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Well, I spent a good chunk of my Saturday diving into @TryPlotX $PLOT. People have been talking to me about it left and right... so heck, I decided to give it a closer look and present my findingsPlotX, *Non-Custodial Prediction Markets for Crypto Traders*.
A thread #DeFi
WHAT
PlotX is a non-custodial prediction protocol that enables users to earn rewards on high-yield prediction markets. Dubbed the Uniswap of Prediction Markets as PlotX will be using an AMM algorithm for markets creation + settlement and rewards distribution on Ethereum.
PlotX is a non-custodial prediction protocol that enables users to earn rewards on high-yield prediction markets. Dubbed the Uniswap of Prediction Markets as PlotX will be using an AMM algorithm for markets creation + settlement and rewards distribution on Ethereum.
WHAT SIMPLIFIED
If the above gave you a headache, let me break it down for you. PlotX allows players to take (leveraged) bullish, bearish or neutral positions in different markets (eg BTC/USDT). Markets and transactions process Uniswap style and rewards are distributed instantly
If the above gave you a headache, let me break it down for you. PlotX allows players to take (leveraged) bullish, bearish or neutral positions in different markets (eg BTC/USDT). Markets and transactions process Uniswap style and rewards are distributed instantly
WHY
Wth are prediction markets and why do they matter though? These are markets to trade the outcome of events. The prices indicate what the crowd thinks the probability of the event is, hence you are somewhat crowdsourcing intelligence. "Wisdom of the crowd"
Wth are prediction markets and why do they matter though? These are markets to trade the outcome of events. The prices indicate what the crowd thinks the probability of the event is, hence you are somewhat crowdsourcing intelligence. "Wisdom of the crowd"
TEAM (1)
The team gets a substantial weight while valuating. I'm looking for proven execution and a successful trackrecord. Looking at the founders, @ishgoel and @nitikagoel_ are resp. ex-CTO and ex-Lead dev of @NexusMutual - a high profile and leading #DeFi insurance platform.
The team gets a substantial weight while valuating. I'm looking for proven execution and a successful trackrecord. Looking at the founders, @ishgoel and @nitikagoel_ are resp. ex-CTO and ex-Lead dev of @NexusMutual - a high profile and leading #DeFi insurance platform.
TEAM (2)
Kartic co-founded http://govblocks.io with Nitika and set up India's largest blockchain comm. Satheesh A brings 25 years CXO experience, having worked at reputable organizations as Cognizant.
Needless to say that for this metric, PlotX has passed with flying colors.
Kartic co-founded http://govblocks.io with Nitika and set up India's largest blockchain comm. Satheesh A brings 25 years CXO experience, having worked at reputable organizations as Cognizant.
Needless to say that for this metric, PlotX has passed with flying colors.
MVP
Seen too many projects raise funds with a whitepaper idea and zero code. Not going down that road again, Sir. Luckily this is not the case for PlotX. Their public alpha was launched start of August 2020 and I even got to play with it on the Kovan testnet.
Seen too many projects raise funds with a whitepaper idea and zero code. Not going down that road again, Sir. Luckily this is not the case for PlotX. Their public alpha was launched start of August 2020 and I even got to play with it on the Kovan testnet.
Got me some kETH, connected via metamask and made a leveraged prediction on BTC/USDT. The overall experience was pretty smooth, and the interface is very userfriendly and straightforward.
If you want to test the alpha and join their PlotX alpha challenge: https://alpha.plotx.io/
If you want to test the alpha and join their PlotX alpha challenge: https://alpha.plotx.io/
$PLOT UTILITY
1. AMM Mining - incentives for market creators
2. Referral Mining - refer and earn bPLOT
3. Community Mining - mine bPLOT airdrops
4. Play Mining - stake and earn extra positions
5. On-Chain Governance - define PlotX protocol future
6. Liquidity Mining
1. AMM Mining - incentives for market creators
2. Referral Mining - refer and earn bPLOT
3. Community Mining - mine bPLOT airdrops
4. Play Mining - stake and earn extra positions
5. On-Chain Governance - define PlotX protocol future
6. Liquidity Mining
COMPETITORS (MC in USD)
- @AugurProject $REP: $71M
- @gnosisPM $GNO: $50M
- @Synthetix_io $SNX: $614M
Elaborate comparison by the team: https://docs.plotx.io/faqs#how-is-plotx-different-from-projects-like-augur-synthetix-binary-options-and-hxro
- @AugurProject $REP: $71M
- @gnosisPM $GNO: $50M
- @Synthetix_io $SNX: $614M
Elaborate comparison by the team: https://docs.plotx.io/faqs#how-is-plotx-different-from-projects-like-augur-synthetix-binary-options-and-hxro
TECH INTEGRATION & PARTNERS
- @chainlink : oracle
- @provablethings : oracle
- @maticnetwork : Layer 2 solution partner
- @chainlink : oracle
- @provablethings : oracle
- @maticnetwork : Layer 2 solution partner
FUNDRAISER
This is where things get *really* interesting. I've seen smaller private pool allocations been fought out. There's healthy vesting which could provide for an interesting listing for public round participants.
The public sale has 2 rounds and happens via @TheDaoMaker
This is where things get *really* interesting. I've seen smaller private pool allocations been fought out. There's healthy vesting which could provide for an interesting listing for public round participants.
The public sale has 2 rounds and happens via @TheDaoMaker
Round 1 is a PlotX community offering where people that have been actively helping PlotX protocol in testing and development on the Ethereum Kovan testnet, as well as active participants in PlotX socials and competitions have a higher chance to be included.
Round 2 is a so called SHO (Strong Holder Offering). OPT (a previous SHO's token) tolkenholders proving their strong hands and having held min 200 OPT (at 3,5 usd = ~$700) will get a chance at winning tickets.
My takeaway here is that both rounds honor the most loyal, hardcore and supportive community members, with healthy distribution.
Looking at previous ROI of DAOMaker's SHOs, those that manage to join the offering could be in for a treat - though here are never guarantees #DYOR.
Looking at previous ROI of DAOMaker's SHOs, those that manage to join the offering could be in for a treat - though here are never guarantees #DYOR.
TRACTION
PlotX' community traction since the PLOT Head Alpha Challenge has grown impressively since they gathered over 1600 predictions and +1700 kETH staked in the first 2 weeks from launch.
- https://t.me/plotx_official
PlotX' community traction since the PLOT Head Alpha Challenge has grown impressively since they gathered over 1600 predictions and +1700 kETH staked in the first 2 weeks from launch.
- https://t.me/plotx_official
#DeFiRaccoons
If you like this thread, then do like and retweet. This is no financial advice and DYOR. Please join our DeFi group: http://t.me/DeFiRaccoons
If you like this thread, then do like and retweet. This is no financial advice and DYOR. Please join our DeFi group: http://t.me/DeFiRaccoons
Edit in TEAM; @karticrakhra cofounded GovBlocks with both Ish & nitika
