A Deeper Look at DeFi Predictions: Polymarket

FORE Predict is an entirely people-powered predictions ecosystem: embodying our belief in how prediction markets should operate. Users are responsible for creating markets, participating in markets against each other, and validating these market outcomes themselves. This activity is incentivized through the redistribution of 50% of platform fees.

While other ‘DeFi’ prediction platforms exist, they are rarely very decentralized at all. Polymarket in particular is a predictions market that, although built on blockchain, operates in a similar way to traditional prediction markets like bookmakers and casinos. Polymarket is still ‘the house’: they determine which markets you can participate in, they take a share of the market, and they charge withdrawal and deposit fees on your own funds. 

FORE meanwhile is not a predictions market itself, but simply a set of smart contracts to facilitate community creation, participation, and validation of prediction markets. Thus, there is no house on FORE. FORE is entirely powered by people, as we believe prediction markets should be! You create the markets, you participate in markets against each other, and you validate the markets yourselves. And you're rewarded for this productive activity through the redistribution of platform fees, in the form of a hyper-deflationary utility token.

The community is the driving force behind FORE, and the protocol is designed to grow and develop along with its users. By providing the architecture to allow users to create prediction markets for almost any event, while rewarding members for productive activity through redistributed fees, FORE creates a self-regulating and self-sustaining ecosystem that brings transparency and democracy to predictions in ways not seen before: returning value to the users themselves.

Users are rewarded for their productive activities (creators earn 0.5% of the total market size and validators are rewarded a share of 2% of the total market size), fostering a self-regulating, self-sustaining ecosystem that brings transparency and democracy to predictions.

To better explain the potential benefits of market creators and validators on FORE Predict, we can take Polymarket's largest market, "Who will win the U.S. 2024 Republican presidential nomination?" as an example. With a current volume of $4.7 million, implementing the same market on FORE Predict could reveal the earnings potential and help underline the unique opportunities that FORE Predict presents.

Assuming a hypothetical market with a total size of 4,700,000 FORE, the potential earnings for the market creator and analysts would be:

Market creator (0.5%) = 23,500 FORE
Analyst pool (2%) = 94,000 FORE

Please note that the actual earnings for any specific analyst will depend on their specific share of the 2% total. This might be divided among multiple analysts, depending on the specific parameters of the market.

Take a look at our broader competitor analysis below. Who would you like to see our next comparison with?