A tool through incognito that utilizes a simple (if this, then that) sequence for betting.
Have the ability to connect information, so instead of having one person or “bookie” that holds cash. USDC can be pooled into a locked box holding multiple peoples crypto. Then when the sequence is completed it triggers a payout.
So for example:
- Create a fantasy football league
- connect that League and season to an (Incognito pool)
- It’s a “locked box” with a sequence the box must follow to function and ultimately reopen once closed and locked
- Sequence is:
A) Box starts as “open” to allow deposits only of 100 USDC from 10 different accounts
*the accounts would use a receive number associated with the deposit, which for example would be connected to an espn team name
(I realize this may be a little weak right now, if anyone can build on this and work out kinks, I’m sure it’s doable)
B) 10 account deposit 100 USDC each into the pool
C) When 1000 USDC is reached the pool closes and locks with no access from any account
D) the “locked box” holds these funds until the winners are determined on the espn website or whatever. Then it take the funds entered and distributes the funds to the winning accounts based on the input amount. I.e. 500 to first, 300 to second, 200 to third. The names are associated with a receive number and the logic tells the account who to send it to.
I imagine there is an app or something that does something similar, but we all use Venmo and it goes to one person that runs the league and people don’t pay, or the person doesn’t pay out, or even just that everyone hates that Venmo is like social media.
This way, it’s safe, secure, private if you want to create a league of people you don’t know, you don’t have to trust one person with money, and it would be kind of cool to know the money is in a locked algorithm only opening when the season ends.