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Daily Markets

1. Overview​

Daily markets in Panana Predictions allow users to predict on a variety of topics, including sports, politics, and weather. A new market is created every day, providing continuous opportunities for engagement and rewards.

2. Market Creation​

  • A new market is created daily, ensuring fresh prediction opportunities.
  • Markets cover a diverse range of topics, from sports and politics to weather and global events.
  • Users can only predict on the next available 24-hour market.

3. How Predictions Work​

  • Users enter a market by selecting an outcome within the 24-hour prediction window.
  • All predictions share a common pool, and winners earn rewards proportional to their input.
  • Users can participate in multiple markets but can only predict on the next day's market.

4. Market Lifecycle​

  • Market Opens: A new market is automatically created daily.
  • Prediction Phase: Users can submit predictions for the next 24 hours.
  • Market Closes: Once the 24-hour period ends, no further predictions can be made.
  • Resolution Phase: The market outcome is determined within 24 hours by a committee of judges.
  • Claiming Rewards: Rewards can be claimed immediately after the resolution.

5. Market Resolution​

  • Markets are resolved fully decentralized within 24 hours after closing.
  • A committee of judges determines the final outcome.
  • The committee is currently defined by Panana, but will be governed by the community in the future.
  • If resolution is not possible (e.g., a sports event was canceled), all users receive their initial stake back.
  • Each event has clear resolution rules and verifiable sources.

6. Risks & Considerations​

  • Market Uncertainty: Unexpected events (e.g., match cancellations) can lead to refunds instead of payouts.
  • Decentralized Resolution Risks: The governance of the resolution process will transition over time.
  • Smart Contract Risks: As a blockchain-based platform, users should be aware of potential vulnerabilities.
  • Regulatory Compliance: Users must ensure participation aligns with their local regulations.

7. Fees​

  • No fees for market creation or participation.
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Fees are not yet defined and may change at any time during the market's beta phase.

8. Example Use Case​

Example: Predicting a Soccer Match Outcome

  • Alice, Bob, Charlie, and Dave enter the daily market, each betting $50.
  • Alice and Charlie predict that Team A will win, while Bob and Dave predict that Team A will lose.
  • After 24 hours, the prediction phase closes.
  • Within 24 hours, the judge committee verifies the match result.
  • Outcome: Team A wins.
  • The total pool is $200 (Alice: 50,Charlie:50, Charlie: 50, Bob: 50,Dave:50, Dave: 50).
  • Since Bob and Dave were on the losing side, their $100 is redistributed to the winning pool (minus 3% performance fee, fees are subject to change).
  • The fee deducted is $3, leaving $97 for Alice and Charlie.
  • Since Alice and Charlie contributed equally, they each receive $48.50 in winnings, plus their initial $50 stake, totaling $98.50 each.
  • If the match is canceled, all participants receive their initial $50 stake back.

Daily markets in Panana Predictions provide an exciting and diverse way to engage with real-world events in a decentralized prediction ecosystem!