Please describe your proposed solution.
===== Summary of the proposed solution =====
We will be building iOS and Android apps for the ADABET.IO platform, which will make it easy for users to place bets. The goal of the project is to help enhance the user experience on the mobile platform to be better and more loved by the end-users. Combined with the overall system of the ADABET.iO Cardano Betting Dapp project, these mobile applications are built on iOS and Android as clients connected to the platform's system.
ADABet.io is a platform project that allows betting on sports competitions such as football, tennis, racing, baseball, golf, and many more… Basically, ADABet.io is a DApp built on the Cardano blockchain and applies WEB3 technology for distributing resources to players and ensuring the integrity of assets for players.
In the ADABet.io platform, tokens will be created specifically for the ecosystem of the players, it is designed to add value to the players as well as the ADABet platform while giving the players more flexibility in the game.
Place bets and pay without depending on cash or credit cards. Players can deposit with $ADA or $ABE (Token of ADABET.IO betting platform) to participate in bets and can withdraw to their wallet anytime.
ADABet is designed with many outstanding and attractive features, leveraging Cardano's decentralized platform for finance and governance combined with the favorite features of traditional staking platforms.
Features like live betting, scoring for winners, prediction betting, pear-to-pear betting, or agent-book (allowing multiple dealers to join and create their own betting floor with their community).
The development team is very excited and enthusiastic about this project, it is expected that this will be a DApp worthy of attention and investment in the Cardano ecosystem, in the future, it will replace traditional betting platforms, present and give players a whole new experience. That's how Cardano blockchain, Web3 technology really changes lives.
===== Detailed explanation of proposed solutions =====
<u>(*This is a module of the total recommendation of the ADABET.IO |Cardano Betting DApp platform, </u><u>PA/CA needs attention, </u><u>there are sections with the same idea of the solution, solves and there are separate parts between the 2 proposals). </u>
In this proposed module, we build user applications of the ADABET platform on mobile including both Android and iOS operating systems. The ADABET smartphone application is essential, it increases the value of the platform as well as attracts more users, and has a better experience.
ADABET.iO | Sports Betting Mobile App is a decentralized application for sports betting that allows players to create their own accounts, place bets, and self-monitor their wealth management. With most traditional betting platforms relying on bookmakers and focusing entirely on credit card transactions and payment systems, this limits the transparency of bet transactions. Therefore, there are many betting platforms that are established with low reputations, causing damage to players participating on these platforms that lack safety and security.
ADABET.IO leverages WEB3 technology and Cardano blockchain to make staking and payment transactions transparent, increasing the security of customers without needing to verify their identity, and increasing flexibility in payment Deposit and withdrawal assets based on ADA coin.
We are aiming for a broader betting market with a market value approaching $100 billion annually. The global sports betting market size was valued at USD 76.75 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030 (*From Grand View Research).
- https://www.grandviewresearch.com/industry-analysis/sports-betting-market-report
- https://www.prnewswire.com/news-releases/sports-betting-market-size-to-grow-by-usd-106-25-billion--by-platform-offline-and-online-geography-apac-europe-north-america-south-america-and-mea-and-segment-forecasts-2021---2025--301497480.html
Specifically, ADABET will address the following issues to completely change the way traditional betting platforms work.
<u>1/ The prestige of the house is guaranteed: </u>
Based on the decentralization of Cardano blockchain technology, players' assets are guaranteed to be intact in the blockchain, and applying smart contracts in staking transactions will create the transparency that the platform transmits. pine cannot do this. That is why the reputation of ADABET for players is very reliable.
<u>2/ Fast deposit and withdrawal time: </u>
Based on the transaction speed on the Cardano blockchain which is real-time and 24/7 ensuring continuous validation of thousands of Cardano nodes, it makes it possible for players to deposit and withdraw ADA coins whenever they want in just a few seconds.
<u>3/ Customer care (DAO): </u>
Currently, traditional platforms still take care of customers according to their time frames without time continuity. To overcome this, ADABET will create a self-governing community (DAO) mechanism that supports players against each other. It helps players with multi-dimensional information and self-learning faster when participating in the platform as well as building their own sharing community, so that the ADABET community will be more and more expanded and attract more people. play from traditional platforms here.
<u>4/ In addition, ADABET also focuses on utilities for players such as: </u>
Diverse odds and easy betting, friendly graphical interface, multi-language support, and especially many attractive promotions and games applying Defi and GameFi decentralized finance We feel that the power of WEB3 and Cardano technology will create an outstanding betting platform that is worth the investment and experience for ADA holders and the global betting community. That makes the Cardano ecosystem really more attractive and entices more people to invest in ADA. It's a better experience for the end-user that benefits the Cardano community and broader ecosystem.
<u>5/ Collaboration:</u>
ADABET's goal in collaborating with bookmakers is to share the outstanding advantages of applying Cardano blockchain technology to betting platforms. Collaborate with leading bookmakers to share the vision and benefits of ADABET. Collaborate and invite investors to the ADABET.IO platform, and participate in shaping the standard for licensing to ADABET agents.
Please describe how your proposed solution will address the Challenge that you have submitted it in.
===== Solutions to solve the above specific problem =====
About user experience on mobile apps:
Analyze and select useful and simple features for users, and develop user trends through the ADABET app. Design an impressive user interface and make the user have the best experience on the app. According to statistics and usage of applications across platforms, users often download applications on the Apple store and Google play on mobile devices rather than on PCs because mobile apps are more convenient and experience better than apps. use on PC. That forced us to develop ADABET apps on smartphones and tablets.
About technical solutions:
We will build a server system to operate the Cardano node and Cardano-DB-sync network for the ADABET dApp platform, this will ensure that the dApp APIs connect to the Cardano blockchain continuously and avoid the occurrence of request timeout in the system, and at the same time be autonomous in connecting and pre-built APIs for partners or agents. Design and build tokens to serve in the ecosystem of the betting platform. Build a web server system and database to develop user functions on the platform.
About the dApp content solution:
Design the basic features of the betting platform, while adding new and trending features of the players. Features like live betting will not limit the number of bets in a match, scoring for the winner, prediction betting, peer-to-peer betting, or agent-book (allows multiple dealers to participate and can create their own platform, and bet with their community). This will always create interesting games and form for players (like betting on Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, and Others..). Design tokenomics to attract investors as well as create benefits for players, adding value to the ADABET platform (we call it $ABE coin). It will be used to generate rewards for players, create financial games within the platform, serve investors, market, and reward the product development team. In addition, we apply WEB3 to ensure the ownership of players' assets as well as smart contacts to help transactions in the platform be more transparent and reputable.
Regarding legal solutions:
We are working with reputable licensors as well as major bookmakers to join the global betting market, helping to expand players and increase their benefits. (Cagayan Economic Zone Authority, Isle of Man, PAGCOR..)
The KPIs for the project to go straight to solving the problem are:
- The number of people downloading the ADABET App (on smartphones, and tablets).
- The number of wallets that integrate and connect to the ADABET App.
- The number of transactions extracted and statistics from ADA holders in ADABET App.
- The number of accounts registered in the ADABET App.
- The number of regular players on the App. The number of assets of users playing the App.
Communication strategy:
- We open online AMA sessions with the community to share information about our products. Train or hire regular media KOLs for this dApp.
- We will build communication channels on Youtube, Facebook, and Twitter to promote your application.
- Create content events for the dApp launching.
We believe that with each methodically implemented and communicate content, the ADABET betting platform will be interested and invested by many people, and it will be a new thing to replace the current betting platforms.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
===== Risk management, solutions and awareness =====
<u>Policy</u>:
Apple and Google policies change affecting the deployment of apps to their stores causing time delays for app release to end-users. With many years of experience in developing mobile applications, we understand this, that's why we always update the frequently changing policies of those platforms. We will apply it to building the ADABET application using the latest versions they provide. We always update the latest SDKs and Dev tools as well as the OS that they apply for product development and minimize errors during app deployment.
<u>Technology not yet supported:</u>
The ADABET is designed with many technical pieces deeply involved in the Cardano blockchain technology, which is not easy for new entrants and can make their project look fuzzy. We built our own Cardano Nodes to delve into blockchain engineering and attended IOG Plutus, Marlow, and Haskell courses to keep up to date with the advancement of the Cardano platform. We have a team of 7 software engineers working with blockchain in ADABoys LAB. With the experience from 2 previous funds F7 and F8 we have worked a lot of hours with Cardano, which helps to accumulate a lot of experience. experience correctly identifying the techniques needed to develop this project.
<u>ADA Coin Down:</u>
(As with many of the projects we are developing, concerns about the falling value of ADA) When the crypto market goes down, it affects the price of ADA coin, causing the investment value in project development to decrease, which is inevitable in many projects on Catalyst. With experience from previous Funded when we were funded. We always request a 10% portion of the total project budget for project risk management, and will immediately cash out staff salaries, and expenses for key parts of the project. This ensures that we are not affected much by the price of ADA coins. The rest of the ADA we spend on the project's ADA payments, for testnet or main-net or product listing.
<u>Internal team:</u>
Many projects cannot build their own development team, nor do they have long-term partners because the project does not guarantee large financial resources for outsourcing, which makes many projects on Catalyst develop slowly, it is potentially risky. We are well aware of that and from the moment the proposal was written, it was clearly planned. We build an in-house development team and are always ready for resources to participate in the development of new projects.