LunaFi, a decentralized sports betting platform created by professional bettors, is introducing an innovative gamification mechanic via a novel Initial DEX Offering, Invezz learned from a press release.
The crypto native game, called LunaFi Crash, enables players to place bets in ether (ETH/USD) and receive LFI, LunaFi’s native token, in return.
The game is round-based. There is a rocket that goes up until it crashes, which happens at random. You can bet ether and decide to cash out at some point after the rocket launches. You get a return on your bet in LFI at TGE if your prediction is accurate. If the rocket crashes before you cash out, you can make another attempt.
Smart contracts guarantee the game is provably fair. The target raise is half a million in the first stage, where you deposit only ether. This stage starts on April 1 and goes on for one week. There will also be a classic private sale on Starter.xyz on Polygon (MATIC/USD) and Lithium.finance (BSC).
Gamified bonding process
Participants can claim all funds from the IDO on April 15, with LFI staking starting on that same date. Following initial distribution and after deploying liquidity to Quickswap, the second stage of the game will launch.
This will allow players to play with ETH-LFI LP tokens and get LFI at a discount, which they can claim in five days. In essence, this is a gamified bonding process.
George Porchester, CEO of LunaFi commented:
We thought it would be fun to have our very own gamified IDO. No better way to showcase our platform right from the start. The LunaFi Crash game is the first Proof of Concept of how we can revolutionize gambling with crypto, but there will be more.
Anyone can join the platform and provide betting liquidity, thereby earning commissions and the house edge. To identify the outcome of each event, bets are programmed with open smart contracts and decentralized oracles.
This ensures full transparency in terms of bet payout. Liquidity providers will earn commissions in Bitcoin (BTC/USD), ether and USDC.
from Ethereum – Invezz