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Polars, a decentralized platform, announced the opening of the mainnet on the HECO and BSC blockchains.

The introduction of the mainnet coincides with the opening of the Big Trading Competition, which is intended to teach users how to utilize the platform, bet, trade, and swiftly manage all of the mainnet’s potential.

There are two polar tokens, Black and White. The outcomes of particular external events determine their value Every day, thousands of events can take place on the platform, and the price of polar tokens can fluctuate dozens of times.

Each token has a Black and White team competing for it. If the Black side wins, the Black token’s price will rise, while the White token’s price will fall by the same amount, and vice versa. Regardless of the price of polar tokens, collective collateral stays unchanged.

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Polars is unlike your typical prediction market since the project’s designers addressed the issue of low liquidity for unpopular events. Users do not want to wager on unpopular events in a typical prediction market, and liquidity providers do not want to give liquidity to such events.

On the Polars platform, it makes no difference if the event is popular or not because the liquidity is delivered to a pair of polar tokens rather than the event itself. Even if no bets are taken on the event, the value of the polar tokens will fluctuate, creating arbitrage opportunities. So far, no prediction market has provided such a benefit as Polars.

The Polars team conducted beta testing of the platform in May 2021, before the official launch of the mainnet, with over 30k people participating. They also organized a trading competition with over 10,000 participants. In 10 days, the trade volume had risen to $800 million. Testing aided in the identification of issues and the collection of user input in order to include them into the mainnet. TZokyo audited the project.

The project made various revisions to the business model, buyback and burn mechanism, pools, fee allocation, and tokenomics upgrades and enhancements. The company also revealed intentions to incorporate DAO in the near future, allowing users to have a greater say in the platform’s growth. And now for the cherry on top: referral and bounty schemes. Furthermore, the platform and social networks now have a more visually appealing layout.

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The HECO Chain testnet blockchain will be used for the Big Trading Competition. The major goal of the trading competition is to demonstrate to consumers all of the network’s capabilities and educate them on how to utilize them for various purposes, such as betting or trading. Participants will be compensated for their participation in the tournament.

The initiative formed additional agreements to sponsor the competition, increasing the prize budget to more than $300,000! As an airdrop, 30% of the fund will be distributed to all participants, with the top 100 most passionate participants receiving 70%. Referral and bounty systems are also included in the trading rivalry.

Keep an eye on the project since a lot is going on in the future: frequent trading contests on the main network and the debut of the Polars launchpad.

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