Prediction markets have always intrigued crypto enthusiasts just as much as DeFi markets. But the only problem was the shortage of a reliable prediction platform where security of assets takes precedence. Such a DeFi-cum-Prediction platform is Polars.io. This unique project claims to create secure digital tokens called Polar tokens whose price relies on the outcome of certain events. It is possible for users and participants of Polars market to sell, buy, or even exchange Polar tokens among themselves. Participants could also get income through fee distribution.
The main advantage of Polars is that its concept solves the problem of low liquidity that plagued all former prediction market crypto solutions and platforms. The concentrated liquidity comes from the collaboration of not only predictive market participants but also a huge number of liquidity providers, traders, and holders of polar tokens.
The Basic Concept of Polars:
Polars.io is a great opportunity to earn income from during these trying times as it offers both DeFi and Prediction market capabilities. Polars are based on Polar token protocol that exists in two different and complimenting forms (BLACK and WHITE). The main principle of Polar token protocol is that when the value of one token rises, the value of the other tokens falls by the same level i.e., the collateral is always unchanged in the end.
The Polars.io team features a DeFi platform where a combination of different functionalities like Predictions, Arbitrage, Trading, etc come together with DeFi mechanics that include liquidity providing, staking, lending, farming, etc. Polars team is also working on adding NFT elements to their platform which would serve as a finishing touch.
- Apart from the concept that Polars.io is known for, the following facts make this project one-of-a-kind type of unique:
- The foremost version of Polars token protocol is based on Binance Smart Chain. But the team behind Polars is looking to add support for other DeFi-friendly blockchains like Near protocol, Solana, and HECO.
- Polars platform users do not only get the best of both worlds (DeFi and Prediction markets) but also a chance to receive additional benefits based on the trading volume and trading volume of invited referrals.
- Non-fungible tokens and gaming elements could be offered by Polars.io platform based on their popularity and growing demand.
- Between the two teams, namely WHITE and BLACK, whoever wins completely depends on external factors such as a sports event, or any other scenario where two parties are opposing each other.
- Unlike some primitive prediction market opportunities, dozens of events could occur on the Polars platform in one day, which translates to dozens of opportunities for Polar tokens to change values.
- Polars platform has two different types of pools. One is its unique prediction pool that follows its own protocol. The other one is Trade pool.
- Polars betting pools stands tall among all other alternatives available in the market because it does not only allows users to bet on liquidity for polar tokens but also enjoy fixed spot prices that do not display any kind of slippage.
How does Polars intend to do business?
As we can grasp from the aforementioned details regarding Polars rare platform, it might not be clear to see its business model.
Polars ask for a commission to be paid by every active user to clear transaction within the prediction pool. This commission is spent on various valued tasks like POL buyback and burn (40%) increasing colaterization of polar tokens (both WHITE and BLACK) (5%).
A fixed amount of commission is also paid by active users within the Trade Pool and most of it is paid to liquidity providers and the rest goes to buyback and distribution among Advanced users of the platform.
The list of Polars partners and sponsors is quite as long as its features. Few of the noteworthy companies which have been active in the crypto industry for a long time have signed partnerships with Polars. These companies include; HECO, Fetch.ai, STOIC, Exilon, Mettalex, Roobee, ExpX, Minto, Nomad exiles, and even Blockchain Cuties Universe.
What’s ahead for Polars.io?
Recently polars has officially launched its platform on one of the most-awaited HECO Chain. Post-launch, both the testnet and mainnet version of polars platform would be functional on the HECO ecosystem through Polars application.
The marketing team is also gearing up for the biggest trading competition on December 3, 2021 occurring on HECO chain testnet platform. This particular trading competition would go on for 10 days in honor of the launch of Polars mainnet.
The total prize pool announced by the Polars team for their biggest ever trading competition is close to $300,000 including additional airdrop for qualifying participants. All important rules and regulations regarding the competition can be found on their official website.