Le Lézard
Classified in: Science and technology
Subjects: Product/Service, Contest

Hedgehog Launches No-Loss Prediction Markets on Solana Mainnet with $100K+ in Prizes

Decentralized prediction markets (DPM) platform Hedgehog Markets launched on Solana mainnet last week, introducing No-Loss Competitions: a new take on DPMs and the first blockchain-based product of their kind.

"No-Loss Competitions offer a familiar experience for seasoned prediction market participants, but most notably encourage new enthusiasts to participate by giving users the opportunity to win real money without risking their own," says Hedgehog Founder, George Yu.

"Crypto users have been extremely receptive to the play-to-earn model, though this is also a broader trend in the gaming and entertainment industries," added Srikar Varadaraj, Partner at e^{i} Ventures, the venture studio behind Hedgehog. "We believe users from all backgrounds will enjoy the gamified competition structure as a fun alternative to traditional prediction markets."

Hedgehog launched with six flagship No-Loss Competitions and over $100,000 in available prizes. This first set of competitions cover weeks 3-5 of the NFL season, matchdays 6-8 of the English Premier League season, and crypto market behavior. Users enter a competition by staking $100 USDC or $1,000 USDC, with corresponding prize pools starting at $5,000 and $30,000 USDC.

To summarize how it works: Hedgehog's No-Loss Competitions offer themed collections of events, each containing a set of related prediction markets. To participate, users stake USDC in exchange for competition Game Tokens, which are used in the prediction markets. Through accurate predictions, users accumulate Game Tokens and climb a competition's Leaderboard. At the end of a competition, all participants get back their original USDC stake, regardless of their performance. Those who finish at the top of the Leaderboard win a share of the competition prize pool.

Learn more about No-Loss Competitions and try out the new mainnet platform at https://hedgehog.markets.

About Hedgehog Markets

The mission of Hedgehog Markets is to provide direct, veritable, and open access to the wisdom of crowds. Hedgehog Markets was founded by George Yu, a former Google and Oscar Health engineer. Interested in exploring ways to better predict future events, and noticing a lack of user-friendly ways to do so, building a decentralized prediction markets platform became a natural extension of that interest. Hedgehog Markets was built alongside e^{i} Ventures (EIV), a venture studio focused on DeFi and decentralized applications. Learn more about Hedgehog at https://hedgehog.markets and on Medium. For press inquiries, please reach out to [email protected].

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News published on 28 september 2021 at 09:05 and distributed by: