Celeste + Omen = Success?

#1

Hello bees,

one of the coolest project currently under development in xDai is OMEN:

https://omen.eth.link/

It is a prediction market (betting platform) based on AMM (Automated Market Makers) technology (like honeyswap), where everybody can create bets and everybody can participate to bets, using xDAI.

Screenshot 2021-04-17 at 08.40.17
Screenshot 2021-04-17 at 08.40.171392×590 52.2 KB

To resolve results, as you can imagine, an Oracle system needs to be used. At the moment OMEN uses: https://reality.eth.link/

Screenshot 2021-04-17 at 08.42.39

but Omen is, by design, modular and can easily add other Oracles.
So my question is:

QUESTION: Should 1Hive explore a partnership with OMEN (which is developed by DXdao) in order to expand the userbase of CELESTE (and consequently of HNY)?

Do you think that’s possible?

2 Likes
#2

Why not? DXDao is working on improving Omen. @luigy is in their Discord and had a few conversations with them. An opinion about that @luigy ?

1 Like
#3

This would be awesome! the only think I like more than gambling on crypto is gambling on not crypto!!

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#4

I think its possible, we did some initial research, but there are some technical challenges that we decided not to try and tackle right away.

Specifically, the reality.eth omen resolver requires having more than 3 possible outcomes, but Celeste expects keepers to pick between allow/block/invalid. Some research would need to be done to figure out how to best integrate and whether it makes sense to support only specific types of markets, change some of the expectations for keepers, or change the reality.eth interface.

1 Like
#5

Yes, so one option is

  1. to, of course, to just propose Celeste to just Binary markets (omen allows the user to pick the Oracle). Binary markets are anyway quite a large portion of many interesting bets (in sport, real-life, crypto bets) and in finance (see binary options).
  2. The second option is to, just at the GUI level (no much new smart contracts, just SC built on top of the current one) implement N-ary choices by means of a binary decision tree of Allow/Block (i.e., Log_2(N) many binary choices).

I think the second option would require some work, so perhaps for the future. But it would be super-nice if 1Hive could start working with DxDAO on this integration just for Binary markets which, as said above, are already very useful.

1 Like