The time has finally arrived for https://dublup.io/ to be presented to the hive community. DublUp is the prediction market that works on hive-engine and uses PAL to create markets for just about any event you can imagine.
Use it to guess who is going to win the big football game on Sunday.
Use it to your hedge crypto portfolio with PAL-settled futures markets.
Use it to guess when Joe Biden will be pushed out of the Presidency by Kamala Harris.
You can make markets out of any event that can be independently verified by the oracles.
Here's how it works:
- A user creates a market for 100 PAL, which are burned
- The market creator and other users can place PAL in the various options by purchasing market shares for 10 PAL per share
- Once the primary phase of the market closes, all trading from then until settlement by the oracles is peer-to-peer
- After the event closes, oracles vote on the outcome and develop consensus
- Once consensus is achieved, 95% of the PAL in the market is distributed to the share-based winners, 4% of the market PAL is split among the oracles, and 1% of the market PAL goes to the market creator
So head on over to https://dublup.io/ log in with keychain or smartlock and place your PAL
Questions, comments, feedback, requests? Join our discord at https://discord.gg/wTTXFzMEcG
Excellent! Looking forward to this.
Beautiful! was looking forward to this.
Incredible. Love your work :)
This sounds like a lot of fun!
Glad I saved up some PAL to blow it all here, nice!!!
Buying some PAL now to play.
This is looking like a lot of fun! Good work!
This is really interesting.
Lol... I doubt if l have any tangible Pal on Amy Wallet.
Well, let's see how it goes.
Well Done
let's do it baby!
nice! we needed this.
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This is awesome!
I tried to create a market on US Politics but it seemed only one question was available.
Will the Oracle votes be transparent? (Just in case Oracles vote for something that is clearly incorrect and well publicized).
You can create a custom market (underneath the categories) just be specific about what it is and where to verify, and yes everything is recorded on the blockchain, including Oracle actions. There's also a reputation system and monetary incentives for Oracles to be correct, so and "bad apples" should be out very quickly.
Automatic reputation or manual reputation system? Say some oracles decided Trump won the election when Biden clearly is the president at this very moment. Do they automatically lose reputation or do people have to manually see that and take action.
If it's the latter.... woof. Good luck! I think we all know people are apathetic at the best of times.
It's based on who wins the market and which oracles chose incorrectly. You get +1 rep for choosing correctly, and -10 rep for incorrect.
!WINE
Cheers, @sifondeseltz You Successfully Shared 0.100 WINE With @dublup.
You Earned 0.100 WINE As Curation Reward.
You Utilized 2/3 Successful Calls.
WINE Current Market Price : 1.100 HIVE
Questions:
Good ones.
I think protection of funds will be secured by Hive engine p2p system, as with it's implementation it is difficult to hack.
Having a P2P network doesn't protect you from hacks. For example on ethereum there have been several instances where DeFi projects have lost millions.
In this case if you buy a share in a prediction market you have to send Pal to an address. How are does funds protected? Who controls that account? How can we verify that?.
Those are the questions.
The funds are held in an escrow account and the system uses active authorities to trigger contract transfers automatically without exposing keys beyond the necessary dev setup.
The code is not currently open source.
Since Hive-Engine has now gone DPOS it would be cool to use those features :P
Quite interesting. I wish you good fortune in the wats to come. It's Superbowl weekend so it would be great to try it in that game. Regards
The first market made was actually for the "big game" this weekend. It's one of the bigger ones so far!
Excited!
Ps. Staked more $PAL today
We appreciate your support!
la verdad es muy instructivo lo que explayaste, gracias.
definitely missing a referral program