Thread by @koeppelmann

Gnosis prediction markets are live!

Gnosis is a platform for prediction markets and after the launch of @corona_markets and @polydotmarket recently I am excited to see @Dxdao_ launching @Omen_eth - a product that is fully decentralized, has no single point of failure, and thus is naturally permissionless.
(2/12)

The @dxdao used the infrastructure we have build and combined it in clever ways with projects like @IPFS, @ensdomains, @graphprotocol, @3boxdb, @daostack, @Kleros_io, @RealitioProject, @BalancerLabs, @gnosisSafe
(3/12)

@Omen_eth lets everyone create a market within less than 60 seconds. In a simple 2 step process, a user can ask a question that is relevant to her. In a second step, liquidity can be provided in a way made popular by @UniswapProtocol and recently @BalancerLabs
(4/12)

Under the hood 3 things happen:
a) a question is created on @RealitioProject (check @RealitioBot). This has its own mechanisms on how to resolve this question by staking ETH on the right answer. In case of a conflict, the process can be escalated to the @Kleros_io court.
(5/12)

This part addresses basically the oracle problem of a prediction market. Other oracles or arbitrator could easily be plugged in.
b) For each outcome, conditional tokens are created using the Gnosis conditional token contract.
etherscan.io/address/0xc59b…
(6/12)

c) For those tokens, a @BalancerLabs like automated market maker is created where anyone can add and remove funding. A 2% fee is the default that is earned by LPs on each trade. (Caution! being an LP is risky)
(7/12)

The dapp itself is served without any central server using a @ensdomains with the content stored on @IPFS. For querying historic blockchain state @graphprotocol is used. User can comment on markets using @3boxdb
(8/12)

We believe this decentralization maximalism will enable all kinds of permissionless innovation around such a product and people will reassemble and compose the pieces in different useful ways.
(9/12)

This will lead to a thriving prediction market ecosystem and in aggregate to why we started this:
Better information available to anyone, so that everyone can make better decisions!
(10/12)

Three markets that are already life and attracted $50k funding each are: ETH 2.0 live this year?; Gas price above 100 GEWI in Nov? 🥺; Berlin hardfork this year?
I am very much looking forward to, from now one having infos available in real-time on those topics.

(11/12)

What are questions about the future where infos about them in real-time would help you make better decisions?

Now there is a place to ask them.
omen.eth/

(12/12)