Duckbot
Building a prediction market Telegram bot that lets users bet on real-world events directly within the app. Utilizing blockchain for transparent and verifiable outcomes, ensuring fairness and security. Bet, track, and win – on-chain!
Project Description
The bot operates a prediction market, where users can wager on the outcomes of events (e.g., sports games, elections, crypto prices).
Predictions are created for a specific event, and users place their bets by interacting with the bot via Telegram messages.
Each prediction market has a closing time (after which no more bets are accepted) and a resolution time (when the outcome of the event is known and winners are determined).
Furthermore, users can explore the chain, inspect users and send funds to any wallet, all of which are conducted on the telegram interface
How it's Made
We’re currently building on AirDAO with a unique architecture that leverages both on-chain and off-chain technologies for seamless integration. The project primarily revolves around a Telegram bot, which acts as the user interface for prediction market interactions.
Technologies Used & Architecture: Telegram Integration: The bot is the primary gateway for users to engage with the platform. We’ve used the Python-Telegram-Bot library to manage conversations, group alerts, and interactions. It facilitates wallet management and placing predictions in a user-friendly way.
Wallet Generation & Encryption: On the backend, we generate and manage wallets server-side. To ensure security, we implemented AES-256 encryption for wallet keys, ensuring that neither the bot nor any other third party has access to the server-side keys. This encryption process is fully transparent to the user, providing security without compromising user experience.
Off-Chain Matching Engine: We’ve designed an off-chain matching engine for prediction markets, which operates like a central limit order book. It handles the matching of predictions to streamline execution without the bottleneck of on-chain latency. This was a critical design decision for ensuring low-latency, high-throughput trading.
Partner Technologies: Building on AirDAO's Layer 1 infrastructure gave us access to its secure blockchain and token management capabilities. The decentralised nature of the platform allowed us to create a secure, transparent system for users to engage with the prediction market.
