Prophecy Dev Diary: Prophet Pools incoming
In this iteration of the Prophecy Dev Diary, Chronos gives the lowdown on recent Prophet Pool developments.
Get ready community: we are on the horizon of our flagship feature, Prophet Pools, being launched and the newly re-designed Prophecy Portal.
As we prepare the launch of the biggest thing in DeFi since sliced bread, we’d like to give our community a preview of the hard work behind the scenes. So far our beta testers have gained the first look at our new platform. Now we’ll go through it for all of our community to see.
Re-Branding and Re-Design
We have partnered with Redi Agency (https://redi.agency/en/) to bring the Prophecy and Retina brands to life. They recently re-designed https://prophecyproject.io with great results. And now they’ve done it again; this Dev Diary introduces the re-branded visual designs of the Prophecy portal for the first time publicly.
We will evolve this brand visual over time as our community and project evolves.
Our team has taken the vision that Redi started and implemented designs that we felt fit the brand personality. It’s modern, minimalist, and user-friendly. Check out the pictures of our designed Prophecy portal throughout this article, and behold the Prophecy brand UI.
Release Expectations
We’re bringing the DevOps and Agile techniques with us into the crypto community from the Tech industry. All of us at Prophecy care about meeting our deadlines; it’s one of the many things that you can rely on from this team. We tend to avoid releasing something huge all at once. We will always release features and products in minimum chunks, called the “minimum viable product”. This allows us to release early and often and allows you to use and test features to provide crucial feedback.
We will audit everything we build with third-party companies who are experts in levelling up risks or vulnerabilities while the features are in staging. This will always be done, no shortcuts, no exceptions. This is one of the most important steps we need to do for this project.
Each product or feature release we do, whether it be Prophet Pools, Second Chance Pools, Staking, or one of the Retina products, we will release small iterations of and build upon with continual development over time. More importantly, everything we release will be heavily tested in beta and very functional by the time it hits production.
So when we release Prophet Pools, Second Chance Pools, the new Staking pool, and the re- designed Portal, don’t expect it to be all complete and released in a single day. Expect it to be released over weeks, allowing us to fix problems early and release usable functionality in chunks.
And now…the moment you’ve been waiting for…
Prophecy Portal: The Tour
The Prophecy Portal is your one-stop-shop for everything Prophecy. We’re eventually going to provide ways to get to the Retina products from Prophecy, and vice versa, but in the meantime it’s just good old Prophecy.
Below is a visual of our dashboard concept. Expect the content on this page to change and highlight new things as we release them.
Prophet Pools
Prophet Pools are our flagship feature within the Prophecy ecosystem. Anyone can enter a pool with an amount of cryptocurrency and have a chance to win back their entry — and more. We strive to be blockchain agnostic with Prophecy, and Prophet Pools will be the first example of this. We’re going to release Prophet Pools on the Ethereum and the MATIC network https://matic.network initially. Our pools will first be available for $ETH, $USDT, and $PRY, with many more being released over time in Q3 and beyond.
The flow for pools is simple: connect to the website with your wallet on either Ethereum or Matic in Metamask, enter a pool with the entry amount and fee, and wait for everyone else to enter. When the last person enters, the pool closes and the winners are determined by an on- chain random generation algorithm (major partnership to be announced soon!). Winners will receive their entry + winnings directly into their wallet. Participants will have ways of quickly finding the pools they want by searching or filtering by specific parameters.
The chances of winning depends on each particular pool — always made clear right in our UI portal. We will have many different types of pools to accommodate many appetites for risk. The below examples show 5 different levels: Beginner, Merchant, Philosopher, God, and Super God. Each token we offer for pools will have these types. For example, we will have an $ETH God Pool and $USDT God Pool; we will have an $ETH Beginner Pool and a $USDT Beginner Pool. All of these will be available on whatever blockchains we’re offering (for instance, $ETH Beginner Pool on MATIC blockchain and $ETH Beginner Pool on Ethereum blockchain). This allows for the most flexibility: you decide which pool you’re comfortable entering.
Those who don’t win will receive a special NFT minted to their wallet address that they entered the Prophet Pool with. This acts as a “ticket” for entry to a Second Chance Pool. See more about these below.
Here are some snapshots of Prophet Pools on our platform with the newly re-designed UI.
Second Chance Pools
One of the great things about our products is that you always have chances to win even — so much so that this is even true if you lose. Second Chance Pools give you just that: a second chance to win in a Prophet Pool.
The flow is simple: if you didn’t win in a Prophet Pool, we will mint a special ERC-1155 NFT to your wallet (click here for more info on what these are). This technology is pioneering the forefront of NFT’s, and is not yet appearing in Metamask due to how early the technology is (though we imagine it will be merged soon).
When you go to the Second Chance section of Prophecy, you’ll see how many Second Chance NFTs you have in your connected wallet. Each NFT you have acts as a ticket to enter one Second Chance Pool. Simply join the pool that matches the ticket you have and voila, you’ve joined. As soon as everyone joins the second chance pools, the winners are randomly determined (with an on-chain algorithm developed by a partnered company we are going to announce soon) and if you win, your winnings will be sent to your connected wallet!
The total winnings in the Second Chance Pool will be filled by fees collected by the Prophet Pools themselves, providing a cyclical approach to sustaining these community-driven products. Each token that we offer in Prophet Pools has its own dedicated Second Chance Pool. So to start in Q2, we will have $ETH, $USDT, and $PRY Second Chance Pools. You must have an $ETH Second Chance NFT to enter the $ETH Second Chance Pool, and so on and so forth.
Here are some snapshots of Second Chance Pools on our platform with the newly re-designed UI.
Staking
Our farming functionality won’t change, but it’s receiving a UI makeover. We plan on releasing a new staking pool right around the time we release this new design. Check out some pictures of the new staking UI below.
Farming
Our farming functionality won’t change, but it’s also receiving a sweet UI makeover. Check out the new farming UI below:
Coming in Q3:
Tiers
Tiers allow more $PRY to be locked into the ecosystem and allow community members to be rewarded for providing locked tokens. The concept is that there will be different levels for you to lock-up $PRY and you’ll receive special abilities in our ecosystem based on the tier you’re in. For instance, someone in a top tier could receive discounts on trading or Prophet Pool bonuses, or be granted access to create their own custom Prophet Pools for people to enter. We will announce more details about this as we head into Q3.
Here is an early snapshot of Tiers on our platform with the newly re-designed UI:
Custom Prophet Pools
We started out creating pre-defined Prophet Pools in Q2, but we’re going to move towards certain projects and members of the community being able to create their own Prophet Pools. We think this should be tied to Tiers somehow, meaning that a supporter will lock up a certain amount of $PRY in our ecosystem in order to create their own pools. Only privileged participants and projects (think: partnering with another project so they can provide rewards for their own tokens AND benefiting the Prophecy ecosystem) should be able to do so. Look out for more details on this as we head into Q3 2021.
Here is a snapshot of custom Prophet Pools on our platform with the newly re-designed UI:
Portal Activity and Tracking
We will be working toward showing you a history of your wallet’s transaction history right there on our portal. We plan to use https://thegraph.com/ for this, as it will allow us to do so seamlessly at scale. This will assist you in being able to track your activity in Prophet Pools and throughout the Prophecy Portal.
NFT Rewards Redemption
Do you remember the feeling of opening up that pack of Pokemon or Magic: The Gathering pack of cards and hoping… PRAYING for that $500 card? The rush you feel in your brain is real, because the chances of winning that super rare thing are real.
We want people to not only use our portal but keep coming back. We want to reward the long- term supporters of our community and ensure they get the most chances for rewards. The Prophecy Portal will have its own ways of giving you the feeling of “opening up that pack of cards hoping for a mega rarity”.
Introducing: the Prophecy Portal points system and NFT redemption!
Everything you do in the Prophecy Portal results in points. For instance, when you enter a Prophet Pool you receive a point; if you enter a Second Chance Pool you get a point; if you’re in an upper tier you will receive several points. Each point counts toward a redemption of a random and specially minted NFT. These NFTs are exclusive to the Prophecy Portal and they have special powers in our ecosystem. They are traceable and exchangeable.
When you gain enough points, the platform will tell you that you’re ready to redeem them for an NFT. When you head to the “Redeem Rewards” page, you can redeem your points for a random drawing of an NFT out of our pre-minted pool. And voila! You got yourself an NFT just by interacting with the Prophecy Portal.
Here are some examples of NFT’s we’re thinking of minting (of course this is still being planned, and finalized NFTs will be announced when we release them):
****DISCLAIMER: These are just ideas! As we flesh out the specific details and feasibility of this, we will announce official redemption NFTS. This is just to show you the concept of possibilities.
Less Rare
- Collectible art NFT’s with no special functionality (less rare, more chances of obtaining this NFT)
- An NFT to receive one-time free merchandise at our store
- An NFT to receive a one-time airdrop of 1,000 $PRY
More Rare
- 4. An NFT to enter a one-time staking pool with the max amount of $PRY for free
- An NFT to receive a one-time 20% bonus $PRY rewards when you yield farm
- An NFT to receive a one-time 25% bonus from a future staking pool
- An NFT to Receive a one-time entry into a second chance pool
Most Rare
- An NFT to get one free entry into the $ETH God Pool
- An NFT to receive free trading on PowerSwap for X period
- An NFT to create your very own Prophet Pool for X period for free
That’s it for now! We hope your mouths are drooling at what’s to come with Prophecy as we finish out Q2 and head into Q3.
