What is Polkamarkets (POLK)?
POLK is the native token of Polkamarkets, which is a cross-chain prediction market powered by DeFi technologies. It allows users to take bets on the outcomes of real-world events and monetize their forecasts. Thus, it allows them to both – sell and buy forecasts and their outcome. Polkamarkets is based on the Polkadot network.
Check out the Polkamarkets price chart above to see the current POLK price.
Besides, Polkamarkets also plans to offer significant entertainment components in the future in addition to the prediction market. These include daily cryptocurrency price markets, live streaming of e-sports and sports, and NFT-based gamification.
Use Cases of POLK Tokens
In essence, POLK tokens act as a prediction market curation and settlement mechanism. This means that, for starters, users who want to create new prediction markets must hold POLK tokens.
Moreover, to participate in the market resolution through the decentralized bonding technique used by Polkamarkets, users must also hold POLK tokens.
Besides that, users must have POLK tokens to upvote or downvote markets and inform other users and dApps about the quality of prediction markets.
Additionally, POLK tokens act as reward tokens in the protocol's incentives program.
In the future, though, as the Polkamarkets crypto project incorporates more services, POLK tokens will have more use cases.
If you plan to buy Polkamarkets tokens, don't forget to check the live Polkamarkets price chart. It features both – the current and the previous POLK price.
Who Founded Polkamarkets?
Ricardo Marques and Francisco Lourenço are the founders of Polkamarkets.
Ricardo is a successful businessman who has started multiple companies in the forecasting industry. He has worked as a software engineer and developer for more than ten years.
Francisco is a ten-year veteran of the marketing industry and a pioneer in digital, e-commerce, and social campaigns. He has disrupted the go-to-market strategies of major corporations.
Besides that, Henrique Caiano (Product Advisor) and Rui Teixeira (Tech Advisor) are the advisors of the project.
Tokenomics of POLK
The Polkamarkets crypto project has a total supply of 100,000,000 tokens. The distribution of the tokens is the following:
- 25% – strategic sale;
- 3% – public sale;
- 22% – liquidity fund;
- 20% – marketing;
- 10% – team and advisors;
- 20% – foundational reserve.
