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Doxamarket
@doxamarket
1/ Introducing Doxamarket, the first platform to incentivize decentralized governance through information markets. The launch of the V1 market Didomi provides users the opportunity to speculate $DEGEN 🎩 on @optimism Mission Request Round 2 via Farcaster Frames. https://doxa.market/didomi
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Doxamarket
@doxamarket
2/ The Problem with DeGov An inherent conflict of interest arises when voting power is disproportionately concentrated among a small group of token holders. Smaller delegates within the @optimism ecosystem often refrain from voting due to their individual decisions “not mattering” (voter apathy).
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Doxamarket
@doxamarket
3/ The situation creates a paradox where the promise of decentralization leads to a quasi-centralization of voting power and an absence of true preferences. Doxamarket aims to solve this by offering a novel approach to incentivize voter participation and mitigate the inefficiencies within governance.
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Doxamarket
@doxamarket
4/ Information Markets Onchain information markets have gained immense popularity recently with the rise of Polymarket and Kalshi. We believe information markets carry an element of chaos that could be directly applied to form consensus in decentralized governance. https://vitalik.eth.limo/general/2024/04/01/dc.html
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Doxamarket
@doxamarket
5/ Integrating information markets into the onchain decision-making process introduces a novel way to financially incentivize token-voting, increase voter participation, and force true preferences from broader ecosystem participants.
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Doxamarket
@doxamarket
6/ For the implementation of this idea, Doxamarket (formerly BetCaster) has received a grant of 50,000 OP from Optimism’s Mission Request Round 1.
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Doxamarket
@doxamarket
7/ Didomi, Doxamarket’s V1 Experiment Didomi will grant users the ability to speculate $DEGEN on the winners of OP Mission Request Round 2. Didomi will open today as a multi-option contract market within Farcaster frames and will close on April 24th 7pm UTC.
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