reBaked is delighted to announce that the Venue One predictions protocol as the 2nd project that will be launching through the reBaked Pioneers product. The launch will fast-track Venue One onto the larger market and provide it with the community, talent, liquidity and collaborative support needed to increase value offering.
The launch of Venue One on the reBaked platform is a major boost for the reBaked Pioneers product, highlighting market demand for it. The product is specifically tailored to allow reBaked platform participants to access highly-skilled tech and marketing talent for fast-tracking projects. The reBaked platform provides access to a diverse network of top builders with the core skills required by Web 3.0 startups: design, product, engineering, marketing, and community building. By onboarding top talent as collaborators in a project, investors also feel more secure, since they know that a project has the support of talented contributors who have aligned motivation to make a project a success.
reBaked is confident that the Pioneers product will allow Venue One to transform its collaborators into active stakeholders and promote meritocracy, and identify opportunities to join projects early and receive an allocation in the lowest valuation offered, thus unlocking extremely rewarding financial opportunities. Most importantly, the reBaked development team believes that Pioneers will allow building a community of contributors that will elevate the combined value offering of Venue One and make it attractive to both users and potential investors.
Venue One is a non-custodial blockchain predictions protocol that allows its users to take up positions in sports, eSports, finance, events and many other markets involving predictions and earning opportunities on them. The platform is built on the fast Algorand blockchain that has solved the scalability, security and decentralization problems of first generation chains. Venue One is run by a global team with extensive experience in a variety of markets, allowing the project to touch on the pain points of prediction markets and their users. The project is building multiple market types on Decentralized Finance, Sports and eSports predictions using its Venue Custom Prediction Index (VCPI) technology. The VENO community token will power player and LP rewards based on inclusivity and fairness with category leading opportunities to participants. Venue One also supports stablecoin integration with fiat ramps to USDC and USDT with more global currency stablecoins in the pipeline.
Among the main features that Venue One will be introducing for its users are short duration markets in finance, eSports, sports and other events. Binary and index markets will also be included with an intuitive user interface, designed for mobile supporting all operations. USDC and USDT will be used for collateral and payouts, while VCPI technology will be used for supporting Long/Short leveraged market positions
Overall, Venue One is an engaging product that has fresh and unique opportunities to trade on a daily basis on global markets with fiat usage available and $ALGO onramp for users who do not hold USDC/USDT stablecoins. The Venue One development team is placing immense focus on the fact that the service is fully Non-Custodial and that AI will be utilized to create a fully personalized user journey for participants.
The Venue One decentralized prediction markets exchange is also the first project incubated with the use of the Algorand blockchain as its infrastructure. The advantages of using Algorand are many, considering that it is a blockchain-based cryptocurrency platform that aims to be secure, scalable, and decentralized. The Algorand platform supports smart contract functionality, and its consensus algorithm is based on proof-of-stake principles and a Byzantine Agreement protocol. Algorand’s native cryptocurrency is called Algo. In the Algorand network, the consensus algorithm is permissionless, and all users who hold an Algo balance can participate. The consensus algorithm works in rounds, with each round made up of two phases. Algorand is resilient against arbitrary partitions, also known as asynchronous safety. Two different blocks cannot reach consensus in the same round, i.e. it is mathematically guaranteed that Algorand will not fork. The asynchronous safety has also been formally verified by Runtime Verification Inc. and compared to their previous verification models, the model also accounts for timing issues and adversary actions, for instance when the adversary has control over message delivery.
The partnership with reBaked will prepare Venue One to launch in full to ensure proper market fielding and promotion before a broad audience of both target users and potential strategic ecosystem investors. The availability of talent on the reBaked platform will provide services related to design, product, marketing and development with the main goal being the growth and scaling of the Venue One project across the decentralized markets industry.
Venue One will aim to be operated by the community, meaning that the reliance on the reBaked DAO founding principle will allow it to establish the necessary governance initiatives. The partnership with reBaked will be the first step for a community owned and maintained predictions markets exchange on blockchain, opening up multiple opportunities for its users and attracting new potential audiences.
The reBaked project is continuing to advance its development as more decentralized industry participants are expressing interest in taking advantage of the opportunities offered by the host products deployed by reBaked. The versatility, functionality and value generation power of the Pioneers product is a key selling point that has allowed it to become the service of choice for Venue One.
Make sure to stay updated with our social media to learn more about Venue One and it’s expecting launch through reBaked!
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