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FARE Protocol
FARE is a token used for gambling in on-chain casinos via the FAREVault smart contract. Lost wagers are burned, and winnings are minted. Due to a built-in "house edge," the token is probabilistically deflationary, making FARE holders the effective "house." Developers can permissionlessly deploy their own casinos on the protocol.
Distributed
Description
FARE Protocol enables the deployment of permissionless and trustless on-chain casinos. It utilizes the FARE token, which users can gamble with via the FAREVault smart contract. When a user loses a wager, their FARE is burned; when they win, new FARE is minted. The smart contract is designed with a negative expected value for users (a "house edge"), resulting in more tokens being burned than minted over time. This makes FARE a probabilistically deflationary token, where the token holders effectively become the "house." Developers are able to build their own FARE casinos on top of the FAREVault smart contract without requiring a bankroll.Grant Funding
VC Funding
None
2023
$0
$6.2M