Lamas Finance is a GameFi project with the core mission to provide users with real blockchain gaming experiences and the opportunity to profit from many DeFi’s essential functions.
Developed on Solana - the fastest and cheapest platform in the cryptocurrency space, each of the Lamas Finance games is a genuine Dapp: all computations are performed on the blockchain via smart contracts. Besides fascinating Dapp games, in the future, Lamas Finance will also provide developers with tools for building other Dapp games and deploying them on our website.
GameFi, the intersection of decentralized finance and the gaming industry, has garnered widespread public interest. The years 2021 & 2022 has already witnessed the launch of numerous GameFi projects. These games share several similar characteristics, including the use of NFT to represent in-game items or crypto as an in-game currency. However, the majority of them still require a private server to execute the logic as well as to archive records and calculations generated throughout the gaming process. This has prevented them from becoming truly decentralized. Consequently, the beneficial properties of blockchain, such as decentralization, transparency and security, remain underutilized. Additionally, the total cost of each transaction is significantly raised because of the extremely high gas fee of the Ethereum blockchain, which is the platform of many of these Dapps.
Accordingly, the core mission of Lamas Finance is to provide users with a real blockchain gaming experience and the opportunity to make a profit from many DeFi’s key functions. Developed on Solana - one of the fastest and cheapest platforms in the cryptocurrency space, each of the Lamas Finance games is a genuine Dapp: all computations are performed on the blockchain via smart contracts. With its massive liquidity and variety of features, Lamas Finance is expected to be capable of accommodating a large number of user requests as well as providing users with an enjoyable experience.
Moreover, in the future, Lamas Finance has the orientation to become a Dapp games hub on Solana. That relies on the attractive Dapp games and features available, along with useful development tools available to other developers. From there, anyone can develop true Dapp games and deploy them on Lamas Finance's website.
The platform offers a number of functions, including games, NFT collections, and yield farming. LMF, the native utility token of Lamas, is utilized for a multitude of reasons, including game participation, NFT exchange, staking, and yield farming.
Currently, Lamas Finance provides its players four games: Price Prediction, Up or Down, Jackpot Lottery, and Lucky Spinner. The first two are guessing games involving the price of an asset, with payouts proportionate to the players’ forecasting accuracy. While Price Prediction requires players to provide an exact figure, Up or Down enables users to wager on market movements in one of the two directions. The other two games are dependent on luck. In Jackpot Lottery, users have a daily chance to win a jackpot if their tickets match the randomly drawn numbers. In Lucky Spinner, users can win multiples of their stake through random spins at any time of their choosing.
Along with LMF tokens, participants in the games may acquire NFT pieces. Fantastic prizes are awarded to users for completing the NFT collections. In order to accelerate their progress, users may trade NFT on the Lamas Marketplace.
There are 4 NFT collections, one for each game. Each collection is represented by a single picture that has been divided into 6 different pieces. Each piece is available in 3 different versions corresponding to rarity ratings of 1, 2, or 3 stars (an NFT piece with 3 stars is uncommon). Each week, we will choose a “theme-of-the-week collection” (theme) at random. Players who own a full collection (6 different NFT pieces of the same collection and of the same rarity) of the theme will have the choice to redeem it for a valuable reward.
LMF token holders can participate in staking on the Lamas Finance platform with a high APY. In doing so, users can earn interest and avoid paying up to 50% of gaming taxes with the addition of being granted governance rights. Furthermore, they can make additional revenue through yield farming.
LMF, the native utility token of the Lamas Finance platform, is used for rewarding users and is utilized in all of the system’s features. LMF token holders will enjoy many benefits such as rewards from staking and farming programs, reducing taxes when playing games, and participating in project management.
Lamas Treasury is a reward pool designed to reward users for playing games, collecting NFTs, and most notably partaking in Lamas Finance's DeFi functions like staking and farming. It is sustainably structured and efficient to guarantee a consistent supply of LMF tokens (zero inflationary) while also maintaining a high level of incentive for LMF holders and users partaking in Lamas Finance services.
Lamas Treasury will be initialized with 25% of the total LMF token supply. After that, the treasury will be maintained by the following sources of the avenue:
- Taxes collected from games.
- Taxes on NFT transactions on Lamas market.
The Lamas Foundation Team will adjust the rewards for NFT redemption, staking, and farming such that no more than 10% of the Lamas Treasury is used to award users each month. The monthly revenue will compensate for this expense.
Lamas Finance's money flow structure is presented in the below chart:
When participating in the games, users interact with the Ecosystem Pool (1). If they win, their profit will be taxed. This tax will be divided into 2 parts: burned (2) or remitted to Lamas Treasury (3).
In addition, NFT pieces collected during gaming can be traded, with 5% of the transaction value deducted for tax payment. This tax will be divided into 2 parts: burned (4) or remitted to Lamas Treasury (5).
Finally, Lamas Treasury will award prizes to users who redeem complete NFT collections (6) and interest to stakers and farmers (7).
For more detail about the project, please refer to our documents:
- Whitepaper: https://www.lamas.co/pdf/Whitepaper%202.1.pdf
- Guide: https://docs.lamas.co/
- Pitch deck: https://www.lamas.co/pdf/Pitch%20deck%204.0.pdf
- Official website: https://www.lamas.co/
- Testnet website (connect wallet via Solana devnet to test): https://testnet.lamas.co/