TL;DR
Wintermute will launch OutcomeMarket, a prediction market based on Ethereum, Base, and Arbitrum, focusing on TRUMP and HARRIS tokens for the upcoming U.S. elections.
OutcomeMarket will utilize Chaos Labs’ Edge Proofs Oracle technology to provide tamper-proof data and enable direct participation.
The TRUMP and HARRIS tokens will be available on DeFi platforms and both centralized and decentralized exchanges, enhancing their utility and accessibility.
Wintermute, the well-known algorithmic trading and liquidity provider firm, has announced the launch of an innovative prediction market called OutcomeMarket. This new project will debut next week on the Ethereum, Base, and Arbitrum networks, focusing on the TRUMP and HARRIS tokens, which are linked to the upcoming U.S. presidential elections.
OutcomeMarket stands out for its multi-chain approach, which allows direct participation from users’ native blockchain ecosystems without the need for complex asset bridging. This design aims to overcome the limitations of traditional prediction markets, which are usually restricted to a single chain. The platform will use Chaos Labs’ Edge Proofs Oracle technology, which provides tamper-proof data feeds, ensuring the accuracy and reliability of information.
Own your outcome with OutcomeMarket
Wintermute is developing a permissionless smart contract for a new US presidential election prediction market
The market will be accessible across Ethereum, Base, and Arbitrum, supported by @chaos_labs’s Edge Proofs Oracle
Debuting 2 tokens:… pic.twitter.com/N5IqvOqDaL
— Wintermute (@wintermute_t) September 17, 2024
The use of Edge Proofs Oracle will enable OutcomeMarket to mitigate the risks associated with prediction markets by offering accurate, tamper-proof data across multiple chains. This feature is crucial for maintaining market integrity and user trust. The technology also facilitates the integration of real-time risk assessment directly into the protocol, improving the system’s resilience.
Wintermute Capitalizes on Crypto/Political Convergence
Wintermute has partnered with trading platforms such as Bebop, WOO, and Backpack to act as market makers for the ERC-20 TRUMP and HARRIS tokens. These alliances ensure broad availability and liquidity for the tokens from launch. Additionally, the TRUMP and HARRIS tokens will be usable in decentralized finance (DeFi) applications and listed on various centralized and decentralized exchanges, expanding their utility and accessibility.
The initiative responds to the overwhelming success of prediction markets in the crypto industry, where users seek more accessible and efficient platforms. The inclusion of the tokens in the DeFi ecosystem and their availability on multiple exchanges is part of Wintermute’s strategy to set new standards in the operation of these markets.