Events can be created by clicking on the Create an Event button on the top-left of the QTUM Prediction or BOT Court dashboards.
Good titles will have a clear message as to what the prediction is and can be in the form of a question or a statement. Prediction events should be able to be proven based on factual information that has already taken place in the past.
Result setting is part of the Bodhi prediction flow. When the assigned result setter has the accurate information on a prediction event, they should set the result based on factual information that has already taken place. ie. In a basketball game prediction event that will predict the winner of the game, once the game is over, the result setter should set the result as the correct winning team.
The Result Setter address is the QTUM address of the assigned Result Setter. The event creator appoints a Result Setter when creating an event. During the Oracle Result Setting phase, only the Result Setter may set the result. Result Setting uses a set amount of BOT, which is similar to placing a vote with BOT. When the event is finished and the final outcome is determined, if the final outcome is the same as the Result Setter’s picked outcome, the Result Setter (along with other voters who voted on the same outcome) will split 1% of the loser’s total QTUM bets. The 1% QTUM reward will be proportionally split based on the votes on the final outcome.
Betting on events can be done in the QTUM Prediction dashboard. Click on any event, click on an outcome to bet on, enter the QTUM amount to bet, then click the Bet button.
The Result Setter should set the outcome based on factual information for events in which they are the appointed Result Setter for.
If the Result Setter does not set the result during the Oracle Result Setting Phase, the event will enter the Open Result Setting Phase where anyone may set the outcome for the same amount of BOT. This ensures that events will not get locked up and have to rely on waiting for a single person to set the outcome.
Voting can be seen as sort of a veto or correction mechanism. The purpose of a vote is to contribute to group consensus to set the actual correct outcome if the Result Setter set the wrong outcome. ie. Given the outcomes A and B, and the Result Setter set the result as the wrong outcome A. The first voting round will take place right after the outcome is set and will allow users to vote on B to correct the right outcome. In order for B to be validated and become the new outcome, the total amount of votes on B will need to reach the Consensus Threshold in the first voting round. When the Consensus Threshold has been reached, voting round 1 will be finished and voting round 2 will begin and give users the chance to vote against the current outcome B. This can continue indefinitely until users no longer choose to vote against the last round’s outcome.
The Consensus Threshold is the amount needed to validate an outcome. Currently it is a set amount at 100 BOT, but can be adjusted in the future.
Click on BOT Court, click on an event card, select an outcome to vote on, enter the vote amount, click on the Vote button.
Voting rounds have a set amount of time that allows users to try to correct the previous rounds outcome. Users must vote and reach the Consensus Threshold to correct the outcome. Voting rounds continue indefinitely until users are satisfied with the outcome and the previous round’s outcome is not challenged anymore.
The voting system is a group consensus mechanism. In the event where there is a bad actor voting on the wrong outcome, our voting system allows for the community of users to act against the bad actor. Our indefinite voting round system allows for the correction against the bad actor over time. The longer the bad actor tries to vote on the wrong outcome, the more BOT they will lose as the community can act together against them. There is Power in Numbers.
Finalizing an event is necessary to change the status of an event to the Withdrawing Phase. Winners cannot withdraw from an event until the outcome is finalized. This is necessary since the blockchain does not have time-based related changes. The changing of the status from Finalize to Withdraw has to be initiated by any user.
Click on My Activities, click on the Withdraw tab, click an event card, click on the Withdraw buttons in the list of winning addresses.
Please see the formula calculations in the bodhi-app Github repo: https://github.com/bodhiproject/bodhi-app. The BOT paid for when the result is set is treated as a vote. If the final outcome is the same outcome as the Result Setter’s set outcome, the Result Setter will win BOT and QTUM based on the formulae.
These specific functions are not currently in the Bodhi dapp and will be added in the future. In the meantime, in the top main menu > select Bodhi (or Application in Windows) > Launch Qtum Wallet. This will shutdown the Bodhi dapp and launch the Qtum Wallet. In order to run Bodhi again, you will have to shut down the Qtum Wallet.
We recommend users to encrypt the wallet with a secure passphrase. You will have to do this from the Qtum Wallet interface. https://github.com/qtumproject/qtum/wiki/Qtum-Wallet-Tutorial#wallet-encryption.
After the encryption is done, backing up the wallet data file is recommended as well. This can be done in the Qtum Wallet. https://github.com/qtumproject/qtum/wiki/Qtum-Wallet-Tutorial#wallet-backup.
Restoring your backed up wallet can be done in the Qtum Wallet. https://github.com/qtumproject/qtum/wiki/Qtum-Wallet-Tutorial#restore-wallet-backup.
The Bodhi dapp uses the Qtum core wallet for all it’s wallet-related functionality. This is no different than downloading the Qtum wallet and running it. Our dapp just exposes certain functionality with the Qtum core wallet such as withdrawing. When a new user uses the Qtum core wallet (never used Qtum core before on that computer), it assigns a default address for usage. Technically, a single Qtum wallet holds about 100 different addresses already assigned to it which is based on Bitcoin wallet infrastructure.
We deem the wallet to be quite safe as this is the main wallet that the Qtum team developed.
Please note encrypted wallets will have to enter their passphrase to do transactions within our dapp.
The seed phrase for a new Qtum core unencrypted wallet is actually hidden to the user. In order to use your own passphrase, you should follow the tutorial in the link above.
BOT is listed on exchanges including Gate.io, Bibox, Coinrail, and Cobinhood. Coinmarketcap (https://coinmarketcap.com/currencies/bodhi/BOT) has a list of current exchanges that you can buy BOT. We recommend that you store BOT in Qbao or the official Qtum Core Wallet.
To participate in events on the Bodhi dapp:
You will have to follow the instructions on the exchange that you have obtained the tokens from. It varies from exchange to exchange, but typically there is a Withdrawal page on the exchange where you can input a Qtum address to send your QTUM or BOT. MAKE SURE YOU ARE ONLY SENDING QTUM OR BOT TO THE ADDRESSES IN THE BODHI DAPP.
In the My Wallet page, click on the Withdraw button of an address that has QTUM or BOT associated with it. Then enter the address to send the tokens to, the amount to send, and the token to send.
The Bodhi dapp uses the Qtum core wallet and has all its security-related features. Please follow the links in the question above about encrypting and backing up your wallet data file for full security. For extra general tips on securing your wallet, you can find some information here: https://bitcoin.org/en/secure-your-wallet
Bodhi uses two tokens for different purposes; QTUM and BOT. QTUM is used solely to stake the outcome of prediction events. If Bodhi is deployed on alternate public blockchains, the native token for these protocols will likely be used. The BOT token is used to enable two actions on the platform; creating new prediction events, and setting accurate prediction results.
BOT is NOT an ERC20 token. BOT is a QRC20 token, based on the Qtum blockchain.
There are 100 million BOT in total, 60% of which was available to the public from our initial token distribution. Another 40% held in reserve by the Bodhi Foundation in Singapore.
Bodhi is a decentralized prediction market platform, built initially on the Qtum blockchain. Bodhi has built a credible, autonomous, and global prediction market platform.
Prediction markets (also known as information markets or decision markets) allow users to create and trade on the outcome of finance, sports, politics, and other event types. Explainer Video of the Bodhi platform can be found at: https://www.youtube.com/watch?v=6k6eEn7SlNY
In order to use the Bodhi platform, users can stake the outcome of any prediction event about which they have an opinion. Other users can join the prediction event against or in favor of the initial users, establishing the odds of the outcome of the event organically. When the specified future time arrives, or the specified event occurs, the third-party oracle will be able to automatically poll the event results and determine the result instantly. The replaceable oracle mechanism allows users who predicted the outcome correctly receive both the original event tokens as well as additional incentive payments. Bodhi abstracts centralized Oracle and decentralized Oracle, and make Oracle replaceable if anyone wants to dispute the previous result. We built in-blockchain consensus so called Proof of Agreement to govern Bodhi platform.
1. Event Creators create a new prediction event that they believe will garner interest from participants. The more popular their event is, the more accurate the results are likely to be. Required fields include title, outcomes, betting start/end times, result setting start/end times, and result setter. Event creators must stake BOT initially; this is to disincentivize low quality event creation spamming of the platform.
2. General participants can browse active prediction events that have already been created, and they can stake their QTUM tokens on the result of the event that they believe is most likely to occur. The staking across the various event results inherently shows the perceived likelihood of each result being the actual outcome.
3. Once the prediction event’s result setting start time is reached, the result setter is able to set an initial result on the prediction event. This will automatically cause the platform to create every alternative result, entering the BOT Court phase.
4. The general public will have a limited amount of time to stake BOT on any of the end results. If there is a unanimous outcome of the result, the prediction event ends, and QTUM tokens are redistributed according to the placed winning bets. BOT is also returned to the original event creator that was staked to prevent spam. The winners who placed votes on the final outcome will receive 1% of the QTUM tokens that were bet on losing outcomes as incentive to encourage accurate and efficient setting of prediction event results. Concluded events can be viewed in the My Activities section of each user’s platform.
Bodhi enables a decentralized prediction market through its innovative “replaceable oracle” mechanism, allowing users to create new prediction events and ensuring true results. The use of third-party oracles allows Bodhi to ensure fairness, increase participation, and significantly lower fees when compared to traditional prediction market systems. In contrast to centralized oracles, the “replaceable oracle” mechanism facilitates reliable outcomes regardless of which party is set as the initial oracle. The Bodhi platform incentivizes BOT token holders to participate in the voting process to correct a false oracle and simultaneously penalize the false oracle.
Yes, the Bodhi platform allows users to predict the outcome of major events in politics, sports, and finance, among other fields. But the prediction market only allows you to predict events with publicly verifiable results, so a private event such as a coin toss, may be difficult to verify for a final result.
Although it is up to participants to determine for themselves whether an event is likely to be deemed invalid by the general user base, every prediction event has a built in “Invalid” option as a result, which can be used to close invalid events.
Bodhi is a Sanskrit term meaning “enlightenment” or “awakening.” It refers to the understanding of truth, which parallels with Bodhi’s mission to predict the truth of future events.
As more users around the world access the Internet from mobile devices rather than desktop computers, mobile computing will be increasingly important to prediction markets. Qtum combines the advantages of Bitcoin and Ethereum to provide better user experience on mobile devices. Event forecasting is also a very time-sensitive matter, which poses a problem for smart contracts since they rely on the propagation of blocks to estimate elapsed time. As the Difficulty Bomb of Ethereum’s current Proof-of-Work (PoW) starts to take effect, the block time is increasing which affects the estimated time of the forecast. Qtum introduced Proof-of-Stake(PoS) since its beginning ensuring stability of its block time. Bodhi was first deployed onto Qtum to avoid existing problems with Ethereum.
Bodhi currently has three prominent advisors: Patrick Dai, founder of Qtum; Weixing Chen, founder of KuaiDi; and Chandler Guo, who also advises leading blockchain startups like BTC123 and Qtum.
Although Bodhi’s smart contracts are available publicly on the Qtum blockchain, the initial user interface has built in restrictions which will prevent users from certain countries from accessing the platform until further clarity on local regulations is provided from the respective governments.
Currently ip addresses from the United States, China, and Singapore will not be permitted to access the Bodhi platform.