The future is always uncertain because there is no way to know what will happen. However, using experience, careful observations, and calculations, predicting an outcome’s chances is possible. From time immemorial, the right prediction has always been sought after, be it the outcome of a sporting event, elections, and even finances. The modern prediction market is enormous. Today, large corporations such as Google use these markets to forecast strategically important events, such as product launches, startups, and technology traction.
PlotX is a decentralized platform that is all set to bring prediction markets to the rising DeFi phenomenon. It has teamed up with DAOMaker to be the next in line for their lucrative Strong Holder Offering.
Current DeFi Issues and PlotX Solutions
As simple as it may seem, prediction markets are cumbersome. Intermediaries and closed systems rob the market investors of their hard-earned money:
· Trust Issues: Closed and unreliable, market operators do not give information to investors. They withhold crucial data such as how the odds are calculated, who the participants are, and how the event outcome profits were calculated.
· Commission: As middlemen, these market operators take a hefty charge for their services, eating into not only the profits made but charging for even taking part in the market.
· Isolated: Market players are not aware of how many other investors are vying for the outcome of an event, what they are investing, and what predictions are being made. This data can be useful and even change the strategy of a market player.
PlotX takes the prediction market and merges it with DeFi. Based on smart contracts, the platforms offer complete transparency to the whole industry. No intermediary would charge high commissions, meaning the profits are passed on to the prediction winners. The clarity and openness of blockchain mean that every participant is aware of the complete workings, what is going on, and what is the trends in the predictions. PlotX leveraging blockchain to offer speed of interaction, instant liquidation, and flexible turnaround times of 1 hour, daily, and even weekly predictions.
Rather than take the traditional way of funding through ICO and IEO, PlotX has taken a different approach. It has been witnessed repeatedly that excellent projects face serious failure issues due to investors planning short term profitability. The tokens are bought feverishly only later to be dumped in the market for instant profits. This has a drastically negative impact on the project and often leads to its collapse.
To counter this, PlotX is taking two different approaches to the token distribution:
PlotX Community Offering
PlotX believes that the people who have been associated with the project since the start are the ones who deserve the most. For this, it is currently making a Community Offering, where people have taken part in running the PlotX test net and participated in its community and competitions. The older a participant, the higher a priority he or she has. Users will need to whitelist the wallets they have been using during the test net phase to take part in the offering.
There is a total of $125,000 worth of PlotX tokens in the community offering, distributed among 250 lucky winners. The Community Offering is in progress and will end on the 28th of September at 1000 UTC. The winners will be announced a few hours later at 1400 UTC. The successful participants will have 6 hours to reply in kind by completing their KYC/AML checks and submitting their funds.
To take part, users can get themselves whitelisted by visiting this link and clicking the Whitelist tab.
DAO Maker`s Strong Holder Offering
DAO Maker has been running the SHO model successfully. In this model, only people who have a proven track record of being sincere to the projects under DAOMaker can take part. OpenPredict was the last successful SHO and participants have to show that they are still holding on to the tokens as a sign of being sincere to the development of platforms and that they are not investors who are only concerned about making a quick buck.
The OPT SHO was one of the most successful ever, with OPT having a staggering ROI of 12,000% at its all-time high. A participant will need to hold at least 200 OPT tokens to be able to qualify for the event. Since there are only limited tokens available, not all participants will be catered. To increase the chances of being selected, the winning criteria is based on three different factors:
· How many tokens are held.
· How long are they stored.
· Participation in the OPT Uniswap Pool for liquidity.
There are $75,000 worth of PlotX tokens for 150 successful winners. The SHO event will start the next day of Community Offering, i.e., 30th of September, 2020. Applications for participation will be accepted till 1st of November, 1300 UTC. Winners will be announced 2 hours later, and they will have till 1700 UTC to submit their KYC and AML documentation, along with their funds.
Going to the same link as above, people willing to participate in the SHO can head towards the respective tab.
PlotX Review by DAO Maker: https://daomaker.com/sho/plotx
Read up on the PlotX whitepaper: https://docsend.com/view/nnea7um4434u49uh
Check out the website: https://plotx.io/
Join the Telegram Community: https://t.me/plotx_official