DoubleUp Launches as the First GambleFi Casino Platform Operating on the Sui Network, Raising $4M in Seed Funding

DoubleUp is a blockchain-based casino platform operating on the Sui network, designed to integrate gaming with decentralized finance (DeFi) elements.

San Jose, Costa Rica, Chainwire

DoubleUp, a blockchain-based casino platform operating on the Sui network, has emerged as a hybrid platform integrating gaming with decentralized finance (DeFi) elements. It offers users a combination of real-time betting features and on-chain transparency, aiming to provide a novel framework for digital gambling within the Web3 space. The platform incorporates what it terms a “GambleFi” model, positioning itself at the intersection of gaming and decentralized finance by introducing mechanisms for both active participation and passive engagement through its DeFi infrastructure.

Founded by HealthyDegen a visionary Web3 builder and former Mysten Labs developer, DoubleUp was designed for the bold, by the bold. The goal is simple: bring the excitement of a real casino into the decentralized world, while rewarding users not just for gambling, but for participating in a growing, gamified economy. From Day 1, DoubleUp has put community, creativity, and crypto utility at the center of its roadmap.

At its core, DoubleUp is a decentralized casino offering a wide range of games—from the classic’s like coinflip, roulette, and slots, to high-stakes raffles and Million dollar lottery. But what sets DoubleUp apart is how they’ve gamified not just the casino, but the very foundation of rewarding it’s players and DeFi participation.

DoubleUp operates as a community-oriented platform, incorporating a reward system designed to engage participants beyond traditional casino gameplay. The platform includes features such as raffles, lotteries, referral programs, and leaderboard-based incentives, allowing users to receive rewards through active participation. A notable component of the ecosystem is the DoubleUp Citizen NFT, which enables holders to access exclusive benefits. On May 10, 2025, DoubleUp conducted an airdrop distributing over $100,000 in free spins to Citizen NFT holders as part of a community rewards initiative. In conjunction with the launch of the $UP token, the platform also introduced a $100,000 monthly contest. Through these mechanisms, DoubleUp aims to incentivize a range of user activities including holding, playing, and staking.

DoubleUp’s DeFi component, Unihouse, introduces a betting-linked yield mechanism that integrates with the broader platform. Unlike conventional staking or liquidity farming protocols, Unihouse allows users to deposit supported tokens and earn returns that correlate with platform betting volume and house edge outcomes. The model is structured so that platform betting activity can influence the yield distributed to token stakers, enabling a reciprocal dynamic between active bettors and passive participants. This approach also enables the use of tokens that may not otherwise offer native staking functionality within other protocols.

And now, the moment that pushed DoubleUp into the spotlight—the stealth token launch of $UP.

On May 11th, 2025, DoubleUp launched the $UP token completely unannounced, dropping it straight onto the market at a fully diluted valuation (FDV) of $40 million. No pre-hype. No upper-hands. Just pure GambleFi energy. Within 24 hours of launch, $UP surged in both volume and visibility, sitting at a $53M FDV at the time of this writing. Early believers were rewarded, and a new chapter for DoubleUp officially began.

The $UP token serves multiple roles within the DoubleUp ecosystem, including facilitating lottery ticket purchases, distributing gameplay rewards, and enhancing yield mechanisms within Unihouse. Holding $UP provides users with access to core utility features across the platform.

DoubleUp has raised $4 million in a Seed funding 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 represent a range of experience across venture capital, blockchain technology, and online gaming sectors. The funding will be allocated toward infrastructure development, the launch of additional betting products, and international expansion efforts.

DoubleUp plans to expand its offerings to include sports betting, poker, and time-limited campaigns with defined prize pools. These additions are designed to broaden the platform’s appeal across various user profiles, including active bettors, strategy-focused participants, and passive token holders.

The platform operates without mandatory Know Your Customer (KYC) requirements, offering users open access to its features and reward systems. With its continued development, DoubleUp positions itself within the emerging category of GambleFi platforms that combine decentralized financial tools with blockchain-based gaming experiences.

About DoubleUp

DoubleUp is a next-generation decentralized casino redefining how users interact with crypto through high-stakes gaming and DeFi innovation. Founded by a team of seasoned engineers, DoubleUp was built with one core belief: crypto should be thrilling, rewarding, and community-driven.

Contact

Business Developmenttelegram @MikeCantMissDoubleUpDoubleUpFun@proton.me