DXbiz Weekly Meeting [2021-05-03] - Omen Product Related Takeaways

Here are some takeaways that will be focused on and put into action.

DXbiz takeaways related to Omen product from today’s call:

  1. Continue and expand the Omen twitter program around markets connected to Crypto/Ethereum/DeFi communities

    1. Measure and analyze results
    2. Goal to spread Omen awareness and hopefully increase trading volume
  2. Focus on shorter term markets - feeling is that people don’t want to lock up capital for longer times

    1. Focus on 1 week, 2 week, 1 month mkts
    2. 6m to 1+ year markets are less interesting
  3. Quicker settlement

    1. People don’t want to wait long to claim winnings
    2. Currently recommend 6 days following outcome - often this can be 2 days or maybe even 1 day, but don’t try to get to close to actual outcome moment
  4. Idea already in progress is bring in new collaterals of communities

    1. This was done with STAKE
    2. We are looking at introducing RAI now too
    3. Does RAI make sense on Mainnet and xDai
    4. What other tokens make sense?
  5. About 60% of people’s ideas were more about Product changes/enhancements and not what can be done with current product

    1. Coordination with Omen product team is key
    2. Understanding what can be done today is key
  6. Many comments had confusion about attracting users versus attracting LPs.

    1. These are two very different things
    2. Making sure we know what action is focused on what goal is important
  7. How to discover better markets?

    1. Run more Omen Market Competition Schemes on xDai
    2. Create central place where Market ideas can be presented
      1. Google sheet - people less interested
      2. Discord group - interesting (how to reward good ideas?) Connect wallet?
    3. Copy popular markets from other platforms

Any other ideas?