop, DoubleUp will position itself in the emerging category of GambleFi platforms, combining decentralized financial tools with blockchain gaming experiences.
About DoubleUp
DoubleUp is a next-generation decentralized casino that redefines how users interact with crypto through high-stakes gaming and DeFi innovation. Founded by a team of experienced engineers, DoubleUp is driven by a core belief: crypto should be exciting, rewarding, and community-driven.
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This article is contributed by a contributor and does not necessarily represent the views of BlockBeats.
