The inspiration for DeSocttery originated from people's enthusiasm for sports. During 2019 WBSC Premier 12, cheers and yells kept coming from other office as we developing DeFi. Also, majority of our friends and colleagues were buying sports lottery to bet on winners of each night. A though occurs to us that "How about building a decentralized sports lottery?". With Chainlink Oracle and Honeycomb API, all of our ideas became realistic. Thus, we dedicated ourselves to design complete structure and D.A.O. ecosystem, wishing to provide sports fans with a decentralized platform to show their passion and love for favorite sports team.
What it does
DeSocttery allows sports fans to predict result of certain soccer game by wagering DAI into betting, which is decentralized that the odds are determined by wagers people put into.
How we built it
A smart contract that receives DAI would be triggered to mint and send back corresponded ERC20 token as certificate of option and amount wagered. Once game ended, Honeycomb API would be called to input result of game into smart contract. Thereupon, total stakes would be put together and allow those who correctly predicted to collect winnings by sending back certificate token.
Challenges we ran into
The outline and future roadmap of DeSocttery shown in our slide, including D.A.O. and DST Token is a picture of how it would be when the project itself reach the last phase. Therefore in the hackathon we will only present the proof of concept by demonstrating a single game.
Accomplishments that we're proud of
Different from traditional sports betting that the odds is determined by banker, the odds of DeSocttery are decided by market force, which is everyone that wagered, realizing the higher level of decentralization.
What we learned
We understand the real meaning and true essence of decentralization through constructing the D.A.O. and designing usage of DST Token.
What's next for DeSocttery
The DeSocttery platform itself is programed to be decentralized. With issuance of the DST Token to operate DeSocttery, the games to be released would be determined by all the DST Token holders, which is also decentralized.