Idea:
Use prediction markets; Simple, permissionless bets, to drive activity on Namada.
Think: “Will NAM be over $0.10 by August 1?” or “Will Proposal X pass?”
Thanks for your idea! It also opens the possibility of creating a private OTC market
I have a few concerns:
How can we keep the oracle completely unaware of the deals? When the oracle is part of the multisig, it learns the deal amount. Shielded transactions let us hide the participants by creating new wallets, but it would be even better if everything stayed fully private.
What about a refund mechanism? Even if the counterparty can sign a refund transaction, it should become valid only after a specific time or block height. The counterparty could sign the refund before the deal, but it would be nicer to make the process more permissionless and less dependent on the oracle. For instance: namadac sign-refund --execute-after-height <future block for refund>
Overall, I like the idea of introducing smart-contract-like functionality without actually using smart contracts, but it would be great to add more privacy on the oracle side. Maybe someone here will come up with a solution!
@RuslanGlaznyov imo, big part of what makes this sort of thing interesting is when it’s combined with a social signal (in which case it needs to be public, so it’s okay if the oracle knows)
a public bet between known people is a signal of conviction
but i hadn’t thought of the OTC potential! which would be important if you don’t want to price signal to the broader market, but i imagine it’s enough to just break linkability by using a fresh tnam for the bet contract
there probably are other reasons to explore how the shielded pool could be used tho, and it is Namada’s core value proposition. it may be good to begin by seeing if this is a thing people will use in its simplest form
@CryptoDruide i like the discord bot idea! what if we substituted on-chain stuff with trust assumptions initially? if there’s traction with small bets, develop the on-chain elements and lean into growth
i’m interested in
technical design
game / use-case design
i can’t commit much time (can work in short bursts)
Yes, but only cryptographically, which means you need to use FROST. Actually, this is a great candidate for a microgrant to build some tooling – what kind of tooling would you want to see for shielded multisigs?