Greetings, dear community members. We still have not published a lot of information, on Prosper core features as well as on our future plans, but the time has come. In this article, we will explain the core features of the Prosper Platform, which differ it from ordinary prediction markets and share latest insights on upcoming events and our future plans.
Custom pools
What makes a real difference from other prediction markets that exist on the market, our goal is to achieve much more user control over all the processes that are happening in Prosper. One of our key principles is to be as user-friendly as possible plus providing certain customization, so that is why we are implementing custom pools. Here is how to create a custom pool — a user that is willing to create own prediction pool has to hold a certain amount of platform tokens. In exchange for that, the Pool Owner can set his custom fee rate, to receive an income from his prediction.
Our team has already made some progress in coding custom pools into Prosper Smart contract, and thus we plan to turn it on after the mainnet launch in November, 2020 Besides, we think that custom pools will allow users to hedge more different holdings. While initial version is at place, users will be able to create different pools with the following settings:
- Different tokens: BNB, ETH, TRX or BTC;
- Timeframe: 1, 4, 24 or more;
- Custom commission rate.
To be more clear: Custom pools functional is already good to go, but we still need to shift to mainnet, before turning it on.
Liquidity program
The main problem of exciting prediction markets is a lack of liquidity. We are going to solve it in a simple way by making a friendship with math :) (As well as by fiat integration).
Since Prosper is a short-term prediction market, the probability of winning is close to 50%. Expected value for liquidity providers is always positive on the distance. Basically, our liquidity program is similar to the one, which is used by binary options. Liquidity providers will have benefits:
- 0% fees;
- High APY income;
- Maximum insurance fund;
The provided liquidity is divided between pools with the lowest liquidity based on AI and professionals decisions.
You can even become “the House” working with us. Another thing, which is deserved to be mentioned here is that we will not accept $PROS liquidity points, users will be able to participate in our LPP only with stablecoins and chain-main assets (BNB and ETH).
Bet insurance
We’ve already published a detailed article on our insurance system a couple of days ago, you can always find it here.
So here is just a quick summary of our insurance program:
Each one of Prosper users may reserve and save some amount of official Prosper token — $PROS in order to ensure his own bet. As for the maximum amount of the reserved tokes, it actually equals 10 percent of the user bet amount. Each exact pool has its own insurance fund. When the rewards are about to be distributed, 15 percent of the prize is being taken and moved to the pool insurance fund and distributed to those users, who have lost their bets, but reserved $PROS tokens for the insurance of their bet. The distribution is linearly based on the amount of reserved tokens. How the distribution is going to work with the Prosper Insurance in place, is schematically represented on a picture below.
Prosper features in early stage
- Cross-pools and Express betting: bet with the multiple conditions (or to the multiple pairs);
- Bet leverage: increase your pools share by $PROS lock-up;
- Wager: 1vs1, 3vs3 and 5vs5 predictions, make some fun with your friends;
- Volatility pools: pools on price changing percentage;
and more.
Future plans and community roadmap
First of all, let us answer the question why prediction markets haven’t succeeded so far? In our opinion, they are too crypto-orientated. We think that the combination of liquidity from the fiat markets and gamification of the prediction process can shape this industry. And this is what we are going to do.
What we have at the moment
As far as you already know, we are currently in MVP stage working on Binance Smart Chain Testnet and Ethereum Kovan. However, we can assure you that from our side everything is ready for the mainnet.
Poller mainnet: when and how
Before shifting, we need to get confirmation from our oracle partner that he has tested price feeds for the Binance Smart Chain and they are working fine. While we are waiting for that, we decided to prepare something special for you. You already could notice that our design looks more like a draft and hell yea we are aware of that. Briefly:
Prosper is expected to go live on mainnet (both: Binance Smart Chain and Ethereum) between 15th and 25th of November, featuring:
- An upgraded version of UX/UI design (it will be a complete redesign with gamified elements);
- Rebranding: yes, yes, we will change the name, as our community feels that “Pooler” is very close to “Poorer” :D;
- BNB, ETH, BTC and TRX pool support;
- 1, 4 and 24 hour timeframes;
- Custom pools;
- Your prediction analytics;
Shortly after the mainnet launch (or even before that) we will conduct a TGE and open our funding history for the public. Users also will be able to participate in our small community sale and promotional events, so stay tuned. Prosper listing is expected to happen closer to the end of November with the initial market cap in $500,000.
Stages and roadmap
By the end of the year, we are going to concentrate our development efforts at the following features:
- Token integration;
- Bet insurance;
- Fiat integration;
- Cross-pools and express betting;
- Liquidity provider program;
- Wager function;
- Referral campaigns;
- Additional timeframes and assets, more possibilities of customization;
All features mentioned above are expected to be released until the end of February 2021. After that, we will release our plan of global expansion, which we already have in mind. Stay tuned.
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