Vitalik’s prediction market NFT: What are the use cases and benefits? How to evaluate the value of the protocol?

Original | Odaily Planeta Diario ( @OdailyChina )

Autor｜Nan Zhi ( @Asesino_Malvo )

At about 19:00 last night, VItaliks address transferred 32 ETH to Base and minted 400 NFTs named Oracle Patron . After the community paid attention to it, the minting speed soared. According to OpenSea data , after the minting was completed, the transaction price quickly rose from the cost of 0.08 ETH to the highest of 0.25 ETH. As of the time of writing, the floor price was still 0.232 ETH, an increase of nearly 200%, and the total market value was about 10.8 million US dollars .

(Note: VItalik’s address is 0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045 )

What project does Oracle Patron NFT come from? What are the use cases or benefits? Odaily Planet Daily will analyze it in this article.

Predicción Mercado Truemarkets

The issuer of Oracle Patron NFT is Truemarkets, a binary prediction market with a trading mechanism that is basically the same as Polymarket. For each event, the question is simplified into two answers, yes or no, and a corresponding binary trading market is created. The two answers are priced in real time based on the market-perceived odds of the results, and the market is balanced by traders and market makers who provide liquidity for YES and NO tokens. When the result is settled, the token corresponding to the correct answer can be redeemed at $1, while the opposite token is worth zero.

(Reference reading: A Super Detailed Explanation of the Technical Implementation Behind Polymarket , As the US Election Approaches, Is Polymarkets Data More Reliable? )

Whats the difference?

Unlike Polymarket’s process of creating markets through proposal review, Truemarkets’ market creation is currently limited to whitelisted addresses . In the official document, Truemarkets stated that market creation will also be delegated to AI Agents, and will achieve permissionless market creation in 2025 , but the specific process and method have not yet been disclosed.

NFT and Simbólico Casos de uso

Según documentos oficiales, the only use of Oracle Patron NFT is as a proof of stake for the TRUE token airdrop . Each NFT is allocated 2,666.67 TRUE tokens , totaling 40.19 million, accounting for 40.19% of the total tokens. Therefore, based on the current NFT market value, the total market value of the token is 25 million US dollars.

So what is the use of the token? According to the current official documents , TRUE is only used as a governance token . Token holders have the power to control protocol fees and manage the oracle committee, while the oracle committee is responsible for managing market creation, incentive distribution, dispute resolution and other matters. There is no content about the token having substantive incentives.

After the election, how are the prediction markets doing?

The US election is undoubtedly the key to supporting its Polymarket and other prediction markets. After Trumps victory, DefiLlama data showed that the prediction market TVL fell from the highest point of $545 million to the current $134 million , and has been sideways at this level for a week. In the TVL ranking, Polymarket is the leader, with about $100 million, while Azuro, the second place, is $7.8 million, with a clear gap.

In terms of products, Polymarket has not been updated for many days. The current focus is still on updating various markets. The top-ranked market is currently How many basis points will the Federal Reserve cut interest rates in December?

Similarly, Azuro has not had any major updates in terms of products and mechanisms in recent months, and its focus is also on expanding the market . At the end of October, Azuro launched special markets, allowing the creation of events outside the scope of regular sports or politics, with examples such as Will CZ return to Binance after being released from prison? and Will BTC hit a new high before December 2024?

It can be seen that the prediction market mechanism has entered a relatively mature and stable stage. How to discover and create betting themes that are popular with the people will be the development focus for a long time in the future.

This article is sourced from the internet: Vitalik’s prediction market NFT: What are the use cases and benefits? How to evaluate the value of the protocol?

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