LunaFi Launches Betting Protocol With Decentralized House Pools
London, United Kingdom, 21st March, 2022,
— LunaFi is the decentralized betting protocol that allows anyone to provide liquidity and “become the house” and earn a share of profit gathered from betting activity on the protocol.
The betting space has long been one of the most attractive potential applications of cryptocurrency principles, due to countless problems in depositing with fiat money, as well as the lack of transparency in how the platforms operate. The house advantage is a given in betting and gambling, but centralized platforms operate on their own turf, with little in the way of accountability or transparency.
On LunaFi, anyone can join and provide liquidity for bettors taking advantage of the protocols house edge. Bets are programmed with open smart contracts and decentralized oracles to report the outcome of each event. This means that all bets have maximum transparency in terms of payouts, with liquidity providers and bettors having the option of BTC, ETH , USDC & LFI. The risk is only ever in the bet, not the platform.
A unique bet mining & rewards system helps to bootstrap initial liquidity and reward bettors by initially removing the house edge with $LFI rewards. The treasury contract collects 1.5% of betting turnover, which is automatically converted on the DEX into LFI, of which a proportion is then burnt.
LunaFi is running a gamified & fair launch IDO / Liquidity Generation Event where players can earn LFI in exchange for ETH. Called “LunaFi Crash,” the game is a crypto-native game that showcases the betting platform. Players bet on when an ever-rising rocket might crash, which occurs through provably random smart contracts.
Formally known as Lord Porchester, George is a former professional gambler and a serial entrepreneur and has assembled a stellar team to build LunaFi and leverage his extensive knowledge & contacts in the industry.
George: “With LunaFi, we want to bring our experience in traditional gambling platforms to the crypto world, whilst removing the incentive problems you face with a centralized house,”
“The most important thing is that players now have a chance to own part of the ecosystem they are involved in, much like the spirit of DeFi. This is why we enable anyone to become the house and have a passive way of earning income.”
LunaFi is the decentralized betting protocol where you become the house. It has created a framework where developers, liquidity providers and users interact in a fair and trustless environment. Liquidity providers deposit into the house pools to earn a share of the profit and everyone in the ecosystem receive rewards in $LFI.
- George Porchester