Post
Topic
Board Altcoin Discussion
Re: My prediction market project
by
bbc.reporter
on 26/11/2016, 02:00:45 UTC
Hi,

I'm a long time lurker. I have an idea and I would like to let everyone know for discussion.
I plan to create an ERC20 token and distribute it for free.
Then I will create a prediction market using this token.
The prediction market will be using augur's published markets, then we trade shares using the token i created.
The market will also use augur's oracles for resolution.

This way, we can have a prediction market without fees unlike augur's 2% fee each trade.

Let me know your ideas. I'm currently coding the token now. I will get the idea from the crowdsale of golem network.

Basically the ERC20 token that i will create will have a crowdsale but at the end of the crowdsale period the participants will get their tokens and also their eth. So basically, it's free. Just lock up your eth for the duration of the crowdsale.

We have seen these kind of schemes again and again with none of them becoming successful. We also have seen a lot of scamming in this site by coming up with these type of crowdsales promising to be a better platform and all of them fail. Even the mighty Ethereum is failing. How will ERC20 be any different?