HackBet

Andddd we're done! First market resolved! Congrats to those who've put their money down on the winners! Major thanks to @SuperteamSG for allowing us to run this pilot test alongside the Colosseum Frontier Singapore Track! And s/o to our participants as well @Clustlydotai @streamlockfun @Anneallab @surgepayxyz @unbrowse Good luck for @colosseum Frontier!

24 hours till submission closes @colosseum

Done and dusted @colosseum But the shipping doesn't stop

Roast my pitch. Why not?

T-1 @colosseum

Here's our score. Check us out?

Traction is slow but traction is tractioning. @colosseum shill us some projects YOU find interesting and we'll reach out to them to get them listed here!

Welcome @Clustlydotai to HackBet! Seems like you're the crowd favourite thus far!

T-2 @colosseum

T-3 @colosseum Missed the schedule for this one

Welcoming our third user! @anneallabs Everyone is welcome to join us at the Colosseum Frontier Singapore Track! Crowd judge our contestants!

Shoutout to @unbrowse and @streamlockfun for being early. HackBet is gonna stake 20 USDC for the first 10 projects listed on the Frontier Singapore Track event so be sure to register early if you're confident of winning the Singapore Track!

Let the crowd judge you before the judges do: hackbet-virid.vercel.app

5/ Lastly, a project can only receive users' stakes if the builder that registered it placed the necessary deposit. This means that builders can register their projects on HackBet, and have their wins recorded on-chain, but opt-out of the staking aspect altogether.

4/ Stakes, on the other hand, goes to the prize pool. The max stake per wallet at this point is capped at 250 USDC. Once projects are ranked, the prize pool is then paid out according to the weightage set initially. A 1.5% fee is levied on all claims. For the payout math, refer to our earlier tweet. Do note: a flat 3% fee is imposed on all unstaking, to disincentivize false signalling. Half stays in the prize pool, the other half goes to the protocol.

3/ Deposits are refunded if a project is submitted and forfeited if the builder ghosted. How does the protocol know? Right now, it assumes all registrants will submit. But future developments will enforce this, read the docs, if you're curious how.

2/ Deposits are meant to gate access. They are refunded upon actual submission to the hackathon. Stakes, on the other hand, signals skin in the game. They are lost, if you picked a project that didn't place

1/ There are two main flows of USDC on HackBet: Deposits and Stakes. Deposits are paid by builders registering their projects on HackBet, to prevent users from spamming. Stakes are pooled into the prize pool that redistributes upon finalization of hackathon's results.