d-BET: Decentralized betting Dapp

Create a decentralized / distributed betting platform that eliminates the middle man and create a more trustworthy user betting experience.

Wada Cameroon Hub:

• 3 senior software architects and developers with 12+ years of experience
• Nine interns and software developers actively learning Haskell, Plutus and software architecture
• Wada network of resources

[IMPACT]

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Context

Betting in Cameroon has brought about some considerable negative effects to local communities as a good portion of students are now consistently placing sport bets, and end up running away from school, also resorting to stealing money as a way to maintain their bets. Unfortunately these betting institutions are extremely unreliable, fraudulent, centralized and unfair.

Just recently, a kid in Douala, Cameroon placed a bet with 1xBet and won $21,000,000+. Right after the last match on his ticket was validated, he tried to access his account and he was locked out. The unfolding got worse. Here is a video in which the victims talks about his experience.

Solution

-- Overview

We aim to build a betting system that addresses most limitations that the current betting industry exposes in Cameroon and in most countries in Africa focusing on soccer as a MVP and then expanding it to any event with objective outcome in future iterations.

d-Bet will run without any central authority and will facilitate creating, trading and settling of betting senarii. It will be run exclusively by its users.

A bet life cycle starts with the creation of a betting senario that defines clear questions, rules and resolutions. The community then have access to it through a betting pool / market and can buy / trade or sale them under the control of a smart contract .

Once the betting senario reaches the end of its life cycle, The smart contract interacts with a series of Oracles to decide on the winner and disperse the funds to whoever is deemed as the winner.

The absence of a central authority will allow us to minimize the the fees. Portion of the fees will be paid by the winners / creator of the betting senario depending on the use case. In case of no winner, all bettors will share a portion of it proportionally. Another portion will be paid out to Oracles that will feed soccer event outcomes to smart contracts. The last portion will be use to maintain the platform and feed the treasury for social causes that will be voted on by the bettors.

Developing our solution on the Cardano ecosystem will ensure its decentralized nature. The network is censorship resistant and no central authority can fiddle around with users data.

-- Components

Digital token

Our mobile wallet, will offer users the possibility to exchange local fiat currencies into its digital version (pegged to its value) that we will be creating. We will also build a bridge between mobile money and our wallet exchange.

Mobile Wallet

We will implement an android mobile wallet for our customers with an easy to use QR interface to speed up transactions.

Betting Senarii

All betting senarii will be created by our users with clear answers to question about future events.

As a starting point we will focus our strategy on 3 options:

• Yes/No or True/False: Question with total answers: FC Barcelona will beat Real Madrid 1-0
• Multiple Choice: Which team will win the European Champions League this year?
• Scalar: How many total goals will be scored during the game FC Barcelona vs Real Madrid

These basic 3 betting options will allow to build basic contracts that will eventually be combined through Contract monads to express more complex and powerful betting senarii

The creator of the betting scenario will lock the initial fund > 1 unit of the digital token in a smart contract, and those who join the pot will have to lock at least the same amount.

Betting use case

Given a betting senario, users will have two choices: betting for or against. we will add the possibility to trade your bet or simply sell them at a small fee within a time-limit that will be set at the creation time and before the end of the betting senario life cycle. We intend to extend this use case to include full functionalities of order books

Betting resolution

This process is triggered by the expiration of the deadline for the event outcome set during the creation phase. Oracles will play a crucial role here as they will interact with the smart contract to feed in necessary information to decide the outcome. Once the decision is made, money is dispersed to accordingly to all interested parties.

Oracles

We will work with a group of reputable oracles in the world of soccer to feed our smart contract with accurate and trustworthy information

-- Expansion

Our first version of this project is focused on soccer betting; however, we plan to extend it to any event with an objective outcome.

The order part we intend to incorporate in future iterations is full functionally of trading / order book use cases

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Sport gambling in Cameroon and soccer more specifically has grown exponentially in the recent years at the expanses of gamblers. A simple betting app that bring in more transparency, ownership and decentralization will be set for mass adoption which translate into a massive volume of micro-payment on the Cardano blockchain

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The main risk is to set up trustworthy exchange mechanism / liquidity pool ensure conversion from local fiat money to the digital coin we will be creating. Our strategy is to just leverage a digital coin we will be implementing for our other funded proposal to reassure the user of its value and availability.

[FEASIBILITY]

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Our Wada Cameroon hub, DITC is focused on implementing Wada Education Initiative. We's got funded in fund 7 through our proposal Spread Plutus Through Africa to kick start our Haskell / Plutus training program. Our main strategy is project based learning and we intend to use this project just for that.

Phase one (2 months) of our project will be centered around extending our research in the gambling domain. We intend to bring in a game theory expert to help with sketching out our core algorithms and refine our specification

Phase two (3 months) of our project will consist of a refining exercise of our white paper detailing both technical and non technical components of our platform. We will focus on the core functionalities: the mobile wallet, Betting Senarii creation, Betting use cases, Betting resolution, Betting algorithms and the role the oracles play.

Phase three (7 months) will focus on laying out the design and then implementing d-Bet. This phase will end with a usable MVP that will then be extending to include more trading features such as "betting order book", selling / buying at market rate / or at a limit.

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Total Budget: $21000

• Complete Research and documentation: $1,000
• Marketing & Advertising (TV, Radio, Banners, Post): $2,500
• Game Theory Expert (1 * 40 hrs * 25 ): $1,000
• Developer Team motivation (4 * $500 * 8 months): $16,000
• Logistic & Deployment: $500

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Cameroon Wada Hub Trainers & Coordination:

https://drive.google.com/file/d/1gi_gdGeZuk66eh4zGHcRXNPGkEAV_l_9/view?usp=sharing

Manfo: Cameroon Team Co-Lead, Senior software architect & developer, 12+ year of experience programming, 3+ years in functional programming paradigm (F#, Haskell, Elm), Multilingual (French, English, Italian, Ngiembo)

https://www.linkedin.com/in/felicienfotiomanfo1642a479

Nkalla: Senior software architect & developer, 12+ year of experience programming, 3+ years in functional programming paradigm (Haskell), Mathematics teacher (Education Systems Engineering), Multilingual (French, Italian, English, Mbo)

https://www.linkedin.com/in/didier-junior-nkalla-ehaw%C3%A9-2a40a463

Arcel: Senior Software developer in Closure 7 + years experience, Project manager, Multilingual (French, English, Medumba)

https://linkedin.com/in/kamwa-f-a-raulain-959208ba 

Megan: Cameroon Team Co-Lead, Central Africa Coordination Lead, Wada core team (Education and Event Lead), Math & Physics teacher, bilingual (French & English)

https://www.linkedin.com/in/megan-hess-5b853292

Wada network of resources: Wada is a resource sharing network connecting people all over Africa and the Diaspora to IT, human, and financial resources to make dreams come true.

https://www.wada.org

Wada Cameroon hub Haskell / Plutus interns

[AUDITABILITY]

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Our project is layed-out in three well defined phases with specifics deliverable for each of them.

The first phase of our project will conclude within 03 months of funding with reports on our research and specification documents published on GitHub

The second phase consist of creating a white paper leveraging our research making sure it details the core components and functionalities. We will also publish it on our GitHub

The last phase will be focus on implementing the MVP and the number of weekly commits on GitHub will be a great indicator to measure progress

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The success to us is very simple and straightforward:

• Full deliverable of a usable product that eliminate the middle man
• A flock of users / bettors (900+) with the first 3 month after launch
• A flock of micro-payment transactions (12000+) within the first 3 months post launch

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This is a brand new proposal