As the world of blockchain technology expands and new decentralized innovations enter the field, new Polars smart contracts take the whole game to a new level by offering a decentralized finance-centric prediction market.
Blockchain-based prediction markets are not new to the blockchain ecosystem as other projects are already penetrating the field, but Polars are entering to solve a significant problem of liquidity provisioning through the creation of popular events as well as through incentives appropriate to reward.
Basic concept of the Polars ecosystem
Users can choose to make predictions about real-world events ranging from sports to politics by teaming up with a White Team using White Tokens or Team Black using associated Black Tokens. If any of the selected teams wins, the price of the corresponding token increases while the other decreases by the same amount. However, the total price of both tokens will always remain constant.
The Polars ecosystem is a unique and multifunctional ecosystem with many features, each built to provide a gamified experience to users on the card. The Polars smart contract comes with a simplified application with intuitive prompts that allow users to buy, sell, add, and remove supported assets as other familiar smart contracts work.
In practice, the Polars system allows a user to make predictions and monetize from the change in the price of the platform’s polar tokens (WHITE and BLACK) after the end of each event.
Polars platforms offer multiple unique ways to generate profits as users can earn from Liquidity provider fees, POL fees, and farming rewards. Depending on the interests of the users, they can take on different roles when interacting with the platform, including liquidity provider, trader or bookie, referee, market creator or POL holders.
Polars also prides itself as a multi-chain DeFi ecosystem, and when fully functional, it will integrate its smart contracts with Binance Smart Chain (BSC), Ethereum Blockchain, and Polkadot, offering its users a wide range of options to interact with the platform.
What’s in the Works for the Polars Ecosystem?
The Polars team is currently actively developing the smart contract MVP that will launch Beta testing for pre-registered users. Beta testing is free, but it basically comes with two unique opportunities, including opening access to a POL token pre-sale for less than 15 cents for the tester and an airdrop for testers, and the projects are listed on the Uniswap decentralized exchange and automated market maker.
The pre-sale will be quickly followed by a public sale on Balancer, where the price of tokens will start at $ 1 and will give testers enough advantage in a short time. A total of 5 million POL tokens have been allocated for the Uniswap airdrop, and users can go to the Polars website to register to be among the testers in the promotional bulletin.
As part of the milestones to look out for after beta testing is complete, there will be a two-day auction on Balancer LPB with a starting price of $ 1 followed by a listing on Uniswap. From now on, the liquidity farm event, in which 5 million POL tokens have been allocated, will be launched both on the Ethereum network via Uniswap and on the BSC via Pancakeswap. To get involved, POL liquidity will need to be added to both exchanges.
The official launch of the Polars Platform on both the Ethereum mainnet and Binance Smart Chain will occur right after the liquidity farming event. The fully functional Polars ecosystem will also have community governance through voting, benefiting from instant distribution of earned incentives.