A repo for immutableX hackathon

Xpulse is prediction infrastructure for engaging communities. We enable communities to create wagering pools for events with discrete outcomes such as matches, DAO proposals and markets. Users place predictions using tokens incl. project-native tokens, boosting a project’s utility and engagement.

Xpulse is a prediction infrastructure, with plug-and-play capabilities enabling communities to predict outcomes of events with discrete results. For example, Game developers can quickly and easily create a binary feed - 0 if the proposal has not been met or 1 if it has been met - and allow players to wager their tokens. At the time of the proposal's expiry, players who predicted the incorrect outcome will have their deposits redistributed to the winners. During a proposal's lifetime, there are two periods: the depositing phase and the trading phase. In the depositing phase, players place predictions on the outcome of the game and are minted a dynamic NFT to demonstrate the position. During the trading phase, prediction creation is prohibited and, as more information is obtained, players can assume other players' positions by purchasing their NFT at a potentially discounted rate. This enables asymmetrical risk-adjusted returns to be realized for the buyer should they make a correct prediction, as they will be able to claim based on the face value of the NFT. After the result is realized, we change the metadata of the NFT to enable the claim of pools as well as record tracking, which could serve as a token-gate to gain access to events and permission communities. For our MVP, we curated the Ethereum pool, and based on the price of ETH players are able to make predictions, at the moment we utilize Etherscan API and in the future, we will verify data on-chain to validate predictions.

In today’s event prediction markets, users do not have the ability to trade open positions on any markets. A user that wishes to cash out on a likely win before the chosen strike date has no incentive nor ability to do so. The same is true for the flip side, where a likely loss cannot be cashed out to mitigate losses. Xpulse aims to solve this problem by inspiring a liquid marketplace for buying and selling existing positions made through our proprietary platform. For a given wagering pool, users have a limited depositing period at the start of the pool creation. After this, new predictions are blocked, with users wishing to partake being redirected to ImmutableX’s marketplace where they can buy or sell NFTs from initial wagerers that represent a right to a bet in a closed pool. This allows an efficient market to price in the probabilities of a given event happening as the strike date approaches. Most event prediction platforms today are also scarcely integrated with other apps, as they provide little value add-ons. Our platform boosts community engagement as users are incentivized to keep a close eye on event results should they be interested in participating in our predictions, furthermore expired NFTs could serve as keys to access token-gated communities and events, increasing community stickiness. As a combination of our unique enabled points, we are more likely to overcome the cold start liquidity problem for prediction markets, hence achieving meaningful liquidities and kick-starting flywheel effects to build a network for prediction participants.

IMX’s ability to enable gas-free NFT minting allows us to foster user participation by removing potentially prohibitive fees, and as IMX’s NFTs are dynamic, it enables us to perform a variety of additional utilities to our NFTs. This could, for example, include functionalities such as adding prediction profit and losses that change based on realized results or player track records that could token-gate for community purposes. Having the intrinsic IMX marketplace built in allows our users to better trade their NFTs in the trading phase, which is a key mechanic in keeping our targeted communities engaged. Furthermore, Immutable X has a host of high-quality games, each of which could be integrated with Xpulse in the future. With the immutable passport recently launched we could only imagine the integration to become even smoother in the near future. In addition, the L2’s carbon neutrality is extremely important for the long-term viability of the project. As the environment degrades, it is the responsibility of businesses to ensure that new technologies are being ethically distributed.

Our smart contract (prediction pool) governs the logic for prediction our pool and is deployed on Goerli Layer 1 (governs the logic for placing predictions, and paying out winners as well as revenue flows), while our NFT smartcontract (which is minted from the backend when the user makes a bet) is deployed on L2 IMX (using ImmutableX sdk, called from our node backend). IMX is crucial for our NFT smart contract deployments as it allows for us to integrate dynamic NFTs as well as low minting fee (which is important for scalability of the potential of number of bets on a given pool). The dynamic gas-less NFTs enables our prediction positions, and hence stays as a core functionality of our application for future application in a secondary market where users coul…

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