Prediction Outcome Verification

Detailed Plan

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 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, a pending result is determined to be the provided result with the most stake.

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, this 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.

Development Overview

We are using agile development practices and design specification is underway.

Our goals for this funding round are:

Design and specification of algorithms, incentives and processes involved in prediction outcome verification.

Development of Plutus smart contracts.

We will develop the smart contracts in a public github repository with open source licensing for use by other Cardano community projects.

We are aiming for a Q2 2022 launch for our initial release.

Success Metrics

3 months - Publication of POV system design overview.

6 months - Prototype smart contracts available for testing.

12 months - Release of version 1.0. Integration with at least one project.

Use of Funds

Specification and development of initial release.

Ask - $45,000

Design - $18,000

Development - $27,000

bookmarked!