The problem JumpShot solves

JumpShot is a unique sports betting platform that mitigates the risks of traditional betting by offering users the option to bet on the bettors. This is especially beneficial for newcomers who may be hesitant to participate due to the high risk of losing their investment.

JumpShot provides two main options for users: they can bet on the game or bet on the bettors. If they choose to bet on the game, they can select a game, view live details, player ratings, and place bets on various outcomes. Alternatively, they can bet on the bettors by viewing a leaderboard that ranks each bettor, their probability of winning the current bet, and overall probability of winning. By clicking on the bettor, users can view details of their past bets and place a bet on the bettor of their choice.

Once a bet is placed, a smart contract is triggered, and a BettingCertificate NFT is created that contains all relevant details of the user's bet, such as amount, odds, match position, and player, to ensure fairness. After the event is completed, the winner and winning ratio are calculated, and the money is transferred to the winners using Superfluid. The leaderboard is then updated accordingly.

JumpShot aims to integrate with other DeFi protocols such as Aave, Chainlink, and Filecoin for future improvements. Aave will provide liquidity to the platform, allowing users to place bets and receive winnings without delays. Chainlink will provide real-time information on sports events and odds calculations for reliable data in smart contracts. Finally, Filecoin will securely store all relevant data, including user information, betting history, and event results, on the decentralized Filecoin network.

In summary, JumpShot is a unique and innovative sports betting platform that provides reduced risk for newcomers by offering the option to bet on the bettors. Future improvements using DeFi protocols such as Aave, Chainlink, and Filecoin will make the platform more secure, transparent, and reliable.

Challenges we ran into

One of the biggest hurdles we faced was our lack of familiarity with the technologies and concepts of web3. Initially, we didn't have any knowledge of JavaScript, and we had to spend a significant amount of time learning the basics. Once we grasped these fundamental concepts, we then had to delve into understanding how NFTs worked and how to create a smart contract for them. Additionally, we had to learn about betting systems, how to simulate them in the blockchain, and how to keep track of funds within a smart contract. We also needed to calculate betting rewards distribution and distribute them using Superfluid.

Setting up the environment was also a challenge, and we encountered numerous errors along the way. Consequently, our time was primarily spent on learning these concepts and troubleshooting technical issues, which hindered our ability to fully realize our project.