LunaFi has advanced blockchain technology by launching a decentralized house pool betting protocol. Anyone can provide liquidity to the pools and effectively “be the house,” earning a share of the profits generated from betting activity on the platform.
Betting has become a focus for crypto developers aiming to solve persistent problems such as depositing and withdrawing fiat from betting platforms and a lack of transparency around how those platforms operate.
First and foremost, LunaFi addresses transparency by operating as a decentralized protocol, giving users control over how the platform is run. Anyone can join and supply liquidity to support bettors.
Betting on LunaFi
Bet outcomes are reported programmatically using smart contracts and decentralized oracles, providing maximum transparency for all wagers. Every participant gains a clear view of payout conditions, and liquidity providers can choose between BTC, USDC, ETH, and LFI for staking.
LunaFi also implements a unique mining and betting rewards system to bootstrap early liquidity and reward participants. Instead of maintaining a traditional house edge, the protocol initially replaces part of that edge with LFI rewards. LunaFi’s treasury collects 1.5% of betting revenue and converts it into LFI, with a portion of the tokens subsequently burned.
LunaFi Crash Game
LunaFi Crash is a crypto-based game built on the LunaFi betting platform. Players bet on how long a rocket-like multiplier continues to rise before it potentially crashes; the outcome is determined by a pseudo-random smart contract mechanism.
According to George, a former professional gambler, serial entrepreneur, and one of LunaFi’s co-founders:
“With LunaFi, we aim to bring our experience from traditional gambling platforms into the crypto world while removing the misaligned incentives found in centralized ‘houses.’ Most importantly, players now have the opportunity to own a piece of the ecosystem they participate in, in line with the spirit of DeFi. That’s why we enable anyone to become the ‘house’ and earn passive income.”