LunaFi's future and the road so far
The sportsbook platform will be the first product to go live in Q3 2022. LunaFi has been running a full beta test program that allows participants to sign up and try for free on our testnet with test tokens.
It is impossible to offer the same level of content and player experience with a non-custodial casino, as it is with a custodial service, but we are investigating innovative ways in which this may be accomplished by creating as fair a user experience as possible.
Withdrawals will be instantaneous and the wallet address of the house available to be viewed publicly and checked on the LunaFi platform to verify the house is liquid.
As more providers and games become available on-chain, we will look to add these on an ongoing basis to our main platform and liquidity pools.
Lunabets will launch across multiple platforms, providing users with a secure environment in which they may place peerless bets using cryptocurrencies, or fiat, in one seamless interface.
The oracle feeds retrieve real-world sporting event data and post-event outcomes. The oracle feeds are designed to be completely independent of the protocol.
Although the data is readily available this has been a significant challenge due to the complexity of sports betting. Chainlink, UMA, and API3 are the leading Oracle data providers and we will be working closely with one of these to ensure these decentralised feeds become standardised & available. The most likely partner is Chainlink but we are still in discussions with others.
What can we improve?
- Betting Odds Provision. LunaFi is the first betting protocol to offer liquidity pools that allow users to take a direct share in its sportsbook. Odds will be continuously calculated in real time using LunaFi's secure oracle confirming the odds are correct and current, which includes real time comparison with traditional market players like Ladbrokes and Betfair. It is our intention to supplement the in-house oracle data by aggregating decentralized oracles like Chainlink for further security.
- Settlement of results. LunaFi uses multiple feeds to determine the results of a match, including Chainlink and those currently off-chain yet to be migrated.
It is no secret that liquidity providers look for the best yields. Sporting events are often concentrated over weekends and evenings.
It is prudent that funds not being as bets earn interest through our partner DeFi platforms such as AAVE or PancakeSwap to enhance house pool yields. This will be done within the smart contract integrating its code directly with AAVE DeFi protocol, for example.
In the future, the LunaFi team hopes to continue to extend its network of technical and strategic partners to facilitate integration with various centralized betting services and DeFi protocols throughout the crypto and gambling ecosystems.
In the future, LunaFi will partner with top brands and services in the eSports world to provide trustless eSports bookmaking — giving our users the ability to bet with crypto on your favorite gaming events!