Put your LFI to use! 💸
Today (27/04/23), marks the beginning of our highly anticipated Season 1 airdrop campaign. We understand that some of you may be curious about the potential uses for the LFI tokens you have received. Allow us to shed some light on this matter!
If you missed out on qualifying for this season's Airdrop, don't worry! We have good news for you: LFI is now listed on Bitmart Exchange. You can purchase LFI tokens on the exchange and also earn LFi as part of our Season 2 Airdrop campaign.
LFI is LunaFi’s utility token and it allows users to perform many functions.
- Bet with LFI
- Deposit LFI
- Stake LFI
- Provide Liquidity with LFI
- + More things in the works
Bet with LFI
Instead of having to deposit other cryptocurrencies into Housebets.io to play with, you can use your LFI straight away to bet on all the available Sportsbook and Casino games! So why not try and 10x your LFI airdrop the moment you get it!
Deposit in LFI
Housebets.io, our decentralized casino and sportsbook, allows for deposits in ETH, BTC, USDC and LFI. Users are encouraged to deposit in LFI as rewards from our Bet Mining scheme are paid out in LFI too.
Provide Liquidity in LFI to our House Pool
Housebet.io stands out from other betting platforms due to its innovative House Pool concept. Unlike traditional bookmakers who keep all profits from incorrect predictions, LunaFi transforms the house into a shared pool that enables any user to contribute liquidity.
Users can provide liquidity in LFI to the LFI House Pool. Liquidity providers earn their primary income from the profits generated by unsuccessful bets within these House pools. Liquidity pools are incentivised for 36 months and rewards are paid out in LFI. However, rewards are subject to a vesting schedule, meaning they are not available immediately but become accessible over time.
The amount of profit a user receives depends on the number of House Pool tokens they receive from locking their tokens within the pool. House Pool tokens represent the proportion of overall liquidity that an investor has contributed within a specific pool. Overall, Housebets' House Pool concept is an exciting way to engage users in the betting process and generate rewards while minimizing risks.
By adding liquidity to LFI housepools, users are effectively staking their LFI tokens and contributing to the platform's overall security. In return, delegators are rewarded with vLFI tokens, which serve as the platform's governance token and represent their stake in the LFI pool and in the DAO governance.
The locked LFI tokens are used to secure the protocol through validators and also serve as a mitigation tool in case of a deficit of funds in the House Pool. By taking on this additional risk, delegators become eligible for LFI rewards.
However, when withdrawing staked LFI tokens, users should note that there is a cooldown period of 10 days in place to prevent attacks on the platform. This is a necessary security measure that protects the integrity of the platform and ensures the safety of all users' investments.
*Staking rewards have been increased to 200% from today (27/04/23) and will last for one week so what are you waiting for!
LFI Roadmap 2023
It doesnt just end with the above for LFI. We are looking at many use cases to further add utility for LFI holders, as well as ways in which support the buy/ sell pressure. 2023 is going to be an exciting year for Housebets/ LunaFi users as well as LFI holders 👀