BetMax.one (further development and rebrand Seemarket)

Name of Project

BetMax.one

Application type

[ DAO Formation + Product Re-Launch]

Proposal overview

BetMax.one (SeeMarket) is a polling platform for prediction markets based on wisdom of crowds, world events are registered and people vote on the most likely outcome in a winner-takes-all scenario. Whether you want to know what the world thinks about an event or you want to compare your own opinion against others.
BetMax.one is a “rebrand” and further development from the SeeMarket platform: https://seemarket.one/

Why SeeMarket need upgrade, re-brand, funds and a DAO?

We need a trustless platform, where events are updated automatically and results fetched automatically from oracles onchain.
The team decided that BetMax.one will be a better name to proceed with further developments also with utility/governance token.

Why do we need funds:

  • Upgrade Backend + Frontend code (developement)
  • Rebrand BetMax.one with a fresh UI
  • Creation of the BetMax DAO and set up 9 governors
  • Set up community around it (telegram + discord + twitter)

Proposal ask

  • 1 developer (Kuyawa)
    Rate hour: $45 (8hours x 5days = 40hours/week) ($7200 per month) Commitment 3 months

  • BetMax.one DAO 9 governors (including community managers)

  • Using rate $10 per hour, 10 hours per week MAX = $1000 per week ($4000 per month) Commitment 3 months

$7200x 3= $21600
$4000x 3= $12000

Grant total: $32600

or ~$32600 equity-free contribution each:
$10K after launching a Rebrand-complete product on our testnet,
$10K after mainnet launch + social virality
$10K after forming a DAO with its community + snapshot + multisig
$2600 for after 10K users.

Funding amount requested: ~$33K

Metrics for success

  • 10K users
  • BetMax.one DAO mandates and treasure sustainability accomplished
  • $100K profit in BetMax.one treasure after one year
  • BetMax utility and governance token launch

External links

https://seemarket.one/

2 Likes

@BRUNO some questions

  • how much of the code can be reused, any why reuse them vs. rebuilding?
  • what were the learnings from SeeMarket that you could use for BetMax?
  • are you planning on using ChainLink, Band or something else for onchain oracles?
1 Like

Hello @Jacksteroo , here are the follow up regarding your questions:

  1. Some of the code will be reused, however there´s a fundamental chances, mainly related to your last question.

  2. Everything learned from SeeMarket can be and will be reused, the pain point that we detected in seeMarket was the events and scores that were updated daily manually, and they were many as there are many sports and many games every single day which is time consuming.
    Will be fundamental to build a community DAO around the project, which was not done with seeMarket

  3. Here is the fundamental change, BetMax.one will be an automatic app with chain link oracles, an autonomous self rolling app, that don´t require centralized team members to close pools/results as previous in SeeMarket. The plan is to use Chainlink oracles:

Chainlink is the most widely used and fully functional decentralized oracle network, providing smart contracts access to external data feeds and off-chain computations.

Chainlink currently empowers smart contract developers by bridging critical sports information on-chain from premium data providers, including:
TheRundown — Offers real-time odds, scores, statistics, and insights into the sports industry.
SportsMonks — Provides odds, statistics, and match results for soccer, F1 racing, and cricket. SportsDataIO — Gives game scores, player statistics, pregame futures, trivia, and more for several sports leagues.
Bookmaker Ratings — Supplies sports odds and match results for soccer, ice hockey, basketball, and many other major sports.

The plan is that users will be able to open pools related to sport groups like football, soccer, baseball, basketball, hockey, etc (each group has on average like ten games per day so will be plenty of events)

2 Likes

@BRUNO sounds good. One last thing, can we use this breakdown in terms of fund release? I’d like to propose adding some buffer to $40K

  • Testnet: 20% = $8K
  • Mainnet: 20% = $8K
  • DAO formed: 20% = $8K
  • 10K users: 40% = $16K

Does this work for you?