Bet for Good
Bet for Good is a platform to bet on sports, gaming, and fitness challenges, and at the same time, it helps social causes.
Project Description
Our platform allows users to bet on sports, gaming, and fitness challenges, and also allows users to post causes to raise money.
On the betting side, users will select an event to bet on from the ones listed in our platform, each event will have a fixed size (eg. 0.3 MATIC), and must stake that amount to enter the bet until the end of the bet period, and will also choose a cause to help in case they lose. 50% of the staked bets of the users that lose that bet will be proportionally distributed among the users that won that bet. The other 50% of the staked bets from the users that lose that bet will be distributed to the causes as chosen by the users.
The staked funds from the placed bets will be staked in Alluo for the duration of the bet, the yield generated will go to the plataform.
On the causes side, users will need to be verified with Worldcoin before they can publish a cause, in order to avoid scams. After they are verified, they will be asked to upload the name, description, wallet, and goal (amount to raise) for the cause. The cause will remain open for betting users to choose until the goal is reached, or until they decide to cancel the publication. Every time a bet ends, the amount designated to that cause from the losing users will be transferred to the cause’s wallet.
How it's Made
We are using Polygon to build our main infrastructure because it was important for us to use a democratic network that allows low cost transactions. We use Worldcoin to verify the users that publish causes, in that way we can truly validate users. We implemented midpoint to publish a tweet every time the user makes a donation, the social part is very important for this project. With Tellor we get the information to verify the results from the bets and distribute the prices. With Unlock we'll mint an NFT Pass for users that place bets, this will grant them special benefits like whitelists, special events and more. We also use Alluo to stake the funds placed in bets during the period of the bet, the yield generated will go for the platform.
