TezBet is a proposal for the Gitcoin's GameOn! hackathon. This project is the result of a four-people teamwork, comprised of two smart contract devs and two frontend devs. We are very grateful to our two advisors for their suggestions and support all along the project.
⚽ TezBet is a decentralized application built on the Tezos blockchain. Its philosophy is to be fully self-sufficient, resulting in a both decentralized and automated alternative to the common centralized soccer betting applications.
💰 TezBet's principle relies on the zero-sum game theory, which means that the bet winners share the total bet amount. Using this mechanism, TezBet does not need to store any backing liquidity to pay the winners.
➗ Potential gains are thus calculated upon the total bet amount on each possible outcome. We do not rely on any odds calculated by a third party entity.
This an exhaustive list of the functionalities that we wanted to implement in TezBet. Most of them have already been developed but there is still a lot of work ahead of us to make it fully operational. For the time being, we cannot fetch the games data in a decentralized manner; the displayed games are sheer data fixtures.
✔️ Creating a contract factory managing the games
✔️ Placing bets on different games and potential outcomes
✔️ Removing bets on different games and potential outcomes
✔️ Computing the odds aka the potential gains
✔️ Updating the game status
✔️ Redeeming the gains of a won bet
✔️ Erasing a game from the database when all gains have been redeemed
❌ Creating an oracle to retrieve soccer data from Chainlink
❌ Using the oracle to fetch future games and store them in the contract storage
❌ Using the oracle to fetch their outcome