LibertyBet

Problem Statement

LibertyBet is a decentralized prediction market platform inspired by Polymarket, designed specifically for local markets in liberal countries where betting is culturally accepted and lightly regulated.Our MVP is focused on Georgia 🇬🇪, but the architecture is built to be easily adaptable to other countries (Armenia, Panama, etc). With LibertyBet, anyone can predict both global and local events—like ETH/USD price, US elections, or Georgian topics such as GEL/USDT FX rates, local weather, or politics—and win ETH, all transparently on-chain.Key technical innovation: LibertyBet uses a hybrid oracle system:Chainlink for secure, on-chain resolution of global markets (e.g. ETH/USD)CoinGecko for local and niche markets (e.g. GEL/USDT FX, Batumi weather), with fallback logicThe user experience is streamlined:Connect your walletSelect a market (YES/NO format)Place a betWithdraw your winnings when the market is resolvedAll pools and market data are on-chain, with no KYC and fully transparent odds (real-time, based on the pool balances).LibertyBet is built for scalability and impact:Each country can host its own LibertyBet instance, with dedicated pools, custom markets, and localized marketingThe project’s vision is to empower bottom-up, skin-in-the-game collective intelligence—turning local betting communities into powerful, reliable sources of public information (as demonstrated by the success of Polymarket for global topics, but focusing on untapped local markets)Technical stack:Solidity smart contracts on Sepolia (can be ported to any EVM chain)React + ethers v6 frontendHardhat for development/testingResponsive, mobile-friendly UXRevenue model:Fees on market creation and betting volume, adaptable for each countryNext steps:Open up market creation to the community, integrate more oracles (including custom and local feeds), and add reputation/badge systems for power users.LibertyBet is a true “local-first” alternative to Polymarket, combining the power of hybrid oracles with a minimalist, scalable UX—positioned to unlock the collective intelligence and viral growth potential of betting communities worldwide.

Solution

How it’s madeLibertyBet is a full-stack, EVM-native dApp designed for local and global prediction markets. The project is composed of the following main components:Smart Contracts (Solidity, Sepolia/EVM)All core logic is on-chain: market creation, betting, resolution, and payouts are handled via Solidity contracts deployed on Sepolia (easily portable to any EVM chain).Each prediction market is initialized with event parameters (question, resolution date, oracle type), and users interact directly with these markets by sending ETH.Markets are YES/NO, pool-based (no LP token), with dynamic odds computed from the pool balances.Oracle System (Hybrid: Chainlink + CoinGecko)For global assets (e.g. ETH/USD), we use Chainlink oracles to ensure secure, on-chain, tamper-resistant price feeds.For local or niche assets/events (e.g. GEL/USDT FX, Batumi weather, politics), we call CoinGecko’s public API off-chain, then resolve the market outcome via a script or a trusted relayer, writing the result on-chain.This hybrid approach enables us to cover both reliable global feeds and ultra-local, community-driven markets—filling the “last mile” gap most DEX oracles don’t cover.Frontend (React + ethers v6)The interface is a single-page app built with React and ethers v6 for Web3 connectivity.Wallet connection (MetaMask) is handled with a minimal, mobile-friendly UX.All market data (pools, odds, outcomes) is read directly from the contracts; user actions (bet, withdraw) trigger on-chain transactions.Dev Tools & TestingHardhat is used for contract development, deployment, and testing.All deployment scripts and market-creation utilities are automated (just run the scripts to spin up new markets).UI/UXResponsive, fast-loading, designed for instant onboarding (“Connect, Bet, Withdraw”).Focused on reducing friction to make prediction markets accessible to anyone—even those with no DeFi experience.Partner Technologies & IntegrationsChainlink is critical for trust-minimized resolution of global markets.Hacky/Notable Engineering DecisionsDynamic probability is computed off-chain for the UI, but all payouts are on-chain, ensuring transparency and auditability.All contracts are ready to be forked and deployed for new countries/markets with minimal changes (just set the parameters and eventual oracle for each event).LibertyBet demonstrates how a “local-first” prediction market can be built in a weekend, leveraging best-in-class oracles and a pragmatic, hackathon-friendly stack to enable real-world usage and scalability.