What is FrensPool?
Overview and introduction
Last updated
Overview and introduction
Last updated
FrensPool is a social group betting platform built on the Monad blockchain that allows users to create and participate in prediction pools with friends. It's designed to make friendly wagers more fun, transparent, and secure through blockchain technology.
The core concept of FrensPool is simple: create a prediction, set a buy-in amount, invite friends to vote YES or NO, and when the deadline passes, the winning side splits the pot. All of this happens on-chain, ensuring transparency and eliminating the need for a trusted third party.
Create Prediction Pools: Set up custom prediction pools with your own questions, buy-in amounts, and deadlines.
Multiple Oracle Types: Choose between manual resolution, Chainlink price feeds, or social consensus to determine outcomes.
On-chain Transparency: All pool details, votes, and resolutions are recorded on the Monad blockchain.
User-friendly Interface: Simple and intuitive interface that makes it easy to create and join pools.
Automatic Payouts: Smart contracts automatically distribute winnings to the correct participants.
Low Fees: Minimal platform fees (0.5%) to maintain the service.
FrensPool can be used for a variety of prediction scenarios:
Price Predictions: Will ETH hit $5,000 before the end of the year?
Sports Outcomes: Will Team A win the championship?
Election Results: Will Candidate X win the election?
Personal Challenges: Will our friend run a marathon in under 4 hours?
Market Events: Will Company Z announce a new product at their next event?
No Middleman: No need for a trusted third party to hold funds or determine outcomes.
Transparent: All actions are visible on the blockchain.
Secure: Smart contracts ensure that funds are distributed correctly.
Social: Engage with friends in a fun, competitive way.
Simple: User-friendly interface makes it easy to get started.
FrensPool aims to bring the benefits of blockchain technology to everyday social interactions. By making friendly wagers more transparent and secure, we're creating a new way for friends to engage with each other around predictions and outcomes.
Our long-term vision is to become the go-to platform for social prediction pools, expanding to support various types of predictions, multiple blockchains, and additional features that enhance the social experience.
