Decentralized Finance Meets The Prediction Market with Polars.io
Introduction to Polars
Polars.io is a new decentralized finance (DeFi) project on the Polar ($POL) Token Protocol that’s made for the prediction market. Within the POLARS platform, users can buy, sell and exchange polar tokens, and participate in the distribution of the platform’s commission income. The protocol is built on two tokens; when one token rises in value, the other falls the same amount, meaning their aggregate value remains the same.
Back in May 2021, Polars conducted beta testing of their application, and over 30,000 users attended. After making some changes, including an improved design and audit, Polars is now ready to launch their mainnet.
How Does Polars Work?
The price of the Polar ($POL) token depends on the results of specific external events, such as sporting events, eSports tournaments, cryptocurrency fluctuations, and more. Users can make predictions and can earn on the change in the price of Polar tokens after each event concludes.
There are two teams: White and Black. If the White Team wins, then the price of the White Token will rise, and the price of the Black Token will fall by the same amount. The same happens if the Black Team wins; the price of the black token will rise while the White Token falls. Their sum will always remain stable.
There are two pools on the platform; the Prediction Pool and the Trade Pool. The Prediction Pool is all about fixed prices, unlimited liquidity, and no slippage. The prices in the prediction pool will change at the end of the event, and are locked in once the event starts.
If users want to trade during the event, they can utilize the Trade Pool, which is a fork of the balancer pool. This pool contains the market price of POL and there is slippage.
Features of POL
Polar Token has many features. First, Polars is a governance token, meaning users can get POL through the platform. They can trade, provide liquidity, and vote with their holdings.
There is also a revenue share among the community. 40% of all commissions are received by liquidity provides, 30% are received by advanced users, and 25% is bought back and burned.
Polars also says their platform is easy-to-use and intuitive. Its design is based on the Uniswap interface, so users who are familiar with Uniswap should have no problem navigating the platform.
The Polars process is also gamified, so users get rewarded for being on the winning team. There’s also a cumulative price impact, so price impacts can carry over from event to event, so the rewards can be cumulative through all 15 events in a day. Users can also utilize the Trade Pool to buy Polar tokens at fixed current spot prices without any slippage.
The Big Testnet Trading Competition
Polars is also launching a Big Testnet Trading Competition, where there will be a $300k+ prize pool and rare NFTs from Polars’ sponsors given out to POL holders. Each participant in the trading competition will receive airdrops, and the Top 100 Traders will share the prizes. Participation in the Testnet is completely free, and over 20k users have already signed up.
About 30% of the total prize pool will be distributed as airdrops, and the remaining 70% will go to the Top 100 users. The competition will take place on testnet, which means users don’t have to spend their own money to become familiar with the platform. Prizes will be paid out in the mainnet.
Buying $POL and Referral Program
Users can trade POL on Pancakeswap and Uniswap. Polars also has a Referral Program that includes rewards based on trading volume. Referrers can receive 0.005 POL for every $1 traded by your referral. This translates to 5 POL for every $1000 traded. To receive rewards, users need to hold at least 500 POL. Users can register for the Polars Referral Program here.
Users can also receive 0.01 POL for every $1 of their own trading volume. In other words, users can receive 10 POL for every $1000 they trade.
The referral program will be active on testnet throughout the competition and users can continue to operate on the mainnet once it is launched.
Join the Polars Community
Website: https://polars.io/
Telegram Channel: https://t.me/polarsio
Telegram Channel Polars.io Events (Black & White): https://t.me/polars_events
Polars Info Bot: https://t.me/polars_io_bot
Twitter: https://twitter.com/polars_io
Bounty-campaing: https://sweepwidget.com/view/40034-u829ebh1
Check out Polars.io if you’d like to learn more about the platform. Thank you to Polars for sponsoring this article. This is not financial advice. Please do your own research before investing into any platform. Make sure to subscribe to the VoskCoin YouTube Channel for the latest cryptocurrency news and review.
