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Spoto

A decentralized sports betting platform

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Last updated: 03 April 2022 06:08 PM

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The problem Spoto solves

Mobile phone-based sports betting has exploded in popularity in the world and particularly there is a wide scope of betting. There are strict payout measures and unending identification procedures which can make it difficult for users to receive their winnings quickly. For decades, the gambling market has been monopolized by monopolists who control the odds for various events. Because of this, many users cannot get their payouts quickly after winning.

The Spoto matching engine is the first peer-to-peer platform that is truly decentralized (Defi).

Betters can act like users on a reliable and fair system that is powered by an immutable and trustless blockchain protocol
Spoto doesn’t hold custody of users’ money. Funds are fully controlled by smart contracts
Spoto tokens (SPT) are utility tokens used to govern the protocol
As soon as the token is released, users will be able to control 100% of the company, having the ability to make fundamental decisions regarding the platform's future.
Earn liquidity mining rewards for providing liquidity
Level up their profile NFTs by playing and keeping a consistent performance to enjoy exclusive perks and rewards

Challenges we ran into

Optimizing the smart contract to reduce gas utilization was a big challenge.
Integration of IPFS for storing metadata off-chain while keeping some of the metadata on-chain.
No suitable sports data provider was there for football live matches. Setting up oracle was a big challenge to get match results while the remaining data is being called up by rapid API directly.
Absence Gelato Ops compatibility for Matic Mumbai was a big setback as automation of a few contract functions could not be done (Will be done in Matic Mainnet)

Discussion