Thread by @0xRafi

1/ $PLOT, @TryPlotX (plotx.io)
Here is the “Uniswap for Prediction Markets”, an undervalued project ($3M MCap) offering AMM based prediction markets, with a proven experienced team, soon to be launching their brand new version on @0xPolygon’s L2.

2/ Imo, the reason for such a low current valuation is that high gas fees resulted in their product becoming unusable. However, all this will change by the end of March as the team will be releasing PlotX V2 on ETH L2s, with effectively gasless transactions for the final user!

3/ The platform will go live on @0xPolygon (ex Matic) before the end of March, and the team confirmed in a recent AMA that it will also work on @optimismPBC & zkRollups, and will include fiat on-ramps directly to their L2 platform, making new user onboarding a whole lot easier.

4/ Now on to the product. @TryPlotX is a decentralised predictions market platform where users can currently bet on future prices of crypto assets by taking a bullish, bearish or neutral position. And the winning position shares all the amounts staked (or bet) by the losing ones

5/ But if we are betting on crypto prices, why not just trade on an exchange?
Well, the idea is that simply placing a bet on whether BTC or ETH price will go up, down or stay neutral is much simpler than trading on an orderbook exchange and can reach a much broader market.

6/ And within the Prediction market space, @TryPlotX stands out for a number of reasons, the main ones being its AMM (Automated Market Maker) based approach to market creation and its fully automated creation of prediction markets through smart contracts.

7/ Thanks to the AMM approach to creating new markets, PlotX avoids the issue of liquidity bootstrapping. There are 3 liq pools per market (for bullish, bearish and neutral positions) and users simply stake funds in their preferred pools, thus creating the market liquidity.

8/ When a user takes a position and adds funds to a pool, the amount of “stakes” in the position they will get will follow a formula depending on multiple factors, incl. the size of the pool compared to the others, the amount of time left before the prediction window closes,…

9/ ...where the current price is compared to the 3 different positions, or the amount of leverage the user is using. So rewards become higher for those betting earlier, on positions that are further from the current price, and on positions currently the least bet on.

10/ The other major innovation on PlotX is that thanks to its modular architecture, new markets can be created (and old ones renewed) in a fully automated way. Just point to the desired trading pair & price oracle, the desired time frames, and the PlotX protocol will do the rest

11/ The current existing markets are based on ETH and BTC prices, but any trading pair can be added through governance and implemented right away with no need for additional human intervention. DOT/USD has already been voted and will be added once PlotX V2 goes live on L2.

12/ PlotX's decision to focus on crypto native prediction markets at first (crypto asset prices) and on shorter time frames (4h / 1d / 1w) was a conscious and pragmatic one, to make sure the product is simple and reliable, with a straightforward interface and instant rewards.

13/ At a later stage other types of prediction markets will be included such as sports and election results, in addition to a much larger number of trading pairs on the crypto price prediction markets.

14/ Now to the $PLOT token itself. $PLOT is PlotX’s utility and governance token, offering governance rights (incl decision on which new markets are listed on the platform), lower fees (0.05% when betting with $PLOT vs 0.1% with $ETH), and staking + liquidity mining rewards.

15/ Max supply of $PLOT is 200M, with 32% for seed/private/public sales, 25.5% for team, advisors & early supporters, 22.5% for ecosystem development (staking, referrals, airdrops, etc) & 20% for project reserves (allocated through governance).
Vesting schedules detailed below:

16/ Liq mining with #Uniswap LP tokens is available with 190% APY and staking on @oropocket’s Unifarm went live on March 3rd with up to 250% APYs. PlotX also introduces the concept of participation mining, where users participating in its prediction markets earn $PLOT rewards.

17/ PlotX also introduces non-transferable bPLOT tokens, to be distributed as referral rewards, airdrops, etc, which can only be used on the platform, so they actually bring new users to PlotX. Once used, bPLOTs are burned and replaced by actual $PLOT from the community reserve.

18/ Looking at the competition, $HXRO, which offers a more gamified (and centralised) version of such crypto price based prediction markets, sits at a $83M MCap. And the OG prediction markets @AugurProject ($REP) and @gnosisPM ($GNO) sit at $174M and $200M MCaps respectively.

19/ With PlotX now sitting at $3M MCap, or over 25x from the closest competitor, you can understand why I believe this is a hugely undervalued project and why I expect it’s price to do a whole lot of catching up once the platform goes live on @0xPolygon in a couple of weeks

20/ PlotX is led by @ishgoel, former CTO of @NexusMutual ($NXM currently at $413M MCap). The team also includes other former NexusMutual and @GovBlocks team members, so this is a team with a proven track record of delivering major crypto projects

21/ Current partnerships include @chainlink (providing price oracles for the prediction markets), @0xPolygon (integration with Polygon’s L2), @GovBlocks (governance) and @magic_labs (which will implement simplified authentication and user-flow using delegated key management)

22/ Lastly, apart from the coming L2 integration + fiat onramps (and likely listing on @QuickswapDEX), PlotX’s roadmap also includes a decentralised positions trading exchange, where users will be able to trade positions with each other and liquidate positions before they expire.

23/ A few links to finish:
Project wiki: docs.plotx.io
FAQ Medium article: medium.com/plotx/most-fre…
Whitepaper: docsend.com/view/nnea7um44…
DexTools: dextools.io/app/uniswap/pa…