Cryptocup Integrates Dai to Offer a Stable Prize Pool
Cryptocup, the successful prediction platform for sports, is bringing some certainty to their users by integrating Dai into their system. People can now make their predictions using Dai removing the volatility that comes with non-stablecoins, ensuring winners receive the full value of their prize. We’re thrilled for the integration because it’s another innovative way to bring stability to the crypto-sphere using Dai.
What is Cryptocup?
Cryptocup is a prediction gaming platform where users predict the outcome of sports games and receive an NFT which holds their predictions (ERC721). From there, a Cryptocup smart contract collects the fees needed to participate and sends it to prize pool. If their prediction is right, they win the prize pool made up of all the others that submitted predictions on the match.
A clever feature of Cryptocup is that a player can sell their NFT at any time. For example, let’s say that you’ve had a few successful games and have amassed a good amount of points, but you might not be so confident about your predictions for the games to come. With Cryptocup, you can sell your NFT to another player who is more aligned with the predictions you made!
Dai means a stable prize pool
To date, prizes have been paid out in ETH, but users have demanded a stable pool due to ETH volatility. With Dai integration, winners can trust that the value will be maintained throughout the course of the tournament, meaning the prize pool is worth the amount that was put into it originally.
More on Cryptocup
Cryptocup is a gaming system that can be played with any game. It started with soccer in June for the FIFA World Cup, and are now expanding it for the NFL. Their first event was with the FIFA World Cup. The prize pool was around 56.5 ETH ($35,000 USD).
The team is currently building the second NFL tournament which will be ready by next week, with March Madness in their plans for 2019.
You can find more info on Cryptocup.io
The team behind Cryptocup
Founders Federico, Martin, and Nicolas are well known developers of the Ethereum ecosystem. They participated in ETH Buenos Aires and were selected by the MakerDAO team for their project Token Toilette. They were also in ETH SF with the project Robin Bot.