FutureICX ‘Price Prediction’ Trading App
Development (apps) - Gaming, Trading
FutureICX is a trading related price prediction game of skill where the players can place a wager for a custom amount on what a certain crypto pair’s price would be at pre-determined future moment of time and are aiming to be as close as possible to the actual outcome. There will be no matching of counter-bets or wagering against the house - all players’ wagers are pooled together, and the most accurate ones are rewarded according to a multi-tiered reward structure.
The daily and weekly type of bets, as well as the options for high-risk high-reward wagers will ensure that there is something for every trader’s interest and will maximize the amount of player interactions. The app will give all community members a chance to test their technical analysis skills and will provide experienced traders with the opportunity to receive higher rewards than what they normally would by participating in actual trading. The weekly reward structure, rewarding the top performers will motivate each of the players to reach even higher results and will increase their engagement.
For our regular players we have designed a dividend structure which will give each player the opportunity to receive their own share of the app’s wager pool, according to their own and their affiliates’ activity and results. The implemented social elements of the app will strengthen the bond between players and provide opportunities to increase the gains of the good performers and the outgoing, social players even further.
The app will start with wagers on the ICX/USD crypto pair, payment with ICX and Iconex wallet integration, however upon increase of the player base, we are already prepared with plans for possible improvements, such as additional crypto pair add-ons, additional crypto payment methods and whole separate wager types.
An early prototype of the wagering page of the app is provided. In the actual process of the app’s development this prototype will be improved and could also be changed significantly from our initial design.
Additional in-depth details of the app’s structure are available and will be provided if needed upon request by the Icon Foundation team (via the channels listed below)
Value for Icon
The aim off the project is not only to increase the transaction amount on the Icon network, but to also promote higher community engagement and activity . Aside from a fun trading application, this app could also essentially become a tool where pricing disagreements are easily settled in a light competitive environment and accurate trading predictions are rewarded. The player statistic, result and achievement sharing options would assist the traders to confirm their track record and technical analysis skills and increase their reputation in the Icon trading channels.
The innovative approach and potentially higher returns for experienced traders could also bring additional investors into the Icon network. Long-term, the additional crypto currency payment methods and trading pairs would increase that effect even further and could attract some of the traders currently focused on specific crypto currency types.
An last but not by any means least – an application with such focus would present the Iconists with the opportunity to participate in trading and respectively profiting from their trading skills without exchanging a single ICX coin.
The project will be developed within a 4-month timeframe
There will be 3 major milestones for this project:
- Realization of all UX/UI mock-ups and front-end integration of the platform
- Beta of the platform, social functions, SCORE prototype on Testnet
- Launch of the DApp on the Mainnet
Funding Amount Requested
The funding would be required for the development of the project. This task will be handled by a team of developers, consisting of the following specialists:
- 1 UX/UI designer - in charge of conceiving the User Interface and the User Experience of the DApp, Graphical Identity, Illustrations, etc.
- 1 fullstack dev - in charge of integrating the Frontend (UI/UX,Interactions, User Management via ICONex) and all the interactions to the SCORE
- 1 SCORE developer - in charge of designing and creating a secured and functional SCORE for the DApp.
Each one of these developers will require around 2900$/month for building the DApp. This salary is not as high as it could be for other grants but some of these teams will be working on another ICON related projects in the meantime. They are committed and have deadlines to meet and will therefore have to work on this project outside working hours. Some of the production team will start their work with 1-month delay for this reason too.
The team will be supervised by a project manager who will be in charge of the communication, social aspects and overall project and strategic direction. No funding would be required for this role – the expenses for it will be covered by personal funding and sub-prep node operation.
Funding requested: 3 developers x 3 months x 2900$ = 26100$
The project will be managed by ‘nblaze’, an active community member with over 15 years of experience in management and project optimization as well as in-depth knowledge of the online gambling apps’ systems and structures. Due to his dedication to the Icon’s system he has earned the appreciation and positive disposition of a large amount of preps and with it - their willingness to potentially assist with technical difficulties and the onboarding of players in the future. As ‘nblaze’ is currently running the ‘Midos’ sub-prep node, the proceeds from that node will go towards the management and onboarding costs of the FutureICX project
The production part will be handled by the Sharpn team as the members of the team gradually move from the project that they are currently working on to this one. Sharpn is a startup that has been building on ICON for the last 8 months. They are currently dedicating their work solely on the ICON Blockchain and are focusing it around user experience as well as the adoption of their DApps and ICON in general. Here are some of their most recent achievements:
- 2nd place of ICON’s got talent
- Creating Devblockchain.tech, an interactive SCORE course aiming to expand the ICON developer community
- Created several other services such as an ICON faucet, a Staking Dashboard, etc.
Official Team Name
Team Contact Information
Telegram Id: https://t.me/nblaze