As the world of blockchain technology expands, and new decentralized innovations are introduced into the space, the new Polars smart contracts are taking the entire game to a new level by introducing a decentralized finance-centric prediction market. Blockchain-based prediction markets are not new to the blockchain ecosystem, as other projects already permeate the space but Polars is making its entry to solve an age-long challenge of liquidity provisions through the generation of popular events, as well as commensurate incentives to reward participants.
The Basic Concept of the Polars Ecosystem
Users can choose to make predictions on real-world events ranging from sports to politics by pitching tents with either a White team that uses the White Tokens or the Black Team with the associated Black Tokens. If any of the chosen teams wins, the price of the corresponding token increases while the other decreases by the same amount. The aggregate price of both tokens will however always remain stable.
The Polars ecosystem is a unique and multifunctional one with many features all built to offer a gamified experience to users across the board. The Polars smart contract comes with a simplified application with intuitive prompts that can let users buy, sell, add, and remove supported assets just as other familiar smart contracts work.
In practice, the Polars system lets a user make predictions and earn on the change in the price of the platform’s polar tokens (WHITE and BLACK) after the end of each event.
The Polars platforms offer more than one unique way to earn profit as users can earn from Liquidity provider fees, POL fees reward, farming rewards. Depending on the interest of users, they can assume different roles when interacting with the platform including liquidity provider, trader or bettor, arbitrator, market creator, or POL holders.
Polars also prides itself as a multichain DeFi ecosystem and when fully functional, will have its smart contracts integrated with the Binance Smart Chain (BSC), the Ethereum Blockchain, and Polkadot, giving its users a wide range of options to interact with the platform.
What is in the Works for the Polars Ecosystem?
The Polars team is currently actively developing the smart contract MVP that will usher in the Beta testing for pre-registered users. The Beta testing is free but comes with basically two unique opportunities for the tester including opening access to POL token presale at a low price from 15 cents as well as an airdrop for testers immediately the projects get listed on Uniswap decentralized exchange and automated market maker.
The presale will be swiftly followed by a public sale that will take place on Balancer the price of the tokens here will start at $1, giving the testers enough advantages within a short time. A total of 5 million POL tokens have been reserved for the Uniswap airdrop and users can go onto the Polars website to register to be among the whitelisted testers.
As part of the milestones to watch out for after the Beta testing is concluded is the two-day auction that will be held on Balancer LPB with a starting price of $1 , and a subsequent listing on Uniswap. Thereafter, the liquidity farming event of which another 5 million POL tokens have been earmarked will be launched both on the Ethereum network through Uniswap, and the BSC through Pancakeswap. To get involved, POL liquidity will have to be added to either exchange.
The official launch of the Polars Platform both on the Ethereum mainnet and the Binance Smart Chain will just after the liquidity farming event. The fully functional Polars ecosystem will also feature community governance through voting, with users benefitting from prompt distribution of earned incentives.