Polkamarkets

Overview of 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– creating a new category of market pairs for predictions in crypto spot prices, futures prices, Esports and Sports events, political events, and even things like weather.
  • Polkamarkets aims to solve the low usage & volume problems by incentivising liquidity providers and traders to facilitate & take large positions, while a system for curation and resolution ensures efficient and trustworthy markets.
  • Polkamarkets’ built in tools and liquidity provisioning logic help allocate and source liquidity in the most efficient and strategic manner possible with risk management tools which include high-slippage alerts.
  • Polkamarkets hopes to create a solid prediction that would allow individuals to predict the outcome of sporting events, e-sports, elections, and even the prices of stocks and other altcoins.
  • Polkamarkets also concluded a highly successful strategic sale round, which saw investors throw their weight behind it, with the platform raising $625,000 within a couple of weeks.
  • Polkamarkets combination of prediction markets and DeFi is a stroke of genius as it grants the platform its unique capabilities and confers multiple advantages over its peers.
  • Polkamarkets launched its token $POLK on February 24, 2021 with 100 million $POLK tokens created at genesis (subject to vesting) and an initial market cap of $610,000 USD.
  • Polkamarkets, a platform planning to launch gamified predictions market on the interoperable Polkadot, has partnered with Polygon, as per a press release on Mar 9.
  • Polkamarkets has secured backing from significant names like Moonrock Capital, NGC Ventures, MorningStar Ventures, Astronaut Capital, and Spark Capital.
  • Polkamarkets price Index provides the latest POLK price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

    • Blockchain

    Powered by DeFi, NFTs and Polkadot, Polkamarkets is a prediction market that uses the blockchain to offer a decentralized and interoperable information exchange and trading network where users take positions on outcomes of real world events.

    Mine

    ● Promotions and Giveaways
    ● Liquidity Provisioning and Rewards for LPs
    ● Mine $POLK by forecasting on Polkamarkets
    ● Mine $POLK by providing liquidity to Polkamarkets
    ● Yield Farm $POLK● Take positions on events in real time in Esports, Sports, Crypto Prices, Politics, & More.

    Network

    This is why we are excited to announce that Elrond Network will be integrated with the Polkamarkets platform, allowing their users to monetize predictions on events such as smart contract outcomes or asset prices.

    What Is A Prediction Market?

    What is a prediction market? To understand that, we must first understand what the meaning of a “market” is.A market is simply defined as a group of individuals that purchase or sell goods or services.These “goods” can refer to anything, from groceries or stationary, financial assets like banking and stock market services or other types of services.

    How do I buy Polkamarkets?

    It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Polkamarkets.

    How Does Polkamarkets Change The Prediction Markets?

    Polkamarkets is a DeFi-Powered Prediction Market that takes an innovative approach to prediction markets.Using blockchain technology gives people more access to prediction markets while also allowing them to earn from their prediction of real-world events.

    What is 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 on Polkadot.

    What hashing algorithm does Polkamarkets use?

    Polkamarkets is a coin that uses the ETH Token algorithm.

    How Many $POLK Coins Are There in Circulation?

    Polkamarkets launched its token $POLK on February 24, 2021 with 100 million $POLK tokens created at genesis (subject to vesting) and an initial market cap of $610,000 USD.Strategic Sale is vested 25% on TGE, then 25% monthly over the next 3 months.Public tokens are fully unlocked.For liquidity tokens, 10% on TGE, 10% per month over 9 months.On Marketing tokens, 10% on TGE, 5% per month over 18 months.Team & Foundational tokens are fully locked for one year, then vested 25% quarterly.As for the token distribution, 28% is for Strategic and public sales.Marketing is reserved for awareness, partnerships and exchange listings.Liquidity Fund will provide funds for Uniswap and other exchanges’ liquidity.Team and Advisors with 10% of the total token distribution, Foundational Reserve with the remaining 20%.

    What is POLK Token by Polkamarkets?

    POLK token is the utility token by Polkamarkets and is used for mining, liquidity providing, fees collection and yield farming.It has a total supply of 100M tokens.

    How Does A Prediction Market Work?

    Prediction markets work in a reasonably straightforward way.Prediction markets have two types of shares; YES Shares and NO shares.The YES shares are long shares, and the NO shares are short shares.The payout on predictions depends on if the event occurs or not.

    What Is The Problem With Prediction Markets?

    Prediction markets suffer from issues such as low liquidity, fewer markets, and a lack of traders.The total prediction volume averaged only $1 million per day in 2020, and this figure was even smaller in previous years.Such low numbers make it impossible for traders to take sizable positions or hedge against future outcomes.Low volumes also lead to low liquidity, leading to low fees for platform providers due to the lack of active traders.

    Who Created $POLK?

    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.

    What is Chainlink (LINK)?

    LCX AG is a company registered in Liechtenstein No.FL-0002.580.678-2.LCX AG is regulated by the Financial Market Authority of Liechtenstein under the registration No.288159 as a trusted technology service provider.

    What Are The Features Of Polkamarkets?

    The approach taken by Polkamarkets towards prediction markets is a suitable solution to improve trade volumes and gives users several additional benefits.Polkamarkets has introduced a new approach to prediction markets and forecasting and is all set to become the prediction market space’s go-to platform.

    Where Can I Buy Polkamarkets ($POLK)?

    $POLK will be first sold on the Polkastarter IDO platform, and later be made available for trading on decentralized exchange Uniswap.

    How Does Polkamarkets Function?

    Polkamarkets allows users to monetize their predictions of real-world events.They can do this within an interoperable and decentralized environment.It allows users to convert their beliefs into assets that have financial value and can be traded in an open market.

    Where can I get Polkamarkets wallet?

    Polkamarkets produces its own wallet software that is available for download on its website, which allows you to store Polkamarkets on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

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    What Is Polkamarkets ($POLK)?

    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 on Polkadot.

    What Is Polkamarkets?

    Polkamarkets is a DeFi powered prediction market.It introduces an innovative approach to the prediction and forecasting markets.Polkamarkets hopes to use blockchain technology to open up the market to more users worldwide and help users with an alternative means to earn money through their predictions.

    What is 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.Forecasting and providing liquidity to Polkamarkets will earn users $POLK, the platform's native utility tokens.By joining the power of DeFi and liquidity incentives to prediction markets, Polkamarkets aims to be the premiere forecasting tool on the blockchain.

    What Are The Issues That Prediction Markets Face?

    We’ve already discussed how prediction markets function; however, what are the issues that they face? Prediction markets face a severe lack of liquidity and a lack of traders.There is also the presence of duplicate markets that further complicates matters.A lack of decentralization and legal issues also severely limit the size of their user base.This results in a less diverse crowd, in turn affecting the prediction quality.

    What is the value of Polkamarkets?

    One Polkamarkets (POLK) is currently worth $1.43 on major cryptocurrency exchanges.You can also exchange one Polkamarkets for 0.00002555 bitcoin(s) on major exchanges.The value (or market capitalization) of all available Polkamarkets in U.S.dollars is $32.66 million.

    How $POLK Works?

    Polkamarkets is an open and decentralised prediction markets platform where traders can gather and exchange information.This information is tokenized as shares of specific outcomes in a variety of genres and timelines: from Sports and Esports, to crypto prices, politics and long-tail events resolving in the distant future.

    What coins are similar to Polkamarkets?

    The following coins use Polkamarkets’s ETH Token algorithm and proof-type: Chainlink, THETA, Binance USD, DREP, DREP [old], PancakeSwap, Aave, FTX Token, Maker, Crypto.com Coin, Dai, Huobi Token, Polygon, Chiliz and Holo.

    Polkamarkets / USD Forecast, POLK price prediction: Buy or sell Polkamarkets?

    POLK Price is 1.545 USD today.

    What is the PolkaMarkets project?

    As already mentioned, it is a project that connects people around the world to bet on real events or even create their own events for other users to bet on.It is a kind of decentralized forecast that uses smart contracts and the Polkadot network to function, eliminating intermediaries altogether.Users can participate either as bettors or as liquidity providers, in the latter case earning fees for their service.

    History of Polkamarkets