We’re planning to build a simple dApp which will allow friends to create bets amongst themselves via Smart Contracts on Cardano.
MVP will deliver a dApp & webpage allowing anyone (‘party1’) to create a bet (initially using win/lose/draw results in the 2021 Australian NRL Competition) by selecting the match and funding one side of the bet with ADA tokens. This will produce a sharable URL and QR code which can then be sent via SMS or email to anyone else. The contract will become live when side 2 of the bet is funded (by ‘party2’) with an equivalent amount of $ADA.
In the MVP, the winning party will receive the total ADA held by the contract (ie. both amounts funded), except in the case of a draw, or any input timeouts, in which case each party will recieve their full bet amount returned.
MVP will require an oracle solution to be live to retrieve the match result. Future iterations will include more markets (global) and any new coins tokens available through Multi Asset functionality.