From Ournetwork
Polymarket 🔮
👥 peter | Website | Dashboard
📈 Polymarket Surpasses $1.3B in Monthly Betting Volume in October 2024 and reaches $221M in Total Value Locked
- Polymarket, a decentralized betting platform on Polygon for real-world events, reached a significant milestone on the Oct. 20, 2024 when it surpassed its previous all-time high of $533M trading volume set in September — the platform has hit a new record this October month with $1.3B in trading volume, marking an impressive 2.5x increase. Additionally, Polymarket has amassed 85% of the prediction markets' TVL in crypto. The platform has driven $3.5B of total trading volume to date with 17.7M bets placed.
- Even with the month still ongoing, Polymarket has already hit an all-time high of Safes, a form of smart accounts, created with 109,427 as of Oct. 22. These smart accounts collectively hold $48.2M in off-platform assets at this point, staged for potential platform use — that's a record high for the acquisition funnel, suggesting potential continued usage of the platform.
- U.S. election markets lead Polymarket's trading, but markets unrelated to U.S. elections are also growing, hitting $20M in weekly volume. Over 40K weekly non-election traders now participate, showing Polymarket's potential to sustain millions in betting volume year-round, beyond seasonal events.
Dune - @rchen8🔦Transaction Spotlight:On Oct. 5, someone placed a $1.69M on the "Will Trump launch a coin before the election" market.
Karate Combat 🥋
👥 Winnie Lau | Website | Dashboard
📈 Karate Combat’s Fan-Driven Striking League Surges in Engagement with over 386K Token Holders and 109K participants at its Recent KC50 event; new UP Layer 2 Blockchain to Expand Up Only Gaming
- Karate Combat is a crypto-native pro striking league governed by $KARATE holders. Featuring knockout-focused matches produced with Unreal Engine, KC events stream across TV and social media. Fans can predict fight outcomes via Up Only Gaming, which KC bills as a "software stack," to earn tokens. At KC50, which took place at Permissionless, a recent crypto conference in Salt Lake City, 109k unique players participated, with 8.9B $KARATE tokens, worth ~$5.5M, played. With only 40k players at KC44 which took place earlier this year, engagement has clearly surged —the last four events each drew 90k+ players, peaking at 118k.
- Karate Combat's sleek mobile-first platform offers seamless key management, league governance, NFT displays, token voting & easy onramps. With 99% of users on mobile, fans predict fight outcomes to win a share of the prize pool — 90% goes to users, while the remaining goes to the athletes.
- Given the success of Up Only Gaming, Karate will launch UP L2, enabling partners, for example other sports leagues, to deploy similar apps with zero licensing fees. The $UP token will launch alongside, with 30% allocated to $KARATE holders via staking. The 100k+ users on KC mobile can discover new apps via its quests.
Up🔦Transaction Spotlight:KC47 had the highest participation for KC so far with 117,833 participants who placed predictions on fight outcomes — in total, users played over 4.1B $KARATE tokens. The total prize pool was 169M $KARATE, over $100,000 by Oct. 22 prices. Each fight had a separate pool, with 90% allocated to users who made correct predictions and 10% for fighters. Winners received a proportionate share of the total tokens played. In Fight 1, Rafael, the winner, received 68% of the 616M $KARATE played based on the unique votes and payout ratio.
MetaDAO 🔴
👥 Big Z | Website | Dashboard
📈 MetaDAO's Prediction Market Grants Program launches with 3x Open Interest vs Grant Size
- MetaDAO is an experimental governance platform on Solana, which uses the economist Robin Hanson's futarchy model to drive decisions through prediction markets, rather than staked token voting. This approach aims to improve decision making and offer unique protections for both projects and token holders. Their new grants program has already attracted over three times the open interest compared to the grant amount.
- The project, nearing its one-year mark, boasts high user retention. MetaDAO uses its own futarchy platform for governance. Major spikes in activity align with controversial proposals, such as August's "Should we release Futard.io?" which failed.
- Futarchy as a Service, "FaaS," has already facilitated 34 traded proposals. Joining the derivatives protocol Drift, the liquid staking protocol Jito is actively discussing integrating it into their governance as part of the NCN Grants Program.
Zora ✨
👥 Ricardo de Arruda | Website | Dashboard
📈 Zora's AMM-powered Secondary Market Brought the Protocol to a steady 100K Weekly Active Users since August, but Now Only 30% of the Collections' Creations Come from Zora, Down from 70% Before the Protocol Update
- The Zora Network has had more than 100K weekly active users on most weeks since they introduced their AMM-powered Secondary Markets. This is a significant improvement compared to the usual 20k to 30k range before the update
- However, after the introduction of secondary markets, creators are now less incentivized to publish more collections — previously, more than 70% of the NFT collections created across all EVM chains came from the Zora protocol, this number is now about 30% so far in October.
- As the previous charts indicated, the activity on Zora has drastically changed since the release of secondary markets. This makes sense looking at the protocol volume, given that the secondary markets generated more than twice as much volume as primary markets.
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