Polars (POL) Blockchain Based Prediction Market Launched on HECO Chain

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Polars: Multi-chain prediction marketplace Polars announced the launch of its mainnet on HECO Chain and Binance Smart Chain. Polars aims to fix the gaps in the prediction market industry and provide users with a whole new experience. To commemorate this important event, the Polars team is holding a trading competition on the HECO Chain with a prize pool of $300,000. Participants also have the chance to be rewarded with rare, non-tradable tokens (NFTs).

Polars, a blockchain-based decentralized prediction marketplace that claims to focus on removing the challenges plaguing prediction markets and providing users with a whole new experience, has launched its mainnet on HECO Chain.

While the adoption of distributed ledger technology has managed to limit a wide range of issues that are limiting the growth of prediction markets, including manipulation of prediction results, lack of transparency and trust among others, the large number of blockchain-based prediction markets currently in existence still do not provide users with the best experiences. .

Now the Polars team claims to have successfully created an innovative system designed to revolutionize the traditional forecasting model.

“There is a deep and longstanding problem facing prediction markets in the decentralized financial industry. It is a liquidity and trading volume vicious circle based on the popularity of the forecast event. “Users are often reluctant to make predictions for unpopular events, and liquidity providers are not in a hurry to add liquidity to unpopular events, which leads to users’ reluctance to predict due to high slippage… and so in a circle.”

Polars says it has created a series of tokens with constantly concentrated liquidity. The price of these polar tokens is constantly and consistently affected by the outcome of various real-world events predicted by users.

“All activities on the Polars platform are extremely liquid regardless of popularity. Likewise, Polar token prices move constantly, regardless of whether users are guessing or not. This innovative pooling system provides users with endless arbitrage opportunities. This is what makes Polars the most liquid and high-volume prediction market in the DeFi space!” Explains Polars.