Veil weekly updates: November 5, 2018

Here’s a summary of new features and developments from the last week.

Meme markets

We’re fascinated by internet-native markets. One of the most notable examples right now is r/MemeEconomy, where over 700K people are “investing” MemeCoins in new memes. This paper explaining the economy is one of the better white papers I’ve read recently 😉.

Inspired by the community, we decided to add markets to Veil that track the performance of r/MemeEconomy posts. These markets expire 12 hours after the memes are posted on r/MemeEconomy and pay out if the post in question has at least 1,000 upvotes on Reddit upon expiration. Try trading in the first two r/MemeEconomy markets here and here.

More crypto derivatives

We formerly had weekly BTC/USD and GAS/GWEI scalar markets and end-of-year ZRX/USD and REP/USD binary markets. This week we added more products:

  • 24 hour BTC/USD scalar markets. These markets expire at 4pm PT everyday, and their bounds are reset each day such that the next day BTC/USD price will fall within the bounds 90% of the time.
  • 7 day REP/USD and ZRX/USD scalar markets. These expire at 4pm PT every Friday.

See a full list of all open markets here:

Best performers from the last week

We’ve enjoyed keeping an eye on the leaderboard and want to highlight the top 5 performers from last week on Veil. Congrats to @augurinsider, 0x202218d2dfef8cdc62d87e6583bf8c9c688344af, 0x57f9d342295e4b21deff93ed415f50ec1004c813, 0xf1f9d6b2bd68729415d096ccafe6325ca1fee6a5, and @patmayr. Clearly we’re still very early—and only on Kovan—but it’s exciting to see so many people using Veil!