Builder bounty: Betting on Zero

[dennis]

There has been a trend lately where meme stocks, cryptocurrencies and tokens are evaluated way beyond their fundamentals e.g. $GME and $DOGE. There are a lot trading opportunities in those cryptocurrencies and stocks; especially by betting against them. But currently there aren’t any decentralized service on any block chain which provides this kind of opportunities.
I would like to build a dapp which allows people to bet against stocks, tokens, cryptocurrencies and eventually more.

Bet types

• Price of X will drop
• Price of X will drop more than Y
• Price of X, Y, Z will drop (like a composite of the first type)

Features

• Users will be free to choose the conditions. e.g: “I (the seller) will receive 1000 USDT if the price of $DOGE drops in 1 week, if the price rices the buyer will get 200 USDT”. As seller you are responsible to make the conditions reasonable, otherwise your order will never be filled.
• Transparant oracles: users will exactly know where the price will come from.

Initial available markets to bet against

• $GME (Gamestop)
• $DOGE

Advantages for Opium holders and ecosystem

• Fees generated by the dApp will be used to buyback and distribute Opium to holders. This can be changed later on but there will be financial benefits for Opium token holders. This will also add more value to the Opium token
• Fees can also be stored in a treasury and used for marketing.
• Fee percentages will be governed by Opium holders
• There will be a big “Build on Opium Protocol” in the dapp which will lead to more exposure for the Opium Network.
• All code will be open source (AGPL).

Milestones

1. Graphical interface
2. Oracles ($GME and $DOGE)
3. Derivative logic
4. Governance contracts (fee regulation)
5. Audits
6. Release

There will be several feedback rounds where you can leave your opinions / steer the project.

I hope my explanation is clear. Feel free to ask any questions

Builder Bounty Program

Introducing Opium Builder Bounty Program

[Twitter post - 34 (2) (1)] What is a Builder Bounty Program? One of our core beliefs is that DeFi stands for open innovation and development. Ever since the beginning we have open-sourced Opium Protocol so other teams could build on top of it, or use components in other projects. Today we’re announcing another important step in enabling and incentivising open innovation on top of Opium Protocol. The Builder Bounty Program is a governance-based program where external and independent builders…

• For
• Against

[Rasmus_Bobkov]

Perfect!
This is exactly what I envision opium to be.
This type of options would really kick off opium.
The example we need, so that people start to realize what and how you can do on opium protocol, and the possibilities for high risk/reward derivatives.

You have all my support i can give you.

[dennis]

Some progress pics of the UI.

Dashboard:

Order / bet list:

Creating a new bet / order:

[dennis]

Working on it here: GitHub - tarteo/betting-on-zero

[alirun]

Hey @dennis

Good idea!

Let us know if you need any info or advices.

I’ll walk through your repo now.

I have one question right away: So you want to have an orderbook? How do you want to collect, store and match the orders?

[alirun]

Oh I see, you want to have on-chain orderbook

So you plan to run it on Polygon for smaller tx fees?

[dennis]

Correct, a simple version of an order book though. The gas fees on Ethereum for this is too high indeed so I’ll deploy it on polygon with chainlink oracles because (as far as I know) provable is not on polygon.