Pulse Markets is a Flux Protocol-based open-source prediction platform entirely managed by a decentralized autonomous organization (DAO).
One of the main aspects that drive value to a product is a firm foundation, which enables a project to weather extreme competition in the market. And same goes for Web3 products and services. Without a robust blockchain platform supporting them, even their impressive decentralized offerings cannot possibly bring them to success.
Pulse Market, a decentralized prediction market platform, knows that a reliable blockchain platform is necessary to bring the solutions that the Web3 industry needs. With this goal in mind, it has picked NEAR Protocol as its blockchain platform to tap its incredible features, which include fast transactions, advanced scaling solutions, and low transaction fees.
What is Pulse Markets?
Pulse Markets is a Flux Protocol-based open-source prediction platform entirely managed by a DAO.
As a refresher, Flux Protocol is a trustless data layer and blockchain-agnostic platform powered by NEAR.
The digital infrastructure of Pulse is a fork of the Flux Open-Source app, which was developed by both Flux community members and the core team.
It was designed by both sides to have an open-source structure from the ground up, which means that the entire platform cannot be shut down merely by a single entity or a small control group.
Pulse enables users to create markets and provide liquidity for them, and earn from staking assets on the outcome of any markets.
It uses the NEAR wallet, and instead of having an excessively long and confusing wallet address, Flux allows an address to be marked simply with “pulse.near” at the end. Also, since it’s based on Flux, Pulse allows users to connect on more than one oracle to aggregate and get better results.
And through its Flux Oracle, it can easily offer markets that resolve in 30 minutes with API and just 1 day for Arbitrary data.
The seamless combination of Pulse, Flux, and NEAR’s features provides users with 100% control over their funds, shares, and contracts anytime and anywhere.
Ethereum natives can also use Pulse by simply connecting their Ethereum wallet and creating a NEAR wallet.
$PULSE is the governance token of the Pulse ecosystem with a 100 million supply and equips holders with the power to vote on critical areas of the platform development.
Token holders are authorized to create proposals that would expand the community’s choices on what proposals to vote for; also, holders can delegate their voting rights to their preferred recipients.
Users can create a market on the platform by staking their PULSE tokens, and with each staked amount, 50% is burned, 1% goes to platform fees, and the remaining are funneled to the liquidity pool.
The platform rewards market creators with 0.15% on every trade they make, which would be beneficial for high-quality markets.
This system is meant to encourage participants to only create genuinely beneficial markets and discourage them from making low-quality ones that would have a negative impact on them.
The token can also be utilized by holders as collateral when they want to place bets and liquidity on
their chosen markets.
50% of PULSE’s total supply will go the liquidity mining, 30% on DAO treasury, 10% will be in the form of Drops for Flux holders and Beta testers, and the remaining 10% is for the team.
Pulse has partnered with NEARPad to strengthen the capabilities of the PULSE token and unlock its potential to boost the ecosystem.
NEARPad is a platform that leverages the power of blockchain technology to help projects create value-rich protocols to help both individuals and groups create better outputs.
Cheddar is a NEAR-powered loyalty network and yield farm platform that helps create a strong and loyal customer base for the NEAR ecosystem by providing rewards to loyal users.
To participate in its yielding activities, participants simply need to stake a token available in their wallets, a simple process that can be seen in the majority of yield farms in the blockchain space.
The ‘Cheddar’ earned by stakers depends on two factors: The percentage of their stake in the pool and the rewards provided by a specific pool each day.
With Pulse’s partnership with Cheddar, it has now added the Cheddar token to its platform, which would allow users to use it as collateral for markets that will soon be introduced on Pulse.
Another good news is that Pulse token holders can stake their tokens on the Cheddar platform, giving users an additional income stream.
Pulse has selected Azuro, a global decentralized betting protocol, as the perfect platform where it can establish its front-end without the need for any liquidity.
This became possible because Azuro already provides three major things: First, a base layer of liquidity for decentralized betting; second, automatic creation of markets/events; and third, data-based odds and results.
With these provisions, Pulse can focus its resources on marketing, community building, and user acquisition that can fast-track its goals.
Azuro has a deep experience and understanding of prediction markets, and its expertise will certainly help boost Pulse’s current capabilities.
Pulse Markets has four strong features: Straightforward services, solid partnerships, 100% management by DAO, and its NEAR-powered blockchain.
These things clearly show that the Pulse team has smartly invested their focus, resources, and expertise in critical areas that can bring the biggest outputs for the platform.