Polkamarkets Partners with Moonbeam Network to Accelerate Migration To Polkadot
We are thrilled to announce Polkamarkets’ integration with Moonbeam Network! This integration will help accelerate the migration of Polkamarkets’ prediction market technology onto Polkadot. With Moonbeam, the Polkamarkets’ team will be able to offer live prediction markets in crypto, Esports, sports, and more with Polkadot-based value assets.
Polkamarkets has from the beginning planned to build on Polkadot to take advantage of its scalability and interoperability with other blockchain environments and communities. The advantages of Polkadot are very well suited for a high-volume, fast, and responsive decentralised prediction market engine. At Polkamarkets, we are committed to bringing the best prediction market experience the market has ever seen. Leveraging Moonbeam’s technology to accelerate the realization of this vision is incredibly important to us and our roadmap.
Polkamarkets’ Prediction Market MVP
Recently, we released our MVP Beta Testnet running on the Ethereum Kovan Testnet. This MVP has been critically important for our development team to find, evaluate and eliminate bugs and make other UI/UX improvements. We have been working closely with the Moonbeam team on this MVP Beta to prime and ready it for its eventual release on Moonbeam’s TestNet: Moonbase Alpha.
A key use-case for Moonbeam is that it allows Polkamarkets to port existing Ethereum facing Solidity code and smart contracts to Polkadot. By using Moonbeam’s technology, Polkamarkets is able to continue Ethereum development as usual knowing that the development effort will equally apply to future Polkadot deployments. This saves us from having to build everything from scratch again when migrating to Polkadot. Additionally, we can already release a beta testnet of our technology and gather market feedback, and do testing much earlier (like we have done).
We were also honored to have been invited to participate as a main speaker and showcase at Moonbeam’s Illuminate21 Event. At the event, Polkamarkets demonstrated an advanced pilot of our prediction market technology. You can watch the recap below:
Future Polkamarkets & Moonbeam Roadmap
The month of May is all about getting Polkamarkets ready for Moonbeam’s Moonbase Alpha. Currently, we are gathering valuable information and feedback from our users on our beta testnet. We will use this information to guide our product development as we deploy onto Moonbase Alpha. Some stats on our Beta so far:
- Max Users — 218 online
- Buy & Sell transactions — 2,000+
- Total Volume — 750+ kETH
- Total Liquidity Added — 150+ kETH
- Most popular Categories: Crypto and Esports
- Most popular Market: https://app.polkamarkets.com/markets/will-polkadot-reach-100b-market-cap-before-january-1st-2022 (20+ kETH)
The future roadmap has been tentatively scheduled for a summer full of exciting releases for both Polkamarkets and Moonbeam:
- May (Polkadot Testnet — MoonAlpha) ✔️
- July (Kusama — Via MoonRiver)
[Delayed given that MoonRiver was not deployed]
- August (Polkadot — Via Moonbeam)
[Delayed given that Moonbeam was not deployed]
“We are incredibly excited to be building on top of Moonbeam and contributing to Moonbase Alpha. Our prediction markets and live forecasting of future events are perfect use-cases for a performant blockchain interoperability protocol like Polkadot, and Moonbeam helps us to make that a reality. The amount of development hours and effort saved by using Moonbeam’s technology is immense. We greatly look forward to seeing our technologies grow together, and to have Polkamarkets truly show the advantage for projects to build on Moonbeam.” — Ricardo Marques, Co-Founder of Polkamarkets.
“As the DeFi ecosystem on Moonbeam continues to grow, prediction markets like Polkamarkets serve an important role in expanding token exchange and decentralized trade. We’ve been working with the Polkamarkets team for quite some time, and are eager to see the progress they make as their MVP is transformed readied for MainNet launch.” — Nate Hamilton, Moonbeam Network’s Director of Business Development.
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot. Currently in active development by PureStake, Moonbeam is expected to reach MainNet by Q3, 2021.
Learn more: https://moonbeam.network/.
PureStake’s team has extensive experience building technology companies and complex software platforms. Led by Derek Yoo, former Fuze Founder and CTO, PureStake provides protocol implementation services and creates developer tools for next-generation blockchain networks.
Learn more: https://www.purestake.com/
Polkamarkets is an Autonomous Prediction Market Protocol 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.