Preparations for DELPHIBETS V1, released with Radix Babylon ⚙️
Babylon is within reach. This article gives you information on the staged release of the DELPHIBETS protocol and an exclusive sneak peek of DELPHIBETS V1, deployed with Radix Babylon.
Babylon & DELPHIBETS:
The DELPHIBETS Team is working hard to release DELPHIBETS V1 for Babylon. The UI is being fine-tuned and prototypes are being tested.
The Babylon update is a significant milestone for Radix, introducing native token functionality, atomic composability, and scalability enhancements. It empowers users to create and manage their own tokens, enables seamless interaction between decentralized applications, and improves the network’s performance during periods of high usage. Babylon also includes upgrades to the consensus protocol and features for decentralized community governance, enhancing the security and decision-making processes within the Radix ecosystem.
DELPHIBETS V1 (P2P Betting):
DELPHIBETS V1 will be released with Radix Babylon. Its initial functionality of peer-to-peer bets on Radix Altcoins will be extended to include pari-mutuel pool betting (V1.5).
The DELPHIBETS protocol P2P betting smart contract facilitates the creation of 1 vs. 1 bets without the need for a trusted third party. Just create a bet, set the odds, lock your wager, and match your competitor. A small fee of up to 1.5% is charged. The bet’s outcome is finalized using the oracle selected during the bet creation, and winners receive their payouts based on the specified odds. There will be no restrictions on deposits or withdrawals, and successful bettors can be assured due to smart contract triggered payouts.
The video below gives you an insight on the current UI of DELPHIBETS V1. Make sure to check it out!
DELPHIBETS V1.5 (Pool Bets with Fixed Odds):
· Uses a pari-mutuel betting system
· Bets are pooled together, and odds are set based on total wagers on each outcome
· Users are shown probable odds based on pooled amounts
· No need for a market maker — bettors are directly competing
· Winnings are evenly distributed to winning bettors
DELPHIBETS V2 (Pool Bets with Variable Odds):
· Implements an Uniswap-like Automated Market Maker (AMM) approach
· Outcome shares are minted, and bettors can redeem winning outcome shares
· Users can trade in and out of positions during the event
· Share price represents the market’s probability estimate
· Bets are pooled together and linked to yield possibilities for liquidity providers
· Liquidity can be added after market creation for deeper markets
DELPHIBETS V3 (DAO):
· Implementation of a Dezentralized Autonomous Organization (DAO)
· Decentralized ownership by voting on governance proposals
· DAO owner contribute, mediate or assist (e.g. validation of vaque bets)
Looking ahead, we are excited about the future of DELPHIBETS. We will continue to innovate, improve, and push the boundaries of decentralized prediction protocols. Our goal is to create a space that redefines the betting experience and fosters trust, transparency, and fairness.
The DELPHIBETS Team
