EFUN: Web3 Prediction Games Protocol

What is EFUN

Friends, imagine this scenario: you have unique insights into the outcome of a sports match, a major election, or even the winner of a beauty contest. You don’t just want to make predictions in your mind—you want to join like-minded friends and, in a fair and transparent way, turn your predictions into a fun “game” with the chance to win some rewards. EFUN, officially eFun.tech, is a blockchain project dedicated to realizing this vision.

Simply put, EFUN is a Web3 prediction gaming platform (Web3 Prediction Games Protocol). It’s like a decentralized “prediction market” where everyone can make predictions on real-world events (such as sports matches, political elections, etc.). But unlike traditional bookmakers, EFUN is a peer-to-peer platform, meaning you’re not betting against the house, but making predictions directly with other participants.

Its core target users are those who enjoy making predictions, love sports, and want to participate in prediction games in a transparent and fair environment. A typical user flow might be: a user selects an event of interest, such as a football match, then predicts the outcome and stakes a certain amount of tokens. Other users can join in and make their own predictions. Once the result is out, smart contracts (you can think of these as “contracts” on the blockchain that automatically execute when conditions are met) will automatically distribute rewards to those who predicted correctly, according to preset rules.

Project Vision and Value Proposition

EFUN’s vision is to make prediction games not only fun and profitable, but also transparent, trustworthy, and irreversible. In traditional prediction markets, issues like lack of transparency and manipulation by centralized institutions are common. EFUN aims to solve these pain points through blockchain technology, allowing everyone to express their views and predictions in a fair environment.

Its value proposition is reflected in several aspects:

• Decentralization and Transparency: All predictions and results are recorded on the blockchain, open and transparent, and cannot be tampered with.
• Peer-to-peer Model: Users make predictions directly with each other, not through a centralized “house,” increasing fairness.
• Anonymity and Low Fees: The platform offers a fully anonymous prediction experience with low transaction fees.
• Ecosystem: EFUN is not just a prediction platform—it’s building an ecosystem around the sports industry, including NFT (non-fungible tokens, unique digital assets on the blockchain), e-commerce stores, and more, providing a richer experience for sports fans.

Compared to similar projects, EFUN emphasizes its position as a “pioneer” of prediction games in Web3 and the Metaverse (a virtual, immersive digital world), focusing on providing a convenient, transparent, and user-friendly peer-to-peer prediction competition platform.

Technical Features

The technical foundation of the EFUN project is blockchain technology, specifically built on the Binance Smart Chain (BSC). BSC is a high-performance blockchain platform known for its fast transaction speeds and relatively low fees.

Core technical features include:

• Smart Contracts: These are “automated protocols” on the blockchain. In EFUN, smart contracts manage the creation of predictions, locking of participant funds, verification of event results, and final reward distribution. Once the event result is determined, the smart contract executes automatically, ensuring fairness and justice without manual intervention.
• Decentralization: Running on BSC and using smart contracts, EFUN achieves decentralization, meaning no single central authority controls the platform, enhancing censorship resistance and security.
• Multi-currency Support: In addition to its native EFUN token, the platform supports other cryptocurrencies for predictions.
• Modular Technical Components: The EFUN team can provide modular technical components, and even white-label versions of prediction apps or middleware for other bookmakers, indicating scalability and flexibility in its technology.

Although the specific consensus mechanism is not detailed in available materials, as a BSC-based project, it likely uses BSC’s Proof of Staked Authority (PoSA) consensus mechanism—a hybrid of Proof of Stake and Proof of Authority, designed to improve transaction efficiency and network security.

Tokenomics

The core of the EFUN project is its native token, also called EFUN.

• Token Symbol: EFUN
• Issuing Chain: Binance Smart Chain (BSC)
• Token Utility:
  • Participate in Predictions: EFUN token holders can join various prediction activities on the platform and “Predict to Earn” by making accurate predictions.
  • Reward Distribution: Participants who predict correctly receive EFUN tokens or other supported cryptocurrencies as rewards.
  • Ecosystem Functions: The token may also be used in EFUN’s NFT ecosystem, e-commerce store, and other features.
• Total Supply and Circulation: According to self-reported data from the project, EFUN’s self-reported circulating supply is 382 million EFUN. Note that platforms like CoinMarketCap indicate this circulating supply has not been verified by their team.

Details on token allocation, unlocking schedules, inflation/burn mechanisms, etc., are not specified in currently available public information. For any cryptocurrency project, understanding these details is crucial for assessing long-term value.

Team, Governance, and Funding

There is no detailed public information about EFUN’s core team members, their backgrounds, or specific governance mechanisms. We know there is an “EFUN team” operating and developing the project, and they publish updates and announcements via Medium.

In blockchain projects, governance mechanisms usually refer to how token holders participate in project decision-making, such as voting on protocol upgrades or fee adjustments. There is currently no detailed description of EFUN’s specific governance model.

Similarly, details about the project’s treasury size, funding reserves (runway), and how funds are allocated for development and operations have not been disclosed. For a healthy blockchain project, transparent team information and fund management are key to building community trust.

Roadmap

Although a complete, timeline-style official roadmap document was not found, we can piece together some important historical milestones and future plans from EFUN’s updates and announcements on Medium:

• October 29, 2021: Published an article on what EFUN is and its role in Web3 and the Metaverse prediction games, with a whitepaper link.
• December 7, 2021: Announced partnership with LaunchBlock and planned IDO (Initial DEX Offering) on December 19.
• January 2022: Reddit discussions about EFUN’s Metaverse project, highlighting its P2P prediction, Metaverse, sports betting, and “Predict to Earn” features.
• January 30, 2023: Released a monthly project update, looking ahead to future development.
• February 5, 2023: Announced new feature development and the second batch of ambassador program, emphasizing long-term stable organic growth.
• March 22, 2023: Announced strategic partnership with UC Finance.
• Other Partnerships: Also partnered with projects like NFTciti and MEGAVERSE.
• Future Plans (inferred from current information): Continue developing new features, expanding the ecosystem, possibly including NFT ecosystem and e-commerce store, and seeking further strategic partnerships to broaden influence.

These updates show the project is actively developing and expanding its ecosystem, but a clear and detailed future roadmap would help the community better understand its direction.

Common Risk Reminders

It’s crucial to understand potential risks when participating in any blockchain project. For EFUN, possible risks include:

• Market Risk: Cryptocurrency markets are highly volatile. The price of EFUN tokens may fluctuate significantly due to market sentiment, macroeconomic factors, performance of competing projects, and more.
• Smart Contract Risk: While smart contracts aim to automate and ensure fairness, any code may have vulnerabilities. Security flaws in smart contracts could lead to loss of funds.
• Technical and Operational Risk: Project development may face technical challenges, and platform operations may encounter scalability or user experience issues.
• Regulatory Risk: Global regulations for cryptocurrencies and decentralized prediction platforms are unclear and constantly evolving. Future regulatory changes could negatively impact EFUN’s operations and token value.
• Liquidity Risk: If EFUN tokens have low trading volume, users may find it difficult to buy or sell tokens at desired prices.
• Information Transparency Risk: As mentioned, public information on the team, tokenomics details (such as allocation and unlocking), and fund usage is limited, increasing uncertainty for investors. CoinMarketCap’s unverified circulating supply is one example.

Please note: The above are common risk reminders and do not constitute investment advice. Always conduct thorough personal research and risk assessment before making any decisions.

Verification Checklist

If you want to further research the EFUN project, here are some official resources and tools you can consult:

• Official Website:https://efun.tech/
• DApp (Decentralized Application) Link:https://app.efun.tech/
• Whitepaper:https://docs.efun.tech/
• Twitter:https://twitter.com/efun_tech
• Medium:https://efun.medium.com/
• GitHub:https://github.com/efun-tech/efun-token (for checking code activity)
• Block Explorer: Since EFUN runs on BSC, you can use block explorers like BSCScan to search for the EFUN token contract address and view on-chain activity, holder distribution, and more.

Project Summary

EFUN is a decentralized prediction gaming platform built on Binance Smart Chain (BSC), aiming to provide users with a transparent, fair, peer-to-peer prediction experience through blockchain technology. It seeks to bring prediction games into Web3 and the Metaverse, allowing users to predict various events and earn rewards—“Predict to Earn.”

The project’s core strengths are its decentralization, transparency, peer-to-peer model, and low fees. It avoids the centralization pitfalls of traditional betting, using smart contracts to ensure fairness and automatic reward distribution.

However, information on EFUN’s team background, detailed tokenomics (such as token allocation and unlocking plans), and specific governance mechanisms is relatively limited in public sources. In addition, the inherent volatility of the crypto market, potential smart contract risks, and the ever-changing regulatory environment are all factors to watch.

Overall, EFUN offers an interesting Web3 application scenario—a decentralized prediction market. For those interested in prediction games and blockchain technology, it provides a platform to participate and experience. But like all emerging blockchain projects, it comes with certain risks and uncertainties.

Remember, all the above information is for reference and educational purposes only and does not constitute investment advice. Always conduct your own in-depth research (DYOR - Do Your Own Research) before making any decisions.