[IMPACT]
The goal is to provide high quality oracle data for resolving prediction smart contracts. We will use this for our ALLIN betting app but the technology can be applied to many types of smart contracts and application use cases.
Token holders will be able to earn income for verification and gain monetizable expertise recognition and reputation by providing correct and timely results for events.
When an event completes, token holders will have the opportunity to stake an amount of tokens with their provided result.
Once a minimum multiple of the value of the smart contract has been staked. The AI system will then determine the result based on the amount staked, reputation of the staker and consistency of data.
There will then be a settlement period during which participants in the smart contract can appeal the pending result.
If there is not an appeal, the smart contract is resolved with the pending result which is now finalized.
If there is an appeal, then token holders who have sufficient domain expertise and reputation can then stake their tokens with the result.
Once an appropriate amount is staked, the AI will finalize the result.
Research into the incentives, disincentives, fees, and specific rules will be done to provide an economically viable system that is not easy to subvert.
Funding the ALLIN Oracle Data AI proposal will provide a valuable resource to the community as a whole, which can be used by many projects building on Cardano. This open source project and the knowledge developed can empower many different innovative applications using Plutus smart contracts.
The biggest challenge will be acquiring enough data to build successful models.
We plan on building up our own datasets over time but it may be possible to partner with other oracle service providers to accelerate this process.
[FEASIBILITY]
Success Metrics
3 months - Publication of refined system specification.
6 months - Revised smart contracts available for testing and integration.
12 months - Audit ready version of smart contracts.
Specification and development of alpha version.
Ask - $18,000
Research, Design, Specification - $6,000
1 Researcher @ $1,000 per month for 6 months
Development - $8,000
2 Devs @ $1,000 per month for 4 months
Community Management - $2,000
Includes bootstrapping costs and incentives
Infrastructure and Data Services - $2,000
Includes hosting and SingularityNET related costs.
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]
We’ll breakdown the project in 2 week sprints. Every person is tasked with doing a certain amount of work within those two weeks.
Completion of a viable AI based system for evaluating crowdsourced oracle data to arrive at timely resolution of prediction smart contracts.
Our goals for this funding round are:
- Refine specification of algorithms, incentives and processes involved based on feedback and testing of initial system implementation.
- Continued development of Plutus smart contracts.
- Creation of open source community for the project, including public github repository and community discussion channels such as Discord or Telegram.
We are aiming for a Q4 2022 availability.
This is a continuation of ongoing work funded in Catalyst Fund7.