📲Farcaster

Warpcast is a social networking client built on top of Farcaster, a decentralized protocol built on Ethereum. They have recently released a feature called Frames, which is a feature that unlocks limitless potential for interaction with a cast (their version of a post). Instead of the basic primitives associated with a post (text, audio, video), these frames allow developers to build novel interactive features directly on a social feed. Some of the first ideas included selling girl scout cookies in a frame, playing a whole game of chess on a frame, and one-click distribution of testnet ETH to your farcaster native wallet.

While these use cases for frames are awesome proof-of-concepts for the potential that frames possess, we believe the next wave of innovation comes from the capabilities for onchain transactions to be executed directly in a frame. We are extremely exicted about the possibility to build live betting features in frames: Imagine scrolling through discussion of an NBA game on a social feed and being able to bet on outcomes within that live game through a frame without ever having to leave the app. Frames unlock this power, allowing apps to be built directly into the feed of users.

We have chosen Warpcast as the platform to launch our MVP and betting via frames for the NBA playoffs is now live @bookies. The medium of exchange on our exchange is $DEGEN, a Warpcast native memecoin that serves a defacto medium of exchange on Warpcast and Base.

Here's how it works:

1) Select the event you want to bet on @bookies.

2) After clicking "Place Bet", input the amount of $DEGEN you want to risk and the team you think will win. You will find the cooresponding odds on the buttons below or the thumbnail above.

3) After selecting a given team, you will be prompted to approve spending of your $DEGEN in a Web3 wallet of your choice. After approval, you will be pushed to a betslip, which gives you information on your stake, pick, odds, and what you stand to win if the event goes in your favor.

4) Upon clicking "Confirm", you will be prompted to complete your transaction. Once you sign with your Web3 wallet, your bet will enter our orderbook and await a counterparty. After the game ends, your winnings will be paid out automatically and settled permissionlessly via UMA's optimistic oracle.

In the future we plan to also build a standalone client for sports. A Farcaster Client would allow Bookies to become an all-in-one hub for sports related content. With access to information on games, a social feed for discussion of results, and native betting features, this Client will facilitate a novel experience for online bettors and serve as a valuable source of initial users for our GTM strategy.