We created a gambling protocol owned by players, where profit stays within the player community

Hi everyone, I wanted to share a project that myself and a few others have been working on the past couple months. It an open-source and decentralized gambling protocol, called Sigma Squared. It's built on the Polygon blockchain (a L2 EVM chain).

The project consists of game smart contracts, a DAO, and an ERC20 token (SIGMA2) which serves as voting interests in the DAO. Users place bets by interacting with the on-chain game contracts. All the game contracts are owned by the DAO. This means the DAO controls all game/risk parameters, and owns any house profit that arises from games with positive house edge. Chainlink VRF is used as a randomness source to settle bets.

The initial game contracts allow you to bet on a Bernoulli random variable (specify a multiplier and an amount) or enter a Lottery. There's a simple web front-end to facilitate this smart contract interaction. This is very much a starting point. Right now you can bet on a coin flip, bet on poker hands, or enter a lottery. All that's needed to play is a Polygon wallet. It's non-custodial and you can bet using SIGMA2, MATIC, or USDC. There's a 0% house edge for SIGMA2 bets, and a small house edge for MATIC and USDC bets (that's set by the DAO). Check out the web app to learn more.

To ensure the entire ecosystem is actually player owned, 90% of the initial SIGMA2 tokens are locked in rewards contracts and will be continually distributed to players over the course of the first year. Read the documentation for exact details of this.

All the code is open-source and any contributions or technical suggestions are welcome, if anyone is looking to get involved in a new web3 project.

Any feedback is very much appreciated. Check out the website, read the documentation, and look at the code. You can use the Polygon testnet (Mumbai) to test out the dApp instead of using real funds also.

https://sigmasquared.bet/

https://docs.sigmasquared.bet/

https://play.sigmasquared.bet/

https://github.com/sigma-squared-dapp/sigma-squared-core