Polkamarkets is a 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.
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.
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 we 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.
Co-founder and CEO
A serial entrepreneur with several ventures launched in the prediction market space. He has over a decade of experience as a full-stack developer and software engineer.
Co-founder and CMO
A marketing leader with more than 10 years experience in disrupting big companies' go-to market strategies, specializing in digital and social campaigns.
CEO and co-founder of bepro.network, a blockchain-based SaaS empowering businesses and entrepreneurs to launch Esports gaming platforms. Rui is a serial entrepreneur and has +5 years experience with blockchain product development.
With 10 years of experience creating products in the tech and blockchain worlds. Serial entrepreneur and product owner for multiple SaaS and consumer products.
Founder and Chief Strategy Officer of Utrust, one of the leading blockchain payments companies that are improving the accessibility of digital assets and drastically increasing cryptocurrency adoption.