LunaFi Launch Announcement — IDO Launch 8th June 2022

We are very excited to announce that LunaFi will be blasting off on Polygon & SX Network with our IDO set for the 8th of June.

LunaFi is the world’s first decentralized DeFi betting platform. Our founding and technical team are long-time veterans in the betting & blockchain space, and have experienced the culture that challenges trust in the traditional betting system first–hand. This is what lead us to create LunaFi, removing middlemen and offering investors unprecedented access to a share of in-house profits. In the LunaFi Ecosystem, you are the house.

By harnessing the power of decentralized technologies, community governance, and autonomous smart contracts, LunaFi allows users to securely place peerless bets in a trustless, non-custodial betting platform. To put it simply, we allow players to share in the platform’s profits and become the house. Our second security audit saw us score 9.3 /10 from Hacken.

Once launched, the LunaFi protocol will be live on Polygon & SX. Users may then stake $LFI and deposit into the House pools. This will be followed by the Lunabets.io launch in late June/July 2022, allowing users to bet against the house, with liquidity providers earning yield rewards from bets made on the platform.

LunaFi provides a complete DeFi platform suite of tools designed to decentralize sports betting and prediction markets and increase yield, powered by a community-owned liquidity pool known as a House Pool. This suite can also be integrated by developers looking to add peerless betting functionaly to their dApps — the first of which will be LunaFi’s own dApp, Lunabets, a decentralized sportsbook application.

What is LunaFi?

In a world where distrust in centralized institutions is on the rise, it is LunaFi’s mission to place ownership and power in the hands of the people with a hybrid protocol for DeFi gambling that is driven by user-contributed liquidity, community-owned, and fueled by the $LFI token.

Community is at the heart of everything we do. LunaFI gives ownership of its platform directly to its end users through governance rights. The $LFI token serves multiple functions and conveys several rights within the LunaFi ecosystem;

$LFI will be awarded to users based on actual platform usage, fostering a sense of community and ownership with your peers. We will provide holders and users access to special games, tournaments, products, and discounted commission structures on all house pools in the future.

Staking $LFI to receive $vLFI can be used as governance to submit proposals and vote. Liquidity incentives will be distributed to all participants of the ecosystem including players, investors, and liquidity providers. Developers using the LunaFi protocol pay fees in $LFI to build their dApps. With every bet accepted in a house pool, 1.5% of turnover is automatically claimed by the Treasury Contract.

Players earn $LFI rewards in exchange for providing liquidity, and stakers earn $LFI for participating in the governance/security of the platform. All revenues of the ecosystem are shared with all $LFI token holders.

Our goal was to devise an interoperable DeFi architecture that can revolutionize the way money is gambled, using decentralized technologies to optimize and democratize the ancient human pastime of betting. Our smart contracts ecosystem comprises the following:

• House Pools — A house pool contract allows liquidity provider deposits (USDC, BTC & ETH) to bankroll Lunabets and third-party dApps that integrate LunaFi.
• TreasuryDAO — The DAO wallet store offers cold storage for treasury funds and the distribution of profits to community members.
• Rewards Contract — Distributes $LFI tokens to players & liquidity providers.
• $LFI Governance Pool — contract that requires $LFI to be staked to participate in voting on proposals for ecosystem improvements in order to receive further $LFI token incentives. Users also receive revenues from $LFI bets + $LFI tokens from the TreasuryDAO & Rewards contract in return for securing the protocol.

The LunaFi ecosystem incorporates a Treasury, House Pools and community DAO. To align LunaFi’s ecosystem development with community interests, 20% of the $LFI supply will be distributed to the community primarily to incentivize participation in betting, provision of liquidity, and governance rewards.

The LunaFi Launch

Both LunaFi and SportX have agreed to make $600,000 of SX-LFI liquidity available in the SharkSwap treasury on the SX Network. This will be added to the LFI-SX trading pair and then burned to ensure they are locked forever. The pool will be further incentivised with an additional $50,000 of $LFI & $50,000 of $SX awarded to liquidity providers for the first 3 months.

Liquidity will also be provided on the Quickswap DEX on the Polygon network with the trading pair ETH-LFI.