A groundbreaking collaboration between Zeitgeist and Polkassembly is set to transform prediction markets on the Polkadot network. This partnership aims to empower the Polkadot community by enabling them to predict and profit from governance decisions directly within the Polkassembly user interface.
Unlike the traditional focus on spot bitcoin ETFs, Zeitgeist and Polkassembly are shifting the spotlight to proposals and motions put forward by Polkadot’s user base. In Polkadot, anyone can propose referenda on-chain, allowing the community to vote on the allocation of treasury funds for specific objectives.
With the integration of Zeitgeist’s platform into Polkassembly, users can now actively participate in the decision-making process by predicting the outcomes of key referenda. This feature encourages users to express their opinions through predictions and enables them to bet on the success or failure of specific proposals.
By facilitating this participatory approach, Zeitgeist and Polkassembly aim to enhance community engagement and promote a more democratic governance model on the Polkadot network. Users can access Zeitgeist’s prediction markets within the Polkassembly UI, alongside other sections such as Bounties, Parachains, Events, Proposals, and Discussions.
As an example, a live prediction market has already been launched for Referendum 385, submitted by Lunar Strategy, Flight3, and RZLT. This proposal seeks treasury funds to promote the launch of Polkadot’s first memecoin, $DED. Through the prediction market, users can forecast whether the proposal will succeed in its mission.
Zeitgeist CEO Logan Saether emphasized the seamless experience provided by the integration and expressed the goal of denominating most markets in DOT to facilitate participation for the Polkadot community.
Zeitgeist has encouraged Polkadot governance participants to familiarize themselves with its platform through tutorials and access the live prediction market on Polkassembly. The collaboration between Zeitgeist and Polkassembly is expected to pave the way for a more democratic and accessible governance system on the Polkadot network.
The prediction market for the “DED Launch Campaign Accountability” will run until July 10, with the market resolving and payouts triggered on July 16 for those with correct predictions. This collaboration marks a significant milestone in decentralized governance and will be evaluated based on the success of prediction markets like the one for $DED.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investing in cryptocurrencies involves risk, and individuals should conduct their own research before making any investment decisions.
The source of the article is from the blog regiozottegem.be