Please describe your proposed solution.

Predictify is a predictions market platform that aims to redefine how users engage with predictions. Powered by Cardano's POS architecture, Predictify introduces a unique no-loss model, ensuring that a user's investment is protected. The platform allows users to predict interesting real-world event outcomes and crypto and commodity prices as well. Predictify provides not only a secure and transparent environment for accurate predictions but also delivers a fun and engaging user experience.

With our user-friendly interface and simplified onboarding process, Predictify makes prediction market participation accessible to all regardless of technical expertise. This approach promotes the wider adoption of Cardano by providing an enjoyable and seamless experience that is accessible to everyone, everywhere. The introduction of a Cardano predictions market will help grow the ecosystem and enable users to tap into financial gains through making accurate predictions.

No-loss Predictions

The platform allows users to deposit ADA into the Predictify Stakepool and redeem earned in-game tokens (Not on the blockchain, but inside the protocol) based on their staking rewards after two epochs. Users can then use these tokens to place bets on various predictions without risking their principal deposit. In the event of winning bets, users earn additional in-game tokens, further increasing their token holdings. These tokens can be redeemed for ADA from the rewards pool, which consists of a percentage of stake pool rewards and collected fees. With the ability to convert in-game tokens into tangible ADA rewards, users can engage in prediction activities while maximizing their potential benefits. Predictify provides a secure, transparent, and enjoyable prediction market experience, which will enhance user engagement and driving the growth of the platform.

1. User Deposits:

Users begin by depositing a specific amount of ADA into the Predictify Stakepool. For example, a user deposits 100k ADA.

2. In-Game Token Redemption:

After a period of 2 epochs, the prediction game starts. At this point, users can redeem in-game tokens based on their stake. Let's say the total stake in the pool is 1 million ADA. The user's stake of 100k ADA would entitle them to (100k/1m) * 100 = 10% of the fixed pool of in-game tokens (Each round of prediction will have a fixed pool of in-game tokens). In this case, they receive 10k in-game tokens.

3. Betting:

With their 10k in-game tokens, the user can participate in predictions by betting on various outcomes. The no-loss model ensures that even if the user loses a bet, their principal deposit of 100k ADA would be unaffected.

4. Winning Tokens:

In a winning scenario, let's assume the user wins an additional 5k tokens. Now, they have a total of 15k tokens, which represents 20% of the total tokens for that particular round.

5. Redeeming Tokens for ADA:

The user's 15k tokens can be redeemed for ADA from the rewards pool. <u>The rewards pool consists of 95% of the stake pool rewards and 30% of the fees collected from all the listed markets</u>. Let's assume the rewards pool contains 2000 ADA. The user's share for redemption would be 20% of this pool, which amounts to (20/100) * 2000 = 400 ADA.

6. Withdrawals:

Users can initiate withdrawals of their converted ADA at any time, subject to any platform-specific withdrawal restrictions or policies.

here are the formulas for the key calculations in the Predictify no-loss model:

In-Game Token Redemption:

In-Game Tokens received = (User Stake Percentage / 100) * Fixed Pool of In-Game Tokens

Redeeming Tokens for ADA:

Amount of ADA redeemed = (User's Total Tokens / Total Tokens in the round) * Rewards Pool Amount

This structure ensures a no-loss experience for users while providing them with an engaging and enjoyable prediction market platform. The combination of Cardano's POS and the unique no-loss model offered by Predictify opens up new avenues for users to maximize their engagement and benefits.

Markets:

Predictify offers a thrilling and engaging experience by providing a wide array of prediction products across various categories. Users can immerse themselves in the excitement of forecasting outcomes in:

• Politics
• Crypto
• Sports
• Pop Culture
• Inflation
• Interest Rates

To ensure maximum interest and excitement, Predictify reserves the right to curate and create prediction markets within the listed categories during its initial months. This allows the platform to align with current trends, ensuring a dynamic and engaging experience for users. By actively curating the markets, Predictify strives to provide a diverse and entertaining range of prediction opportunities, enhancing the overall fun and enjoyment for users as they explore and participate in these exciting prediction markets.

Implementation Steps:

1. User Signs Up:

The user visits the Predictify website and signs up for an account by providing the necessary information, such as username, email address, and password.

2. Cardano Wallet Creation:

Upon signing up, a Cardano wallet is automatically created for the user on the backend. Alternatively, users have the option to manually connect their existing Cardano wallet to their Predictify account.

3. Smart Contract Deployment:

Predictify deploys smart contracts on the Cardano blockchain to manage the prediction markets, betting pools, and distribution of funds. These contracts ensure the secure and transparent execution of the platform's functionalities.

4. Exploring Prediction Markets:

Once logged in, the user can explore the available prediction markets across various categories. Predictify fetches the relevant data from the smart contracts and displays the markets to the user, allowing them to browse and select the markets of interest.

5. Placing Bets:

When the user selects a prediction market, Predictify interacts with the smart contracts to facilitate the betting process. The user chooses their prediction (e.g., "yes" or "no") and enters the desired amount they want to bet. The smart contract verifies the user's balance and deducts the bet amount from their account.

6. Market Expiry and Outcome Verification:

As the market approaches its expiry date, Predictify monitors the blockchain for the expiration event. Once the expiry is reached, Predictify uses the oracle contract to fetch and verify the outcome of the prediction from reliable external data sources.

7. Distribution of Funds:

After the outcome is verified, the smart contract calculates the distribution of funds based on the initial percentage each participant had bet. The contract then transfers the winnings to the respective participants' accounts within the Predictify platform.

8. Withdrawal of Funds:

Users can initiate withdrawals of their winnings or remaining funds at any time. Predictify interacts with the smart contracts to process the withdrawal requests and transfer the funds to the users' connected Cardano wallets.

Throughout the implementation, Predictify ensures that the smart contracts handle the management of the betting pools, secure fund transfers, and accurate distribution of winnings. The utilization of smart contracts on the Cardano blockchain enhances the platform's security, transparency, and trustworthiness.

Smart Contract Implementation:

1. Prediction Pool Contract:

The Prediction Pool Contract is responsible for managing the prediction competition and handling the management of user deposits and rewards distribution. It includes functions to initiate a prediction competition, update the competition details (such as the question, options, and expiry date). When users place prediction orders, they make a deposit to the Prediction Pool Contract. The contract tracks the contributions made by each user and keeps a record of the total pool size. It also interacts with the Prediction Oracle Contract to retrieve the competition details and verify the winning outcome.

2. Reward Distribution Script:

Once the prediction deadline is reached, a reward distribution script is executed. This script pulls data from external oracles (such as UMA and Chainlink) to determine the outcome of the prediction competition. It also queries the Prediction Pool Contract to fetch the contributions made by users. Based on the winning outcome, the script calculates the distribution of rewards and updates the Prediction Oracle Contract with the updated prediction competition data, including the winners and their respective rewards.

Overall, the implementation of smart contracts in the Predictify prediction platform enables the automation and secure execution of prediction competitions, user contributions, and reward distributions. These contracts ensure fairness and transparency while leveraging external oracles for accurate outcome verification.

Go to market strategy:

1. Trend Monitoring and Curation: We will setup a dedicated team to actively monitor and curate prediction markets based on trending topics, memes, and viral content. This team will stay updated on the latest internet trends, social media buzz, and popular culture references.
2. Agile Market Creation: The team will swiftly creates prediction markets that reflect current trends. These markets can cover predictions related to viral memes, popular influencers, trending news stories, and other relevant cultural phenomena. By constantly refreshing the available markets, Predictify ensures that users have a continuous stream of exciting and timely prediction opportunities.
3. Influencer Partnerships: Predictify will collaborate with influencers and content creators who have a strong following and are known for their association with trending topics. These influencers can promote Predictify's prediction markets through sponsored content, challenges, or engaging interactions with their audience. This strategy leverages their reach to attract users interested in the associated trends.
4. Memes and Viral Challenges: Predictify will incorporate meme-based prediction markets and viral challenges to tap into the internet culture and encourage user participation. By creating markets based on popular memes or challenging users to predict the next viral sensation, Predictify generates excitement and fosters a sense of community among its users.
5. Gamification and Rewards: Predictify will implement gamification elements, such as leaderboards, badges, and rewards, to incentivize user engagement. Users can earn additional in-game tokens or exclusive rewards by participating in markets related to trending topics or successfully predicting viral content outcomes.

How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

The proposal addresses several key challenges and brings significant benefits to the Cardano ecosystem:

1. Creation or improvement of different products: Prognosis introduces a diverse range of prediction markets across various categories, enhancing the user experience and attracting prediction enthusiast

2. Integrations with other existing services, products, and protocols: Prognosis leverages Cardano's POS architecture and smart contracts to provide a secure and transparent prediction market platfor

3. Solving a key problem or issue: Prognosis's no-loss model addresses the risk of losing invested funds in prediction market

Impact on the Cardano ecosystem:

1. Increased adoption and usage of Cardano: Prognosis's user-friendly interface and accessible prediction market platform attract users with varying technical expertis

2. Enhanced reputation and trust in Cardano: Prognosis's integration with Cardano showcases the platform's trust in the capabilities and infrastructure of Cardan

3. Financial gains and benefits for users: Prognosis provides users with the opportunity to earn rewards through accurate prediction

In summary, Predictify's prediction market platform, powered by Cardano, enhances the user experience, addresses the risk of losing funds, and promotes wider adoption of Cardano. The integration with Cardano ensures security and transparency, while the potential for financial gains provides additional incentives for users. These factors collectively contribute to the growth and development of the Cardano ecosystem.

How do you intend to measure the success of your project?

To measure the success of Predictify, several key performance indicators (KPIs) can be utilized. Here are some potential KPIs that can be used to assess the project's success:

1. Number of registered users: This metric indicates the growth of the user base and can reflect the attractiveness and adoption of the Prognosis prediction market platfor

2. Number of unique wallets: Tracking the number of unique wallets connected to the Prognosis platform provides insights into the level of engagement and participatio

3. Volume of prediction markets: Monitoring the volume of prediction markets hosted on the Prognosis platform can indicate the platform's activity and popularit

4. Transaction volume: Measuring the total transaction volume within the Prognosis platform indicates the level of user activity and participatio

5. Redeemed tokens for ADA: Tracking the number of in-game tokens redeemed for ADA from the rewards pool can demonstrate the value users derive from their participation in prediction activitie

6. External partnerships and integrations: Tracking the number of partnerships and integrations with external services, products, or protocols can demonstrate the platform's ability to collaborate and expand its reac

7. Social media engagement: Monitoring social media platforms for user engagement, including likes, shares, comments, and user-generated content, provides an indication of the platform's visibility, reputation, and user enthusias

By regularly tracking these KPIs and comparing them over time, the success and growth of the Predictify project can be assessed. These metrics provide insights into user adoption, engagement, satisfaction, and the overall impact of the project within the Cardano ecosystem.

Please describe your plans to share the outputs and results of your project?

We have an innovative and creative approach to sharing the outputs and results of our project, aiming to engage and inform the community in exciting ways. Here are some of our plans:

1. Prognosis Community Blog: We will maintain an active and engaging community blog where we share regular updates, project milestones, and insights into the development proces

2. Social Media Engagement: We will leverage social media platforms to share our project's outputs and result

3. Interactive Community Engagement: We will host AMA sessions, Twitter Spaces, and collaborate with influential figures in the prediction market and blockchain spac

By implementing these creative approaches to sharing outputs and results, we aim to foster an engaged and informed community around our project. We believe that transparency, collaboration, and active communication are crucial in building trust and creating a vibrant ecosystem for the future of prediction markets on Cardano.

What is your capability to deliver your project with high levels of trust and accountability?

Our team has the capability to deliver the project with high levels of trust and accountability based on the following factors:

Technical Expertise: Our team at Nucast Labs have extensive technical expertise, having over 30+ years of combined industry experience. Our team's capabilities extend to various areas such as product development, Marketing, backend development, DevOps, UI/UX design, and expertise in Cardano. With a well-rounded skill set. Our deep understanding of blockchain technology, finance, and building scalable applications enables us to handle the challenges of building a prediction market platform.

Proven Track Record: We have a strong track record of successfully delivering projects in the web3 and entertainment domains. One such success story is nucast.io, which showcases our ability to design, develop, and deploy secure and scalable solutions. This track record instills confidence in our ability to deliver a reliable and high-quality prediction market platform.

Accountability Measures: We prioritize accountability throughout our project delivery process.

Regular Updates: We are committed to providing regular updates on the project's progress and key performance indicators (KPIs) through our Medium blog. This transparent approach ensures that stakeholders are well-informed about the project's milestones, achievements, and metrics.

Community Engagement: We actively engage with the Cardano community through various channels such as Twitter spaces, town halls, and AMAs (Ask Me Anything sessions). By fostering open communication and engaging with the community, we address questions, gather feedback, and ensure that stakeholders' voices are heard and considered.

By combining our technical expertise, successful track record, and accountability measures, we are confident in our ability to build a robust and trustworthy prediction market platform. We value the trust placed in us and are committed to delivering a solution that meets the highest standards of quality and reliability.

What are the main goals for the project and how will you validate if your approach is feasible?

Main Goals for the Project:

1. Platform Development: The primary goal is to build a robust and user-friendly prediction market platfor

2. No-Loss Model: The project aims to onboard a fresh crowd of users by leveraging the unique selling proposition (USP) of a no-loss mode

3. Marketing Excellence: The project aims to establish itself as a top player in the marketing game within the prediction market spac

Validation of Feasibility:

To validate the feasibility of the approach, the team will use a combination of methods:

1. Technical Analysis and Testing: The team will conduct rigorous testing of the protocol to ensure its functionality and scalability to handle the expected volume of transaction

2. User Experience Testing: Close beta waves will be conducted to gather user feedback on the platform's UI and U

3. Market Research and Analysis: Market feasibility will be assessed through comprehensive research and analysi

4. Financial Analysis: A detailed financial analysis will be conducted to assess the project's sustainability and profitabilit

By employing these methods of validation, the team will ensure the project's feasibility and set the foundation for successful execution. Continuous monitoring, evaluation, and adaptation will be key to ensure the project's alignment with the goals of the Cardano ecosystem and its potential for success.

Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Timeline for Delivery:

Build the Protocol:

Milestone 1: Protocol Design and Architecture (4 weeks)

• Week 1-2: Define the architecture and design of the prediction market protocol.
• Week 3-4: Get started with key components, such as smart contracts, oracle integration, and user interactions.

Milestone 2: Smart Contract Development (8 weeks)

• Week 5-12: Develop and thoroughly test the smart contracts for prediction market functionalities.
• Week 9-12: Implement the no-loss integration feature, ensuring the security and protection of user funds.

Milestone 3: Oracle Integration (4 weeks)

• Week 13-16: Integrate reliable external data oracles to fetch and verify prediction outcomes.
• Week 14-16: Implement mechanisms to ensure transparency and accuracy in outcome determination.

Milestone 4: Fiat Integration (6 weeks)

• Week 17-22: Investigate and integrate fiat currency options for users to participate in prediction markets.
• Week 20-22: Collaborate with payment processors or platforms to enable seamless fiat transactions.

Marketing:

Milestone 1: Marketing Strategy and Planning (3 weeks)

• Week 1-3: Conduct market research to identify target audience and competition.
• Week 2-3: Develop a comprehensive marketing strategy and roadmap based on key trends, memes and viral content.

Milestone 2: Branding and Messaging (2 weeks)

• Week 4-5: Create a strong brand identity for the Predictify platform.
• Week 5: Craft compelling messaging that communicates the unique features and benefits of the platform.

Milestone 3: Content Creation and Social Media Engagement (ongoing, with regular updates)

• Week 6 onwards: Produce engaging and informative content, including blog posts, videos, and infographics.
• Week 6 onwards: Develop a social media strategy to reach and engage with the target audience.

Milestone 4: Influencer Partnerships and Collaborations (ongoing, with collaborations scheduled throughout the project timeline)

• Week 6 onwards: Identify and collaborate with influencers and thought leaders in the prediction market and cardano space.
• Week 6 onwards: Leverage their reach and expertise to amplify the project's visibility and promote the platform.

Please note that the timeline provided is an estimate and subject to change based on various factors, such as the complexity of development, testing, and external dependencies. Regular monitoring and adjustment will be implemented to ensure timely delivery of milestones and project success.

Please describe the deliverables, outputs and intended outcomes of each milestone.

Build the Protocol:

Milestone 1: Protocol Design and Architecture

• Deliverables: Detailed protocol architecture document, specifying the components, interactions, and data flow of the prediction market protocol.
• Outputs: A clear understanding of the protocol's structure and design, providing a foundation for the development phase.
• Intended Outcomes: A well-defined protocol that ensures efficient and secure prediction market functionalities.

Milestone 2: Smart Contract Development

• Deliverables: Fully developed and tested smart contracts for prediction market functionalities, including features such as betting, outcome determination, and fund protection.
• Outputs: Functional smart contracts that integrate seamlessly with the Cardano blockchain and enable users to participate in prediction markets securely.
• Intended Outcomes: A reliable and transparent prediction market platform that ensures the accurate execution of bets and protects users' funds.

Milestone 3: Oracle Integration

• Deliverables: Integration of external data oracles to fetch and verify prediction outcomes, ensuring the integrity and accuracy of the results.
• Outputs: A robust oracle integration mechanism that fetches data from reliable sources and validates prediction outcomes with transparency.
• Intended Outcomes: Transparent and trustworthy prediction market outcomes, enhancing user trust and confidence in the platform.

Milestone 4: Fiat Integration

• Deliverables: Integration of fiat currency options, enabling users to participate in prediction markets using traditional currencies.
• Outputs: Collaborations with payment processors or platforms to facilitate seamless fiat transactions within the prediction market platform.
• Intended Outcomes: Increased accessibility and user adoption by allowing participants to engage in prediction markets using their preferred fiat currencies.

Marketing:

Milestone 1: Marketing Strategy and Planning

• Deliverables: Comprehensive marketing strategy and roadmap document, outlining target audience, competition analysis, marketing channels, and promotional activities.
• Outputs: A well-defined marketing plan that aligns with the project's goals and effectively reaches the target audience.
• Intended Outcomes: A clear roadmap to guide marketing efforts, ensuring maximum visibility and user acquisition.

Milestone 2: Branding and Messaging

• Deliverables: Established brand identity, including logo, visual assets, and key messaging elements that effectively communicate the platform's unique features and benefits.
• Outputs: Consistent branding across various marketing channels, creating recognition and reinforcing the project's value proposition.
• Intended Outcomes: A strong and appealing brand identity that attracts and resonates with the target audience.

Milestone 3: Content Creation and Social Media Engagement

• Deliverables: Engaging and informative content, including blog posts, videos, infographics, and social media posts, that educates and engages the community.
• Outputs: Regularly updated content on various platforms, fostering community engagement and increasing brand visibility.
• Intended Outcomes: Increased brand awareness, user engagement, and platform adoption through informative and captivating content.

Milestone 4: Influencer Partnerships and Collaborations

• Deliverables: Collaborative efforts with influencers and thought leaders, including joint webinars, guest blog posts, interviews, and social media collaborations.
• Outputs: Amplified reach and exposure through partnerships, leveraging the expertise and audience of influencers in the prediction market and blockchain space.
• Intended Outcomes: Increased visibility, user acquisition, and community engagement through influencer endorsements and collaborations.

These deliverables, outputs, and intended outcomes for each milestone contribute to the overall success of the project by ensuring a robust protocol, effective marketing strategies, and a thriving community of users engaged in the prediction market platform.

Please provide a detailed budget breakdown of the proposed work and resources.

Detailed Budget Breakdown:

1. Build the Protocol:

• Protocol Design and Architecture: 33,333 ADA
• Smart Contract Development: 83,333 ADA
• Oracle Integration: 33,333 ADA
• Fiat Integration: 33,333 ADA

1. Marketing:

• Marketing Strategy and Planning: 16,666 ADA
• Influencer Partnerships and Collaborations: 16,666 ADA

1. General Expenses:

• Legal and Compliance: 16,666 ADA
• Hosting and Infrastructure: 3401 ADA

1. Contingency: 16,666 ADA

Total Budget: 253,397 ADA

The budget breakdown allocates the proposed budget of 253,397 ADA across the different project components and resources required for successful implementation. It covers the development of the protocol, marketing activities, general expenses, and includes a contingency fund to account for any unforeseen circumstances or additional requirements that may arise during the project.

The budget ensures that there are sufficient resources allocated to each milestone, for paying skilled developers, marketing professionals, and covering other necessary expenses. It also accounts for legal and compliance requirements, hosting and infrastructure costs, and provides a contingency fund to address unexpected challenges or opportunities that may arise during the project timeline.

Who is in the project team and what are their roles?

Project Team:

Adnan Khan (Project Lead)

Adnan is an experienced professional in the web3 domain with a strong track record of assisting early-stage startups in building MVPs, managing communities, securing grants, and achieving scalability. His expertise lies in data analytics and web3 development, with a particular focus on on-chain analytics.

Currently, Adnan serves as a research analyst at GravityX Capital, a prominent web3 institutional fund. He has actively collaborated with leading web3 ecosystems and startups such as dYdX, Polygon, Frontier, Bullieverse, among others. Additionally, Adnan is also a three-time Catalyst winner, having completed and closed all three proposals successfully.

Mallikarjun Susarla (Front End Lead)

Mallikarjun is our lead front-end lead with 6+ of professional experience dealing with front-end technologies. Well-versed with popular javascript frameworks and libraries like Vue.js, React.js, Embed.js, etc. He has worked as a lead frontend developer at Findem technologies with 7 years of experience experience in building top-notch products from scratch.

M. Fayaz (Back End and Smart Contracts Lead)

Fayaz is a seasoned full-stack developer at Nucast Labs, with over 4 years of valuable experience in backend development and specialized knowledge in Cardano smart contracts. With a strong passion for building scalable decentralized applications, Fayaz's expertise shines in his ability to lead full-stack teams and implement robust smart contract solutions on the Cardano blockchain. Having previously spearheaded the development of numerous successful Cardano Dapps at Adaxon Pte Ltd

Suprith Shetty (Overall marketing lead, Strategy)

Suprith is our brand and marketing strategist with about 6 years of experience in Digital Marketing, Campaign Management, Brand Development, and Content Development. He has worked with leading product based companies in India and currently working as a product marketing manager in A.P. Moller, Denmark.

Rahul Biswas (UX/UI Designer)

Rahul Biswas, the extraordinary UI/UX designer at Nucast Labs, is an absolute force to be reckoned with. With a remarkable track record of over 4+ years in the industry, he is a true visionary when it comes to crafting stunning user interfaces and ensuring seamless user experiences. His incredible portfolio showcases a multitude of live projects for prestigious companies, where he has breathed life into their products, making them not only visually appealing but also incredibly user-friendly.

Nucast Labs : Successfully built various scalable Cardano dapps. Nucast is proud to host a highly skilled and experienced development team of 15+ members with over 30 years of combined industry experience.

How does the cost of the project represent value for money for the Cardano ecosystem?

• Innovation and Utility: The project's implementation of the no-loss model brings innovation and utility to the Cardano ecosystem, providing a unique and secure experience for users in prediction markets.
• Ecosystem Growth: By building a functional prediction market platform on Cardano, the project contributes to the growth and expansion of the ecosystem, attracting new users and increasing overall network activity.
• Mass Adoption Potential: The project's unique no-loss model reduces investment risks and makes prediction markets more accessible to a wider audience, potentially driving mass adoption of the Cardano ecosystem and positioning it as a leader in the blockchain industry.