First OPT DAO Influencer Task - Article - ipek
Open Predict; Rising Star Of The DeFi Market
Hello blockchain enthusiasts.
Financial circles have finally realized the opportunities offered by blockchain technology! I’d love to make that sentence, but not yet. Traditional financial companies are still trying to ignore blockchain technology (perhaps we should see this approach as a conflict of interest.) Traditionalists in financial companies, or, more broadly, CeFi companies, stay away from DeFi projects. But you can’t cut the front of a river, it finds itself an absolute on another way, and it keeps flowing. DeFi projects are like Big Rivers. They grow fast, which will attract everyone’s attention with their growing arms. Because blockchain investors, in particular, have become aware of the great opportunities that decentralized financial transactions can offer. Without the need for a broker, multi-alternative investment opportunities, and the chance to increasingly use initiatives in all kinds of financial transactions have encouraged people to invest in DeFi projects.
The Open Predict project, which I will share with you today, is also a rising star of DeFi projects. With its decentralized finance protocol, it offers very remarkable opportunities, especially for forecasting markets. Although forecasting markets are not very new, they are not very common investment instruments due to an excess of investment risks. Open Predict brings insurance to this market with decentralization and smart contract capabilities offered by blockchain technology to minimize risks in prediction markets. Let’s take a look at the forecast markets without going into the details of the Open Predict project.
What Is The Prediction Market? How to invest?
A prediction market is a betting market where participants can trade information other than cryptocurrencies or options, based on the results of future events. Although forecast markets are similar to speculative markets on one side, they have a very important difference. “Information” in forecasting markets determines the direction of investment. A properly regulated forecasting market is also a powerful forecasting tool for accurately evaluating and planning the future. Because the forecast market provides an economic incentive for those who know to share their knowledge. It reflects “the wisdom of the crowds“ in providing forecast market information. The reflection of collective insight into the data in the financial market creates important frosts in future planning. In short, forecast markets are the source of information. It is even considered the main source of reference in the form of New Democracy known as “futarchy“.
But there are two very important problems in forecasting markets.
- The first is that your investment remains tied up until the end of the period set for your estimate. For example, in 2022, the Ethereum Network will use the PoS mechanism, and you must wait until 2022 for a contract to take place. This, in turn, means a new burden on liquidity woes as warehouse tokens.
- Second, let’s say Ethereum failed to perform this network refresh, in which case you will go bankrupt. You’ll lose all your money.
Open Predict’s Solutions:
Open Predict is the protocol that converts live forecasts of investors into liquid assets. Open Predict has a wide range of products. The main purpose of the developed products is to protect investors from high risk in the cryptocurrency market. Let’s examine its functioning in the forecasting markets.
Now let’s go with our example of Ethereum Network. Open Predict starts the activity.
“Prediction: Ethereum Blockchain will start using the PoS mechanism at the end of 2022”
In this case, the positive result of the forecast will be “o”, and the negative result will be “io”. Protocol 3 creates a smart contract. The escrow agreement in which the funds are collected, the “o” and “io” agreement. A bet of at least $ 50,000 must be placed to start an event. And you can buy contracts based on the positive or negative outcome of the forecast.
In a typical predictions market, it is necessary to wait until the end of 2022 for the money invested in this activity to enter the market again. And as an investor, you either earn well. Or you’ll lose all your money.
The Open Predict protocol changes the dynamic by giving these forecasts a liquid value that can be traded on the decentralized exchange.
It gives the company that prints ”o“ and ”io” Tokens the chance to create liquidity for these tokens. Open Predict is paid a 1% fee for tokens, and during the swap, the smart contract connects a 0.1% fee. These printed tokens are valued according to the state of activity in the market. If there is an acceleration in the PoS process in the Etherium Blockchain, the value of “o” tokens will increase, and if the idea that things are going wrong prevails, the “io” token will gain value. In this way, your forecast bet will be tokenized and will gain liquidity, and you will be able to take new positions according to the changes that occur during the process associated with this forecast.
Initially, Open Predict will centrally check the status of the event to meet the necessary conditions, but if you examine the roadmap, the event launch event from the third quarter of 2021 will occur with DAO.
DETAILED TOKEN METRICS:
OPTToken Price:$0.1 (all phases)
Tokens for Sale:2,500,000 (25.25%)
Presale:40% unlocked day 1, 60% unlocked over 2 months
Public Sale: None
Community Incentives:5% day 1 for liquidity offering, followed by 1 year of equal monthly vesting
Staking Rewards: Unlocked in proportion to user staking
Team:1 year lock, followed by 1 year of equal monthly vesting
Advisors:6 month lock, followed by 6 months of equal monthly vesting
Foundation:1 year lock, followed by 1 year of equal monthly vesting
Marketing: Unlock over 1.5 years, split on a monthly basis
OPT DAO and OPT HUB:
If you examine the roadmap I gave above, OpenPredict has moved the unlimited possibilities of decentralized blockchain networks to its protocol. It has a wide range of products. It will continue with TrustPredict in the coming days. The branding of the Open Predict project, the development of its ecosystem, and, of course, the formation of the OPT HUB, which will be the igniter and carrier of this development, takes place with the cooperation of a great master. DAO Maker has collaborated with branded projects such as LTO, ONE, FRM, ERD, AVAX, ORN, and NEM. By launching communities of projects, it has offered software or long-term management support to social mining efforts. DAO Maker, the architect of DYCO and SHO token funding models, is also in partnership with the Open Predict team. As a result of this collaboration, the OPT DAO platform has started OPT HUB registration for people who have adopted the project. If you want to be part of the community and participate in social mining, join us. To become a member of the community, you only need to meet two requirements. The first is 25 OPT hold in your wallet, and the second is the request to join the Open Predict family.
Thank you for reading.
Writing By: ipek
Open Predict Usefull Links:
Community Chat: https://t.me/openpredict
OpenPredict Announcements: https://t.me/OpenPredictAnnouncements
Trading Chat: https://t.me/OpenPredictTrading
LinkedIn: https://www.linkedin.com/company/openpredict/ OpenPredictweb : https://openpredict.io/