Blockchain Technology Cryptocurrency DeFi Finance Technology
Rafi_0x
Rafi_0x

@Rafi_0x

11 tweets 2 reads Apr 08, 2023
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1/ So guys, here’s is the 1st thread on $ROOM (@option_room) the project that practically broke Ethereum when it did its IDO on Feb 5th. $ROOM’s TG group has 29k members and their token has over 8k holding wallets. This is crazy for a 6 day old project, even for DeFi!
2/@OptionRoom is a decentralized oracle / prediction market built on @Polkadot and based on governance, so it won’t rely on external data feeds, but on users as data source, incentivized by token rewards for honest behavior & token slashing in case of dishonest behavior.
3/ The project has a dual token system, with $ROOM used to pay platform fees and rewards, and $COURT as the governance token, that will need to be staked for voting power. Users will be able to stake ROOM (or ROOM/USDT & COURT/USDT LP tokens) to earn $COURT once staking starts.
4/ @OptionRoom will offer two main products: Oracle as a Service (OaaS) and Prediction Markets. In OaaS any user can create an oracle request by paying a request fee + a solution incentive (to be rewarded to request solvers), both paid in $ROOM.
5/ $COURT token holders can then vote on solving the request and the ones that chose the correct outcome are rewarded with $ROOM tokens, while the ones that have the wrong outcome have a % of their $COURT holdings slashed and their “authenticity score” reset to zero.
6/ On prediction markets, anyone will be able to bet on the outcome of a market (“will team X win the game?”) and $COURT holders will validate a yes/no outcome. The yes/no positions of each user will be represented by synthetic yes/no tokens that will be freely tradeable.
7/ Max supply of $ROOM is 100M with 33% sold to seed/private/public investors, 38% reserved for protocol rewards, 24.67% for the team (10%) and foundation (14.67%) allocations, with 1yr cliff + 1yr vesting thereafter, and 4.33% is on #Uniswap liquidity locked for 1yr.
8/ IDO price for $ROOM was $0.05 (although only 2% of supply was sold there) and it went straight to $3-4 with $87M volume on #Uniswap on the first day. Now, price seems to have calmed down around $2.20 with a $26M mktcap, so hopefully it’s upwards only from here
9/ To get an idea of upside potential compared to $ROOM’s $26M mkt cap, other oracle / prediction market projects include $DIA ($73M mkt cap), $NEST ($102M), $REP ($160M), $BAND ($386M) and of course, $LINK at $11.4bn.
10/ Current roadmap includes MVP and staking V1 launch in Q1, Protocol launch (on Ethereum), governance portal launch and staking V2 in Q2, and @Polkadot integration + Protocol V2 launch in Q3 (once synthetic assets go live on Polkadot).
11/ Some useful links:
⁃ Website: optionroom.finance
⁃ Summary pres: docsend.com
⁃ WP: github.com
⁃ Medium: optionroom.medium.com
docsend.com

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optionroom.medium.com

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www.optionroom.finance

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github.com

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