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Nick Tomaino🎩
@nick
“Create your own market” could be a killer growth catalyst for prediction markets. A new business model is unlocked for creators when anyone can create a market on anything and generate a fee. Thoughts?
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Rick
@rickf
I assumed this was already a thing. Do all markets on the major ones like polymarket get spun up in some permissioned way by them?
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Nick Tomaino🎩
@nick
Yes. There are major unsolved problems with a fully permissionless approach as highlighted by @tomkysar
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Lance
@montagnard.eth
There's still probably a way to decentralize the approval of each new market where oracles nodes could get paid to validate that a proposed new markets is valid
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tk
@tomkysar
This essentially becomes market resolution for a pre-launched market, which is really hard to do without a strong financial incentive (who's paying the people to review in such system?) Additionally you can have a tradable "invalid" outcome on every market, however that introduces a whole other skew of UX wrinkles.
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tk
@tomkysar
It works mostly in post-resolution as there is the OI in the market to protect + the stake of any op side. If the oracle fails a resolution, trust in the whole system breaks. Bad markets are OK and don't necessarily need protection from being created, you really just protection for traders to not trade on them.
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tk
@tomkysar
TLDR: I think a more realistic approach is to have a clear way for the market (traders) to signal the market is bad, with something like an invalid tradable outcome. That idea probably has a bunch of iterations and improvements that can be made upon it.
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