ALLIN Betting DAO
Problem
No current app offers a middleman-free, all-in-one betting experience with multiple ways to earn yield.
Solution
Betting DAO that is fully transparent and able to provide yield from DeFi, play-to-earn, staking, profit sharing, pick following and more.
Total to date
This is the total amount allocated to ALLIN Betting DAO.
About this idea
Vision
To be the world's go-to Betting DAO for all types of wagering in an all-in-one, easy-to-use app. The token holders will act as the house, share in the profits and vote. Along with other types of functions, yields and perks for holding our token and being part of the DAO.
How It Works
ALLIN Token - The token that you hold and can use to make bets, by holding this token it represents your share of the profits based on your tokens relative to the outstanding supply. This token comes with the volatility of the crypto markets.
ALLIN Stable Token - This token is pegged to fiat currency such as US Dollar or Euro so that you separate your bankroll from the volatility of the crypto markets but do not receive a portion of profits for holding this token.
Bet Types
Bet vs. Chain - You can place a bet similar to a Sportsbook but instead of betting the house you are betting against the blockchain. Everyone that owns tokens in the ecosystem acts as the house.
When someone wins a bet, the system will mint that amount of tokens to payout the bet and the reverse if someone loses a bet, the system will burn that amount of tokens that was bet.
Every bet and Mint/Burn transaction is recorded on the blockchain to make sure there's no foul play.
By holding the token there will be fluctuation in terms of minting and burning of the tokens due to the bets but also of the supply and demand of the price of the token.
This is how we're able to turn the ecosystem of token holders into "the House" and have a sustainable ecosystem that brings change to an industry that is ready for it.
Person-to-Person - You can place a bet controlling the subject, odds and terms through blockchain smart contracts and have another person accept that bet with no middleman.
Pools - You can start a pool with friends/co-workers or join a pool with people from around the world in a variety of pool types across all sports and other subjects that use smart contracts to validate results. Some examples are survivor pools, bracket pools, Pick'em tournaments, celebrity pools, etc.
Esports/Video Games - You can bet on professional esports teams or you can play someone in your favorite video game, card game or other games.
Sports Index Tokens - It's the stock market for the sports world. Replace companies with players or teams. Trade team/player performance tokens that create an algorithmic score or rating based on many different factors (stats, salary, media/popularity, etc.) that is unique to a specific sport. These performance ratings generate dividends for token holders. It's a free and open market to trade these tokens where the price will be based on supply and demand.
Casino Games - You can play online casino and card games with trust and transparency that the outcomes are fair through the use of blockchain technology.
Fantasy - You can start a league with friends/co-workers or join a league with people from around the world in a variety of fantasy types across a variety of sports. Some examples are daily fantasy, season-long leagues, keeper leagues, playoff leagues, etc.
DeFi - You will be able to participate in a variety of products that will involve a new way to earn a yield off your sports knowledge. Ie. Liquidity pools that can be team, league, sport or regionally specific.
Development Overview
We are using agile development practices and development is underway.
Our goals for this funding round are:
Backend - Completion of the backend models and APIs for the Person-to-Person (P2P) and Bet vs Chain (BvC) bet offering and accepting and funds management.
Frontend - Development of the frontend web application with P2P and BvC bet offering and accepting and funds management.
Design - Initial UI / UX designs for MVP functionality.
Person-to-Person - Plutus smart contract.
Bet vs Chain - Plutus smart contract.
We will deliver web and mobile applications for Windows / Linux / Mac / Android / iOS with the same functionality, using React and React Native. The React web application is the target platform for this funding round.
Milestones Achieved
Backend models and APIs specified and implemented for basic bet offering and accepting.
Initial frontend architecture developed.
Plutus Pioneer participation.
Recruited CEO with substantial experience in the gambling industry and entrepreneurship.
Research ongoing into Plutus Application Backend (PAB) integration and scaling solutions.
25% of MVP work completed with over 1000 hours of sweat equity.
Roadmap
2022 Q2 - MVP with Bet vs Chain (BvC).
2022 Q3 - Person to Person (P2P) betting
2022 Q4 - Casino Games
2022 Q4 - Pools
2022 Q4 - Esports / Video Games
2022 Q4 - Sports Index Tokens and Fantasy betting
Success Metrics
In 3 Months
Frontend prototype.
Initial implementation of MVP functionality of backend.
Initial implementation of smart contracts.
Alpha version available for people to interact with.
1,000 Social Media Followers (Twitter, Facebook, etc.).
100 community members (Discord, Telegram, etc.).
In 6 Months
MVP Web Beta Available.
100 Beta Testers.
3,000 Social Media Followers (Twitter, Facebook, etc.).
300 community members (Discord, Telegram, etc.).
In 12 Months
Web and Mobile Apps Available.
1,000 Registered Users.
10,000 Social Media Followers (Twitter, Facebook, etc.).
1,000 community members (Discord, Telegram, etc.).
Use of Funds
Funding necessary to get to MVP launch.
Ask - $18,000
Design - $1,000
Backend and Smart Contracts - $6,000
Frontend - $4,000
DevOps and Infrastructure Services - $2,000
Oracles, API and Data Services - $1,000
Marketing - $2,000
Legal - $2,000
Team
Global team of developers and professionals with experience in app development, DevOps, DeFi, blockchain, and the gambling industry.
