The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
DAFI Protocol and Polkamarkets have each earned notoriety for their own merits within the DeFi space. DAFI has continued to broaden its reach by partnering with projects to leverage their synthetic tokens (tokens) as rewards based on the project’s adoption metrics. DAFI’s main goal is to create engaged and sustainable communities across the industry.
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Polkamarkets is a popular prediction markets platform power by Polkadot Network. Prediction Markets are exchange-traded markets created to trade the outcome of events. The market prices can indicate what the crowd thinks the probability of the event is. Prediction markets are proving to be popular in DeFi. Speaking to the primal urge of ‘putting your money where your mouth is’, prediction platforms allow users to place bets on a wide range of scenarios, from whether doge will hit $1 or who will win the NBA playoff series. There’s something for everyone.
Dafi Protocol is partnering with Polkamarkets to incentivize participants with synthetic dTokens. DAFI Protocol is a reward model designed strategize rewards which in turn, contribute to the long-term growth and drive mainstream adoption of diverse blockchain networks. Dafi’s end enable projects to seamlessly integrate flavored dTokens to create new staking/reward mechanisms that limit excess supply and maintain scarcity. DAFI enables the creation of synthetics which is instrumental in distributing project rewards, bounties, and staking to the community users.
DAFI Protocol will drive Polkamarkets functionalities by equipping them with new reward mechanisms to incentivize users in a better way.
Ushering a new wave of network adoption by integrating dTokens
Through this partnership, Polkamarkets will integrate DAFI’s flavored tokens into its ecosystem to incentivize users. Polkamarkets will employ DAFI’s innovative staking distribution models for seamless distribution of rewards. DAFI envisions creating a decentralized economy that can benefit $POLK hodlers who are interested in the long term growth of the project. By limiting the supply of native tokens with the introduction of synthetic tokens, DAFI will work to decrease $POLK’s exposure to hyperinflation. Therefore, this will induce scarcity of tokens in circulation, thus reducing the impact of supply shocks. Giving a stronger level of faith and security for $POLK holders in their network.
Users will be able to mine $POLK for the prediction markets via staking programs. This is one of the significant ways Polkamarkets incentivizes users to drive the long term utility of the project for network adoption. However, the broken model of large quantities of tokens dispersed in the network creates short-term exit mechanisms, negatively impacting the long-term holders. $POLK wants to work to prevent this through this partnership.
With a wide range of use-cases of synthetic tokens, DAFI’s dToken will be seamlessly integrated into Polkamarket’s staking model to incentivize users for active participation in the Gaming and Prediction Markets. Polkamarkets aims to adopt a new rewarding model which will be a revolutionary step in the Prediction and Gaming Markets as this will impart immense value to long term users. With this partnership, DAFI aims to bring further prediction market adoption to brand new users by unlocking verticals of DeFi into the gaming industry.
Zain Rana believes that the broader spectrum of the gaming and prediction markets has huge underlying potential especially with the current rampant DeFi movement,
“The gaming and predictions market has witnessed incredible momentum and looks set for widespread traction. With the introduction of DAFI’s dTokens into the Polkamarkets’ ecosystem, we aim to redefine the reward distribution processes that can drive longevity and sustainability for future growth. We are excited to forge this journey with Polkamarkets by working towards integrating DAFI’s innovative staking model.”
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“Polkamarkets is excited to partner with DAFI to enable the possibility of synthetics into the Polkamarkets Ecosystem. As one of the most interesting projects in the DeFi ecosystem, DAFI is bringing new use cases for tokens and tokenization while solving a critical issue in the incentivization model for many crypto-projects. Synthetic tokens are a new frontier and we are excited to see where this technology will lead us in the future.” said Ricardo Marques, Polkamarkets CEO.
About Polkamarkets
Polkamarkets is a DeFi-Powered Prediction Market built for cross-chain information exchange and trading where users take positions on outcomes of real-world events–in a decentralized and interoperable platform based on Polkadot.
Telegram: http://t.me/polkamarkets
Twitter: https://twitter.com/polkamarkets
LinkedIn: https://www.linkedin.com/company/polkamarkets/
Website: https://polkamarkets.com
About DAFI Protocol
DAFI reinvents how every decentralized network is rewarded. By creating synthetics pegged to different decentralized networks, every blockchain and cryptocurrency can create a dToken flavor to reward their early users while still enhancing scarcity when demand is low.
DAFI can reward a network even when demand declines by issuing synthetics that will reward user’s later — instead of earlier. This approach will change the foundation of all staking, liquidity, and even social reward systems for the entire decentralized world.
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- The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.