I wanted to take this chance to introduce a new dapp a few friends and I put together. Ethflippening.com is a combination of a Non-Fungible Token (NFT) and flippening prediction market launching May 1. The image is of a majestic unicorn/dolphin bursting from the sea and casting its shadow over grandpa bitcoin who simply rests on his laurels. Rainbows everywhere.
Users purchase one of 31 images for the month that they think the flippening will occur.
51% of all sales are returned to the community – 6% is automatically allocated to the Gitcoin matching grant fund and 45% to a pool that will pay out to everyone who has a token with the month when the flippening actually occurs. BTC Maxis can play too, by betting no flippening by May 2025.
The token is a signal for those who believe in eth - tokens can only be minted BEFORE the flippening occurs.
The first image created for each month has one hidden ETH logo, and the 31th (last) image produced each month has 31 hidden ETH logos (besides the dolphin's horn). This represents the ETH in one validator.
Everything is done in a trustless and decentralized way, with the contract reading the ratio from chainlink’s oracle to determining the flippening timestamp. The contract is open source, the site and images are hosted on IPFS, and anyone can send gitcoin its share at any time.
Previous prediction markets I have seen are all of the format ‘will this happen by x date’ – this one could give us insight into exactly which month the community expects ether to flip btc, and how this changes over time by seeing which months people have minted the most tokens for.
Art NFTs have gotten a lot of (sometimes deserved) questioning of their value – we also wanted to show that the power of ETH allows non-artistic value to be attached to artwork as well.