Description

This project aims to provide an open protocol to build private prediction markets. For example, lets say A & B want to predict the price of a token ETH, they can pool funds of 100 + 100 ETH each , the protocol automatically puts that to work on something like Compound to earn interest. The winner of the prediction (as decided by a trustable oracle like Chainlink) gets the full interest earned, and both parties in the bet get the principal amounts returned.

Private Lossless Prediction Market showcase

How it's made

So the protocol is very simple - it uses openzeppelin ownable plugin, Chainlink and Compound apart from standard solidity. The work flow is as follows:- 1. 'A' decides to start a bet and predicts price of ETH will be more than $3580 after 4 days, stakes 1 ETH in the bet. 2. 'B' joins the bet with same amount of 1 ETH. 3. The protocol deposits the total staked amount of 2 ETH in compound, checks the result from an oracle after 4 days 4. Both parties get 1 ETH back and the winner gets the interest earned on Compound as the prize.