POLK is used as a curation mechanism and a settlement & dispute system in the Polkamarkets Protocol.
In the current version of the Polkamarkets Protocol, POLK holders can:
Create Prediction Markets: POLK is required for users to create new markets on Polkamarkets. If you want to know the future and receive the wisdom of the crowd, you must hold POLK.
Resolve Prediction Markets: POLK is used in the decentralized bonding system used by Polkamarkets to resolve markets. This system leverages the wisdom of the crowd through distributed consensus to determine truthful event resolution. You must hold POLK to participate in market resolution.
Future versions of the Polkamarkets Protocol will continue to rely on POLK to ensure market quality. POLK will also play a key role in the development of the Polkamarkets ecosystem.