Welcome to the PLOTX AMA with The Gem Hunters.
We would like to thank Ish, Nitika, Kartic & Satheesh for kindly coming to share information on their brand new project with our community.
1) Once again big warm welcome to Ish, Nitika, Kartic & Satheesh from PLOTX for coming, its a pleasure for us to host your brand new project! You seem to have been in this space for a while, we would love to hear more about your own background and your team’s journey so far!
Plotx intro video - https://youtu.be/yOwu0dQ96fE
2) Ok guys so could you give us a brief introduction into what PlotX is and why you’re building it?
We're gonna share a quick screenshot!
Check this out guys.. The markets are as simple as this!
And these are the 3 options available to predict on. The are automatically created using the AMM algo on-chain on Ethereum smart contracts. So basically, every hour new markets are created with 3 options available!
3) So what are the core features of the PlotX prediction markets?
It feels like written messages are working a bit better than the recorded ones! So I'm gonna share a slide on the key features!
So we're talking:
1) AMM and hence no counter party risk
2) Risk De-leveraging
3) On-chain Governance
4) Liquidity Mining & Staking
Here's another cool slide guys!
4) How far off is a product launch and which components will it include?
So we already have the alpha on the Kovan test net. The main net launch is scheduled for late September post our security audit.
Would love for the TGH community to check out the alpha on https://alpha.plotx.io
The Alpha is one amazing piece of playground material! We also have a vibrant community on both telegram & discord. Join us in for some interesting conversations We also like the fact that some of the community have already started experiencing it and giving feedback, expressing opinions and the bells & whistles they would appreciate!
We have a live and working alpha that folks play on, comment, win and are starting to talk about on their social handle as a trader performance indicator!
5) There are a few prediction markets already out there, Augur being one of the older ones, how does PLOTX compare?
Yep, that's a question we get very often. I'm a huge fan of what incumbents like Augur have done - but the one big problem is - there's often very low liquidity. We're changing that with PlotX!
A detailed comparison between PlotX and other prediction platforms has been done on this link:
The top 4 areas where PlotX stands out:
1. Automated Market Making
2. Risk Spread Mechanism
3. Liquidity Mining
4. Reward Schemes
Also, with all other prediction markets, things move very slowly. There are 1-6 month long markets which are great to predict on but not that fun. But PlotX markets are fast, fun and simple :)
6) Will PlotX have a token?
Yep. The PlotX token is called PLOT, an ERC20 token on the Ethereum blockchain.
The token has 5 use-cases:
1) Peer to peer commissions
2) Building in virality by design
3) Wide distribution in communities
4) Liquidity mining
5) On-chain governance
The FAQ shared above has more info on the use cases of the token as well
P2p commissions are really cool. It deflates the token supply. Players can participate in ETH/PLOT tokens to predict. All fees from participants using the PLOT token is burned which causes deflation. On the other hand, fees collected from participants using ETH is divided into 2 parts. 50% for buying back tokens via Uniswap and distributing to all participants in the market for free (no matter you win or lose). The remaining 50% stays in the pool for paying gas fee. The whole idea is to ensure that the token is used and gains value from the most important aspect of why - it is to enable position taking. We have ensured that we are a token that will be actually USED for being and benefitting from the community!
7) Where can the TGH community learn more about PlotX?
We have a strong community building up over discord and telegram. I’ll share some links below where the TGH community can follow us
Discord Community: https://discord.gg/8CWNQnG
Telegram Community: https://t.me/plotx_official
More info on PlotX: https://plotx.gitbook.io/plotx-wiki/faqs
Apart from the above, Ish announced the project story via this twitter thread which covers some of our journey and partners as well