OptionRoom

OptionRoom is a governed oracle and forecast protocol built on Polkadot. Aim is to create a scalable protocol with multiple use cases: from oracle as a service to limitless event derivates.

OptionRoom Features

OaaS: User governed Oracle as a service

OptionRoom has the ability to serve as an OaaS – Oracle as a Service where oracle requests are solved by governance.

User governed forecast market protocol

OptionRoom allows users to create and participate in event derivatives that are pegged to real-world outcomes by governance consensus.

Dual token model

Dual token model: ROOM serving as the utility token of OptionRoom and COURT serving as the governance token of the protocol.

Governance staking and authenticity score

Users stake their court for an increasingly higher authenticity score, meaning more voting power. Honest governance participants are rewarded with ROOM while dishonest participants tokens are slashed.

LP mining

The governance token COURT can only be obtained by providing liquidity/staking the utility token ROOM

Self-sustainable and community based

Protocol fees fuel a buyback mechanism. The founders of OptionRoom receive no percentage of the protocol fees.

Built on Polkadot

OptionRoom v2 is planned to be built on Polkadot.

User incentives

OptionRoom rewards protocol and governance participants. Pools creators get rewarded with a percentage of the pool winnings, creating an incentive to promote their pools.

Reward buffer pool

Excessive fees generated from the protocol are diverted to a reward buffer pool to be used as protocol rewards reducing inflation.

Multiple use-cases

OaaS, limitless prediction markets, decentralized polls, dispute resolution, decentralized surveys, curated lists – are some of the use-cases of OptionRoom’s architecture.

About OptionRoom

Optionroom is a user governed oracle and forecast protocol built on protocol. Well, that seems simple and complex at the same time. First of all, oracle is something that acts as a bridge between the outside world. They provide the external data to the smart contracts (Example: Knock, Knock, Chainlink). User governed means the user has the ability to create oracle. Well with the introduction, lets dig a little deeper. Shall we?

Optionroom provides Oracle as a service to anyone who wants to request the oracle. The user who wants oracle services needs to allocate ROOM (tokens) as rewards. People who participate in the governance using governance tokens (COURT — That’s right, option room has 2 tokens. One as utility and other for the governance purpose). In addition to that users can create forecast prediction market too. It also involves the following steps:

a) Market validity voting — Voting to confirm the validity of the market. Voting participants get ROOM tokens.

b) Market participation — Users participate in the pool

c) Market Locking — Locking of active pool

d) Market Settlement — Settlement vote to decide on the outcome of the market.

Tokens:

ROOM — Utility tokens. It is the token which will be rewarded for participation in the protocol.

COURT — Governance tokens (Yes, this is the key for all. For participating in any protocol, you first need to stake COURT tokens)

Source:
https://www.optionroom.finance/