Sep 15, 2022

6 min read

Welcome to the Launch of the Modefi On-Demand Public Beta!

READ THIS FIRST

First and foremost you will need to add the Fantom Testnet to your metamask. You can find details at the end of this article on how to do so.

After connecting to the Fantom Testnet, deposit your MOD tokens into the platform ( https://beta.modefi.io ). You can do this by clicking the avatar on the top right corner and selecting “Deposit Tokens”. Please DO NOT deposit your $FTM at this time, only your $MOD.

Once deposited there is a 24 hour waiting period till you are able to validate. The sooner you do this the better.

The intention of the initial beta is to get as much feedback from everyone as we can, as well as reward you for your hard work.

Initial Deposit and Contract Creation Tutorial for the On Demand Oracle

Earning (Real) Rewards

The beta will have a few options for you to earn some extra rewards during the initial beta process. Those options are as follows (more may be added later):

ODO tutorial scavenger hunt
Create a unique contract
Create your own scavenger hunt
Game the system contest
Create a contract with your favorite events/sport/team/etc
Validate all the things!

Tutorial Scavenger Hunt

The team will create a scavenger hunt using the ODO to train you on how to use the system. We have selected many parts of the ODO we think are essential to know and master the system. We will also create supplemental videos to help you through your first experience. If you think we missed anything in this general overview/tutorial/videos, please feel free to let us know on Discord or the Telegram Group.

Create a Unique Contract

While we can come up with tons of data/ideas on how to use the ODO, we want to see what unique ideas you can come up with. We will be rewarding users with the most unique and outside-the-box contracts.

Create Your Own Scavenger Hunt

If you have an idea for your own scavenger hunt that you think will be fun for others, please feel free to make it. Your scavenger hunt can be anything but some ideas could be, riddles, challenging questions, more ODO learning, crypto hunt. Please feel free to ask us our opinions on your idea if you want before creating it.

Game the System

We have thought out thousands of scenarios in which bad actors would attempt to game the system. While we may think that we closed all of those holes, but we want to be sure. Attempt to game the system in order to gain something. If you figure out a way to do so please let us know and we will reward you for doing so. We want to ensure our users that their contracts and funds are as secure as possible. Now get your black hat on and see what you can do.

Create a Your Own Contract

We all have our favorite sports or even a sport that not many know about (hurling for example). Create a contract for a sporting event in the near future. Examples could be, Olympics, world games, e-sports, local events, beer league, and tournaments (on or offline). This doesn’t have to be limited to sports and can be any event. Let your imagination run with it.

Be The Validator You Have Always Wanted To Be

Everything created above needs to be validated at some point. This will give any beta user the opportunity to earn based on the validations they provide, building experience for you guys and bringing you to the forefront when we officially launch on mainnet. There will be a ranking and point system on the beta that will be utilized during the mainnet launch. Most importantly we want you guys to become experienced using the system to get as many rewards out of it as you can. You get rewards, the ODO clients are happy and in turn, Modefi as an entire ecosystem is happy.

FAQs

How can a user access the event details page?

Select the blue icon next to the event title on the validate page

How does a user export existing contracts from CSV?

Top right section of the event details page

How does a user import contracts from CSV?

Users who want to expedite, copy or add multiple contracts can easily do this by using the import button that is located on the home tabs of the ODO dashboard.

What program is recommended to open the CSV files in?

Google sheets or Excel

What is the minimum collateral required?

$100

What is the current maximum collateral required?

$5000

How long does a user have to dispute?

The contract creator decides on the dispute length, therefore it is completely contract dependent.

What timezone is selected automatically within the platform?

The timezone is automatically set to the user’s computer settings. Please note that we have tested with a VPN and it did not affect the timezone for us, but please be aware that there is a possibility it may.

What happens when a validator is late providing data?

The validator may be at risk of loosing a percentage of their stake.

Who can dispute the results of a contract?

Anyone who has a financial stake in the contract

What rewards can a validator expect?

Validators can expect up to 2% of their collateral value in return for a correct validation.

What is a Triad of Validators and What is the Minimum Required per Contract?

A triad is a set of 3 and the minimum number of triads per contract is 1.

How do you add a username and avatar to your profile?

Each user can set up their username and image by selecting the default person icon at the top right of their ODO dashboard.

After on your private profile page, click the default image once more. Here you will be able to set up your username and profile image. Each username is unique and can only be used once.