Get Ready to Predict and Win Big on the Revolutionary Polkadot-Based Platform
If you are someone who is interested in predicting future events or outcomes, then you must have heard about prediction markets. A prediction market is a platform where individuals can trade contracts that pay out based on the outcome of future events. Polkamarkets is a decentralized prediction market built on the Polkadot network. It is a platform that allows anyone to create and trade prediction markets with high liquidity and low transaction fees. In this guide, I will show you how to create a prediction market on Polkamarkets in just two minutes. YES, 2 MINUTES!
Step 1: Access Polkamarkets
The first step to creating a prediction market on Polkamarkets is to access the platform. You can do this by going to the Polkamarkets website and clicking on the "Launch App" button. This will take you to the Polkamarkets trading platform.
Step 2: Connect to Your Wallet
Once you are on the Polkamarkets trading platform, you will need to connect your wallet. Polkamarkets supports MetaMask wallet, currently on the Polygon, Moonriver and Moonbeam Networks.
Step 3: Create a Market
Now that you have connected your wallet, you can create a prediction market if you hold 1,000 $POLK. To create a market, click on the "Create Market" button. You will be asked to provide some details about the market, such as the market title, the market description, the expiration date, and more.
Step 4: Set the Market Conditions
After providing the details of the market, you will need to set the market conditions. This includes setting the outcome options and the probabilities of each outcome (currently 50-50 but they will change this in the future). You can also set the initial liquidity of the market.
Step 5: Fund Your Market
The last step to creating a prediction market on Polkamarkets is to fund your market. You can do this by providing liquidity to the market but remember it has its risks as it can lead to near total loss as market prices can move abruptly at any time. Once you have provided liquidity, click on the button “Create Market“, you should be good to go and your market will be live and ready for trading.
That easy, right? In just two minutes, you can create a prediction market on Polkamarkets. With its high liquidity, low transaction fees, and decentralized structure, Polkamarkets is a promising project with a bright future ahead. Whether you are interested in predicting the outcome of sports events, elections, or other future events, Polkamarkets provides a platform for you to do so. So why not give it a try and create your own prediction market today? Who knows, you might just be the next big winner on Polkamarkets!
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