OpenPredict
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OpenPredict

Looking Back, Looking Ahead: Year-End Message 2020

First, we would like to start by thanking our amazing beta testers who have been playing an active role in advancing the product. The growth of DeFi has been incredible without showing any signs of slowing down. We are extremely grateful to be working in this segment.

2020 in reflection
We did our tokensale back in August and raised $235,000 mostly through a lottery process. Our valuation was intentionally low as we wanted the market actors to decide the valuation. No institutional players were accepted, despite strong interests, as we wanted to place the creation of a community first and foremost.

Since then, we launched a Liquidity Provider initiative that rewards those providing liquidity to our Uniswap and Balancer pools. We also expanded our development team to expedite our planned mainnet launch(es).

Tech update
Our protocol’s core functionality, TrustPredict, is nearing its mainnet launch scheduled for early Q1. As a recap, TrustPredict enables a P2P speculation between any two parties on virtually any asset or events without the need for a middleman. It is designed to be easy to use through its simple and intuitive user interface.

A 5-day audit of our contracts was completed by Symbolic Software with satisfactory results. We will continue to maintain a stringent security measures by following industry best practices while looking to work with other security audit providers.

Development of a product that delivers TP’s technology in an engaging way is already underway. It is designed to promote social interactions along with a built-in AMM for an open market of speculations. More information will be released once we are closer to private beta testing.

To overcome the current limitations of Ethereum, work has started on integrating our contracts with a layer 2 scaling solution which will eliminate bottlenecks, reduce fees, and provide a much better experience when interacting with our products.

That being said, our protocol is blockchain-agnostic so we are not limited to just one single infrastructure. Once we achieve a respectable level of user growth and product adoption, we will look into extending to other popular blockchains.

Our road ahead
Now that we are into 2021, you can expect to see several big announcements. This is the year we will start to get noticed for what we have been building. Social mining will restart in a big way to jumpstart our user acquisition plans. You will see a steady flow of partnership announcements along with regular development updates.

Those who participated in the public sale will start receiving the remainder of your locked tokens in August 21 this year, followed by an equal monthly vesting plan. It is our intention to ensure that there will be a strong utility demand for our OPT tokens, achieved through the growth of our products’ usage, thus resulting in a steady demand for OPT.

2021 will be a big year for us. But this is only the beginning and we have much to accomplish. We will not rest until we become the de facto standard for anyone to speculate on virtually anything.

We thank you again for your continued support and we look forward to achieving great things together with our community.

Website: https://openpredict.io
Twitter: https://twitter.com/optprotocol
Community Chat: https://t.me/openpredict
Telegram Announcements: https://t.me/openpredictannouncements

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OpenPredict enables anyone to create predictions on virtually anything.

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Thomas Kal

Thomas Kal

Operations Manager at OpenPredict.io

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