The multichain prediction market Polars has announced the launch of the mainnet and the subsequent Big Trading Competition.
Polars is a decentralized platform running on the HECO Chain and BSC blockchains. Platform users can bet on any events which imply opposing parties.
How Polars works
There is a pair of polar tokens, Black and White, underlying the platform. Their prices are interconnected.
There are two teams on the platform: the White team and the Black team, and each team has its own token of the same name: White and Black.
If the White team wins, then the White token rises in value, and the Black token falls in value, and vice versa.
Aggregate collateral remains unchanged regardless of the price of polar tokens.
Dozens of events can take place on the platform every day, and each of them changes the price of polar tokens.
The amount of volatility is determined before the start of each event and is a predicted value.
Traditional prediction markets can’t cope with the problem of low liquidity. Unpopular events are not of users’ interest, they don’t buy illiquid forecast markets, and liquidity providers don’t supply liquidity to unpopular markets.
Polars platform works in a different way – liquidity is supplied not to the event but to a pair of polar tokens.
This opens tremendous earning opportunities.
Thus, the platform’s groundbreaking concept attracted tens of thousands of users.
What was before mainnet?
In May 2021, the project team conducted beta testing to identify errors, fix the interface, and receive user feedback. All their wishes were taken into account and embodied in the upcoming mainnet. More than 30k people took part in testing.
This is not the first time the trading competition is carried out. Earlier, the team held competitions and attracted more than 10k participants. All participants received rewards for their contribution to the platform’s development.
Thus, the project updated the business model, tokenomics, pools, and much more.
The new work format required a new interface, so the team decided to redesign the platform, website, and social networks. Also, the launch of DAO is planned for the near future.
Big Trading Competition
The Big Trading Competition will take place on the HECO Chain testnet blockchain with real rewards. The prize fund already exceeds $300k.
30% of the fund will be allocated among all participants as airdrop for their contribution to the platform’s development. The remaining 70% will be allocated among the most enthusiastic participants, who completed all the necessary actions, were active every day, and reached the biggest trading volume. In addition, active participants will become members of a special referral program.
The Polars team plans to keep on holding trading competitions with a hefty prize pool regularly. So stay tuned, and don’t miss a thing.
Disclaimer: This is a paid post and should not be treated as news/advice.