PLOT X

PLOT X

PlotX is a DAO with a vision to become self-sustainable and fully decentralized over a period of time - which means that neither PlotX nor the developers of PlotX benefit from or receive any fees from trades, predictions or any other kind of user activity on the platform.

About PLOT X

What is PlotX (PLOTX) marketing strategy?

Prediction markets are a way to sum opinions of many and capture what is known as the "wisdom of the crowd". To be able to achieve that, it is critical for PlotX to reach the masses. If the community is able to achieve that, a new version of information will be created that is driven by true crowd opinions.

In order to attract the wisdom of the crowd PlotX aims to solve the challenges faced by traditional centralized prediction markets. There are 3 core challenges that PlotX solves: counterparty risk, high cost and inability to showcase provably fair settlements of markets.

The DeFi ecosystem is yet to innovate with crypto-native prediction markets. Early attempts to launch Prediction Markets on Ethereum have suffered due to a lack of focus on building crypto-native markets and a lack of maturity of the ecosystem back in 2017/2018.

PlotX is a DeFi prediction protocol that is native to the crypto community, with the following key parameters:

  • Predictions for only the price of digital assets like BTC, ETH, YFI etc to begin with
  • On-chain market creation using AMM driven smart contracts, unlike market creation by individual users with no uniformity
  • On-chain price per position calculation and instant purchase instead of creation of low liquidity order books
  • On-chain market settlement wrapped in a gamified experience with 'Participation Mining'

PlotX Community stands by the ethos of Abraham Lincoln's very famous saying: "The best way to predict your future is to create it". A critical aspect of PlotX growth is to drive education and research for the community to understand the value add and also the risks associated with prediction markets.

PlotX community members are called PLOT Heads and they are the driving force behind the PlotX movement. The PLOT Head community follows the 2ED principle - Educate, Engage & Drive adoption

  • Educate: Driving education about PlotX, explaining the utilities of the protocol, product's vision and the risks associated with prediction markets.
  • Engage: Introducing ideas and complementary skills to what PlotX is today with a vision of furthering the attempt at driving adoption.
  • Drive adoption: Use the protocol responsibly and invite peer networks to do the same while explaining the risks.

    What makes PlotX (PLOTX) unique?

    Existing platforms like Synthetix, Augur and others have done a great job at kickstarting the innovation behind prediction markets. However, these projects were unable to bootstrap liquidity and provide seamless user experience in their attempts. PlotX aims to solve these shortcomings with the following key features:

    • Risk Deleverage

    PlotX also provides risk deleverage that allows users to limit their risks while buying positions, unlike traditional all-in binary options.

    • On-Chain Governance

    The protocol & dApp follow a pragmatic on-chain governance approach, powered by the GovBlocks smart contracts (the solution used by Nexus Mutual).

    • Liquidity Mining via Yield Farming for Liquidity Providers

    To bootstrap and encourage liquidity for the PLOT token, users who stake their PLOT tokens on specified PLOT liquidity pools on DEXs (to be announced) will be incentivised by providing extra PLOT tokens as rewards for providing liquidity.

    To earn the yield farming rewards, liquidity providers on DEXs will have to lock their LP tokens on PlotX Staking Smart Contract. The yield farming incentives will be distributed per second with no limitation on minimum staking days.

    • Play Mining

    Users are incentivized to stake their PLOT tokens prior to participating in the prediction market, in order to earn extra positions and thus extra rewards via the stake multiplier.

    The best part being, even if users lose in the prediction market, they will not lose the staked PLOT tokens.

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