LunaFi took blockchain technology to a new level by launching a betting protocol that uses decentralized house pools. Anyone can contribute liquidity to the pools, and “become the House” to share in the profits generated by betting activities on the protocol.

Betting is a popular front for crypto developers. Most want to solve the many problems of depositing and withdrawing money from betting platforms, as well as the lack transparency about how they operate.

LunaFi is the first protocol to address transparency. It’s a decentralized protocol, meaning that the users can control how the platform operates. Anyone can join the platform and provide liquidity to bettors.

Bets for LunaFi

Best can be programmed to report every event’s outcome using smart contracts and decentralized Oracles. This ensures maximum transparency for all bets. The terms of payouts are clear for all parties. Liquidity providers and bettors have the option to choose between USDC, ETH and BTC.

LunaFi has an innovative bet mining system and reward system. This helps to bootstrap initial liquidity and rewards those who participate in betting. The house edge is removed first with LFI rewards. Lunafi’s Treasury department takes 1.5% of betting revenue and converts it to LFI, after which a small amount is burned.

LunaFi Crash game

LunaFi Crash, a crypto-based casino that is available on the LunaFi betting platform, involves placing bets on when an ever-rising missile might crash. This is done using rather random smart contracts.

According to George, a former professional gambler who is also a serial entrepreneur. He was also one of the founders and CEOs of LunaFi:

“With LunaFi we hope to bring our expertise in traditional gambling platforms to crypto, while removing the incentive issues that can be faced with a central house. It is important that players have the opportunity to be part of the ecosystem, just like DeFi. This is why we enable anyone to become the house and have a passive way of earning income.”