SOSMarket.io is a prediction market. It is a decentralised application (dApp) currently deployed on the Ethereum blockchain powered by the Polkamarkets Protocol.
It was made to create an additional source of information about the NFT market. It requires at least 100 million $SOS in your wallet to start a market. It provides more utility for $SOS and is a new way to engage with the community.
A snapshot vote in the OpenDAO SOSIP-7, states that all profits from SOSMarket will be allocated to the $veSOS staking pool, providing income to those who stake their $SOS.
SOSMarket can be found here: https://www.sosmarket.io/
SOSMarket can be used in the following four primary ways:
$SOS holders with a minimum of 100 million $SOS tokens will be able to create a prediction market on the platform and earn 2.5% of every trade after providing liquidity to the market with their ETH.
Users of SOSMarket are able to participate in betting on outcomes put out by market creators and put their knowledge to the ultimate test with their ETH.
For example: A market maker might decide to ask if Elon Musk would go to Mars before 2030 and put an outcome of yes or no. A user decided that he wanted to bet yes, and if Elon Musk does go to Mars before 2030 he would win his money back and more, and if Elon Musk didn’t, he would lose all his money. Of course if he ever felt unsure, he could sell anytime he wants to during the 8 year period.
