Inspiration

Bring Security To DeFi and Revolutionize Crypto-Gambling: binomialpool.finance is an unruggable liquidity pool. Unruggable means that the system remains secure even if the core developers were corrupted. Therefore, BinomialPool is built for yield farmers who are sick of the frauds in the current DeFi-ecosystem. BinomialPool was initially running on Binance Smart Chain, but we are expanding it to the Celo chain.

What it does

BinomialPool provides the following services:

  • For gamblers: Place provably fair bets with a 0.8% house edge.
  • For yield farmers: Earn the house edge with a much lower risk than typical DeFi-investments.
  • Both yield farmers and gamblers participate in the BINGOV-airdrop.
  • Additionally, yield farmers earn a 0.5% withdrawal-fee if other yield farmers are withdrawing their deposits.

How we built it

Unlike many other dapps, you can use BinomialPool directly from your wallet without any website. This provides an enhanced security and wallet-compatibility. Nevertheless, we plan to build a growing suite of UI-applications on top of BinomialPool.

Challenges we ran into

Eliminating all potential smart-contract-vulnerabilities

Accomplishments that we're proud of

Being decentralized from day 1

What we learned

  • Improved smart contract coding skills
  • More engagement with the broader DeFi-community

What's next for BinomialPool

  • Get the Celo-implementation security-audited
  • Launch a V2 that works with stablecoins
  • Launch an optional web-frontend
  • Expand the team

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