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Prediction Market

A prediction market for carbon offsets powered by Chainlink oracles and Gnosis’ new Mercury v2 smart contracts and conditional market makers. Users take carbon offset positions based on CO2 emissions being offset by the planting and growth of trees.

Code Structure

The FCLA Carbon Offsets Prediction Market enables environmentally conscious users to leverage carbon offset data to bet for or against the continued growth of specific forests. Via Chainlink’s network of Oracle Node Operators, forestry data is brought on-chain in an appropriately distributed manner. Forestry data is sourced via a (Chainlink-enabled) integration with EcoTree (see https://EcoTree.fr), a French forestry company which tracks and sells plots of forest throughout France. The prediction market architecture is based on Gnosis’ new Mercury v2 smart contracts and conditional market makers. The UI was built using React and Web3 best practices, including no built configuration, Typescript, Drizzle, Redux, Rimble and proper components architecture.

Smartcontracts

The current PM is the total amount of euros of all attested trees on EcoTree.

Gnosis uses the EcoTree Chainlinked Contract: https://rinkeby.etherscan.io/address/0xCCccCb48132191636B95aBF45e32BaFbf5A77f5c

Gnosis uses this Division Contract where EcoTree / AMF attest to divisions: https://rinkeby.etherscan.io/address/0x76b8e6AcB389090f38d37A82d521d8ef0D6E2318

Oracle for Gnosis PM that imports form Chainlink contract: https://rinkeby.etherscan.io/address/0xB4baf3B840bdD05f0154558B980AF50a0daB78b0

NFT's of trees: https://rinkeby.etherscan.io/tx/0x2fe5494f19c22b59ee9a9b82a76ac5eb3e78e9afe79cfae86996fd67f7d4dd79

Trees on Opensea: https://rinkeby.opensea.io/accounts/0x6ea295f8f0ea207bd2e4d07f13e003701e152b16

Available markets

Carbon offset

Live platform

Login

Create postion

Chainlink data

Tree NFT's

NFT

Trees on Opensea

Workflow / Mockups

PM Dashboard workflow

PM Dashboard Code Structure

Carbon market

Carbon info box

Working Product

Screenshots

Dashboard / Markets

Create New Trade

Trade Confirmation

Trade Confirmed

Positions

Usage Instructions

  1. Ensure that your MetaMask is connected to the Rinkeby testnet and that you have some Rinkeby test ETH (you can get more here: https://faucet.rinkeby.io/).
  2. You need some test DAI to create positions on the FCLA PM. You can mint some to your MetaMask account via our faucet. Navigate here, select the mint function, enter your MetaMask address and the amount of testnet DAI you would like (NOTE: this number is denoted in Wei, for example if you enter 25000000000000000000 you will receive 25DAI on the testnet).
  3. Navigate to the FCLA PM, after signing the MetaMask connection dialog, you can then trade on any of the avaliable markets using your testnet DAI.
  4. (Optional) If you would like to display your testnet DAI balance inside of your MetaMask currency list, open the MetaMask dialog, click the three horizontal bars in the upper left, and then click Add Token at the bottom of that dialog. Next, click the Custom Token tab and enter the testnet DAI address (0xEFC8876B9F411F1e610668CE62992886A65c913d) in the Token Contract Address field, DAI as the Token Symbol, and 18 in the Decimals of Precision field. You will now see your testnet DAI balance in the list of tokens when you click the three horizontal bars on the upper left of the MetaMask dialog.

Advanced Usage Instructions

Although not necessary for most users, it is possible to refresh the Chainlinked data that is cached inside the FCLA smart contract (e.g. when the Chainlinked geospatial endpoints contain fresh information). To update the Chainlinked data, please follow these instructions:

  1. Obtain some Rinkeby LINK tokens from the Chainlink faucet here: https://rinkeby.chain.link/
  2. To display your LINK balance inside of your MetaMask currency list, open the MetaMask dialog, click the three horizontal bars in the upper left, and then click Add Token at the bottom of that dialog. Next, click the Custom Token tab and enter the LINK token address (0x01be23585060835e02b77ef475b0cc51aa1e0709) in the Token Contract Address field, LINK as the Token Symbol, and 18 in the Decimals of Precision field. You will now see your Rinkeby LINK balance in the list of tokens when you click the three horizontal bars on the upper left of the MetaMask dialog.
  3. Inside the MetaMask dialog, send some newly acquired LINK tokens to the Rinkeby FCLA Chainlink contract address: 0xd8E1E592f77969607c65DA1683769614ACf6b4fC. NOTE: each forest update within the FCLA contract currently costs 5 LINK tokens, so to update all five forests costs: 5 * 5 = 25 LINK Tokens.
  4. To refresh the cached data from Chainlink, call the refreshForests function from the FCLA Chainlink contract here. In the _jobId field enter 0xb0bde308282843d49a3a8d2dd2464af1 (the correct jobId for Rinkeby GET requests, see here for more information). In the _numForests field enter the number of forests you would like to refresh (in index order), currently the maximum supported by the contract is all five forests (to update all forests' data simply enter 5).
  5. Submit the function call with a sufficent amount of gas (the current version may require as much as 7000000 gas). Once submitted it may take some time to process, monitor the transaction on Etherscan.
  6. Once confirmed, the forest data inside the FCLA contract will be refreshed and this will be reflected in the PM dApp: http://pm.flyingcarpet.network/

Development Instructions

  1. Run yarn install
  2. In a separate terminal, run ganache-cli -d
  3. Run npm run migrate
  4. Start the dev server with npm start

It will generate a build folder inside the root with the styles, JS assets and contracts.

Demo

Go to pm.flyingcarpet.network

LSMR Contract deployed on https://rinkeby.etherscan.io/address/0xaf89C9677c69e11c15aB2651885387dfD4B2778F

Environnement variables

.env and .env.production can overwrite environnement variables such as networkID for deployment etc.

LMSRMarketMaker

Contract address is saved into src/build/contracts/Migrations.json:

"networks": {
  "1565085406360": {
    "events": {},
    "links": {
      "Fixed192x64Math": "0xB349FB172D6D5f693b0aA1C6eEc4c61cFd6846f4"
    }
  }

If not saved during build process. The LSMR address needs to be saved into src/config.json. It changes everytime migration is run.

Debug Instructions

Run npm run build-css generate CSS assets separately. Run npm run build-js to generate JS assets separately.

Running Helper Scripts

For operating the LMSR market maker

npx truffle exec scripts/operate_lmsr.js

For resolving the decentralized oracles

npx truffle exec scripts/resolve_decentralized_oracles.js

Troubleshooting

No enough gas for deploying contracts

Run:

  1. rm -rf src/build
  2. npm stop
  3. npm run compile
  4. npm run migrate
  5. npm start

Empty Websocket Dependency Directory Build Errors

If, after installing a new module, you see an error of the following form:

npm ERR! path /root_path/flyingcarpet/prediction-market/node_modules/web3-providers-ws/node_modules/websocket
npm ERR! code EISGIT
npm ERR! git /root_path/flyingcarpet/prediction-market/node_modules/web3-providers-ws/node_modules/websocket: Appears to be a git repo or submodule.
npm ERR! git     /root_path/flyingcarpet/prediction-market/node_modules/web3-providers-ws/node_modules/websocket
npm ERR! git Refusing to remove it. Update manually,
npm ERR! git or move it out of the way first.

It means that one (or multiple) of the websocket module dependencies has been corrupted. Run the following to delete all websocket module dependencies (including sub-dependencies):

find . -name websocket -exec rm -rf {} \;

Next, proceed with the installation of your module (e.g.: npm install additional-module --save). Afterwards, run the above (deletion) command again. Finally, you'll need to run:

npm i

Now the module dependency structure should be fixed with the new module installed.