This Dapp is a simple prototype that allows individual goal getters (stakers) to put "money where their mouth is" and bet on themselves to achieve their intended goals. The stakers will use this app to stake an amount of Eth and will only get that amount of Eth back if they achieved their intended goals.
Two Other Players will also play a role in this Dapp.
The sponsor, who is someone who is willing to provide extra incentive for the staker to achieve their goals. Sponsor typically also has the same desire for the staker to succeed and is willing to reward the staker if goals are achieved. For example, a staker may be a overweight person setting a goal to lose 10 lbs in a month, the sponsor could be his/her parent who is also interested in the staker's success and is willing to reward the staker for succeeding.
The judge is an objective arbitrator that evaluates the outcome of the goal and approves the bet in the smart contract Dapp.
Players - sponsor, staker, and judge Action - 1) staker will bet on himself to accomplish a goal in a specific duration of time, 2) sponsor will also bet an amount of ether on staker as extra incentive, assuming sponsor is interested in see staker succeed 3) a smart contract will lock their ethers and dictate terms of payout at end of the time duration, terms will include (goal statement, betsize, time duration) 4) at end of the period, the judge will look at the goals achieved and approve outcome. The approval and outcome will determine payout. 5) result can come out either two ways: 1) staker achieves the goal and wins his original stake fund + amount staked from sponsor or 2) staker fail to achieve his/her goal, loses his stake, sponsor gets full refund upon failure 6) BUT staker has a chance to get his money back by placing another bet on himself to win his money back (Still under Developement) 7) Staker is allowed two tries to get his/her money back, if still failure afte two tries, the entire lost amount will donate to Golify Dapp. The money will then be used to help other stakers to achieve their goals (Still under Developement).
I made this project literally in 4 days (wasn't able to find a team for 2.5 weeks, and after talking to Emily, I decided to hack away on my own). The DAPP still needs development. It lacks a front end, so it's not a complete Dapp yet.
Here is roughly 4 steps that outlined my thoughts
Step 1) Create Goal
Step 2) Bet on Goal - sponsor and stakers will bet,
Step 3) Approve Outcome - judge will approve outcome as succcess or failure
Step 4) Distribute - judge approves or disapproves, sponsor and staker re-create the Bet
Variables - 3 players / addresses; time - start, end, eduration; money - pot, betsize, dappFees; goal statement; tries; State enum; Outcome enum