Overview Of Optionroom’s Industry-leading Protocol Rewards
OptionRoom, the industry-leading, fully decentralised forecast protocol and Oracle as a Service, have always believed in rewarding the users who participate in their project’s ecosystem; not only does this encourage and incentivise interaction with their protocol, but it makes a tangible and positive contribution towards the agenda of fostering adoption for prediction markets and decentralised finance as a whole - something they feel very passionately about!
Because of this, OptionRoom was founded with the vision of offering a rewards structure which is unrivalled throughout the DeFi forecast protocol space. This article provides an overview of those rewards, and gives you all the info you need to start benefiting from their ethos of incentivisation.
Fixed Protocol RewardsOptionRoom’s fixed protocol rewards are distributed on the basis of users’ levels of activity across the protocol; these are daily distributions, for which we’ve set aside substantial amounts of $ROOM tokens. The breakdown of these distributions follows below, along with info around how you can start earning:
- Trading Rewards: $3333 in ROOM tokens per day have been set aside for this, and will be distributed among the users who have traded on the OptionRoom platform the most that day, based on their share of the volume.
- Market Validation: $1666 in ROOM tokens per day have been set aside, and will be distributed among users who vote on market validity, based on their voting power.
- Market Resolution: $3333 in ROOM tokens per day have been set aside, and will be distributed among the users who vote on market outcomes, based on their voting power.
To benefit from these significant rewards, head over to the OptionRoom dApp - https://bit.ly/383YGFL - and start Trading, Validating, and Resolving their innovative forecast markets!
N.B: There's a floor price for these reward calculations which is set at $0.25; if the price of $ROOM falls below this, rewards will decrease slightly
Volume-Based RewardsOptionRoom’s volume-based rewards are distributed to users who create markets on the OptionRoom platform, and to users who provide liquidity for those markets. A breakdown of the significant rewards available to market creators and LPs is provided below:
- Market Creation: 0.1% of the whole market volume is given to the user who creates that market.
- Liquidity Provision: 1.5% of the whole market volume is given to liquidity providers based on their share of the liquidity for the market.
To create markets on the OptionRoom platform, and to start reaping the lucrative benefits of being a market creator, head over to the Markets section of the OptionRoom platform - https://bit.ly/3mq4ou2 - click on the “Create New” tab, and then follow the instructions on the next page!
To provide liquidity to the markets on the OptionRoom platform, click on any given market on the Markets page - https://bit.ly/3mq4ou2 - then look to the “Liquidity” tab on the right hand side of the page and approve the ability to provide liquidity by clicking the link, which will trigger MetaMask to open:
After this, simply click “Add Liquidity” in the Liquidity tab and enter how much you would like to provide to the market. You’ll then begin earning the Liquidity Provision rewards!
N.B: There is a Protocol Fee of 0.4% which is applied to the volume of markets, and which is sent to the reward pool to facilitate the distribution of the rewards.
OptionRoom’s industry-leading protocol rewards will no doubt go a long way towards encouraging new and prospective users to enter and participate in the DeFi forecast protocol space - we can’t wait to find out what other community initiatives and incentives they have in store!
Follow OptionRoom on Twitter to stay up to date on all their latest news and announcements: https://twitter.com/option_room
Or get in touch with their team directly on Twitter: https://t.me/optionroomchatofficial
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Read more: https://www.cryptodaily.co.uk/2021/09/option-room-industry-leading-protocol-rewards
Text source: Crypto Daily™
