[IMPACT]
Create the best atmosphere and most options to wager on but in a way that is more fair and gives the profits and governance to the token holders. By engaging the community, we can create a realistic plan to assist bettors with addiction issues and encourage a more knowledgeable and friendly environment.
The ALLIN Betting DAO and ecosystem are built on 2 tokens: The ALLIN token and the ALLIN Stable token.
The ALLIN token is used within the betting ecosystem for bets, services, and NFTs. It is also the governance token and represents your share in operating profits.
The ALLIN Stable token is pegged to fiat currency such as the US Dollar or Euro. You can use this token to make bets so that you separate your betting results from the volatility of the crypto markets. The ALLIN Stable token does not receive a share of operating profits and has no voting rights.
Bet Types
Blockchain technology allows us to provide two bet types that eliminate the middlemen and make betting more fair. They are Bet-vs-Chain (BvC) and Person-to-Person (P2P). With either bet type, every bet and transaction is recorded on the blockchain for transparency and auditability to make sure there is no foul play.
Bet-vs-Chain - You can place a bet similar to a sportsbook or casino but instead of betting the centralized house / bank you are betting against the treasury held on the blockchain. In this way, ALLIN token holders act as the owners of a decentralized house / bank.
Person-to-Person - You can place a bet controlling the subject, odds and terms through blockchain smart contracts and have another person accept that bet with no middleman.
Game Types
Casino Games - You can play online casino and card games with trust and transparency that the outcomes are fair through the use of blockchain technology.
Sports Betting - You can place bets on your favorite teams and players in a variety of sports..
Pools - You can start a pool with friends/co-workers or join a pool with people from around the world in a variety of pool types across all sports and other subjects that use smart contracts to validate results. Some examples are survivor pools, bracket pools, Pick’em tournaments, celebrity pools, etc.
Esports/Video Games - You can bet on professional esports teams or you can play someone in your favorite video game, card game or other games.
Sports Index NFTs/Tokens - It’s the stock market for the sports world. Replace companies with players or teams. Trade team/player performance tokens that create an algorithmic score or rating based on many different factors (stats, salary, media/popularity, etc.) that is unique to a specific sport. These performance ratings generate dividends for token holders. It’s a free and open market to trade these tokens where the price will be based on supply and demand.
Fantasy Sports - You can start a league with friends/co-workers or join a league with people from around the world in a variety of fantasy types across a variety of sports. Some examples are daily fantasy, season-long leagues, keeper leagues, playoff leagues, etc.
Prediction Markets - Place bets on pop culture and political events.
DeFi - We are exploring possibilities that will allow new ways to earn yield from your sports knowledge, including sports based liquidity pools.
By putting the token holders at the forefront with profit sharing and governance, paired with the most betting options, we will show the betting community that we are the best place for making wagers, sharing knowledge, limiting addiction risks, and being part of a positive community. This will attract many new people to the Cardano ecosystem, many of them outside of the existing crypto community.
Our biggest challenge will be the cost and complexity of regulatory compliance and licensing.
We believe that once we complete the MVP to prove the Bet vs Chain model, we will be able to find private or crowdsourced funding from people that share our values and the ALLIN vision, with which we can address licensing and regulatory compliance and accelerate software development.
[FEASIBILITY]
Development is currently underway.
Our goals for this funding round are:
Backend - Completion of the backend models and APIs for Bet-vs-Chain (BvC) casino games and player and funds management.
Frontend - Development of the frontend web application with BvC casino games and player and funds management, including crypto wallet integration.
Design - Initial UI / UX designs for MVP functionality.
Smart Contracts - Creation of smart contracts for BvC casino games.
We plan on delivering web and mobile applications for Windows / Linux / Mac / Android / iOS with the same functionality, using React and React Native. The React web application is the target platform for this funding round.
Milestones Achieved
Backend models and APIs specified and implemented for user management and basic bet offering and accepting.
Initial frontend architecture developed.
Plutus Pioneer participation.
Recruited CEO with substantial experience in the gambling industry and entrepreneurship.
Initial work on wallet integration.
Some research into scaling solutions.
25% of MVP work completed with over 1000 hours of sweat equity.
Funding to progress towards MVP launch.
Ask - $71,500
Design - $4,000
Initial design work - $2,000
Incremental design work - 2x $1,000
Backend - $22,500
1.5 devs @ $2,500 per month for 6 months
Smart Contracts - $22,500
1.5 devs @ $2,500 per month for 6 months
Frontend - $15,000
1 dev @ $2,500 per month for 6 months
DevOps and Infrastructure Services - $4,500
$500 per month for months 1-3
$1,000 per month for months 4-6
Oracles, API and Data Services - $2,000
Includes oracle and API signup and usage fees during development.
Management Overhead - $3,000
$500 per month for 6 months
Legal - $8,000
Legal and regulatory advice.
Global team of developers and professionals with experience in app development, DevOps, FinTech, blockchain, and the gambling industry from the United States, Canada, UK, Ireland, Brazil and India.
We have deep knowledge and skill in developing high quality software from working at companies ranging from startups to large enterprises including game, fintech and blockchain innovators. Multiple team members have participated in the Plutus Pioneers classes. Our team includes Cardano stakepool operators, longtime supporters of the ecosystem, and authorship of multiple Cardano Improvement Proposals (CIPs).
Marc Butterly - CEO - Ireland - Entrepreneur, Pioneer & Multiple Patent Holder in Online Sports Betting
https://www.linkedin.com/in/marc-butterly-303117/
https://twitter.com/marcbutterly
Shawn McMurdo - CTO - USA - Software Architect and Developer with Fintech and Blockchain experience. Author of multiple Cardano Improvement Proposals, Cardano Stake Pool Operator
https://www.linkedin.com/in/shawn-mcmurdo-957217a/
https://twitter.com/shawn_mcmurdo
Ryan Sweeney - CMO - Canada - Entrepreneur, Marketing, ADAO Member
Nathan Evans - CIO - UK - Experienced DevOps and Security professional, DeFi expert, Cardano Stake Pool Operator
Gledsley - Product Manager - Canada
Sebastiaan - Software Architect and Frontend Dev - Netherlands
Gustavo - Backend Dev - Brazil
Kyle - Backend and Smart Contract Dev - USA
Vadiraj - Backend and Smart Contract Dev - India
[AUDITABILITY]
Success Metrics
In 3 Months
Frontend prototype.
Initial implementation of MVP functionality of backend.
Initial implementation of smart contracts.
Alpha version available for testing.
1,000 Social Media Followers (Twitter, Facebook, etc.).
100 community members (Discord, Telegram, etc.).
In 6 Months
MVP Web Beta Available.
100 Beta Testers.
2,000 Social Media Followers (Twitter, Facebook, etc.).
200 community members (Discord, Telegram, etc.).
In 12 Months
Web and Mobile Apps Available.
500 Registered Users.
500 Wallets holding ALLIN tokens.
1,000 Bets placed
5,000 Social Media Followers (Twitter, Facebook, etc.).
500 community members (Discord, Telegram, etc.).
This project has very high expectations and lofty goals that won’t come easy. There are many milestones along the way but breaking it down into short term and long term success we have:.
First, proving the Bet vs Chain software model is our primary short term goal. This will allow us to raise funds for licensing and regulatory compliance. The community first Bet vs Chain technology is what we believe can disrupt the betting industry.
Longer term, We will roll out other bet and game types that complement the Bet vs Chain model and gain traction with bettors as the best place to make a wager, earn profits and be part of a positive community.
Ultimately, we want to be competitive with the big name brands in the industry. As crypto becomes more mainstream and the technology continues to evolve, we see that building on Cardano, ALLIN can make the online betting world a better place.
ALLIN has submitted a proposal to this category before but has not received any funding. However, we were successful in the A.I. & SingularityNET category for our related Oracle Data AI proposal.