iBetYou — getting started with your first bet
Step 1 — Installing MetaMask
Visit https://metamask.io/ and click “Download now”. (Figure 1)
Next, click on “Install MetaMask for Brave” (Brave browser is being used in this example so your text might differ). MetaMask will then be added to your browser as a plugin.
Step 2 — Adding Ether to your account
There are many ways to add Ether to your account. Consider buying it on https://www.coinbase.com/ or exchange it for some other currency on https://uniswap.org/and then transferring it to your account.
Step 3 — Adding Matic Mainnet RPC to MetaMask
Open MetaMask plugin networks menu and click on “Custom RPC” (Figure 3). Fill in the details below (Figure 4)
Network Name: Matic Mainnet
New RPC URL: https://rpc-mainnet.maticvigil.com/
Chain ID: 137
Currency Symbol: MATIC
Block Explorer URL: https://explorer.matic.network/
After you filled out fields (Figure 4) click on “Save”. Matic network is now added to your Networks list.
Step 4 — Transferring Ether from Mainnet to Matic
Exchange some Ether to Matic Token (Polygon) by using one of the Decentralized Exchanges like Uniswap (https://uniswap.org/) or Curve (https://www.curve.fi/).
If you need to import Matic Token address to make an exchange, its address is 0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0.
Visit https://wallet.matic.network/ and click “Move funds to Matic Mainnet” (Figure 5).
Make sure that Matic Token is selected (Figure 6).
Click “Transfer” and approve MetaMask transaction. Your funds will be transferred to Matic Mainnet after the transaction has been mined.
Step 5 — Creating a new bet
Visit iBetYou (https://ibetyou.me/)
Click on the “Connect wallet” button in the top right corner.
You’ll be prompted to pick your wallet. Select MetaMask.
After connecting your wallet, you’ll be taken to iBetYou dashboard. Here you can view details about your active, past bets and initiate new ones.
Initiate a new bet by clicking on the “Create bet” in the navigation menu or the “Create New Bet” button.
You’ll be met with the revamped process of placing a bet.
Enter the bet’s stake in Matic tokens, that you’ll opponent will need to lock the same amount of.
The bet conditions your opponent will bet against.
And finally, you can set the expiration date. You can choose if your bet has no expiration date (judges will be able to vote instantly) or add an expiration date (judges will need to wait until the date expires so they can start voting).
The next image will show what the properly filled-out bet can look like.
The example bet ends in a day, the number of Matic that’ll be locked in a bet is 5 and the conditions of the bet are successfully passed if the bettor completes 200 pushups in a day.
Once everything looks good, you can proceed with the bet by clicking the “confirm” button.
You’ll be prompted to do 2 transaction confirmations. The first one is for creating a bet, the second one is to appoint you as a bettor. They are done almost instantly thanks to the Polygon network!
You will be taken back to the dashboard where you will see your newly deployed bet with “Active” status.
Now that the bet has been successfully created, all that is left is to invite the counter-bettor and the judge!
We’ve simplified the process so you can invite the needed parties by forwarding the shortened link without needing to have their emails.
If your opponent decides to check the invitation they’ll be met with the following screen, where they can review the conditions of the bet.
After the opponent accepts the bet they’ll need to appoint their judge.
When all parties accept their invitations and expiration time runs out bets status will change to “Pending” and judges will be available to vote. All funds from the bet will be converted to interest-bearing tokens via QuickSwap.
Judges can vote by clicking on “Vote”.
After all, judges have voted, the winner is decided, interest bearing tokens are exchanged back to Matic Tokens, and bets status will change to “Claim”.
By clicking the “Claim” button winner receives a bet stake to their address. If any yield was earned during holding interest-bearing tokens, it will be split between judges and IBY. That means that judges will also be able to click “Claim” and get their share.
That’s it folks! I bet you it wasn’t that hard :)
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