Last updated 5 months ago
Prediction markets have slow payouts, limited profit potential, and ties up capital for long periods of time.
Combine predictions betting with perpetuals trading, allowing people to place bets with leverage and near instant turnouts.
This is the total amount allocated to Strike Finance <> Bodega Market: Predection Market Perps.
Please provide your proposal title
Strike Finance <> Bodega Market: Predection Market Perps
Enter the amount of funding you are requesting in ADA
506000
Please specify how many months you expect your project to last
12
Please indicate if your proposal has been auto-translated
No
Original Language
en
What is the problem you want to solve?
Prediction markets have slow payouts, limited profit potential, and ties up capital for long periods of time.
Supporting links
Does your project have any dependencies on other organizations, technical or otherwise?
No
Describe any dependencies or write 'No dependencies'
No dependencies
Will your project's outputs be fully open source?
Yes
License and Additional Information
All smart contract code developed will be fully open sourced under the MIT license.
Please choose the most relevant theme and tag related to the outcomes of your proposal
DeFi
Describe your established collaborations.
Bodega Market is the first and only prediction market platform built on Cardano, while Strike Finance is the first and only perpetuals trading platform on Cardano. We will leverage each other’s established user bases and technology to combine perpetuals trading with prediction betting on Cardano.
Describe funding commitments.
This joint project will be developed by both teams. There will be 4 full-time engineers including backend and front-end, 1 UI/UX Engineer, 1 Devops and testing engineer, and 1 product manager overseeing coordination and delivery.
Describe your key performance metrics.
Number of Unique Wallets: Measures user adoption
Revenue Generated by Platform: Tracks the sustainability of the protocol
Total Trading Volume Generated by Platform: Indicates overall market activity
Please describe your proposed solution and how it addresses the problem
We combine prediction markets with perpetual futures, enabling leveraged trading on real-world events. This addresses the core problems of traditional prediction markets of slow payouts, no leverage, and long lock-up periods.
Please define the positive impact your project will have on the wider Cardano community
This collaboration brings an entirely new trading product to Cardano by combining perpetual futures and prediction markets, two of the fastest-growing sectors in blockchain. Perps account for nearly 70% of all blockchain revenue, while prediction markets are quickly rising in adoption. We believe this product will attract new users, liquidity, and attention to Cardano. For the existing Cardano community, both Strike Finance and Bodega Market are established projects that return 100% of platform revenue back to community members.
What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?
Strike Finance has distributed nearly 500,000 ADA in platform revenue back to the community within just three months of mainnet launch, and generating over 100k transactions. Bodega Market has facilitated millions of ADA in trading volume Both teams have successfully delivered first-of-their-kind products on Cardano, open-sourced their smart contracts, and proven their ability to launch, manage, and grow mainnet-ready protocols.
Milestone Title
Protocol Design
Milestone Outputs
Acceptance Criteria
Published documentations in either GitHub or Notion detailing contract design, leverage/risk controls, and example market specifications. All of the above design requirements are included in the docs.
Evidence of Completion
Evidence will be provided through published documentation on GitHub or Notion that details contract design, leverage and risk controls, and example market specifications.
Delivery Month
1
Cost
42166
Progress
10 %
Milestone Title
Risk management / Oracle Solutions
Milestone Outputs
Acceptance Criteria
Automatic hedging for liquidity providers, reliable oracle resolution for both binary and scalar markets, and fully functioning expiry safeguards including liquidation bands, leverage decay, and margin scaling in a testnet environment.
Evidence of Completion
Evidence will be provided through a public video demo and a GitHub repository showing successful testnet trades where auto-hedging executes, oracle resolves markets, and expiry risk protections operate as intended.
Delivery Month
5
Cost
210833
Progress
50 %
Milestone Title
Backend & Infrastructure Development
Milestone Outputs
*Reliable order routing into Bodega's order book
*Perform continuous funding calculations for open positions
*Deployment of live servers and batchers that continously motinor the start of the contracts and execute automatically any actions such as stop loss, take profit, and liquidations
Acceptance Criteria
Successful operation in a testnet environment for the following. The backend from Strike must reliably route orders into Bodega’s order book with accurate execution and confirmation. Funding calculations should run continuously and correctly adjust trader balances to maintain market equilibrium. Deployment of live servers and batchers must demonstrate the ability to automatically monitor contracts and execute actions such as stop loss, take profit, and liquidations without manual intervention.
Evidence of Completion
Completion will be demonstrated through a public video demo and open GitHub repository. The demo will show orders being routed into the order book, margin checks triggering liquidations, funding payments applied to open positions, and automated actions like stop loss and take profit executed by live servers.
Delivery Month
5
Cost
210833
Progress
90 %
Milestone Title
Testnet Deployment & Community Feedback
Milestone Outputs
Full end to end product released in testnet
Gather community feedback and implement changes suggested by community
Audit of contracts while testnet deployment is underway and fix all vulnuerbilities discovered during the process
Acceptance Criteria
A fully functional end-to-end product must be deployed on the Cardano testnet. Community feedback must be actively collected through and at least a portion of that feedback should be reflected in updated contract logic or UI/UX improvements. An independent audit must be conducted while the testnet is live, with all identified vulnerabilities fixed before progressing to mainnet.
Evidence of Completion
A public testnet deployment link where users can interact with the product, along with published community feedback reports and changelogs showing implemented changes. The GitHub repository will contain the deployed contract code, with commits showing fixes applied in response to feedback. A published security report from a reputable auditor. A video demo of the live testnet trading experience will also be provided to confirm end-to-end functionality.
Delivery Month
1
Cost
41666
Progress
100 %
Please provide a cost breakdown of the proposed work and resources
4 Full Time Engineer: 12 months. 24k USD per month. 288K USD
1 FT Product Manager: 12 Months. 4k USD per month. 48k USD
1 Design/UI&UX Engineer: 12 months. 4k USD per month. 48k USD
1 Devops/Testing Engineer: 12 month. 6k USD per month. 72k USD
Assumption of 1 ADA = $0.9
How does the cost of the project represent value for the Cardano ecosystem?
Strike Finance and Bodega Market both distribute 100% of platform revenue back to their communities. This ensures that growth directly benefits Cardano users. Both projects consistently rank in the Top 10 across key metrics such as unique wallets, total transactions, and trading volume. This is an innovative product with no dominant player yet in the entire blockchain space, creating an opportunity to attract new users and liquidity to Cardano.
Transactions conducted on both platforms have already generated over 50k ADA in fees for Cardano stake pool operators, on top of the revenue distributed to community members.
Terms and Conditions:
Yes
Shan Yu Zhang: CEO Strike Finance
Cory JS Collombet: CEO Bodega Market
Newly hired engineers or current engineers from both projects