PowerϟWagers
A SocialFi project to empower, support, and reward individuals and groups to unleash their full potential with trusted communities, friendly competition, and social support!
PowerϟWagers
Created At
Winner of
Blockscout - Best use of Blockscout Block Explorer
Prize Pool
Dynamic - Most Entertaining/Fun Experience
Project Description
Category: Social and Pledge Challenges
Problem: Starting self-improvement projects is easy, but maintaining them is hard due to a lack of incentives and social support. Examples include reducing social media consumption, switching jobs, run a marathon, read more books, going on a date, etc.
Solution: PowerϟWagers is a betting dApp for close trust communities, combining competition with financial incentives. Members create bets on who will reach their goal first, with stakes pooled and paid to the winner, providing motivation and financial incentives to persist.
Unique Features: Non-participants in the bet but part of the trust community can stake Wager Tokens on who they think will win, adding an extra layer of social support and engagement. Additionally, companies, public institutes such as NGOs or national health insurance funds or other entities interested in positive collective behavior can provide rewards to the group or individual who reach their goals.
How it's Made
Workflow and used technologies
- Register: User connects via Dynamic (also resolving to ENS) and automatically creates Circles Account
- Creating a bet: Users add each other’s wallets to their trust circles who participate in bet (becoming Wagers) Wager defines bet and stake USDC in betting pool that will get paid out to winner
- Including the community: Other users within trust circle (who don’t participate in bet) can bet on future winner (becoming Power Wagers) with their Wager Tokens
- Technical Infrastructure: Wager Smart Contract deployed on Gnosis Chiado Testnet & Base Using indexers such as Blockscout for transactions and The Graph for indexing the bets
