BonderMarket
A permissionless, decentralized protocol where users validate real-life outcomes - first use case being prediction markets
Created on 21st October 2024
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BonderMarket
A permissionless, decentralized protocol where users validate real-life outcomes - first use case being prediction markets
Why are you participating for Based SEA?
I believe in web3, and have pivoted to go all-in into this space. I am learning and improving every day. This project represents a culmination of my efforts in this space - a product of my beliefs in how web3 can potentially shape all of our reality. Base has been a strong voice in the region, helping to push the benefits of web3 and blockchain to the SEA community. Having grown up in Asia, web3 represents a leveling field. One could say we were late to web2 - as we import information at a slower pace in the past. But in web3, our region has caught up significantly, showing our presence and knowledge. This could be a global shift.
What challenges are you focusing on?
Information is an interesting phenomenon. It costs nothing, but costs us in unseemingly ways. Did the Moon Landing happen? Did riots happen yesterday downtown? Did that guy die from eating toothpaste? In the past, information is tightly controlled by entities, released to sway their own agenda and public perception. Pick up any 80s war propaganda and you get the idea. In today's world, we are moving away from this monopoly of information, into an unlimited, boundless field where information comes from various sources. What is real of fake? How about putting some skin in the game? Would that help us reveal what's real? Rather than the end goal being public perception, how about public perception deciding the outcome? With Base and blockchains, we are but an extension of the global community that exists on the internet, the free and open space. Will the rules that govern this community be different from the real one?
How does your submission address this challenge?
The fundamental idea is a global, decentralized community coming together to run a marketplace. Everyone is motivated by their own incentives - creators earn, bonders yield, players win. The revealing truth comes when validating outcomes - will our incentive design work to help keep bonders honest? We believe our mechanism does, and might open up a new way of validating real-world outcomes that is not done before
Challenges I ran into
- Needing to learn how to code from scratch => Nothing to do there but to push through
- Narrowing and prioritizing Solidity (over Rust), Base over other L2s => Went with my belief system
- Getting help from others to build (with no money) => Seek community and found help within the Pudgy Penguin community
- 2 other failed ventures (both onchain games) => Learning lessons. Improve and iterate. Keep moving forward
- Low income over this start-up period => Sees it as an investment
Additional Features
The idea was formed before the buildathon. I played around with the smart contract here and there. The idea got serious during this buildathon.
I started writing the smart contract MVP, which is what you are seeing now - hence, it's more short and sweet then complete.
There are more parts to the entire contract - this is what was put together for the buildathon. The product will continue to iterate.
Technologies used
