Polkamarkets #4 Monthly Recap — May 2021

Polkamarkets #4 Monthly Recap — May 2021
Polkamarkets #4 Monthly Recap — May 2021

One of our major milestones was the launch of our Testnet at the end of April, and since then we have fulfilled the promise of listening to our supporters and early adopters to help us build the most unique Prediction Markets platform.

The support from everyone has been truly amazing and we couldn’t be more proud of our community who keep on delivering valuable feedback and helping us shape what will be the future of Prediction Markets. We’re on a mission to bring the best forecasting tool to the market.

If you haven’t already joined our Telegram and Twitter, click here to join the conversation! Please also read this article for more information regarding Polkamarkets Uniswap Migration to V3.

Since the release of our Open Beta, we have been working day & night together with our partners BEPRO Network and Moonbeam, who have provided critical technology and expertise for our prediction market development.

After making sure everything was running smoothly on the platform, we released our Open Beta to the world. This was only possible with the help of our 2,000 whitelisted early adopters who gave us the opportunity to test and learn from them.

🤝 Partnerships

To accelerate the migration of Polkamarkets’ prediction market technology onto Polkadot, we’ve partnered with Moonbeam Network — an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. With this partnership we will be able to offer live prediction markets in Crypto, Esports, Sports, and more with Polkadot-based value assets. — Read more

And to enable synthetic token incentivization, we’ve partnered with DAFI Protocol — Dafi incentivizes networks & protocols based on their adoption. Creating maximized rewards for longer term users and preventing excess supply when networks are fragile by enhancing scarcity. This partnership will help to explore the possibility of using DAFI synthetic tokens in our Prediction Markets platform. We’ll use DAFI synthetic tokens as a reward system for long-term users of Polkamarkets. — Read more

🍳 Create Your Own Market

One of the main features we’ll have on the mainnet is the ability for $POLK holders to create their own markets. However, at this stage of our Beta, markets are being created and managed by the Polkamarkets team.

But, to keep the community engaged we launched a campaign to let everyone experience being a market creator. We would love to hear from you which markets you want to see on our platform! Fill out the following form and see your market on our app: https://forms.gle/nWbtbtuv63Z9vDb68

🦄 Polkamarkets Uniswap Migration to V3

Polkamarkets has upgraded to Uniswap V3 in order to allow our LPs more flexibility and control over where they provide their liquidity on the price curve. With the Uniswap update and migration to V3, there was an update in the monthly rewards on the Uniswap Liquidity Providers Program. You can read more here.

📰 Polkamarkets featured on press media websites

11/May — Polkamarkets MVP Review — Moonrock Capital (read more)

12/May — Polkamarkets Partners With MoonBeam for Polkadot Acceleration Migration — Smart Liquidity (read more)

12/May — Polkamarkets: Changing The Face Of Prediction Markets — CryptoNinjas (read more)

17/May — Polkamarkets Announces MVP Open Beta — NewsBTC (read more)

30/May — Polkamarkets & Dafi Protocol Partnership to Mitigate Inflation with Rewarding Users — Altcoin Buzz (read more)

👀 What’s coming in June?

For the following month of June, we will be completely focused on the MVP, specifically on developing decentralized market creation and resolution. Currently, these functions are done through an admin dashboard. Following this release the process of market creation and resolution will be completely decentralized.

Other topics for the upcoming weeks and months include:

  • Decentralized market creation
  • Decentralized market resolution
  • Continuing features development for our MVP Testnet.
  • Fixing bugs that are reported on a weekly basis
  • Preparation for mainnet (Ethereum) release in July

We believe that together we can see further and more clearly beyond the horizon of the unknown. With each forecast, you are contributing to the collective knowledge of mankind. What greater desire is there than to know what is to come? Knowledge is power. The future belongs to those who can see it accurately, and act.

About Polkamarkets

Polkamarkets is a DeFi-Powered Prediction Market built for cross-chain information exchange and trading where users take positions on outcomes of real-world events–in a decentralized and interoperable platform based on Polkadot.

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Autonomous Prediction Market Protocol Powered by DeFi, NFTs and Polkadot. https://www.polkamarkets.com/

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