Polkamarkets: a decentralized and disruptive prediction market
Polkamarkets: a decentralized and disruptive prediction market
Polkamarkets is a prediction marketplace, built on the Polkadot blockchain, which allows combining the power of Decentralized Finance (DeFi) and liquidity incentives to usher in a new era of forecasting.
With this new model, the platform revolutionizes prediction markets by becoming the first prediction tool on the blockchain.
By leveraging the key components of Polkadot’s blockchain, the platform operates in a truly decentralized way and is interoperable with other distributed systems for cross-chain commerce and information exchange.
Polkamarkets is focused on succeeding where other decentralized prediction markets have failed.
Prediction depends on scaling, because the more participants there are, the more data and the more efficient the platform will be.
Its objective is to achieve this by incentivizing liquidity providers and operators to enable and take large positions, while a curation and resolution system ensures efficient and reliable markets.
Simply put, Polkamarkets is a holistic prediction platform that allows users to monetize their predictions of future results and events by trading on an open market.
Users can buy and sell fractions of event results, or even create their own events for others to take their own positions.
Also, there are multiple winning opportunities and a variety of entertainment features that set it apart from the other decentralized prediction markets.
Polkamarkets bring the solution to problems
Polkamarkets aims to solve the problems inherent in decentralized markets, which do not allow to take the industry to new levels.
Such as the fact that late payments are offered, and the resolution sometimes takes place days, or even weeks after the occurrence of an event.
This can be quite inconvenient for participants, as their capital is locked in and forces them to miss other opportunities.
With their DeFi-based prediction marketplace, Polkamarkets are also trying to go one step further by offering an open platform where traders can use their insights from the past, present and future to predict concrete real-world outcomes.
The platform will also allow participants to find returns, lend, cultivate and provide liquidity to others through decentralized exchanges.
Currently, no decentralized platform offers all of this together. The combination of all these services will truly transform prediction markets, with Polkamarkets at the forefront of an industry powered by DeFi.
Polkamarkets’ value proposition is perfectly reflected in the following outstanding characteristics:
- Open and Liquid Market: Liquidity providers have an incentive to offer liquid markets and earn trading fees and performance rewards.
- DeFi-Powered Rewards Model: Users and LPs can mine $POLK tokens by making predictions and providing liquidity. NFTs give exclusive access to special functions.
- Entertainment Value: Polkamarkets will have live streaming for in-play markets in Esports & Sports, daily cryptocurrency markets with live price feed, and virtual events in online communities.
- User-based fee economy: All platform fees at Polkamarkets will go directly to users and liquidity providers.
- Governance Tools: The $POLK token is required to create prediction markets in Polkamarkets as one of the key use cases.
- List of events curated: Prediction markets are curated by $POLK holders to ensure safe and open markets.
Predict and win
With Polkamarkets, users can take positions in Esports, cryptocurrency futures, sports, politics, and other types of markets.
The platform is a financial and informational marketplace where you can tokenize your knowledge and earn money from forecasts.
Users can monetize their forecasts of future results and events within an interoperable and decentralized infrastructure, where their beliefs are converted into assets with financial value openly traded in the market.
In exchange for adding their forecasts to the collective knowledge of the future, users will extract $ POLK each time they take positions on Polkamarkets.
In fact, $ POLK is required to create markets in Polkamarkets, as one of its key utilities and use cases.
Polkamarkets announced the imminent Initial Offering in DEX (IDO), on the leading decentralized fundraising platform Polkastarter.
Days ago, the project for the completion of the Strategic Round of the sale of $ POLK tokens was announced.
There, $625,000 was raised to launch a Polkadot-based prediction market.
Sponsors included Moonrock Capital, Morningstar Ventures, NGC Ventures, Astronaut Capital, and Spark Capital.
Polkamarkets had more than $80 million in strategic sales allocation requests and more than 10,000 unique parties submitted their interest.
Now the project decided it was time to get the community involved by giving them the opportunity to participate in the POLK IDO on Polkastarter.
The opening of the POLK Whitlisting was on February 14.
The IDO date for the POLK token is February 24, 2021 at 1pm UTC.
POLK is designed to be Polkamarkets’ prediction market economy coordination and incentive tool.
The goal is to have a high-volume, liquid, vibrant prediction market economy in which many users can forecast by buying and selling earnings stocks in a wide variety of events.
To that end, several key use cases were incorporated for POLK, such as:
- Mining – LPs and users can mine POLK using the platform, encouraging daily active use.
- Direct fees for LPs – Trading fees on Polkamarkets are rewarded to liquidity providers.
- Buy Back – Yield Farming: ⅓ of the trading fees at Polkamarkets goes towards the automatic purchase of POLK in DEX, which will be paid to LPs as an additional agricultural performance reward for their services.
Do you want more information? Visit Polkamarkets.
Website : https://www.polkamarkets.com/
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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO, and should not be attributed to CriptomonedaseICO.