San Jose, Costa Rica, May 13, 2025, Chainwire

DoubleUp is a blockchain casino platform based on the Sui network, designed to combine gaming with decentralized finance (DeFi) elements. It offers users a blend of real-time betting functionality and on-chain transparency, aiming to provide a novel framework for digital gambling within the Web3 space. The platform employs its so-called "GambleFi" model, positioned at the intersection of gaming and decentralized finance, introducing mechanisms for both active and passive participation through its DeFi infrastructure.

DoubleUp was founded by visionary figures in the Web3 space, including HealthyDegen, a former developer at Mysten Labs, specifically for the bold. Its goal is simple: to bring the thrill of real casinos into the decentralized world, while not only rewarding users for their gambling activities but also for 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 heart of DoubleUp is a decentralized casino offering a diverse range of games—from classic coin tosses, roulette, and slot machines to high-stakes raffles and million-dollar lotteries. However, what sets DoubleUp apart is that it not only gamifies casino games but also gamifies the very foundation of rewarding players and DeFi participation.

DoubleUp is a community-oriented platform that incorporates a rewards system designed to transcend traditional casino gaming. The platform includes raffles, lotteries, referral programs, and leaderboard-based incentives, allowing users to earn rewards through active participation. A key component of its ecosystem is the DoubleUp Citizen NFT, which grants holders exclusive benefits. On May 10, 2025, DoubleUp conducted an airdrop, distributing over $100,000 in free spins to Citizen NFT holders as part of its community rewards program. Coinciding with the launch of the $UP token, the platform also introduced a monthly competition with a prize pool of $100,000. Through these mechanisms, DoubleUp aims to incentivize users to hold, play games, and stake.

DoubleUp's DeFi component, Unihouse, introduces a yield mechanism related to betting, integrated with the broader platform. Unlike traditional staking or liquidity mining protocols, Unihouse allows users to deposit supported tokens and earn returns based on the platform's betting volume and house edge outcomes. The structure of this model enables the platform's betting activities to influence the rewards distributed to token stakers, creating a reciprocal dynamic between active bettors and passive participants. This approach also supports tokens that may not have native staking capabilities in other protocols.

Now is the moment for DoubleUp to take the spotlight—the stealth launch of the $UP token.

On May 11, 2025, DoubleUp launched the $UP token completely without prior notice, entering the market with a fully diluted valuation (FDV) of $40 million. No preheating. No insider information. Pure GambleFi energy. Within 24 hours of the launch, the trading volume and visibility of $UP surged, reaching an FDV of $53 million at the time of this writing. Early supporters were rewarded, and a new chapter for DoubleUp officially began.

The $UP token plays multiple roles within the DoubleUp ecosystem, including being used for purchasing lottery tickets, distributing game rewards, and enhancing the yield mechanism of Unihouse. Holding $UP allows users to access the platform's core utility features.

DoubleUp raised $4 million in its seed round at a $40 million valuation. This round was led by Karatage, with participation from Mysten Labs, Selini Capital, EBlock Capital, Comma3 Ventures, Alpha DAO, and Auros. These participants bring a wealth of experience from the venture capital, blockchain technology, and online gaming sectors. The funds will be used for infrastructure development, launching more betting products, and international expansion.

DoubleUp plans to expand its product line to include sports betting, poker, and limited-time prize pool events. These new features aim to attract different types of users, including active bettors, strategy-oriented participants, and passive token holders.

The platform does not impose mandatory Know Your Customer (KYC) requirements, providing users with open access to its features and rewards system. As it continues to develop, DoubleUp positions itself within the emerging GambleFi platform category, combining decentralized finance tools with blockchain gaming experiences.

About DoubleUp

DoubleUp is a next-generation decentralized casino that redefines how users interact with cryptocurrency through high-risk gaming and DeFi innovations. Founded by an experienced team of engineers, DoubleUp adheres to a core belief: cryptocurrency should be exciting, rewarding, and community-driven.

Contact Information

BD

Telegram: @MikeCantMiss

DoubleUp

DoubleUpFun@proton.me

This article is contributed content and does not represent the views of BlockBeats.

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