Decentralized platform Polars announced the launch of the mainnet on the HECO and BSC blockchains.
The Big Trading Competition coincides with the launch of the mainnet, meant to teach users how to use the platform, bet, trade, and quickly handle all the possibilities of the mainnet.
Polars Base Concept
There is a pair of polar tokens, Black and White. Their price depends on the results of specific external events.
Dozens of events can take place on the platform every day, and the price of polar tokens can change dozens of times.
There is a Black and White team playing for each token. If the Black team wins, then the price of the Black token will rise, and the price of the White token will fall by the same amount, and vice versa.
Black and While aggregate collateral remains stable regardless of the price of polar tokens.
The Main Advantage
Polars is not an ordinary prediction market since the project’s creators solved the problem of low liquidity of unpopular events.
In a traditional prediction market, users don’t want to bet on unpopular events, and liquidity providers don’t want to supply liquidity to such events.
On the Polars platform, it doesn’t matter if the event is popular or not because the liquidity is supplied not to the event but to a pair of polar tokens. So even if no bets have been placed on the event, the value of the polar tokens will change and create arbitrage opportunities. So far, no prediction market would offer such an advantage as Polars.
Development
Before the final launch of the mainnet, the Polars team carried out beta testing of the platform in May 2021, with more than 30k users participating. Also, they held a trading competition with more than 10k participants. The trading volume then reached $800 million in 10 days. Testing helped to determine bugs and collect user feedback to consider them in the mainnet. Zokyo audited the project.
Update
The project carried out several updates regarding the business model, buyback and burn mechanism, pools, the allocation of fees, as well as updates and improvements to tokenomics. The team also announced soon plans to implement DAO, which will enable users to have more influence on the platform’s development. And now the icing on the cake – referral and bounty programs.
Besides, the platform and social networks have got a new bright interface.
Big Trading Competition
The Big Trading Competition will take place on the HECO Chain testnet blockchain. The main task of the trading competition is to show users all the possibilities of the network, to teach them how to use it for different tasks, whether betting or trading. Participants will be rewarded for participating in the competition. The project made new partnerships to sponsor the competition, so the prize fund is now more than $300k! 30% of the fund will be allocated among all participants as airdrop, 100 most enthusiastic participants will receive 70%. The trading competition also refers to referral and bounty programs.
Keep track of the project, for there is so much interesting in the future: regular trading competitions already on the main network, as well as the launch of the Polars launchpad.