🚨 Attention Degens and gambling enthusiasts 🚨
An informative thread about the latest developments at @PolymarketHQ
Get a rundown on decentralized prediction markets and what it means for the future of cryptos.
#PolyMarketHQ #Decentralization #Polygon #Crypto
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1.
@PolymarketHQ boils down to a trading predictions market where users buy & sell shares in order to predict the outcome of a certain event.
Winner takes all ofc. and the best part it's all under the sun thanks the @0xPolygon PoS blockchain.
2.
The protocol was launched in Q4 2020 and founded by @shayne_coplan and raised around $4 Million during their Seed round.
Some notable investors include: @polychain @BCoinvestors @paraficapital & @1confirmation
3.
The investors above also happen to early birds to some of the largest entities currently in Web3 which include @opensea, @coinbase & @animocabrands
4.
From the @CoinDesk article below it's evident that the platform was able to amass over $100 Million in trading volume in just under a year.
5.
Following an article from @WSJ the protocol also saw a huge spike in users due to have predictions markets relating to the Coronavirus and it's preceding vaccine, which quite frankly a LOT of people saw coming and once again capitalized on this for safe & simple gains.
6.
Their most recent & hyped up prediction was regarding the @SuperBowl which had its own category among many other which include: Politics, Crypto, Sports, Business & many other.
Even @realDonaldTrump has his own category.
7.
It's not only about gambling but they also have a reward system where folks can earn by trading and providing liquidity in order book and AMM markets.
polymarket.com/rewards
8.
Some interesting markets I found regarding Fed interest rates, @SBF_FTX saga, @ethereum price action, even @Uniswap DAO governance proposals.
It's funny how diverse these markets are and reach out to almost every sector trending atm.
9.
One can also checkout his Market positions and current winnings under their "Portfolio" tab.
10.
In the example above it shows a prediction about $MATIC which ended up being successful after the token did in fact reach its first ATH shortly before this prediction ended.
11.
PolyMarket has been audited by @Quantstamp as well as by @chain_security
chainsecurity.com/security-audit…
12.
Not financial advice btw. Please do not gamble or at least do it responsibly.
I do not endorse gambling in any way especially on centralized platforms which don't need to be named at this point.
13.
However, platforms like @PolymarketHQ at least give you custody of your own tokens and there's never a third party holding them due to the magic of smart contracts.
14.
If you liked this thread be sure to drop a follow (@CryptoNasss). A lot more threads incoming in the near future, and as always #NFA & #DYOR.
🪄🎩💜
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