FAQs - LunaFi

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FAQs
Frequently asked questions about the LunaFi Protocol and the Lunabets product suite.
Where are my funds?
Funds will be in the user's wallet which only the user controls. A transparent, auditable escrow contract will be created on the blockchain which will settle bets based upon the event outcome and send funds accordingly to the winner.
What is a wallet?
A blockchain wallet is a digital wallet that allows users to store and manage cryptocurrencies like Metamask (download it as an extension within your browser) allowing you to interact with Web 3.0 dApps.
Which wallet will I need?
We have integrated our platform with Metamask, Wallet Connect & Magic Link. Magic link provides the simplest solution but It will not allow users to interact with other dApps.
Difference between LunaFi & Lunabets?
The LunaFi protocol allows users to own a share of the house by depositing to the house pools. Lunabets is the flagship front-end betting platform that allows betters to interact with smart contracts.
What is a dApp?
A decentralized application (dApp) built on a decentralized network that combines smart contracts and a frontend user interface.
What is Polygon?
Previously known as the MATIC Network, Polygon is a framework for building interconnected blockchain networks to provide fast, secure, scalable, decentralized apps and marketplaces. Polygon is a layer-two (L2) scaling platform that leverages the security benefits of ETH as well as its smart contracts, but significantly improves the throughput (tx) capacity to 10,000 transactions per second making it more affordable, due to competitive gas fee prices.
This is why many big-name projects in the DeFi ecosystem have migrated to the Polygon network from ETH mainnet whilst maintaining backward compatibility with the EVM (Ethereum Virtual Machine) with the added efficiency of a Layer 2 solution.
What is the SX Network?
SX Network is a stand-alone smart contract blockchain built on the Polygon SDK. It is designed from the ground up especially for sports betting blockchain applications.
What is the difference between LunaFi & Lunabets?
The LunaFi protocol allows users to own a share of the house by depositing LFI Tokens into the house pools. IT allows developers to create peerless gambling products that operate securely, without oversight or intervention from a centralized middleman or bookmaker.
Lunabets is our flagship decentralized betting platform that allows users to gamble online with digital currencies in a safe, transparent, peerless environment. Lunabets is non-custodial, so funds are stored within a unique user’s wallet which only they control. A transparent, auditable escrow smart contract autonomously pays out winning bets, verifiable on the blockchain, in the event of an outcome, sending funds automatically to the winner.
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