InvestRight

Key Features:

1. Identity Verification with World ID

Technology Used: Worldcoin's World ID

Purpose: Securely verify user identities to ensure that all participants are genuine, fostering trust and credibility.

Process:

• Users register on the platform using World ID for identity verification.
• This verification ensures that only real users can participate in predictions and attestations, reducing fraud and enhancing platform integrity.

1. Social Casting with Farcaster

Technology Used: Farcaster

Purpose: Utilize a decentralized social network protocol for posting and sharing crypto price predictions.

Process:

• Predictors create "casts" (posts) on Farcaster with their crypto price predictions and detailed reasoning.
• Only metadata about the prediction is initially visible: predictor's name, staked amount, prediction accuracy, number of predictions, usefulness index, and attestation counts (positive, negative, not useful).

1. Engagement Through Frames

Technology Used: Frames by Farcaster

Purpose: Enhance user interaction with predictions through actionable buttons and a seamless user experience.

Process:

• Each post includes a "View" button, which triggers a smart contract payment to view the full prediction content.
• After reviewing the prediction, users can attest to its potential accuracy with options: positive, negative, or not useful.
• Attestation buttons are also part of the frame, allowing users to stake tokens based on their assessments.

1. Peer-Reviewed Attestations with EAS

Technology Used: Ethereum Attestation Service (EAS)

Purpose: Facilitate secure and transparent peer-reviewed attestations of predictions.

Process:

• Peers review predictions and attest their views, recorded immutably on the blockchain.
• Attestations can include a stake, with users betting on the accuracy or usefulness of predictions.

1. Staking and Rewards

Purpose: Encourage accurate predictions and validation through a financial incentive model.

Process:

• Predictors and attesters stake tokens when making predictions or attestations.
• Successful predictions and accurate attestations result in rewards distributed from the staking pool.
• Incorrect predictions and faulty attestations may lead to penalties, encouraging honest and accurate participation.

1. Public Access with Entry Fees

Purpose: Monetize access to high-quality predictions while increasing the reward pool.

Process:

• Casual users or investors can access full predictions by paying an entry fee.
• This fee contributes to the staking pool, enhancing the rewards for successful predictors and attesters.

1. Reputation System

Purpose: Build trust by reflecting users' history of accurate predictions and useful attestations.

Process:

• Users earn reputation scores based on their prediction accuracy and attestation quality.
• Higher reputation scores increase credibility and influence in the platform, incentivizing quality contributions.

Technical Architecture:

Smart Contracts:

Purpose: Manage predictions, staking, and reward distribution transparently.

Components:

• Prediction Contract: Records predictions, metadata, and initial stakes.
• Attestation Contract: Manages attestations, stakes, and validation outcomes.
• Reward Contract: Distributes stakes based on prediction accuracy and attestation results.

Features:

• Automatically handle payments for viewing predictions.
• Record prediction data, stakes, and price feeds.
• Distribute rewards and penalties based on outcomes and consensus.

Integration with Technologies:

Worldcoin (World ID):

Role: Provides decentralized identity verification.

Integration: Ensures only verified users can participate, enhancing trust and reducing spam or fraudulent activity.

Pyth Network:

Role: Supplies real-time crypto price feeds.

Integration: Provides accurate price data for validating predictions, ensuring reliable outcome assessments.

Ethereum Attestation Service (EAS):

Role: Facilitates secure and transparent attestations.

Integration: Records peer reviews and stakes, supporting a robust validation process.

Steps Explained:

1. User Registers with World ID: Users sign up and verify their identity using Worldcoin's WorldID to ensure credibility.

2. User Posts Prediction on Farcaster: Predictors make their crypto price predictions on Farcaster, staking their tokens and providing reasoning.

3. Meta Data Visible: Only the meta information (predictor's name, staked amount, accuracy, etc.) is visible initially.

4. View Button Clicked: Interested users click the "view" button to see the full prediction.

5. Payment via Smart Contract: Payment is processed through a smart contract to access the prediction.

6. Prediction Post Visible: After payment, the full content of the prediction post becomes visible to the viewer.

7. Viewer Evaluates: Viewers read and assess the prediction.

8. Viewer Attests: Positive, Negative, Not Useful: Viewers can attest to the prediction’s potential accuracy or mark it as not useful.

9. Staking in Attestation: While attesting, viewers can also stake their tokens based on their attestation.

10. Store Attestations in EAS: All attestations are recorded in the Ethereum Attestation Service for transparency and integrity.

11. Smart Contract Ties Attestation to Prediction: The smart contract links all attestations to the respective prediction.

12. Pyth Network Provides Real-Time Crypto Prices: The Pyth network supplies accurate, real-time crypto prices to validate the predictions.

13. Check Prediction Accuracy on Due Date: On the predetermined date, the system checks the accuracy of the predictions against actual prices.

14. Correct Predictions: Distribute Stakes: If predictions are correct, the smart contract distributes the stakes to the predictors and those who attested positively.

15. Update User Reputation: Users’ reputations are updated based on the accuracy of their predictions and attestations.

16. Incorrect Predictions: Penalize: Incorrect predictions result in penalties, with stakes possibly forfeited or redistributed according to the platform's rules.

Impact:

Human Insights:

Encourages detailed reasoning and storytelling, bringing in human wisdom that often lacks in automated predictions.

Increased Engagement:

Staking and attestation systems create a dynamic environment, incentivizing participation and thoughtful analysis.

Transparency and Trust:

Decentralized identity verification, peer-reviewed attestations, and a reputation system foster trust and credibility in the platform.

Market Potential:

Provides a go-to hub for reliable crypto market insights, combining expert predictions, peer validation, and investment opportunities.

Conclusion:

This decentralized crypto price prediction platform is set to redefine how predictions are made, validated, and rewarded. By leveraging the power of blockchain technologies like Worldcoin, Pyth, and EAS, we aim to create a trustworthy, engaging, and profitable ecosystem for crypto enthusiasts and investors.

To build this decentralized crypto price prediction platform, a combination of blockchain technologies, smart contracts, and decentralized applications (dApps) was utilized. Each component was chosen for its ability to contribute to the platform’s goals of transparency, reliability, and user engagement. Technologies Used

Ethereum Blockchain:
    Usage: Serves as the underlying technology for deploying smart contracts that handle predictions, attestations, and reward distribution.
    Benefits: Provides a secure, immutable, and decentralized environment that is crucial for maintaining trust and integrity within the platform.

Smart Contracts:
    Usage: Written in Solidity, these contracts manage various functionalities:
        Prediction Contract: Records each prediction along with its metadata and initial stakes.
        Attestation Contract: Links attestations to their corresponding predictions and manages stake outcomes.
        Reward Contract: Distributes rewards and penalties based on the outcomes of predictions and attestations.
    Benefits: Automates the operations of the platform, ensuring that transactions are processed transparently and without the need for intermediaries.

Worldcoin's World ID:
    Usage: Integrated for user registration to verify identities securely and efficiently.
    Benefits: Helps ensure that all platform participants are genuine, reducing the risk of fraud and enhancing overall trustworthiness.

Farcaster:
    Usage: Utilized as the platform for social interactions where users post their crypto price predictions.
    Benefits: Provides a decentralized social networking environment, allowing users to share and discuss predictions freely and transparently.

Frames by Farcaster:
    Usage: Implements interactive elements within the platform to engage users and facilitate easy access to prediction details through smart contract interactions.
    Benefits: Enhances user experience by simplifying the process of viewing predictions and making attestations directly within the platform interface.

Ethereum Attestation Service (EAS):
    Usage: Records attestations on the Ethereum blockchain.
    Benefits: Ensures that all user attestations are immutable and verifiable, adding an extra layer of security and reliability to the platform.

Pyth Network:
    Usage: Provides real-time, reliable price feeds for cryptocurrencies.
    Benefits: Essential for validating the accuracy of predictions against real market data, thus supporting the platform's credibility.

Integration and Architecture

The project's architecture is designed to be modular, with each technology integrated in a way that supports seamless interactions among different components. For instance, the smart contracts interact with the Farcaster protocol for posting and retrieving prediction data, while World ID integration at the entry point ensures that every user's identity is verified before they can make predictions or attestations.

The Ethereum Attestation Service (EAS) is used to link and verify each attestation made on the platform, which is crucial for maintaining a transparent record of user interactions and their outcomes.