πCreating a PredIQt market
PredIQt is the first prediction marketplace allowing for both real-time trading & complete decentralization. This means that all markets on PredIQt are created for users, by users.
Market Creation Process
Step 1
Hover over the 'Markets' tab and click 'Create' to get started
Step 2
Enter a user-friendly title, brief description, and cover image for your market
Step 3
Add details for how your market should be resolved
Make sure that all possible scenarios are addressed for your market so that users are comfortable betting⦠markets with potentially ambiguous outcomes tend to do poorly.
The most popular PredIQt markets usually include a link to a data source which should be used as the 'source of truth' for determining the market's outcome.
Step 4
Set the market's Expiration Dateβ¦
Make sure that the market will definitely be resolvable on the expiration date you specify.
WARNING: Provide a buffer to ensure the market is still resolvable in the event of unexpected delays
Setting the expiration date a day or two after the market is expected to resolve can help ensure unexpected delays related to the reporting of a market's outcome don't result in an 'INVALID' resolution
Step 5
Submit your market!
Note there is a current 2,500 IQ deposit required to propose a market (discourages spamming)
If your market isn't approved, you will receive an 80% refund of your deposit
If your market is approved, this deposit will be burned, and you can recoup it + earn a profit from the 2.5% commission you'll receive (based on the total number of shares issued, at the time of market resolution)
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