2020, the start of a bull-run that will never be forgotten. ETH was slowly picking up, and DeFi had its first glory. Besides the introduction of money-markets, and AMMs - giga chads max aped into a novel kind of protocols.

Those novel protocols incepted a smart contract call named advance() in order to kick-off a highly demanded so-called bootstrapping phase. Whoever was early enough to be part of that bootstrapping phase was able to secure millions of USDC.

Yes, we are talking about algorithmic stablecoins that followed the design of ESD (“Empty Set Dollar”) and its main competitor DSD (“Dynamic Set Dollar”). Besides ultimately not being able to gain stability through a coupon system, these protocols implemented a few mechanisms that played out extremely well.

Were ESD and DSD the pioneers of the GambleFi we know today?

After ESD and DSD had their run, it only took a few months until a new protocol overtook the attention of the entire DeFi space - bonding and the (3,3) meme was born. OlympusDAO is the new kid on the block saying hi to degens across the space.

All those projects mentioned above managed to create innovative incentive mechanisms that caused immense organic growth, some of them that died at the end, and some of them that proved to be economically highly successful.

Looking at today’s crypto space, a new narrative called GambleFi has caught massive attention with projects such as Rollbit proving exceptional demand generating astronomic revenues. Today’s GambleFi protocols are mostly traditional casinos and perpetual exchanges offering extremely high leverage on-chain.

The big question is: Can a new paradigm be created by natively implementing some of the proven mechanisms and design choices by ESD, DSD and OlympusDAO with the GambleFi we know today?

We cannot predict the future, but we created economic flywheels that are round as fuck. Welcome to Lucky8.

Stay tuned - the clock is ticking: ETA in ████