Expert DOJO Invests in Value Network, a Multichain Prediction Markets Protocol
Original post: https://expertdojo.com/expert-dojo-invests-in-value-network-a-multichain-prediction-markets-protocol/
Expert DOJO are proud to have invested in Value Network, a multichain prediction markets protocol. The funds will be used to expand to the global markets, accelerate development progress, and strategically increase the organic user base.
About Value Network
Prediction markets is a dynamic form of a derivative — Binary Option. A binary option is a financial exotic option in which the payoff is either some fixed/dynamic monetary amount or nothing at all.
For example: you have the asset (Bitcoin), Strike price (100000 USD), Time of expiration (3 months). So you are predicting whether the price of Bitcoin will be higher or lower than 100K in 3 months. The settlement of the markets is made by the open-source smart-contract, which checks the Chainlink price oracle at the time of expiration of the markets, and transfers the funds of losers to the winner in the proportion of the pool. If, in the example mentioned above, your prediction was 150$ on HIGHER and other participants predicted 135$ for LOWER, you get 135$ as the return to your 150$ prediction, as you have 100% of the pool. If someone would have joined you on HIGHER with extra 150$, you would get 67,5$ as you proportion of the pool would be 50%.
Founded by Artem Levin, Value Network began product development in September 2020 and has achieved a remarkable growth trajectory since then, with >$600K trade volume, over 1000 unique users, and 18,000 trades.
The team has implemented:
- Prediction Markets Protocol.
- Public Metrics Dashboard allows users to view the protocol’s metrics on-chain.
- Custom Markets, user can select his asset (200+ assets from the Chainlink oracle), strike price, and expiration time.
- On-chain Strategies allow a professional trader to create a profitable strategy, which other traders can copy.
- A more user-friendly protocol interface.
Besides letting users speculate on future price movements of an underlying asset or hedge the risk exposure of their existing positions in a trustless manner on the blockchain, users can create custom markets and copy profitable strategies through the On-chain Strategies feature.
Value Network aims to expand into new geographies and plans a $350–400M trade volume for the year with an interoperable and non-custodial simple derivative tool for institutional and retail investors.
Value Network competes with Polymarket and Augur. In 2020 Polymarket raised $4 million in its investment round with over $130 million in trading volume.
About Value Network
Value Network is a multichain prediction markets protocol that allows users to place trustless P2P predictions on prices of crypto assets on the blockchain, utilizing price data from Chainlink, ensuring transparency and reliability.
We are eager to evolve Value Network into an inclusive community project. If you believe you can help in any way, please join us on the Value Network Telegram channel and introduce yourself.
If you want to get involved with the project, check out our Github and Follow Value Network on Medium, Facebook, Twitter, LinkedIn, and YouTube.