DAO Proposal: Shenanigan

Hey MC, I’m Victor if we haven’t met yet. My project Shenanigan is growing everyday. We’ve gotten lots of positive feedback from the Ethereum community and we recently open sourced 50% of our codebase. In fact you can watch us as we develop our contracts from the discord.

Prelude

Shenanigan aims to solve the problem every athlete faces during their career.

“If I cant go professional, what do I do when I’m done?”

Besides joining a circus? Nothing.

Every year, thousands of young adults turn away from there passions and start remedial jobs. And this is our core demographic at Shenanigan.

Betting on sporting events is a human pastime as old as history. That’s why last year, Nevada handled $8billion in bets and brought in $543million in revenue. All this money going back and forth and the athletes never see a dime. Shenanigan wants to open the door to a new paradigm.

Product Description

Shenanigan wants to remove the middleman and pay the athletes directly with a cut of the winnings.Utilizing LivePeer’s streaming technology and the Shenanigan mobile app, athletes will set up a live wager for the app community. Athletes will set their own goals or challenges and then livestream their attempts. If they complete their goal, live for everyone to see, they receive a cut of the betting pot. Winning bets are then paid out accordingly. And Everyone’s Happy! (except the losers)

We recently introduced the idea to our first target audience, the Super Smash Bros. Melee Community. While Shenanigan primary focus is outside of Esports, melee players have shown a genuine interest in the product. Of the 400 players/watchers surveyed, 40% said they currently side bet on matches, 56.8% said they would participate in a betting pool, and 92% said they are positive or neutral about betting within the community. We had the #11 player in the world S2J (66K followers) retweet us and sing positive praises as well as the #8 player Plup sing our praises on his stream (clip in the google doc).

Progress

Shenanigan has been under development for a year before our official presentation in the beginning of 2020. While we plan to release a beta by the end of the year, a Frankenstein MVP has already been put together. The MVP includes:

  • A functional live stream w/ webRTC
  • Ethereum wallet onboarding process and login
  • Full bets and donations

This was a proof of concept more than else, but it gave me a great scope on the project and its requirements. We plan on switching off webRTC and trying LivePeer’s streaming tech for our beta. We are also looking for another developer so if I’ve peaked your fancy then please feel free to DM me @youngkidwarrior!

DAO

A Shenanigan DAO has beeen set up on the Aragon platform to handle betting disputes from the app, as well as company financing, decisions, etc. We are setup under a single person LLC wrapper made by the OpenLaw guys. The unofficial plans for the DAO include MolochDAO rage-quitting, bounties, fundraising, and community voting. See you there!

Social Links

Hey @youngkidwarrior looks like a dope project, stoked to have you here. Just wanted to clarify what are you looking for from MetaCartel ? How do you see the community supporting you on this ?

Usually #DAO-proposals include a funding request, noticed you didn’t include one here though. Was there some other type of support you were looking for ?

2 Likes

O my apologies, thanks for letting me know. I was under the impression MC decided. How’s this?

Funding Request 1500 - 2000 DAI

Shenanigan is building fast right now, working toward a beta release. However, we have come across one bottleneck, designers. Shenanigan currently has a designer working part time. Our designer has already agreed to commit more time if money is on the table. Close to half of the grant would go to improving on Shenanigan’s branding and logo. Bounties will be available in our Colony to create various things such as a token logo, app splash screen, wallet onboarding images, etc. Other than designing, Shenanigan also has been working with the guys at OpenLaw to draw up legal documents. The guys at OpenLaw are doing great work, but lawyers are expensive. The rest of the grant would go towards them. Actually, Shenanigan has already put up ~500 DAI to wrap our DAO as a Delaware LLC and add our reputation token, $PRTCLE, to the DAO.

Unfortunately covid put a huge dent in our previous runway.

We are also looking for general guidance from people who have been around the Ethereum space longer. Running a successful DAO, making useful tokens, keeping our product honest, and possibly being part of the beta testers. We know DAOs have a great potential to evolve how we as a company interact with our community. We want to be smart in our approach and make something of meaning for people.

I really like the idea of getting involved with the super smash community, think you should focus on that side.

Can I ask: why start with athletes? Seems like its really just about betting on outcomes

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Yes! The smash community is definitely a first priority for us.

Having a focus on athletes narrows down the focus of Shenanigan as a product. The original idea was marketing as a universal “betting on life” type of app (i.e. arm wrestling in a bar, staring contests, etc), but this seemed difficult to sell. It just took too long for people to see the vision. With athletes, people can paint a clear picture of what the app expects from the streamers and the users. Ultimately, the community will decide what direction Shenanigan moves in. I don’t see it as always being strictly for athletes. However, I think athletes are a large, untapped market and a great breeding ground for this kind of idea in particular. That’s why we went with athletes. Maybe we can discuss more of the pros and cons of doing this. My perspective is only one, so I’m opening to listening to comments, suggestions, and quips :slight_smile: