[50,000 iDNA reward] Run Idena prediction market on the FIFA World Cup Qatar 2022
We announce a 50,000 iDNA reward for a team or a person who runs a prediction market on the final match of the FIFA World Cup 2022 using the OracleVoting and RefundableOracleLock smart contracts in IDENA blockchain.
Challenge Description
In this challenge, we would like to see that your website or application can do the following:
- Allow users to deposit their bets on the final match of FIFA World Cup Qatar 2022
- Authenticate users with the Idena app (recommended)
The following steps are expected to be made:
Step 1: Once the FIFA World Cup finalists are known (December, 17), an OracleVoting should be immediately created. OracleVoting is to confirm the winner after the end of the final match (fact certification voting)
Parameters of the OracleVoting:
– Title: Who won FIFA World Cup 2022?
– Voting options 1 and 2: names of the finalists teams
– Launch date: December, 19 (time after the final match is finished and winner is publicly known)
– Majority threshold: 51%
– Voting deposit: 100 iDNA
– Quorum: 1%
– Committee size: the whole network
– Owner fee: 0%
Owner deposit of 5,000 iDNA should be deposited before the Step 3
Step 2: Two competing RefundableOracleLock contracts are to be created
Parameters of RefundableOracleLock contracts:
– Oracle voting: the address of the fact certification OracleVoting contract (see Step 1). Both RefundableOracleLock contracts will be unlocked only when a winner is revealed in the fact certification OracleVoting contract.
– Value = 0 — option number for the first RefundableOracleLock contract
– Value = 1 — option number for the second RefundableOracleLock contract
– Success address should be empty. Thus, the winners’ deposits will remain on the RefundableOracleLock contract and they will receive their bets back (as a refund). In addition, they will receive bets sent from the losing contract.
– Fail address should be set as the address of the competing RefundableOracleLock contract. Thus, in the event of a loss, all bets will be sent to a competing contract.
– Refund delay = 4320–24 hours to send the reward from the losing contract
– Deposit deadline = 15:00 UTC December 18 — deadline for accepting bets. Deposits should be closed before the final match is started.
– Oracle voting fee = 0%
Step 3: Provide a website where users can place their bets (by calling the Deposit method for the specific RefundableOracleLock) from their Idena wallets (sign-in with Idena function is highly recommended to determine the user’s address).
See the flowchart that represents the prediction market flow (interactions between RefundableOracleLock and Oracle voting smart contracts) during the FIFA World Cup 2022:
Step 4: Be creative to promote your website (e.g social media, Idena ads).
Extended features of your website are very welcomed:
- Allow users creating new binary prediction markets (with 2 outcomes)
- Show a list of running prediction markets
Submission Requirements
- All code must be open source
- Please let us know if you would like to participate by sending an email to info@idena.io
Judging Criteria
- The number of validated identities that placed bets. At least 10 validated identities are required. Identities delegated to the same pool are counted as one.
- If there are several competing teams that have successfully completed all of the above steps, then the winning team will be determined by an Oracle vote.
Resources
- https://docs.idena.io/docs/developer/desktop/sign-in/ — Sign-in with Idena protocol specification
- https://docs.idena.io/docs/developer/node/smart-contracts — general information about smart contracts
- https://docs.idena.io/docs/developer/node/refundable-oracle-lock — detailed specification on RefundableOracleLock smart contract
- https://github.com/idena-network/idena-sdk-js — Idena SDK for JS that we recommend to use for building transactions for Idena smart contracts (see example for the Multisig smart contract and try it here)
- http://rpc.idena.io — easy tool for calling Idena node RPC
