The origination story of IBY
The whole thing started entirely by accident. A set of fortunate accidents brought us to this moment. Were it not for all the bets I have lost with my wife and probably the only one I won (that she refused to acknowledge to this day) IBY wouldn’t happen. Were we not crazy enough to dive deep into blockchain, crypto and Defi instead of going the usual Corpo route this wouldn’t happen. If we haven’t met a few years ago on a BUIDL meetup in the middle of the crypto winter, IBY wouldn’t happen. All the wonderful people that helped us along the way most probably don’t even know how instrumental they were. For them, a casual conversation, an explanation of some weird concept, them telling us how something they build works, getting a small grant to confirm we are on the right path just as we were planning to quit. All of the little things that accrue through the last few years mattered and made us who we are today, and we will be eternally grateful to all of you.
Back to business. iBetYou was born as a series of brainstorms in the last few years and then intense coding sessions in the previous few months. It matured so much over the last 4 weeks that it’s almost surreal.
What initially started as a simple idea evolved into a complex product to help fix a lot of things in the space.
We see IBY as a healthy bridge and a playground between opposing communities to compete against each other. And that’s how we shaped it to be. One of the things that we observed is how serious space has become. Everyone takes themselves too seriously, and we wanted to soften that a little bit. iBetYou is a simple game that allows people to stake their tokens against someone else's opinion. The primary motivation behind it is not to win money to prove that you are right and that your opinion matters. We want to shape it to be a great tool to motivate community members or even the whole teams to bet on themselves. At the same time, we want to bring a dash of freshness. Crypto, Defi, all these metaverses are here because people played with code, ideas, concepts and didn’t take themselves too seriously in the old days. This brought some good and bad things simultaneously, and our mission is to emphasize the good parts.
Our mission is simple: create a fun game where you stake your tokens on your opinions against other peoples tokens and opinions and receive a financial reward (the pot) and a definite proof of who was right in the form of a beautiful NFT token minted to prove you were right for eternity.
More importantly, we want to build a customer-facing DeFi product that will attract thousands of people with simplicity, superior UX and well-engineered mechanics rewarding all the people in the value chain.
That’s why we decided to use Matic (Polygon) and Biconomy to achieve a gasless experience for the users bringing it as close to standard “app” experience. WalletConnect to reduce friction initially, Arkane Network and possibly Plasma Finance later to handle user onboarding. Pairing that with AAVE and QuickSwap to create the first yields on locked funds in the bets today and using Compound, Alpha Homorra, BentoBox one day in the future to secure yields for the other stakeholders in the bet (judges, DAO…).
We want IBY to be ultimately governed by the community; that’s why we are preparing to launch a DAO and initiate community governance as soon as possible. But like all good things, we need to start somewhere, so buckle up, the ride is just starting.
So.. what’s next? We are currently preparing our fundraising so we can build properly. The product is already on production (like Andre, we test in prod lol), testing internally and polishing for the public launch. Stay tuned for more news, join our TG or follow us on twitter and so happy to have met you.
Edi, Ines, Jakov, Marko and Luka
Important links 👇
🌎 Website: https://ibetyou.xyz
📱 Twitter: https://twitter.com/ibetyouxyz
📢 Telegram group: https://t.me/IBYXYZ
🔔 Telegram announcements: https://t.me/IBYAnnouncements
✨ Telegram marketing: https://t.me/IBYBeyound
📚 Medium: https://medium.com/@ibetyouxyz