WagerWave - On-Chain Betting Application

Overview

WagerWave is a decentralized on-chain betting application designed for the oraichain. Utilizing CosmWasm smart contracts written in Rust and deployed on the Oraichain network, WagerWave ensures a secure, transparent, and decentralized platform for users to place bets on a variety of events.

Project Description

The aim is to create an end-to-end application that contains the following components:

• User onboarding: Users register on the platform using their Keplr wallet.
• Bet Creation: Authorized entities can create betting events with specific parameters.
• Placing Bets: Users can place bets on their chosen outcome by sending tokens to the smart contract.
• Event Resolution: Once the event concludes, the outcome is verified, and the smart contract automatically distributes the winnings to the correct users.
• Payouts: Winnings are transferred directly to the users’ wallets.

Technical Stack

• Frontend: React.js for building a responsive and user-friendly interface.
• Backend: Rust and CosmWasm for developing secure and efficient smart contracts.
• Blockchain: Oraichain for deploying and managing smart contracts.
• Wallet Integration: Keplr wallet for user authentication and transaction management.

Proposed Architecture Diagram

Project Phases and Time Estimates

Phase 1: Planning and Research (1 week)

• Market Research: Understand the demand, competition, and legal aspects of on-chain betting.
• Requirement Analysis: Define project scope, objectives, and detailed specifications.

Phase 2: Design (1 week)

• UI/UX Design: Create wireframes and mockups for the user interface.
• Smart Contract Design: Design the architecture and logic for smart contracts.

Phase 3: Development (4 weeks)

• User and bet Management (2 week): Develop dapp for user registration, authentication using Keplr wallets and creating & managing betting events.
• Bet Placement, Event resolution and Payouts (2 week): Develop smart contract for placing bets, storing bet details, event resolution and automatic distribution of winnings.

Phase 4: Testing (1 week)

• Unit Testing and Integration Testing:
  • Writing and executing unit tests for all smart contracts.
  • Test the integration between the frontend and smart contracts.

Phase 5: Deployment (1 week)

• Smart Contract Deployment: Deploying the smart contracts to the Oraichain network and perform final checks and Launch the application to the public and monitor for issues.