Syncial

Syncial is a Social x prediction market app where, alongside regular social media posts, users can create prediction polls on future events. These polls allow people to place bets on different outcomes using HBAR tokens. When the event is resolved, those who chose the correct option win the pooled bets, while 2% of the total pot goes to the poll creator as a reward for engagement. Additionally, a small 1% fee is directed toward platform development. Outcomes are settled fairly using trusted pyth price feed, ensuring a transparent and trustless experience. Syncial combines social interaction with real-time prediction markets, making conversations more meaningful and rewarding. While building an incentivizing engagement layer.

We're a completely onchain platform deployed on hedera testnet keeping it privacy focused and secure, all the user data is stored on chain using lighthouse storage instead of traditional servers making it secure and forge free, whatever you post on the platform you own it forever preventing content stealing and exploitation of user data. For resolving prediction markets we use Pyth price feeds and the claims are settled via smartcontracts avoiding any manual contact or exploitation.

The Problem

1. Lack of Utility in Social Engagement: Traditional social platforms prioritize engagement metrics like likes, shares, and comments, but they fail to tie those metrics to any verifiable value. Users engage in speculation or debate, but there's no structured mechanism to validate or reward accurate insights.

2. Prediction Markets Are Isolated and Inaccessible Existing prediction platforms are typically isolated from community-driven social engagement. They often lack intuitive interfaces, have high entry barriers, and are geared towards traders rather than everyday users or creators.

3. Content Creators Struggle to Monetize Influence Influencers and creators are often forced to rely on sponsorships or platform algorithms to monetize. There’s limited ability to capitalize on thought leadership or topical relevance in a meaningful, verifiable way.

Syncial’s Solution:

Syncial addresses these issues by turning social content into interactive prediction markets, enabling users to engage with future oriented discussions in a meaningful and economically incentivized way.

Key Elements:

1. Predictive Threads Users can create prediction based posts/polls on current events across financial markets like crypto and stocks. Each thread includes a prediction market users can stake on. For example: “Will ETH cross $4,000 before June 30?”

2. On-Chain Market Settlement Outcomes are resolved via pyth oracles using their price feeds and ensuring transparency and eliminating manipulation. Staked tokens are distributed to participants who chose the correct outcome, and thread creators receive a share of the final pool as well as 1% of total bets will go to the platform's development.

3. Creator Incentives and Revenue Creators earn 2 percentage of the total amount staked on their polls, provided the outcome is resolved. This enables monetization through content relevance and audience participation rather than mere views or ad impressions.

4. Audience Engagement via Staking Users do not just interact by commenting or liking; they actively stake on predictions. This changes the nature of engagement from passive consumption to active participation, creating stronger community feedback loops and accountability.

5. Reputation and Discovery Systems Each user builds a public, on-chain reputation based on the accuracy of their predictions and the engagement they drive. This enables new discovery layers, allowing Syncial to highlight credible voices and consistent performers across topics.

6. Scalable, Low-Cost Infrastructure Syncial leverages hedera for fast finality and low transaction costs, making micro-engagements viable and ensuring a seamless user experience even with high-frequency activity.

How Syncial Works:

• Fully Onchain & Private Syncial is designed as a fully onchain application, ensuring complete privacy and decentralization. All transactions take place directly on the Hedera network.

• Username Minting To get started, users first mint their unique username on the Hedera testnet. Once minted, they can seamlessly access the rest of the app’s features.

• Posting Content Users can share images, GIFs, and other media on the platform. Every post is stored securely onchain via Lighthouse storage, powered by Filecoin.

• Discover & Interact Shared posts appear on the /discover page, where users can explore, engage, and interact with each other’s content.

• Prediction Markets On the /predict page, users can participate in prediction markets by Placing bets in HBAR tokens on active polls. or Creating their own polls within seconds.

• Creating a Poll : To launch a poll, simply provide:

• Your question

• The chosen asset

• Target price

• Poll duration (in hours) After filling in these details, click Create Poll and your poll will be live instantly.

• After the Poll reaches its given time it'll resolve it using pyth price feeds and distribute the rewards to winning users automatically making it completely seamless and decentralized.

Frontend & UI

• Built using JavaScript, Next.js, and Tailwind CSS, ensuring a fast, responsive, and modern user experience.

Wallet & Transactions

• Integrated with Rainbow SDK for wallet connection and signing of onchain transactions.

Smart Contracts

• Written in Solidity and deployed on the Hedera Testnet via Remix IDE.
• Integrated into the app using wagmi and ethers.js for efficient contract interactions.

Decentralized Storage

• All user data and posts (images, GIFs, etc.) are stored using Lighthouse storage powered by Filecoin, keeping the platform secure, censorship-resistant, and privacy-focused.

Prediction Markets

• Users place bets on polls using HBAR, Hedera’s native token.
• Poll resolution leverages Pyth price feeds via the pull method of Hermes, and then it updates the price and consume it in order to resolve the prediction polls ensuring accurate and reliable price updates for fair outcomes.