A few months ago, we announced that Prosper was being acquired by Animoca Brands. This news brought a lot of attention to Prosper, as well as many new investors, and with them a lot of well-founded expectations.
As we already explained in previous posts, handing over a project is a long and complicated process and rushing it is the last thing we want to do. We are currently still working on the process and joining forces with Animoca Brands teams to make sure we don’t lose any of the great fundamentals of Prosper on the way. We will communicate more on this as soon as we can with transparency like we always do.
However, we feel like people have been focusing on this transition rather than on what the project is about. Maybe because the information is too diluted in our past articles and hard to find, maybe because we slowly let it get behind events and more instant coms. We are also conscious that our developpment path ended up sometimes a bit different from the roadmap we issued at project launch, and that it can induce confusion.
Today, we would like to pinpoint all of the ambitious fundamentals and features that we believe carry the value of Prosper as a crypto project and should help you understand the problems it’s aiming at solving, how we intend to do it, and how powerful we believe Prosper will be in the future.
1. Prediction Market
Prosper aims at becoming a leading flagship in the Predictions field, which is an almost untapped, very promising field of crypto projects. In a few words, Predictions are used to give insights on the probability of outcomes of an event. Predictions could be seen as crypto equivalents to polls and surveys, only much more precise and secured. Predictions will eventually become an entire economic sector where predictions will be bought and sold on Prediction markets like Prosper, for both on-chain (crypto binary options, price predictions, NFTs) and off-chain (social predictions — sports, e-sports, politics, society etc) events.
Now that we’ve defined what Prosper is, let’s talk about what we bring to the table:
2. Non-Custodial and Decentralised
Prosper is designed to match exactly what a Prediction market must be to differentiate itself from what is already existing: security of the funds and security of the predictions themselves.
By being non-Custodial, we insure that at any time, the user remains in possession of his funds. Neither the conceiver (us) nor anyone else can interfere between the anon user and the prediction’s smart contract. No middleman.
By being on-chain, we ensure that all the interactions made with a prediction contract are fully transparent and traceable, and that the prediction is accessible to as many users as possible, increasing its decentralization.
Together, these 2 points solve most, if not all the weaknesses of traditionnal surveys, which are very exposed to data manipulation, interferences, influence of sources etc.
Last, predictions ensure a way greater precision than traditional polls, as predicted outcome is balanced by the inherent risks and rewards on the funds the user has engaged in his prediction
3. Cross chain & Liquidity aggregation
The major issue previous and competiting prediction markets are facing is linked to liquidity. Because the Predictions field is still a niche and because the projects are still in developpment, they have trouble gathering enough users and enough volume of funds engaged in predictions. This is preventing predictions from achieving the required decentralisation and precision they need to make a difference and see adoption.
We identified this weakness in other projects and conceived Prosper as a cross chain market from scratch. We developped the contracts on the Binance Smart Chain, which allows us to have a low fees prediction platform. Then immediately sarted porting it to all of the main chains like Ethereum, Avalanche, Polygon, Tron, Polkadot, Near. We already launched on the 2 first and decided to hold on to Ethereum because of current ethereum’s congestion and TX fees.
Being Cross-chain allows us to gather users from as many crypto ecosystems as possibles, driving up the number of participants in our predictions, increasing their precision and security, hence increasing their value.
It also allows us to aggregate liquidity: allow users to predict in a wide variety of coins and tokens and merge all of these funds into one single prediction, again increasing the prediction’s quality by widening its base of statistical data.
Liquidity aggregation also helps on the user side by making the prediction more dynamic and accessible (guarantee a user many other users will be predicting with him on a particular prediction, increasing his return potential).
4. Platform accessibility and Gamification
This last point brings us to Gamification.
We designed a platform that allows users to place predictions as simply and smoothly as possible, in a fun environment. We decided to place the project under the Bull Vs Bears banner, to keep it rooted into the crypto references.
By implementing user and predictions statistics and data, we are aiming at creating a game in the game: make predicting more attractive by incentivizing users. Based on their stats, such as position in the ladders, badges, and other features, we encourage the user to participate more on the platform and have more fun while providing us with value in the form of predictions. We intend to introduce account levels based on achievements on the platform, and even reward the higher levels with milestones achievement bonuses in $PROS!
5. Token Utility & Features
Our $PROS token was designed as a use and governance token to help this platform adoption process.
As mentioned in the introduction, we are currently working on adapting the features and token utility details to the new possibilities opened by Prosper’s acquisition by Animoca. We originally had a lot of very powerful ideas such as leverage and custom pools, which we still believe will add a ton of value to the project when they are deployed. However, we also must adapt to the enormous potential of the integration into the Metaverse. It means that we might reorganize our priorities, tweak some of the features and token uses we had in mind or even deem some of them not relevant anymore. This process will take some time, but we can already say that Prosper is only becoming even more ambitious than it was, and that we are working to deliver first on the features we believe will add the most value to the platform and partnered games and projects.
We are also in the process of rethinking the token utility to make sure $PROS retains value in the eye of investors, and owning it is incentified when predicting the platform. One of the very first measures of this process is that $PROS will soon become one of the default token for predicting on our prediction platform!
6. Backing and partners
Because we developed Prosper as such and ambitious project, we received a lot of interest from many big names of the crypto industry.
Some of them helped us raise funds to start and develop the platform. Some of them provided us with tools and solutions to problems we faced during the development. We worked closely with teams on all the chains we intend to port Prosper. We concluded partnerships with many projects that had synergies with Prosper.
We believe being well connected in the crypto world and having that many supports, and contacts will help us lead the prediction market niche, both on the long run and when it will start receiving the hype.
7. Integration to Animoca Brand’s Metaverse
One of the companies mentioned above actually decided that Prosper was promising enough that it chose to acquire it, with the intention to integrate it into its metaverse.
What does that mean? Again, the possibilities are infinite. Animoca Brands mainly develops Crypto and NFT games such as The SandBox, the Revv racing universe, Collectible cards etc. There are so many ways Prosper could be integrated in this games that we can’t list them. We can open a virtual Prediction market on The Sandbox, powered by Prosper. We can create Predictions on REVV tournaments outcoms, hosted on the Prosper Platform. Integrate Prosper to any of the play-to-earn games of the GAMEE ecosystem. Host Predictions on many parameters of collectible NFTs, etc. Possibilities are endless and that is a whole new, promising path of development for Prosper.
Learn more about Animoca Brands on their website and follow them on Twitter
Now with all that said, we hope it is clearer for everyone what Prosper is about, what constitute its core value and potential, and how much more ambitious than the competition it is. We want our potential investors to be able to take educated decisions.
We will soon issue a second article to come back on what was done over this first year of project and try and communicate on how we see the future of the project in the next months.
Thank you for supporting the project, participating in our communities, helping us puting the word out there about Prosper. Please share this article to whoever you believe could be interested in understanding Prosper better,
The Team.
