New opportunity in the prediction market track: Moonquiz launches first ecological prediction application based on FIFA World Cup
The prediction of future events has always been of greater significance, whether it is the prediction of weather, geological disasters, or the prediction of financial markets, event trends, etc., which are expected to allow individuals and organizations to hedge against potential risks and maximize their returns.
Looking at Web3 field, it’s easily seen that the prediction market is an old track active in the early days of the crypto industry, and after the summer of Defi in 2020, with the rise of the decentralized world and further improvements in infrastructure (especially Oracle), it has had a more significant impact on the development of the prediction market track.
In the world of Web2, the predictions and statistical results of the traditional prediction market are often generated by specific expert groups and political polling organizations and due to the non-transparency and high operation threshold, these prediction results usually lack broadness and representativeness, and some even have specific commercial orientations. This closed, controlled and highly-cost approach dramatically limits the free development of the forecasting market and prevents its globalization and standardization.
A pure public blockchain decentralized prediction market usually based on a consensus-based smart contract, which is open and transparent to all users, ensuring equality and openness of participation and eliminating black-box operations by any intermediaries. All participants taking part in the prediction submit their prediction of the outcome to the contract in a distributed form (in the form of stakes into Tokens most commonly), thus improving the decision-making and accuracy of the predicted events. For the judgment of the prediction results, because of the adoption of the Oracle, which automatically determines the prediction results and disseminates the data to each node in the chain, the users with correct predictions are automatically rewarded to ensure the benefits of the participants in an open and fair manner, moreover, this incentive has a positive circular advantage and usually improves the accuracy of the prediction results. As a result, Web3-based forecasting activities are usually open, low-cost, reliable (scattered samples), flexible (withstands scrutiny), and liquid.
Moonquiz—Diversified And Systematic Web3 Prediction Market Ecology
From the history of the industry, although many prediction markets have emerged under the slogan of Defi and Dapp. Still, in terms of characteristics, these prediction markets usually take the price of the target crypto asset as the main event and direction of prediction. They are usually more similar to a kind of on-chain derivative agreement of price trend (for example, predicting the price trend of a particular crypto asset), which lacks the comprehensiveness and richness of predicting the overall event and lacks the constructive infrastructure of prediction markets, which makes crypto investors lack the investment demands and desire to participate.
Moonquiz is an emerging ecology in the prediction market track, aiming to build a systematic Web3 solution for the prediction market track, expanding to multiple chains, including a panoramic layout of mainstream ecologies such as Ethereum, Solana, BNB Chain, Avalanch, Cosmos, and Layer2, in order to achieve cross-chain internals interoperability within the ecology and provide prediction market including prediction data provision services, capital liquidity services, etc. for all users of these ecologies.
The ecological application of Moonquiz’s overall prediction events is not limited to the crypto industry but extends to events in more fields, such as FIFA matches, NBA, US election predictions and technology company trends, etc. The Development & Operation Team of Moonquiz has also been actively working on partnerships with sports clubs and others and has become an early Web3 peripheral market partner for these mainstream Web2 groups, empowering applications within the ecosystem and creating a buzz for the Moonquiz ecosystem, such as Moonquiz’s first landing prediction event-FIFA World Cup Qatar 2022.
Moonquiz Launches First Prediction Event: FIFA World Cup Qatar 2022
With the coming of World Cup 2022 in Qatar, Moonquiz has launched the first Web3 landing prediction event for the FIFA matches, which is first being deployed on the BNB chain and open to all crypto users. Moonquiz Dapp address is:https://dapp.moonquiz.io/
Users on Moonquiz’s eco-system can make predictions about the results of different race teams, and those who predict correctly will split all the rewards (USDT) of the total prize pool of the predicted event after the end of the race. Users can visually see the total amount of the prediction event when they make their predictions, everything is transparent and open.
Currently, Moonquiz has set up four optional prediction events for each match to predict the 2022 World Cup results: total goals, over/under（O/U), match winner, and score. In order to allow more people to participate, Moonquiz has set up a simple, low-threshold, and easy-to-understand mechanism for predicting events, such as guessing the winner and runner-up, which is easy to operate and extremely friendly to new users.
Moonquiz Community Users’ Rights
Moonquiz is a DAO ecology based on users’ rights. The future prediction events’ launch and the doubtful determination of the prediction results will be governed by DAO voting. In addition, 1% of the platform revenue will be used for community ecology incentives to promote the development of the ecology.
Moonquiz ecological application uses MQZ Token as an ecological token, and the holder will have many rights and interests such as bonuses and voting.
60% (60,000,000) of the total MQZ amount will be used for predicting rewards, which means that all users who participate in prediction projects in Moonquiz ecological application will be able to get MQZ airdrops, regardless of the prediction results.The daily number of MQZ Token a user can get during the FIFA World Cup 2022 is:
individual prediction amount / total prediction amount of the whole network * daily release amount (40,000 MQZ)
Besides, 30% (30,000,000) of the total MQZ will be awarded to users who have helped promote the platform or contributed to the ecosystem. November 15 — December 18, 2022, is the first phase of Moonquiz Community Partners, during which 60,000 MQZ will be released daily as an incentive for users to contribute to the development of decentralized prediction, this means that users who invite other users to the platform to successfully participate in prediction will also receive MQZ airdrops.
The remaining 10% (10,000,000) of the total MQZ amount will be awarded to community members who help Moonquiz with its development, ongoing iteration, and drive the project forward. The development team and MQZ community holders will also be given first access to new product releases in the ecosystem.
To extend the prediction ecology and increase the influence of community users in Web3, Moonquiz has officially launched the Community Partner Program – users can refer other users and receive 2 levels of rewards (MQZ):
All prediction events will be charged a 5% transaction fee by Moonquiz for:
1. Community Partner Bonus (1%), community partners who hold MQZ will share 1% of the predicted event amount equally.
2. Buyback of governance tokens – MQZ (2%), to further promote the value of MQZ in the secondary market and reward MQZ holders.
3. Technology research development and marketing operations (2%)
FIFA World Cup Qatar 2022 is the first prediction event launched by the Moonquiz ecological application. In the future, it will continue to launch predictions of various popular events and hot events and further develop into the Web3 infrastructure field while creating a diversified and multi-layered Web3 prediction market ecological application.
Applications To Infrastructure To Ecology
With the basis of its own ecology, Moonquiz will develop its own Oracle that can be used in prediction scenarios, collaborate with world-renowned event data providers such as Statperform to provide prediction data services for other prediction market applications and integrate prediction market features for more DAPP projects. Meanwhile, Moonquiz will also build a set of prediction market networks built by liquidity providers and introduce liquidity providers to make the ecology run more efficiently. Through building an ecosystem of blockchain-based data providers, liquidity providers, and developer service networks, and combining multi-chain support, Moonquiz ecology will expand from applications to prediction market infrastructures, making an ecologically integrated To B total solution in the prediction field.
Along with the development of Moonquiz prediction ecology, it is expected to become a Web3 prediction ecology with reference, leading the Web3 prediction market to explore more possibilities and generate actual deep correlations, further enabling individuals and organizations to hedge risks, improve the liquidity and accessibility of capital in the prediction market, enhance the effectiveness of people’s decisions, and prepare for future development through the prediction services of integrated solutions.
As traditional centralized prediction marketplaces usually lack extensiveness, fairness, and of high expense, the results are usually directional. With the prediction marketplace becoming on-chain and Web3, the emerging prediction marketplace that is credible, fair, and has extensiveness is expected to become the new statement in this field. With an open and extensive deployment, Moonquiz is becoming an early mover and builder of infrastructure for this new trend. The prediction market is supposed to be an immediate and blue ocean market with potential, and Moonquiz is expected to build the first infrastructure ecology of Web3 prediction market based on its own ecology and extensive links with more traditional business forms to promote the deep integration of Web3 world and Web2 world.
Moonquiz Official Website: https://www.moonquiz.io/en