Prediction market or betting protocol on Tezos

[Baking Bad 5]

A new DeFi project has been released recently: Juster.fi

It is a betting platform based on Tezos, which allows to place bets for a cryptocurrency price prediction.

It using the same principles as the binary options, but in a strict time interval determined by a smart contract.

At the moment there are only BTC, ETC and Tezos, more currencies are expected to add.

Each event goes through three phases:

•         Collecting pools, time when users can make bets. A potential profit varies depending on the ratio. 

•         The measurement period: start price is fixed and Juster begins to track the price dynamics according to Coinbase Harbinger oracle

•         The winning bets can be withdrawn after the period ends, or will be provided automatically after  some delay

 

What's special: there is an option to provide liquidity for betting events, which may alternate the common DeFi projects. You can add your assets to the liquidity pool for each event. It will give you a share of the event fees and you will gain\lose a share of all betting losses\winnings. In other words, you can prove yourself as a marketmaker.

 

What’s the plan?

There will be an extension of the event list with more currencies and a variety of currencies. Also there is a plan to list internal tokens.

 

Why Tezos?

Drastically low gas fees. Tezos is a modern blockchain renown by a plenty of NFT projects, due to a small minting costs.

 

Project is developed by a Baking Bad team, a prominent Tezos contributor.

 

Links: GitHub, Twitter, Discord, Docs