POLK is the utility token of the Polkamarkets Protocol and is used to secure, resolve and curate prediction markets.
Future versions of the Polkamarkets Protocol will continue to rely on POLK to ensure market quality. POLK also plays a key role in the development of the Polkamarkets ecosystem.
Features that require POLK
Benefits for holders
Create Prediction Markets
Market creators must hold 1000 POLK to create new markets on Polkamarkets. Creators don’t need to spend POLK to create markets, they simply need to hold POLK. This requirements ensures that prediction market creators to have “skin in the game” and reduces the likelihood of human- or bot-originated spam.
Market creators can receive a Creator Fee from every trade in the markets they create. Market creation is also rewarded in the Protocol Incentives and Weekly Rewards Program.
Resolve Prediction Markets
POLK is used in the decentralized bonding system used by Polkamarkets to resolve markets. Oracles must bond POLK to the outcome they believe is correct. This crowd-sourced resolution process ensures that no single entity controls the markets.
Oracles can win POLK from challenging incorrect bonds placed by other users. Conversely, you may lose the POLK you bond on an incorrect outcome. Market resolution is also rewarded in the Protocol Incentives and Weekly Rewards Program.
Curate Prediction Markets
POLK is required for users to upvote or downvote markets, providing a signal on the quality of prediction markets to other users and dapps. Curators are only required to hold POLK to vote on markets, they don’t need to spend their POLK. This requirement reduces the likelihood of vote-bombing.
Market curation is rewarded in the Protocol Incentives and Weekly Rewards Program.
IMPORTANT DISCLAIMER Before interacting with the Polkamarkets Protocol, you must read the Risk Disclosure. Some services described in this documentation website are provided by Polkamarkets Labs. Those services and the POLK Token (POLK) are not available in Excluded Jurisdictions and are subject to Terms & Conditions. $POLK is a utility token that grants access to some of the Services, as described in this documentation. $POLK is not intended to constitute securities of any form, units in a business trust, units in a collective investment scheme, capital markets product, or any other form of regulated product or investment in any jurisdiction. The Terms & Conditions or any other document available with information about $POLK on the Website do not constitute a prospectus or an offer document of any sort and is not intended to constitute an offer of securities (“$POLK”). $POLK shall only be acquired and used with the purpose of using the Services, including Polkamarkets Labs products as well as Polkamarkets Protocol smart contracts - therefore to access its services, such as accessing the platform, LPs or managing disputes in the Polkamarkets Protocol or Polkamarkets Web App. No $POLK should be construed, interpreted, classified, or treated as enabling, or according to any opportunity to You to participate in or receive profits, income, or other payments or returns arising from or in connection with the vendor, the project, the tokens, or the proceeds of the token sale, or to receive sums paid out of such profits, income, or other payments or returns.