ChilliBites

ChilliBites is building the future of fan engagement and community belonging through Social Media and DeFi. We have used "Chilliz blockchain" to showcase the benefits ChilliBites protocol can bring to emerging tokens and communities ecosystems.

ChilliBites is a protocol that allows any club in the Chilliz ecosystem to publish a frame on Farcaster where fans can support their teams by staking USDC before each match.

This frame also allows Clubs to strategically manage their fantoken by burning a certain amount in the event they win the match.

This means that, in the event their team wins the match, the yield generated from both teams' stakes is distributed among the winning team's stackers and the Fantokens are automatically burnt.

This is all done in just 2 clicks, abstracting users from the whole web3 underlying process. The user will automatically receive their stacked amount and APY without any further actions.

Both capabilities add excitement and a sense of community among fans from both small and big clubs. This way ChilliBites does not only expand the adoption of Fantokens beyond the Chilliz ecosystem, but also provides further DeFi utility to Fantoken.

This lossless protocol provides more immersive and rewarding community experiences to other ecosystems in esports, gaming and other competitions. It helps to increase its adoption and visibility across both native and non native web3 users

We've developed a Farcaster frame enabling users without wallets to participate in contracts by staking. This is facilitated through Dynamic Embedded Wallets, which are automatically created for users and linked to their FarcasterID. Once set up, the stake is sent to a contract using Safe's smart Account contracts, with the Pimilico relayer subsidizing the transaction costs. These staked tokens are then deposited on Uniswap within the Arbitrum blockchain to generate yield.

Upon the conclusion of a match, the outcome is automatically fed into the contracts using Chainlink functions to determine the winner and distribute the funds. All funds are returned to the users, and the generated Annual Percentage Yield (APY) is divided among the winning team, the creator of the opportunity.

The yield generated is then transferred to the Chiliz network via the Hyperlane bridge to burn Fan tokens on the destination chain. This action reduces demand and increases the price of the tokens.