LunaFi & Lunabets -September Review

UI/UX improvements to come this month as we move to live from beta

Lots to catch up on at LunaFi HQ since our successful token upgrade on Ethereum & Polygon!

I’ve just returned from Malta, speaking about LunaFi on the iGaming Next Hot 6 Panel. It was great to talk to industry veterans about LunaFi & what problems we are trying to solve when most view crypto as simply a payment solution.

Last month saw the release of our sportsbook Beta, Lunabets. We are delighted to see bets on all sporting events as the community tries to turn $1000 of their test USDC into $50,000 to receive $1000 of USDC.

What have we accomplished?

1. The LunaFi house pool is accepting single & multiples bets from Lunabets — calculating Max Exposure, Expected Value, and Pending Stakes. This was no small feat and an exceptional milestone for the team.
2. The treasury wallet is receiving pending commission- Every accepted bet is charged commission as a percentage of the house edge. (Users never see the commission as it is a tax on Liquidity Providers The commission only gets refunded when a bet is void. The house pool covers this shortfall on winning bets.)
3. Oracle correctly informing the contract of the outcomes & the house pool is paying back to winning users. The oracle we are using now is linked to Sportradar, notifying the contract and successfully settling bets with little delay.
4. LFI Rewards integrated on beta As part of Lunabets giving ownership to those who use the platform, a percentage of the house edge is rewarded in LFI tokens. The rate increases the higher the betting turnover.

What’s coming up?

1. Casino on Testnet- We are hard at work with our partners at Hub88 to bring you thousands of your favourite live dealer, slots & table games
2. LunaFi House Pools on Testnet- Allow users to try out the platform and provide valuable feedback
3. Sportsbook & Casino Live!!! We hope to have a soft launch later this month, accepting real funds ahead of the world cup

For any questions, please do reach out to us on Discord. We are always interested in any potential partnerships and collaborations.

Porchy