Predict outcomes, win interest on pooled funds - combining money legos
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.
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.