- 🏆 DeFi Track on the OEC: BUIDL IN METAFORCE Hackathon
What is OKTOdds? 💎
OKTOdds = OKT ➕ Odds
💎 OKTOdds is an on-chain solution where users can do sports betting. It focuses on pure fun and games with technology via smart contracts without loot boxes, honeypots or annoying micro transactions.
💰 There are a lot of online casinos and sports betting sites where users can bet in fiat currency or in other crypto currencies. However, there are countries where online gambling is forbidden or highly regulated. Such as it happens in some religious groups. Odds on betting sites are based on two three factors: secret formula of sites based on sport statistics, the ratio of users wagers, and the bookmaker overround. There is nothing bad about it, those sites are profit oriented entities. Unfortunately, they turn sports betting from fun into a depressing and addictive thing. We would like to make an infrastructure inversion and use smart contracts to give back the freedom of betting to the users.
🔗 The other major inspiration comes from the blockchain technology itself. We are two freelance developers who like to learn new things. Blockchain is a cutting edge technology with a wide range of possibilities and options.
What it does ❓
⚙ Users can create events or make bets. When the event ends, the result immediately comes from a third party data provider. The smart contract divides the prize between the winners. Odds are evolving constantly before the end of the betting event. It is based on bets without any bookmaker overround. We worry about the mental health of users. That’s why we implemented the opportunity for suspending the accounts to avoid addiction.
Features already implemented:
🟩 create events | admin
🟩 get events by specific search | anyone
🟩 change or update event description | admin
🟩 close betting period of an event | admin, automated
🟩 finalize an event and divide prizes | admin, automated
🟩 request the addition of an event | user
🟩 register user | user
🟩 change the details of the user | user
🟩 suspend user | user
🟩 get user details by specific search | anyone
🟩 report a user | anyone
🟩 change user state | admin
🟩 place a bet | user
🟩 check balance | user
🟩 withdraw | user
🟩 get current event odds | anyone
How we built it 🔨
Challenges we ran into 💪
📐 The biggest challenge was learning the necessary things to code a fully working smart contract. The second challenge was really funny, because we cannot deploy the smart contract due to its size. It was huge. That was the time when we were enlightened: building blockchain solutions needs a different mindset than we had had.
✂ As we mentioned earlier, we are freelance developers. Mostly we are building deep learning solutions, or deep learning related devops projects, but sometimes we have to code the integration part as well such as API or a basic user interface. We like to use the top-down development method. This usually ends with a robust solution that fits the most use-cases very well. However, the code can grow super fast. Mostly this is not a problem. And here is the twist: we learned, this is not true when we are working on a smart contract based solution. We had to shrink down the code based on two factors: it has to fit well into the blockchain while it provides the necessary services at the same time.
Accomplishments that we're proud of 😎
😎 We built this idea from scratch during the OEC: BUIDL IN METAFORCE Hackathon
😎 It has a fully working demo deployed on OKEx Testnet.
😎 We learned a lot about smart contracts and we got to know a new mindset. This last one is priceless.
What we learned 📘
🧠 As we mentioned above, we learned how to think differently. We really like to run hackathons, since there are knowledge-fragments that can be learned on these competitions really fast. After the hackathons, we can build on these experiences.
🏗 We learned how to develop an idea based on smart contracts from scratch.
📝 Of course, we learned how to code and deploy smart contracts.
What's next for OKTOdds ⏱
We want to turn our idea into a prospering service. There are some community and general features that we definitely want to integrate into our solution:
🔷 donating: Winner users can donate their prize or its part to the winning sports club or team. This helps clubs and teams to collect more money. We know, there is a lot of money in sports, but this statement is right when we talk about the famous and top clubs. Clubs in lower leagues suffer from the lack of available resources.
🔷 personalization: Users can use unique skins for the website based on the color of their own favourite team. 👕
🔷 avatars: Users can create virtual avatars on our website.
🔷 better and cooler user interface: The website works in demo mode at the moment. We want to add cooler skins.
We have the necessary technical skills to build this idea further and better.