What Is Polkamarkets?
Polkamarkets is an Autonomous Prediction Market Protocol built for cross-chain information exchange and trading where users take positions on outcomes of real world events–in a decentralized and interoperable platform based on Polkadot. Forecasting and providing liquidity to Polkamarkets will earn users $POLK, the platform’s native utility token. By joining the power of DeFi and liquidity incentives to prediction markets, Polkamarkets aims to be the premiere forecasting tool on blockchain.
At the intersection of DeFi and information exchange lies the Prediction Market: an area where traders can leverage their knowledge of the past, present and future to forecast specific, real world outcomes. The ability to profit off of information exchange and modeling has formed the basis for much of modern capital markets. With the rise of DeFi, traders are finding yield through decentralised exchange, lending, farming and providing liquidity for others to use. No current player in the market combines DeFi with prediction markets, until now.
Polkamarkets Storage Key Points
|Circulating Supply||42,052,812.45 POLK|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Polkamarkets Coin currently, existing prediction markets suffer from key problems such as lack of liquidity & markets, lack of traders, and duplicate or confusing markets. Total prediction market volume averaged less than $1M USD per day in 2020 and even less in years prior. With such low volumes, it is impossible for traders to adequately hedge against future outcomes or take any sizable positions. With low volumes comes low liquidity and therefore low fees for platform providers due to the lack of active traders. A death spiral ensues as they have seen with existing prediction markets with virtually no users or daily volume.
Polkamarkets aims to solve the low usage & volume problems by incentivising liquidity providers and traders to facilitate & take large positions, while a system for curation and resolution ensures efficient and trustworthy markets. The platform will also leverage tried and tested DeFi incentives such as liquidity mining and yield farming to incentivise daily active use. As an Entertainment DeFi Platform.
Polkamarkets will offer Sports and Esports daily markets with live feeds of events alongside forecasting. Users will be able to watch their favorite teams play while making live, in-play forecasts about the game’s outcome. Live odds and automated market makers will dynamically adjust odds based on users’ forecasts on the markets. As users trade outcome fractions, they will mine $POLK tokens that they can later use to open their own prediction markets on Polkamarkets.
DeFi and Polkadot Powered Prediction Markets
DeFi-Powered Prediction Market built for cross-chain information exchange and trading where users can take positions on outcomes of real world events–in a decentralized and interoperable platform based on Polkadot.
Polkamarkets Coin Users can monetise their forecasts of future outcomes and events within an interoperable and decentralized infrastructure, where your beliefs become assets with financial value traded openly on the market. Buy & Sell fractions of event outcomes, or even create your own events where others can take their own positions. Participate & Provide Liquidity to Earn. The Protocol is open-source built in Solidity and available
The Web App
More than just a prediction market, Polkamarkets will have important entertainment features. These include NFT-based gamification, live streaming integration for in-play positions on Esports & Sports, and daily crypto price markets. Live chats and virtual events in online communities will also form a key entertainment value-add to our platform. The WebApp is open-source built in React and available
Polkamarkets is a Autonomous Prediction Market Protocol built for cross-chain information exchange and trading, where users take positions on outcomes of real world events–in a decentralized and interoperable platform on Polkadot.