CoChillis take on $33M ZKasino GambleFi drama ๐ถ๏ธ
Some time ago,
@Zkasino_io announced a program in which anyone could lock
$ETH to farm their token -
$ZKAS, and afterwards were able to get
$ETH back on a 1:1 basis.
So what went wrong?
The ZKasino team, without informing users at all, decided to convert the
$ETH transferred from users into its
$ZKAS token. This resulted in investors losing their transferred
$ETH, and in return, they received a worthless token with a TGE of 5% and a 15-month vesting period. Like come on, bruh...
Security should be the top priority for every GambleFi protocol, to ensure the safety of users' funds.
At CoChilli games are fully permissionless and with NO access to your funds. The only person who can make withdrawals from the state channel is you, and you can do so whenever you want.
To prevent any manipulation in our first product, the 'price prediction market' we use the
@PythNetwork oracles. Thanks to their unique on-demand price update model, we are able to source accurate and tamper-proof asset prices for every single second and verify them on-chain.
Making us the most decentralized price prediction protocol on the market. Learn how we do it ๐
gitbook.cochilli.io
As a GambleFi project, we want to support all the users who lost their funds.
Keep an eye out for more updates tomorrow and stay safe, fam ๐ซก