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MGP pooling

About

About

An application that makes saving money as fun as a game.

A game where you can never lose.

The game lets you have the best of both worlds - saving money and the chance to win a prize!

Why

Mgp Pool?

We are working to build an ecosystem around MGP and this will be a great initiative towards that.

It will result in an increased engagement over the platform

This will also lead to an elevation in transaction rate of MGP tokens

Release Requirements

Release Requirements

  • Mobile Hybrid Application

  • Web Application

INITIATIVES

Initiatives

Growing the app as and when the user base grows

How it will

work?

How it will work?

User can join the pool in three simple steps

  • A user connects his or her wallet

  • Transfers tokens to the contract

  • Gets tickets in return as many as tokens the user transferred.

Joining

Pool & Interest

When many users join the pool and buy tickets, a sum of money is collected in the contract

Pool and Interest

This amount is then used in defi to generate interest over a small period of time which works on compound protocol by lending crypto to users.

Winner Selection

After a fixed time period one ticket is selected randomly as winning ticket & the interest collected is transferred as tickets to the account of the user holding the ticket for the next round.

Winner Selection

The rest of the amount goes in again for the next round

Token Withdrawal

Withdrawal

User can convert tickets to tokens and withdraw from the pool anytime and will not be considered for that and consecutive rounds.

Sponsors

Sponsors

User can also select if he wants to be part of the winning pool or just here as a sponsor in which case he will not receive any ticket but the number of tokens will be used to generate interest.

Restrictions

Restrictions

The only restriction is, user buying ticket will not be part of the current ongoing pool and will stand a chance only from after that round ends.

Polling Groups

Pooling Groups

There will be an option where users can join a group and increase his or her chances of winning and can share the winning prize with the group.

(for next phase)

Walk-through

This is to get a complete walk through for better a understanding.

Walk-through

Development Modules

Pool Module

Pool

Authentication & Conversion Module

Development

Modules

Direct authentication using metamask integration and will handle ticket selling and amount withdrawal

Will handle all the tickets in the pool, the start time of the pool, the end time of the pool, the amount collected, and compound finance. It will also select the winning ticket.

Will show all the current statistics of pool amount, prize estimate, time remaining till completion of the round, and number of players

Winners Module

Will contain the list of till the date winners along with the amount they won.

And will notify the winner of each round

Development timeline

(along with time approximation)

Final timelines can only be decided after wireframe completion

Timelines

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