Decentralized Prediction Markets Are Ripe for Disruption as Polkamarkets Approaches IDO
Prediction markets have always had enormous market potential in the decentralized technology space. However, incumbent decentralized prediction markets have failed to deliver. The vast majority are based on the Ethereum blockchain and were designed at a time when the decentralized finance (DeFi) was still in its rudimentary infancy.
Developments in open-source blockchains, real-world data integrations, and a rapid DeFi evolution have radically changed the possibilities for prediction markets. The cryptocurrency market is ripe for a next-generation prediction market and Polkamarkets will deliver just that. Underpinned by the Polkadot blockchain, Polkamarkets has carefully considered the innovations of recent years to design a marketplace that will attract widespread adoption.
VYSYN Ventures is thrilled to have allocated investment to Polkamarkets and assist them among their journey to becoming the leading decentralized prediction market. Users of Polkamarkets will be able to monetize their forecasts. Predicted event outcomes will be bought and sold on a liquid marketplace, with users also having the opportunity to create their own forecasts.
Polkamarkets will integrate entertainment events into the platform. Events that hold predictions will be live streamed directly in the platform, further spurring prediction bets and marketplace activity. The low-fee and high transaction throughput inherent in the Polkadot blockchain give Polkamarkets a considerable advantage over current prediction markets. VYSYN Ventures foresees the marketplace securing significant adoption and is happy to help with their journey.
Excitingly, public investors will shortly have the chance to gain exposure to the native token of the Polkamarkets platform – POLK. On the 24th of February at 1 pm UTC, Polkamarkets will carry out their initial decentralized exchange offering (IDO) on the Polkastarter fundraising platform. The whitelist for the IDO is opening on the 14th of February at 17:00 UTC. Details on the whitelisting process can be found through the Polkamarkets Telegram channel.