How Will LuckyStrike Work On Metastrike?

There will be two separate game modes on Metastrike platform:

i) Main Gameplay (Metastrike): Players are actively participating in actual games of Metastrike, where they compete against each other or as part of teams. The primary goal is to win the game by eliminating opponents, completing objectives, or achieving high scores.

ii) iGaming Gameplay (Luckystrike): Alongside the main gameplay, some players may choose to engage in the iGaming version - Luckystrike. The identities of actual teams and players will be hidden in some Luckystrike games to prevent the possibility of match fixing.These bets can take various forms which will be explained later, and they often revolve around specific events or outcomes within the main game.

House (Liquidity Pool): There will be LPs which serve as the “house”. LPs on Luckystrike work similarly to LPs in most Defi platforms, where users can join the house by providing assets to facilitate various iGaming gameplays within the Metastrike ecosystem. These pools are typically governed by smart contracts and aim to ensure that there is sufficient liquidity to support bets, payouts, and other transactions.

Here's a step-by-step explanation of how the liquidity pools operate within Luckystrike:

1. Liquidity Providers (LPs): Users who want to participate as liquidity providers deposit their chosen cryptocurrencies or tokens into a liquidity pool smart contract. These LPs essentially become liquidity providers for the house.

2. Smart Contracts: Smart contracts govern the operation of the liquidity pool. These contracts are designed to execute predefined rules and functions automatically. In the context here, smart contracts handle tasks such as accepting bets, determining winners, and distributing payouts.

3. Pool Balances: The smart contract maintains a record of the assets contributed by liquidity providers. The pool balance consists of various cryptocurrencies or tokens that users have added to the pool. This balance serves as the "liquidity" available for iGaming activities.

4. Betting (Stakes): Users who wish to place bets send their stakes to the relevant smart contract. The smart contract checks the available liquidity in the pool and verifies the validity of the bet.

5. Determining Winners: Once a betting round is complete, the smart contract determines the winners and calculates the payout amounts. This is done transparently using predefined rules and algorithms.

6. Payouts: The smart contract automatically distributes payouts to winning users from the liquidity pool balance. Payouts are proportionate to the size of the bets and the odds.

7. Fees and Rewards: Liquidity providers may also earn rewards or a share of the fees for providing liquidity to the pool. These rewards are distributed automatically by the smart contract.

8. Liquidity Management: Liquidity pools must be managed to ensure that there is sufficient liquidity to cover all bets and payouts. If the pool balance becomes too low, LPs may be incentivized to add more assets to the pool to maintain adequate liquidity.

9. Traceability and Transparency: The transparency ensures that all transactions within the liquidity pool, including bets, payouts, and rewards, are publicly recorded on blockchain and can be traced by anyone interested.

10. Decentralization: There is no central authority controlling the pool, and decisions are made by smart contracts and consensus among users.

In summary, liquidity pools on Luckystrike function as a decentralized and transparent means of providing liquidity for the iGaming activities. Smart contracts automate the betting and payout processes, ensuring fairness and transparency, while liquidity providers contribute assets to the pool and may receive rewards for their participation. This approach enhances trust, security, and efficiency in the Metastrike’s ecosystem.