POLK holders are able to create markets and are essential users of the Polkamarkets Protocol.
The minimum balance you'll need to hold in your wallet is 1000 POLK. This amount will not be deducted from your balance when creating a market.
Step 1: Get POLK on Moonriver
Check our guide on how to buy POLK on Moonriver, or how to bridge it from the Ethereum network.
Step 2: Navigate to the “Create Market” page.
Head to the “Create Market” page. You can navigate there by clicking “Create Market” on the top right corner (see image below), or by browsing the following URL: https://app.polkamarkets.com/market/create
You’ll be prompted with the following message if you do not have enough POLK in your balance. To solve it, head back to step 1 to get POLK in your wallet.
Step 3: Fill in Market details
Fill out the form with market details — Market & Outcome names, Image, Categories, Resolution Source (URL), and Closing Date. All the fields are required.
Note: The number of outcomes is limited to 2 and probabilities are set to start at 50%-50%. We’re working on the possibility of setting initial probabilities, as well as having more than two outcomes in the future.
Step 4: Setup market liquidity
As the market creator, you’ll need to add liquidity to the market so trading of outcomes is possible for other users. Use the input to set up the liquidity you want to fund the market with.
Step 5: Review market data and confirm the transaction.
Click on “Create Market”. Ensure all the input fields are filled, otherwise, you’ll get an error message. Proceed to confirm the transaction on Metamask. You’ll be prompted with a transaction value equal to the amount of liquidity setup for that market.
Step 6: Market is created and ready for trading 🎉
When creating a market, one must try de-risking either the market description or market resolution source as much as possible.
Here are some examples of resolution sources:
Watch the video for a better understanding of how to create a market: