IMOO dramatically diversifies the information available to on-chain DApps, whether prediction markets, or DeFi products. By crowdsourcing responses with IMOO, DApps can move faster with more expedient and reliable on-chain convergence.
Enhance the capability of on-chain prediction markets by accessing incremental data to ensure correct payouts, and prevent arbitrage.
Faster and more reliable on-chain convergence through the collated responses of thousands of human users.
Accommodate the next wave of DeFi applications with fresh sources of decentralized data.
Dramatically increase the transparency of data: each response produces an accompanying transaction, and is represented on-chain.
An information (or prediction) market allows any individual or organization to trade on the outcome of an event. These markets depend on the availability of robust information. If a market is made to reward those who correctly predict the winner of an election, the platform which runs the market needs all the information available: opinion polls, newspaper headlines, party statements, etc. Otherwise, the market could reward the wrong outcome. This is what IMOO provides: democratically sourced information.
Decentralized, the capabilities of prediction markets expand, and more diverse and numerous input can be included in market settlement.
By bringing global Q&A systems on-chain, IMOO offers a new building block for decentralized prediction markets.