Technical details

Under-the-hood details for those who want to understand exactly how Freebie works at a technical level.

Platform

Freebie is built on Solana, a high-performance blockchain. All deposits, withdrawals, and draws happen on-chain via a smart contract (program). This means every action is transparent and publicly verifiable.

Where your returns come from

Deposits are routed to Kamino Finance, a Solana-based lending protocol. Kamino deploys the capital into lending strategies backed by US Treasuries, government bonds issued by the United States, widely considered the safest asset in the world.

Why US Treasuries? The US government has never defaulted on its debt in over 200 years. Banks, pension funds, and sovereign wealth funds all rely on Treasuries as their foundation. The returns Freebie generates come from the same underlying asset, making the yield stable, predictable, and low-risk.

The yield from these positions flows back to the Freebie protocol and accumulates in the prize pool. The protocol takes a small fee (defined in the smart contract) before the rest enters the prize pool.

Your deposited principal stays in the vault and is designed to always be redeemable. Only the yield is used for prizes. Your deposit is never at risk from the prize mechanism itself.

Randomness & fairness

Winner selection uses Switchboard, an independent oracle network. Switchboard provides a Verifiable Random Function (VRF), a cryptographic method that produces a random number along with a mathematical proof that it was generated correctly.

The process:

Freebie requests a random number from Switchboard
Switchboard's independent oracle network generates the number
The number and its mathematical proof are published publicly
Anyone can verify the proof to confirm the number wasn't tampered with

This means neither the Freebie team nor Switchboard can manipulate which chance wins. The randomness is provably fair and independently verifiable by anyone. See Fairness & verification for a plain-language walkthrough.

Risks & disclaimers

Freebie is designed so your deposit never enters the prize pool, but no system is risk-free. You should understand the risks before depositing.

Smart contract risk

Bugs in the Freebie smart contract could potentially affect deposits. The contracts are open source and available for inspection on GitHub.

Yield source risk

Deposits are routed through Kamino Finance. A failure or exploit in Kamino could affect the underlying capital. Kamino is a well-established Solana protocol, but risk remains.

Stablecoin risk

USDC is a stablecoin pegged to the US dollar. In the unlikely event of a depeg, the dollar value of your deposit could change.

Opportunity cost

By depositing in Freebie, you forgo the interest you could earn elsewhere (e.g., savings accounts, other investments). This is the core trade-off.

Regulatory notice

For important legal and regulatory information, see the full Regulatory notice page.

Source code

Everything is open source (repos will be public at launch):

Smart contract: Gopher-Tech/freebie.fun-core
Web app: Gopher-Tech/freebie.fun-web