Back

Prediction Markets for Climate Change

7/5/2023

Problem to Solve:

A prediction market dApp that leverages Hxro's Parimutuel and Dexterity SDKs to allow users to place bets on the likelihood of various climate change scenarios occurring. The dApp would use Parimutuel to offer multiple betting options, such as the probability of a certain sea-level rise or temperature increase by a specific year. The Dexterity SDK would provide advanced risk management tools, such as position liquidation and stop-loss orders, to ensure users can effectively manage their risk exposure.

Impact:

By providing a unique platform for individuals to engage with and learn about climate change, this dApp could increase awareness and understanding of the issue. Additionally, the ability to donate a portion of winnings to environmental organizations could lead to increased funding for vital climate change initiatives.

Furthermore, using Parimutuel and Dexterity SDKs would provide advanced risk management tools to ensure that users can manage their risk exposure effectively. This could make the platform more attractive to users who may have hesitated to engage with traditional prediction markets due to concerns about risk.

Unique Potential Features:

  1. Real-time tracking of climate change data and events, with updates provided to users to inform their betting decisions
  2. A donation feature that allows users to donate a portion of their winnings to environmental organizations
  3. Integration with third-party climate change data sources, such as NOAA or NASA, to ensure accurate and up-to-date information

Why should someone build this?

Climate change is one of the most pressing issues of our time, and a prediction market dApp would provide a novel way for individuals to engage with and learn about the topic Hxro's Parimutuel and Dexterity SDKs provide the necessary infrastructure to create a secure and seamless user experience for this type of dApp.

The donation feature would allow users to contribute to environmental causes while also potentially profiting from their bets.

Resources:

  1. SSRN Thesis on Using Prediction Markets to Address Global Warming
  2. Can You Bet On Climate Change?
  3. A list of ReFi projects that have won Solana global hackathons in the past

Help Icon

FAQs

A short list of frequently asked questions about building on Solana.

See Past Hackathon Winners

A collection of 150+ winners from the past 6 Solana global hackathons.

Get Grant Funding to Build (it's free)

The ideas on this site are curated by Solana founders across the ecosystem. They're ready to give you an equity-free grant to get building.

Find a Grant Program