RISK, a newly introduced standard, has emerged as a decentralized platform enabling users to stake and bet any ERC20 token on various supported blockchains. The platform introduces the concept of a "Casino Factory," where participants can stake their ERC20 tokens and receive a portion of the earnings from the corresponding "house pool."
The house pool represents a collection of funds and logic specifically designed for facilitating staking and wagering activities. Owners of a particular token's house pool are entitled to a share of the pool's earnings.
How it's made
RISK utilizes a series of smart contracts, namely the "House Router," "House Pool," "House Factory," and "Modular Betting" contracts, to facilitate its operations. The House Router contract initializes the House Pool contracts through the House Factory contract. When a user places a bet on the platform, the Modular Betting contract interacts with the House Router contract to direct the bet to the appropriate House Pool contract associated with the token being bet on.
The House Factory contract is responsible for generating new House Pool contracts whenever new tokens are added to the platform. This ensures that the platform can support staking and betting on any ERC20 token across multiple supported blockchains.
The Modular Betting contract serves as a reusable contract that enables easy integration of different betting mechanisms and game types. It handles the placement of bets and the distribution of payouts to users.
In summary, RISK and its Casino Factory introduce a decentralized and trustless platform where users can stake and bet on any ERC20 token across various supported blockchains. The implementation of smart contracts ensures the platform's security and fairness.