Lykely
A gamified meme prediction market built on LUKSO
Created on 5th May 2025
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Lykely
A gamified meme prediction market built on LUKSO
The problem Lykely solves
- The meme world is full of creativity and virality, but lacks structure for long-term value.
- Creators are rarely rewarded or recognized, even when their memes go viral and shape internet trends.
- Once a meme’s popularity fades, its cultural and economic value disappears with it.
- There is a clear disconnect between creativity, recognition, and monetization in today’s meme ecosystem.
- This leads to underappreciation of creators and missed opportunities for community engagement.
- What’s missing is a sustainable Platform that captures a meme’s impact and fairly distributes its value to both creators and people who appreciate it.
Challenges we ran into
1. ✨ Making the Platform Responsive on Grid Layout
- Creating a smooth, responsive layout for a meme-heavy interface was a real challenge — especially with a mix of landscape, portrait, and square content.
- We initially struggled with inconsistent alignment and overflow issues while setting our mini-dApp on Grid layout
2. ⚖️ Designing a Fair Reward Distribution Algorithm
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We iterated through several versions, balancing between rewarding predictors and giving creators a share if their meme goes viral.
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The final approach involves:
- Winners reclaiming their prediction amount (in $LYX) .
- Distribution of lost prediction pool among correct predictors proportional to their prediction amounts respectively.
- A 10% platform fee of which a 30% creator bonus if the meme goes viral
3. 📈 Formulating the Virality Algorithm
We needed a way to define virality using measurable engagement — not just random hype.
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After testing different thresholds, we finalized an approach where a meme is considered viral if it crosses:
- Views > 50% of the total user base
- Likes > 15% of its views
- Supporters > 3% of its views
Tracks Applied (1)
Build mini dApps for Universal Profiles
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