Updated 77 days ago

Prophet

Simple decentralized prediction market on TON

  • Crypto / Web3
  • Defi
  • TON
Members 4
Team info →
github.com/mister-burn/prophet-contracts
t.me/Prophet_ton_bot
youtube.com/watch?v=P6vqvr4cwg8
@prophet_ton

Try Prophet MVP in Telegram Mini App
Game Rules

Contents

Introduction | Key features | Variety of Modes | Source of asset prices | GameFi and SocialFi components | Utility token and Revenue sharing | How Prophet benefits TON | Implemented features | The following steps | Project repositories | Useful links

Introduction

DeFi in general and TON in particular have barriers that appear frustrating to new users. In addition to complicated concepts such as impermanent losses when providing liquidity and difficult services such as lending protocols and futures DEXes, there are issues with complicated and misleading UIs and a lack of DeFi tools that are reasonable to use without having a large capital.

Following The Open Network's mission to attract as many new users as possible to crypto via Telegram, we offer a viable solution and a DeFi tool that is completely new to the blockchain — Prophet Protocol.

213124.png

Key features

  • Telegram Mini App with user-friendly UI: just 2 buttons — up or down
  • Decentralization: the main mechanics work on-chain using Pyth Network price oracles; instant order execution and non-custodial solutions
  • Rapid 5 minute rounds
  • SocialFi & GameFi: personal stats, game history, competitive leaderboard.
  • Tokenized referral system
  • Potentially unlimited asset choice

2049.png

Variety of Modes

Several modes will be available in Prophet:

  • Versus: parimutuel, probable odds, against other users. For a round to take place, there must be bets on both sides: Up and Down. This mode is already available in MVP.
  • Solo: binary options, fixed odds, against Vault/LP. Currently under development, it will be ready with the full release of Prophet.

And more to come…

Source of asset prices

Prophet uses Storm Trade price oracles based on Pyth Network data provider. This allows to quickly get aggregated and reliable price data and also opens up the possibility of taking bets on various assets outside crypto: Forex, commodities, stocks, etc.

At the moment, bets are only available for two assets in pair to USD: TON and BTC — the asset pool will be extended further.

GameFi and SocialFi components

2052.png

333.png

The fundamental integration of TON into Telegram allows us to implement various SocialFi and GameFi mechanics. Prophet utilizes tokenized referral system, personalized game stats, competitive leaderboards and easy-to-share PNL cards and achievements to drive user acquisition.

Utility token and Revenue sharing

bg x 2.png

In April 2024 the team has launched Burncoin ($BURN) — a custom token with a deflationary mechanic unique for TON: 5% tokens are burned from each sell.

$BURN will be used as a utility token for Prophet. Holders will get additional discounts on fees, govern in the development of the project and receive a part of the protocol revenue. From each round a small percentage of payouts, as protocol fees, will go to the Prophet's treasury.

Part of the protocol fees will be distributed among $BURN stakers, another part — among the liquidity providers. Also, part of the funds will be used as a prize pools for the community activities.

Burncoin has already shaped a loyal and passionate community — members will be the first to get access to Prophet app.

How Prophet benefits TON

Despite its simplicity, Prophet shows all the advantages of DeFi and is appealing to the experienced audience as well:

  • A great starting point for diving into DeFi on TON
  • Suitable for users with any experience and capital
  • Transparent risk/reward
  • Similar protocols on other blockchains have limitations due to TPS and expensive fees. Therefore, Prophet can bring users from other blockchains to TON

During hackathon we have

  • Deployed TMA
  • Developed smart contracts and UI for Versus Mode
  • Provided TON bets for TON/USD and BTC/USD with automatic payouts
  • Developed UI design for all sections of the app
  • Made a lightweight API for indexing a real-time on-chain data
  • Integrated @Storm-Trade/sdk for price fetching
  • Integrated Pyth Network price oracles via a Storm Trade oracle payload signing
  • Integrated DTON.io GraphQL indexer service for aggregating historical contracts states

The following steps

  • Launching a full-fledged web version of Prophet
  • Expansion of SocialFi mechanics: achievements, PNL cards, win-streak - bonuses etc.
  • Solo mode (binary options, fixed odds, games against Vault/LP)
  • Revenue sharing
  • More assets (Forex, Commodities, Stocks)
  • Bets not only in TON, but also in other jettons (tsTON, USDT, NOT, etc)
  • Gasless transactions with Wallet v5
  • One click bets
  • Tournaments and season challenges with prizes
  • Partnerships and collaborations

Project repositories

Smart contracts: https://github.com/mister-burn/prophet-contracts

This repository contains smart contracts for the Prophet Protocol, a decentralized prediction market built on TON blockchain.

API: https://github.com/mister-burn/prophet-api

A code for the Indexer of the Prophet Protocol, which is used to track and store bets data

Frontend: https://github.com/mister-burn/prophet-frontend

A code for the frontend and Telegram Mini App of the Prophet Protocol

Useful links

Prophet TMA | Channel | Docs | Community | X/Twitter