Polkamarkets

What is Polkamarkets?

Polkamarkets is an innovative platform at the crossroads of decentralized finance (DeFi) and prediction markets. It allows traders to leverage their knowledge and forecast real-world outcomes in a decentralized environment.

• Combines DeFi incentives with prediction markets
• Offers sports and esports markets with live event feeds
• Enables users to earn $POLK tokens through trading

The Problem

Existing prediction markets face significant challenges such as low liquidity, insufficient market options, and a lack of active traders. In 2020, the average daily trading volume was under $1M USD.

• Low trading volumes hinder hedging and large positions
• Minimal liquidity results in low fees for providers
• Market instability due to few users and low volume

The Solution

Polkamarkets addresses these issues by incentivizing liquidity providers and traders. The platform uses DeFi strategies like liquidity mining and yield farming to boost market activity and reliability.

• Incentives for liquidity providers and traders
• Curation and resolution systems ensure market efficiency
• Rewards include $POLK tokens for opening prediction markets

Team

The team behind Polkamarkets includes experienced professionals with diverse expertise:

• Alex Solleiro: Co-Founder & CEO
• Ricardo Marques: Co-Founder & CTO
• Henrique Caiano: Advisor
• Nuno Correia: Advisor
• Wellington Matheus: Development Lead

Build Your Own Prediction Market DEX

Polkamarkets offers flexibility for developers to deploy or customize prediction market solutions.

• Integrate markets using the Polkamarkets JS SDK
• Deploy decentralized marketplaces with the codebase
• Create custom prediction products or adapt existing ones

Extend Polkamarkets with its Partners

Enhance the Polkamarkets Protocol by incorporating technologies from various partners.

• Collaborate with Moonbeam, Bepro, and Polygon
• Implement features like KYC, compliance, and dispute resolution
• Utilize tools from Kleros, Lepricon, and other partners

Contribute to the Polkamarkets Protocol

Polkamarkets is an open-source project on GitHub, welcoming community contributions like reporting issues and suggest improvements, creating pull requests and new tools, or engaging with the community and enhancing the protocol.

Project Development

Polkamarkets Labs and Talent Protocol have partnered to advance Web3 talent and transparency. Talent Protocol's updated platform aggregates social credentials on-chain, creating a new type of resume that showcases verifiable talent in blockchain. Together, they are launching the first on-chain forecasting credential to certify forecasting skills, setting new industry standards.

Their collaboration focuses on:

• Talent Prioritization: Using Talent Passport and Builder Score in hiring and grants.
• Opportunities for Builders: Enhanced prospects for application developers using the Talent Passport.
• Forecaster Credential: A universal credential integrated with Polkamarkets and other dApps.
• Future Attestations: Aligning with Talent Protocol’s attestations for professional achievements.

Projects in the Polkastarter IDO Category

Check out other projects in the Polkastarter IDO category:

• Stratos: a decentralized system for scalable, self-balanced storage, database, and computation.
• Polytrade: a blockchain protocol that connects buyers, sellers, insurers, and investors for receivables financing.
• Uno Re: a decentralized reinsurance platform on Ethereum, offering coverage for digital assets.

Polkamarkets Price Analysis

As of November 24 2024 Polkamarkets has a marketcap of $2.7M. This is {{percentagefromath}} from its all time high of $4.18. In terms of its tokenomics, there's a total supply of 100M with 100% currently outstanding. Keep in mind Polkamarkets has a fully diluted value of $2.7M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.