The problem BetMeme solves

BetMeme addresses two major challenges in the DeFi and crypto space

Liquidity Issues:
Meme coins and NFTs often suffer from low liquidity, making it difficult for users to trade or realize their value. BetMeme implements token burning and redistribution mechanisms to enhance liquidity.

User Engagement and Accessibility:
Engaging with DeFi platforms can be complex and intimidating for new users. BetMeme simplifies this by integrating a user-friendly prediction game within the familiar Warpcast social media app, allowing users to easily participate in on-chain transactions and betting games. This integration promotes higher engagement and broader adoption.

Betmeme Summary

Network
Utilizes the Base Network for high TPS and high participant-rate via the Warpcast with an easy-to-use featured prediction game, and is compatible with EVM as well.

Objective
To secure liquidity and increase the value of Meme coins and NFTs.

Key Features

• Increases token value through a price prediction game.
• Solves liquidity issues with burning and redistribution mechanisms.

Web3 based prediction game integrated with the Social media, Warpcast

• Creates an unique data-set especially formed as the Frame using Farcaster, and utilizes it on the Warpcast.
• Allows users to create posts in the Warpcast app by pasting the URL.
• Enables on-chain transactions and rewards within the social media channel, for the first implement, the Betmeme provides benefits to winners, those who won on the betting game based on price.
• Users can easily and conveniently engage in betting games and experience everything within the social app.

Betmeme is an DeFi protocol that allows users to easily participate in betting within familiar social media platforms, driving demand for Meme coins and NFTs while addressing liquidity issues. The key point is that users can experience on-chain transactions and all related activities conveniently within the social app.

Challenges we ran into

Challenges and Solutions

1. Contract Authorization for Betting
   When using contracts for betting, We are encountered an issue where the contract did not have the authority to send tokens. This was resolved by granting the necessary permissions through the approve function.
2. Creating Frames in Farcaster
   We are struggled initially with creating frames in Farcaster, but by referring to the frog library and its documentation, Was able to successfully build the frames.
3. Exposing Data via URL
   There was a hurdle in exposing all data in the frame via URL. Our overcame this by structuring the data properly, ensuring all necessary information could be accessed through the URL.