Community Feedback: Announcing PlotX Roadmap 2021

#1

Journey so far

When we drafted the PlotX initial roadmap in 2020, we were just a bunch of folks inspired by how the wisdom of the crowd can influence righteous decision-making. We were also inspired by the simplistic genius of the AMM algorithm of Uniswap, wanting to build a clean & fun prediction markets experience using AMM for crypto traders.

Here’s a snapshot of our 2020 roadmap, and corresponding “:heavy_check_mark:“ on items that have been completed as of 30th March 2021).

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Over the last 6 months, community feedback has shaped a lot of what PlotX is now. From introducing Participation Mining, to changing market cycles to optimizing the smart contracts for reducing gas costs, to moving over to an L2 solution - community inputs have been key to all big decisions of this project.

Current Status of PlotX

The PlotX smart contracts are open-sourced and bustling with activity as we design an EVM compliant cross-chain solution for scaling PlotX. Feel free to explore the code repo at PlotX · GitHub

Here’s a revamped Roadmap that we’ve been working on behind the scenes, once again with “:heavy_check_mark:” marks to showcase items that have been completed by 30th March 2021.

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Here’s a summary of items completed during Jan-Mar 2021:

  1. Designing v2 with a focus on cross-chain scaling of PlotX Prediction Markets.
    a. Research on various L2 scaling options like zkRollups, Optimism, PoS chains like Polygon, xDAI and separate ecosystem chains like Binance Smart Chain, Heco and Polkadot.
    b. Migration & Deployment of PlotX on Polygon.
    c. Implementation of gasless transactions on Polygon

  2. Mega improvements in UX
    a. Integration with Magic Link for the simplest ever wallet experience in DeFi
    b. Design & Development of a completely new UX for easier than ever predictions

  3. Adding More Utility for $PLOT
    a. Staking on UniFarm to give token holders the ability to farm multiple additional tokens
    b. Designing a pooled staking model for market creation - to be launched soon.

  4. Partnerships
    a. Partnership with Findora to explore anonymous on-chain predictions
    b. Partnership with Chainlink to get the most decentralized price feeds on Polygon
    c. Partnership with Transak for fiat on-ramping - launching soon

  5. Announcing a new product feature - Pre-market asset predictions
    a. Beta testing of Pre-market asset predictions - a new and exciting type of prediction market to enable price discovery of yet-to-launch tokens

  6. Adding more markets to the PlotX prediction markets
    a. On v2, users can add almost any type of prediction market to predict on, with or without decentralized oracles.

Important: PlotX v2 will be released on the Polygon network soon. The much-awaited v2 testnet will be live for private beta testing on 1st April 2021 #cantwait

What’s next? Choose Your Adventure!

When I was a kid, I used to love reading the ‘choose your adventure’ novels where the reader decided what route the protagonist in the story would take. It made the entire experience a lot more fun!

We’re trying something similar with the PlotX Roadmap. I’ve listed down some of the ideas we are keen to work on starting April 2021.

While we’re confident of being able to deliver these, we would love for the PlotX community to be a part of designing the roadmap. Share your thoughts and suggestions in the comments below. Choose your next adventure!

  1. Launch PlotX v2 on Polygon
    a. The PlotX v2 testnet goes live on 1st April 2021.
    b. We plan to launch the PlotX v2 on the Polygon mainnet hopefully by the mid / end of April.
    c. We also plan to launch a $PLOT/USDC pair on Quickswap for launching a PLOT market on the Polygon Network.

  2. Launch Positions Trading Engine
    a. Ability to trade positions in/out of the prediction markets, making it easier for users to enter/exit the markets.

  3. Launch of Pooled Staking for Market Creation and liquidity provision
    a. The ability for token holders to deposit PLOT under a common pool creates markets on PlotX with incentives that can provide a handsome APY for pool liquidity providers while solving for the capital efficiency of prediction markets.

  4. Launch PlotX v2 on Binance Smart Chain
    a. The PlotX v2 has been designed with a cross-chain architecture. We are now in a position to migrate to an EVM compliant chain quickly to test how user acquisition gets a boost.
    b. In that spirit, we can launch on the BSC along with launching a $PLOT pair on Pancakeswap to initiate a trading market on BSC, followed by a BSC deposit & withdrawal functionality on the PlotX v2 app.

  5. Launch PlotX v2 on Huobi Chain (Heco Chain)
    a. Just like for BSC, we can also launch on Heco Cain along with launching a $PLOT pair on MDEX / LAVA to initiate a trading market on Heco, followed by a Heco deposit & withdrawal functionality on the PlotX v2 app.

  6. Launch of PlotX pre-market asset predictions
    a. Price discovery for pre-IDO tokens. A very interesting use-case for prediction markets to assess the community sentiment of a pre-market asset.
    b. Price discovery for NFTs. Artists face a hard time in deciding how to value their work. Price discovery for NFTs using prediction markets can change that.

  7. Design User Levels & integrate NFTs to the PlotX ecosystem
    a. Rare collectables/badges for top players, community members, token holders

  8. Adding perpetual prediction markets
    a. Prediction markets that don’t have an expiry date, make it much more capital efficient.

  9. Research & design of a decentralized house approach for PlotX
    a. Always liquid markets with transparent probability calculations.

  10. Design & Launch a Referral program
    a. The ability for users to invite others & earn

  11. Social Tokens (shhh…)

Let’s get the ball rolling. Share your thoughts, critique, ideas on how to shape PlotX as we enter April 2021.

3 Likes
#2

hey Kartic - this is a great write up! looks like you guys have had a big 2020.

I had a Q around launching on other EVM compatible chains. What does this mean for the current erc20 $PLOT token and how does creating pairs across BSC or Heco chain work?

1 Like
#3

Hey @russ, when we bridge PlotX to other EVM chains, we will create cross chain bridges for movement of PLOT holders between Ethereum and EVM chains (both ways).

Designing such bridges has been a challenging task up until now, but with the advent of cross-chain swap technology, it is becoming easier.

The rationale for implementing cross-chain swaps is to allow users of any EVM chain to access PlotX with a smooth UX.

Let me know if that answers your question.

1 Like
#4

All

Looks like lots in the pipeline very exciting

Anything that increase liquidity to Plot markets are welcomed so points 1,4 and 5 would certainly help with this.

Reference to point 2 could you elaborate how this would work.

With regards to point 3 will the liquidity mining be planned to be extended when the current farm finishes on May 11th. This is a good incentive to continue to hold your plot tokens.

Point 6 sounds like it could be a unique use case for PlotX and would set it up not just to be a prediction market but a forecasting tool that could assist many different sectors in the crypto space. Interested to see how this develops

Like the idea of point 7 NFT’s something unique to aim for with plot.

With reference to point 8 perpetual prediction markets, How would these be settled ? would it work a bit like futures trading ?

All in all future sounds very promising for Plotx

1 Like
#5

Also, hoping for an extension of liquidity mining! The rewards are a great reason to hold long term.

Also, once the mobile app is finished, will it be available to all jurisdictions?

#6

Hey @Chestercharlie thanks a lot for your feedback to the roadmap & apologies for the delayed response. This has been in the drafts for a few days!

You are correct in identifying liquidity as a big focus point for us and the roadmap suggests the same. I’ll attempt to answer your queries below.

Point 2 is about providing users the ability to trade the positions they have taken in the markets. Let’s say you made a prediction in the weekly market and wanted to exit out of that prediction sooner than the market settlement time, you would be able to do that with the help of a positions trading engine by selling your prediction.

Point 3 isn’t actually about the current liquidity mining program, it is meant to address the issue of market liquidity. The overview of how it will work is:

  • Regular users can put their liquidity into a pool
  • This pool will then be used to provide liquidity for market creation
  • And the users who put in their liquidity will get staking/market creator’s incentives

On point 8, the basics are similar, however, the underlying contracts will be different than perpetual futures trading.

I hope this answers your queries. Let me know if you have any more, would love to answer!

#7

Are you participating in the current LM program @SpicyKitten? Would love to have a quick chat with you about your experience and how we may improve it.

We will share all the info about the Liquidity Mining program via our Telegram Announcements channel - click here to check it out!

The issue with jurisdictions is something we have very little control over, unfortunately. Compliance, in crypto, takes time to sort through.