Trump and Harris Ethereum Tokens Will Power Wintermute Election Prediction Market
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Algorithmic trading firm Wintermute has announced the launch of OutcomeMarket, a decentralized prediction market platform that will initially focus on the 2024 U.S. presidential election with tokens tied to candidates Donald Trump and Kamala Harris. Launching next week, the platform allows users to participate directly in prediction markets across Ethereum (ETH) and its layer-2 scaling networks Base and Arbitrum, and eliminates the need to bridge assets between chains. OutcomeMarket’s platform will be driven by permissionless smart contracts—which hold the code that powers decentralized apps (dapps)—meaning any trading venue can list its tokens without imposing minting or transaction fees. Own your outcome with OutcomeMarket Wintermute is developing a permissionless smart contract for a new US presidential election prediction market The market will be accessible across Ethereum, Base, and Arbitrum, supported by @chaos_labs’s Edge Proofs Oracle Debuting 2 tokens:… pic.twitter.com/N5IqvOqDaL — Wintermute (@wintermute_t) September 17, 2024 According to Wintermute CEO Evgeny Gaevoy, the platform aims to create a more accessible and efficient market by reducing barriers to entry. The initial token offering will feature TRUMP and HARRIS, allowing users to vote on the candidates’ performance in the election while also using the tokens in decentralized finance (DeFi) applications across multiple exchanges. “There has been significant interest from both centralized and decentralized trading venues to list such prediction market contracts, but no one had developed them in a permissionless manner and without imposing minting or transaction fees,” he wrote. The platform will utilize Chaos Labs’ Edge Proofs Oracle to ensure data integrity and reliability across the chains. Several trading venues, including Bebop, WOO X, and Backpack, have already committed to listing the OutcomeMarket tokens. Political meme coins and prediction markets have gained traction in recent years, blending cryptocurrency speculation with political forecasting. In 2020, the FTX derivatives exchange launched similar prediction markets for…
Filed under: News - @ September 18, 2024 12:18 am