In the ever-evolving world of decentralized finance and prediction markets, it's essential that innovation not only continues but also rewards those who play pivotal roles in growing the ecosystem. One such essential role is played by the market creators. Understanding their significance, the Zeitgeist.pm app is excited to unveil its latest feature – Market Creator Fees.
Why is this feature groundbreaking?
Before diving into the specifics, it's essential to understand the significance of market creators in the prediction market space. These are individuals or entities who curate new prediction markets, driving traffic, engagement, and bringing a diverse range of topics to the platform. Until now, their efforts, while recognized, didn’t have a direct reward mechanism in place.
Enter Market Creator Fees.
With this new feature, market creators have an added incentive to generate quality prediction markets. They can set a specific percentage fee for every trade made on their created market. This means that each time a user trades on that market, the creator earns a fee. Think of it as a commission for every transaction that takes place on a market you’ve brought to life. This not only incentivizes market creation but also ensures creators are motivated to promote and maintain the integrity of their markets.
Advised Prediction Markets vs. Permissionless Submission
There are two ways you can deploy markets on Zeitgeist.
- Advised Prediction Markets: These markets go through an approval process. This vetting ensures that the markets align with platform standards, offering users a more curated experience. For these advised markets, creators need to stake a smaller ZTG bond.
- Permissionless Submission: True to the spirit of decentralization, creators who prefer to bypass the approval process can opt for permissionless market creation. However, a larger ZTG bond is required to ensure the quality of these markets.
What does this mean for the Zeitgeist community?
This feature doesn’t just benefit market creators. It brings in a wave of innovation, diversity, and excitement to the Zeitgeist.pm app. With creators now having a direct monetary incentive, users can expect to see a more extensive range of markets, spanning various topics, sectors, and trends. Plus, with the dual pathway for market submission, there's a perfect balance between curated and decentralized markets.
Introducing Market Creator Fees is a testament to Zeitgeist.pm's commitment to fostering a thriving, inclusive, and rewarding ecosystem. Whether you're a seasoned market creator or someone with a fantastic idea for a new prediction market, now's the time to dive in, create, and get rewarded for your contributions.
Come be a part of this new chapter in prediction markets, only on Zeitgeist.pm.