Donut betting/prediction idea 🍩🍩🍩

I thought of an idea for donuts: Donut betting (on ETH price).

Basically there can be two bets: bullish or bearish. People can pool their donuts into a pool and make a bet (say 200 donuts).

It can be daily, weekly or whatever time period people want. For daily, to win in the bullish bet, ETH price has to be higher than the previous day (at a specific time).

Whichever group wins, they will get back their donuts + the donuts of the other group. (Divided proportionally to their bets).

So basically the rewards are funded by those who bet on the “losing side”. There is no need to mint donuts specifically for this.

There can be some burn 🔥built in as well. Maybe 5% of the losing group’s donuts can be burnt, or put into some kind of community fund, for example.

Not sure if Reddit allows betting, we can always change it to a nice name like “prediction” or “guessing”. 😹

What do you think?

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  1. Thoughts on this?

    I’m not a Solidity developer so don’t know if this is easy/possible to implement. 😹

    I think this can encourage usage of donuts or even people buying donuts specifically to play this game.

    Most of us are bullish of course, but I think recently there are sufficiently bearish people to form a group as well. 😹

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