First OPT DAO Influencer Task - hopelivescr
OpenPredict: A DeFi That Turns the Predictions Into the Liquidity!
One of the first things we learned as blockchain enthusiasts are that blockchain applications are almost only limited by our imagination. Especially considering the diversity of crypto projects that exploded after the bull market in early 2018, it’s clear how true this proposition is.
Bitcoin itself has already begun to revolutionize the entire market by its very nature but other crypto assets are trying to move this revolution further.
When we look at the market part, we can say things are much more complicated. It is almost a prerequisite for people who want to invest to learn many different techniques and fundamental details, while at the same time developing very good predictive skills. So everyone involved is always predicting.
The OpenPredict project that I’ll talk about in this article is a project that will come into action at this point.
Let’s look at the details!
What is OpenPredict?
OpenPredict is essentially a DeFi (Decentralized Finance) platform that will allow you to turn your specific prediction into value. You can evaluate your estimates with the wallet-quality product it will put forward and its infrastructure accordingly, you can manage your money equally and also earn extra profit. I think it’s a brilliant idea!
So how will the mechanism of this system work? Let’s talk about it now!
OpenPredict will help us with an application called TrustPredict. Let’s see how to do step by step:
❶ First of all, we need a certain amount of funds to make predictions. For this, we can use all popular crypto assets, ERC-20 tokens, even unlisted cryptos under certain conditions. We buy some and use it to fund our predictions.
❷ 3 contracts are created for us to predict. One is the “o” token that contains our prediction, the other is the “io” token, which contains the opposite of our guess, and finally an escrow contract.
❸ If the result is consistent with our prediction, “o” token will be rewarded. If not, the “io” token will get it.
❹ At the end of the event, your win rate depends on the number and side of the guesses.
Note that you can predict any event you want. Game results, stock or crypto prices etc.
In short, the system works like this. For more detailed information, check out here.
Another good point I want to talk about is the social mining campaign launched via OPT, the token of the OpenPredict platform.
Those who are familiar with the subject are also familiar with social mining activities taking place on the DAO Maker platform as I guess. For those who don’t know about it, let me explain, social mining is an application that enables you to earn a certain amount of project tokens by introducing that project with quality content to the public. OpenPredict also partnered with DAO Maker, which runs social mining campaigns of important projects such as Elrond, 2key, LTO, Ferrum, NEM, Avalanche. Social mining campaign started after the SHO (Strong Holder Offer) conducted, which OpenPredict used for fundraising and after it’s listed on Uniswap and Poloniex.
Each month at least $5000 will be distributed to the participants from the OPT community platform, in short, hub.
How to Participate?
● First, sign up to the OpenPredict community page here. It is important for your role in the community that you choose the fields of work in which you are most successful as a member.
● Then link the wallet with at least 25 OPTs to your profile with Metamask.
● Then complete your profile by filling in the required parts and fulfil the tasks sent to you according to your role in the community.
Taa Daa!! Now you are a member of the community and the harder you work, the more reward you’ll get.
OpenPredict, which started out with really reasonable fundraising and promised a serious token price with a total supply of less than 10 million, steals my heart with the idea it put forward. Therefore, I wanted to introduce you by writing this article.
Thanks for reading and see you in the next articles, stay healthy!
If you want to dig further, please chek these links below!
Writen by Open Predict Community Member — hopelivescr