Polars, a multi-chain platform for the prediction market, will hold the Big Trading Competition, featuring prizes worth over $300,000 and rare historical NFTs. Here are the details…
In addition to the competition, the platform will also airdrop.
The competition will start on the HECO Chain Testnet on December 3, 2021, until the launch of Polars MainNet’s HECO Chain and Binance Smart Chain (BSC Network). Polars will airdrop 30 percent of the prize fund to all participants, while the other 70 percent will go to the top 100 POL users. A referral program based on the trading volume of invited users and a lucrative marketing rewards program will also work on the testnet. You can find more information about the competition, including the registration process, here. You can access the YouTube video where you can get information about the project.
About Polars
Polars is a “polar token” protocol that was first applied to the prediction market. Essentially, if the value of one polar token rises, the other will fall, but their total collateral remains the same. There are two teams on the platform: White and Black, each holding tokens of the same name. These can rise and fall depending on the results of external events such as sports games or exchange rate changes, or anything with two opposing sides. If the White Team wins, the value of the WHITE token rises while the BLACK token falls and vice versa. However, whatever happens, their total capital remains the same.
Why Polar?
The Polar token concept helps break the vicious circle of liquidity and trading volume in the DeFi segment of the prediction market. Liquidity providers are not willing to add liquidity to unpopular events as users often focus on the popularity of the forecast event and neglect the unpopular ones. As a result, user interest in forecasting drops due to high slippage.
Polars offers a pair of polar tokens with constantly concentrated liquidity, where the price is constantly affected by the results of various events. This means that any activity on the platform, no matter how popular or unpopular, has excessive liquidity. Polar token prices change regardless of forecasts, so there are permanent arbitrage opportunities.
What else does the platform offer?
Polars is gearing up to launch the platform on the Near Protocol soon, and Polars Launchpad is about to launch, where allocations will be made to the most productive users. In addition, Polars will regularly hold trading competitions on the mainnet with a large prize pool.
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