PolyBet (PBT)

PolyBet (PBT) is a prediction market platform that allows users to place bets on the outcome of various events. Users can predict the future and bet on their predictions, engaging in an information market on the Polygon network. To participate, users connect to PolyBet using MetaMask or other Web 3 wallets and use USDC to place their bets. Once a market is resolved, winners can redeem their outcome shares for $1 per share, while losers receive $0.

PolyBet ensures decentralized market resolution by leveraging Gnosis’ conditional token framework and UMA crowd-sourced verification. Users do not rely solely on PolyBet for the correct market outcome. Instead, UMA is used to guarantee accurate market resolution. When the decentralized market resolution process is complete, users who placed correct bets can redeem their winnings.

The PolyBet Token (PBT) is a community-owned project that serves as the platform’s native token. The PBT contract can be found at 0xa406844323F1603701E6ad95ADc8A082213a68ce on the Ethereum Mainnet. A total of 1 billion PBT can ever be minted, with the majority distributed to the PolyBet community. PBT rewards are given to liquidity providers (20%), Uniswap liquidity providers (10%), PBT stakers (5%), PolyBet bet winners (5%), claims (10%), the PolyBet team and foundation (20%), and future community incentives (30%). The PolyBetDAO has authority over the allocation of the remaining PBT supply.