Arguing with people on certain issues, whether online or offline, is pretty much a daily occurrence for most people.
IBetYou now brought a system where two parties could share their views, and provide evidence that supports them.
The whole thing is organized on blockchain, in front of a community, where token holders who locked up their coins will act as judges.
IBetYou is a new DeFi project that allows people to take their disputes to the next level and have ‘trial by combat’ where they use arguments and opinions to prove their point in front of judges — the token holders who decide the victor.
Engaging in conversations with people can lead to some rather interesting debates, exploration of different topics, new ideas, enlightenment, and more. In fact, the ability to converse and share information is likely what caused the human race to rise about other species of the world and thrive. But, regardless of who people talk to — be that a friend, family member, a coworker, or a random know-it-all on the internet — you are bound to reach a point, sooner or later, where you disagree and neither party is willing to back down.
These are the situations where you “know” something for a fact, and are convinced that you are right. Most of the time, this can lead to agree-to-disagree solution, or an open argument, or even, unfortunately, to hostility. A new DeFi project IBetYou has now come up with the fantastic idea of resolving these disputes using blockchain technology.
What is IBetYou and what does it propose?
Essentially, IBetYou is a project that is about gaming and betting, but not in a traditional sort of way. Let’s say that two individuals do find themselves in a situation where they claim different things to be true, when only one of them can be correct. Enter IBetYou, as a competitive gaming protocol where participants can battle each other with opinions, and earn money and reputation as a result.
It can be described as a debate platform that rewards you if you are right. So, not only do people get to prove their point, but they also get to take the money from the other guy, and even receive a NFT that has all the details of their bet described, and stored on blockchain forever.
With this kind of approach, the person you disagree with will either have to accept your challenge, or admit that they aren’t sure, which really makes you a winner by default.
What else should you know about IBetYou?
IBY is governed by a DAO, where users will act as judges, and deliver rulings on disputes. They will receive a portion of the reward, as will the victor of the dispute. As for how one can become a judge — all it takes is to obtain some IBY tokens and lock them up for a specific period of time. The token is live on 0xPolygon, and is generating yield on locked bets via AAVE. However, the team plans to take it to a number of other chains and integrate new ways to create yield.
The whole project functions as a consumer DeFi dApp, with the focus on the user experience and simplicity, where the project could be an interesting way for new users to enter the DeFi ecosystem.