[PRESS RELEASE – Please Read Disclaimer]
Polars, a multi-chain platform for the prediction market, will be holding a Big Trading Competition with prizes of over $300,000 and rare historical NFTs.
The competition is set to start on December 3, 2021 on the HECO Chain Testnet shortly before the launch of the Polars MainNet on HECO Chain and Binance Smart Chain (BSC Network). Polars will be distributing 30% of the prize fund among all participants by airdrop, while the other 70% will go to the top 100 POL users.
A referral program based on the trading volume of invited users and a profitable marketing bounty program will also be operating on the testnet.
More information about the competition, including registration, can be found here:
Polars is a polar token protocol first applied to the prediction market. Essentially, if one polar token rises in value, the other falls, but their total collateral stays the same.
There are two teams on the platform: White and Black, which each have tokens of the same name. These can rise and fall depending on the outcomes of external events like sports games or exchange rate changes, or anything where there are two opposing sides. If the White Team wins, the WHITE token rises in value, while the BLACK token falls, and vice versa. However, whatever happens, their aggregate capital stays the same.
The polar token concept helps to break the vicious cycle of liquidity and trading volume in the DeFi segment of the prediction market. As users usually focus on the popularity of the forecast event and neglect unpopular ones, liquidity providers are not keen to add liquidity to unpopular events. As a result, user interest in making forecasts falls due to high slippage.
Polars offers a pair of polar tokens with constantly concentrated liquidity, where the price is consistently influenced by the outcomes of various events. This means that any event on the platform has excess liquidity, no matter how popular or unpopular it is. Polar token prices change independently of forecasts, so there are permanent arbitrage opportunities.
What’s in Store?
Polars is preparing to deploy the platform to Near Protocol soon and the Polars Launchpad is about to launch, where allocations will be made to the most efficient users. In addition, Polars is going to be holding trading competitions with a large prize pool regularly on the main network.