BetMeme
Betmeme is a DeFi protocol that solves liquidity issues and increases the value of Meme coins and NFTs through an easy-to-use prediction game within familiar social media platforms.
Demo
About
The problem it solves BetMeme addresses two major challenges in the DeFi and crypto space **Liquidity Issues:** Meme coins and NFTs often suffer from low liquidity, making it difficult for users to trade or realize their value. BetMeme implements token burning and redistribution mechanisms to enhance liquidity. **User Engagement and Accessibility:** Engaging with DeFi platforms can be complex and intimidating for new users. BetMeme simplifies this by integrating a user-friendly prediction game within the familiar Warpcast social media app, allowing users to easily participate in on-chain transactions and betting games. This integration promotes higher engagement and broader adoption. # Betmeme Summary **Network** Utilizes the Base Network for high TPS and high participant-rate via the Warpcast with an easy-to-use featured prediction game, and is compatible with EVM as well. **Objective** To secure liquidity and increase the value of Meme coins and NFTs. **Key Features** - Increases token value through a price prediction game. - Solves liquidity issues with burning and redistribution mechanisms. **Web3 based prediction game integrated with the Social media, Warpcast** - Creates an unique data-set especially formed as the Frame using Farcaster, and utilizes it on the Warpcast. - Allows users to create posts in the Warpcast app by pasting the URL. - Enables on-chain transactions and rewards within the social media channel, for the first implement, the Betmeme provides benefits to winners, those who won on the betting game based on price. - Users can easily and conveniently engage in betting games and experience everything within the social app. Betmeme is an DeFi protocol that allows users to easily participate in betting within familiar social media platforms, driving demand for Meme coins and NFTs while addressing liquidity issues. The key point is that users can experience on-chain transactions and all related activities conveniently within the social app.
How it's made
Challenges we ran into ### Challenges and Solutions 1. **Contract Authorization for Betting** When using contracts for betting, We are encountered an issue where the contract did not have the authority to send tokens. This was resolved by granting the necessary permissions through the **approve** function. 2. **Creating Frames in Farcaster** We are struggled initially with creating frames in Farcaster, but by referring to the **frog** library and its documentation, Was able to successfully build the frames. 3. **Exposing Data via URL** There was a hurdle in exposing all data in the frame via URL. Our overcame this by structuring the data properly, ensuring all necessary information could be accessed through the URL.