DD on Polkamarkets!!

Polkamarkets: Decentralized Prediction Markets

A Defi project which allows users to take position of financial value on different global events.

Polkamarkets is a DeFi project based on prediction markets, in which users take positions on real-world global events on a decentralized platform, where your position has a Monterey value that is traded openly on the market, and the position taken is only a fractional ownership in the event you want to predict on. The user can even build his or her own market. Users earn $POLK, the platform’s utility token, by developing their own markets for forecasting and providing liquidity to the Polkamarket platforms. Polkamarket is a dominant platform in the prediction markets ecosystem because it integrates DeFi and liquidity incentives.

What makes Polkmarkets Different?

Polkamarkets is an open source platform that operates on Solidity. It’s built on Polkadot and connected to the Moonbeam network. Polkamarkets aims to address low usage and volume issues by incentivizing liquidity providers and traders to facilitate and take large positions. To encourage everyday active use, the platform will deploy proven and true DeFi incentives like liquidity mining and yield farming. Some of the current markets on Polkamarkets include “Will the Bitcoin price go above $100,000 by 2022” and “Will the Barcelona manager be sacked by October.” These are just a few examples of the many categories in which to guess. It’s also a binary platform, which means the user can only forecast “Yes” or “No” results. It also provides users with entertainment value-added prediction markets with NFT-based gamification, live streaming integrations, and virtual events. The entertainment value that polkamarkets provides is what sets it apart from other prediction markets platforms and has helped it become more successful. By adding gaming and esports platforms, as well as livestreams, giveaways, virtual events, and NFTs, it has attracted a large user base.

A brief summary of the platform’s statistics

• Markets Added: 60+
• Volume: 4k+ kETH
• Transactions: 12k+

Polkamarkets Native token statistics

• POLK Price: $0.420442
• Market Cap: $22,956,158
• Market Cap Dominance: 0.00%
• Trading Volume: $395,472
• All-Time High: $4.18
• All-Time Low: $0.141585
• Market Cap Rank: #843

Conclusion

The ecosystem as a whole is looking very positive, especially for Polkamarkets, which has already asserted its dominance with its incentives and entertainment features compared to its competitors like Augur, Polymarkets, and PlotX. With prediction markets being new and growing daily with different aspects being implemented with each platform, the ecosystem as a whole is looking very encouraging. With this, the prediction markets as a whole appear to be quite exciting, and Polkamarkets will play a key role in their future.