LIVE: DXdao Community Competition for Omen Markets - Batch #1

LIVE: DXdao Community Competition for Omen Markets - Batch #1

Document on IPFS: https://gateway.pinata.cloud/ipfs/QmT5fDqhqcoERfy1b5AmHpfVSmnE8fGuGxuTFuA1gQqEvj

Summary:


Note: This Competition is LIVE on xDai Chain.
If you need help using xDai Chain, you can reference this site:
https://www.xdaichain.com/for-users/wallets/metamask/metamask-setup

Omen has seen some ups and downs and ups over the past 6 months.

Weekly users of Omen showed attractive numbers during mid-summer and then more recently around the US elections. In between, activity was low, largely affected by Ethereum’s high gas prices.

Activity around the creation of Omen markets was stronger earlier in the year, but hasn’t really picked up recently, even with more reasonable gas prices.

Omen is a product of and for the DXdao and Omen communities and DXdao has a desire to put in place systems that make it easier for these communities to contribute and participate in the success of Omen.

As part of that goal, the sourcing and creation of top notch Omen markets is a key piece of the puzzle.

At the same time, DXdao has recently launched and is experimenting with a DXdao base on xDai Chain, commonly referred to as “xDXdao” and found here: https://xdai.v1.alchemy.do/dao/0xe716ec63c5673b3a4732d22909b38d779fa47c3f

xDXdao is a tool that DXdao can leverage - it’s cheap, fast and easy to use, while being proven to be secure.

On xDXdao, there is a Competition Scheme that allows anyone to propose a Competition.

A week ago, a proposal was raised to create a competition to help DXdao source Omen markets from the community. The details for this proposal titled “Community Competition for Omen Markets - Batch #1” can be found here:

Update: The proposal has passed and the Competition has begun!

The Competition can be found here:

You can use the “+ New Submission” button to enter a market into the competition.

Follow these steps:

  • Choose any relevant “Title”
  • Write your proposed Omen Market in the “Description” field
  • Include any relevant “URL”
  • Leave your “Recipient” wallet address or manually enter another one to receive the award if you win
  • Click “Submit submission” button and confirm the transaction.

Anyone from the community can propose an Omen market in the competition.

You can enter as many markets as you would like.

Please keep in mind best practices when proposing your Markets.

You can reference Omen FAQs here: https://omen.eth.link/faq.pdf

and Omen Market Resolution Rules here: https://omen.eth.link/rules.pdf

Once the Submission Period ends, the Voting Period will begin. All REP holders in xDXdao will be able to vote during this period for the top three Omen Markets.

As part of this competition, the top three winning markets will be created and funded by DXdao.

At the conclusion of the Competition, the community members who propose the winning markets will automatically be rewarded with 500 REP in xDXdao, allowing the winners to vote in xDXdao, including on future Omen Market competitions, and also 100 xDai each.

If you have any questions, feel free to ask in the #Omen keybase channel.

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Omen Market Competition Batch #1 - Results

This post gives a summary of the Omen Markets Competition that just ended.

There were 18 submissions into the competition and there were many great market ideas.

There were lots of varied topics from politics to crypto to NFTs to sporting events.
You can see the submissions here: https://xdai.v1.alchemy.do/dao/0xe716ec63c5673b3a4732d22909b38d779fa47c3f/crx/proposal/0x9b5eeb8c53de997d1508952f4d6764e21ba1b8af042be1a0b426ae18d616dd93/competition/submission/0xf933fa45431a3637353073ace01f716d767e6781acbf97adc3849738b114949c


The three markets the received the most votes were:

In 1st Place with 96.01k REP
Submitter: 0xbf0dc9434b89f6271621548c01c247873ec2c207

Will Uniswap v3 launch in Q1 2021?
Details: Predict if Uniswap v3 will be launched in Q1 2021 (between 01/01/2021 12am EST and 31/03/2021 11.59pm EST); where “launched” is intended as deployed and usable on the Ethereum mainnet or any L2/scaling solution.
Outcomes can be verified on: https://github.com/Uniswap https://uniswap.org/
Possible outcomes: YES or NO

In 2nd Place - 90.79k REP
Submitter: 0xd714dd60e22bbb1cbafd0e40de5cfa7bbdd3f3c8

Will Compound Chain launch by the end of Q2 2021?
Details:
(https://compound.cash/)

In 3rd Place - 75.97k REP
Submitter: 0xd714dd60e22bbb1cbafd0e40de5cfa7bbdd3f3c8

Will Joe Biden be president by the end of 2021?
Details:
This market is interesting for a few reasons: 1. there is still an outside chance of a delayed transition of power. 2. given Joe Biden’s age, there is a chance that health complications could force him to step down.


The DXdao community has plans to create and fund these winning markets.

The winners can “Redeem” their prizes of xDXdao REP and xDai using the “REDEEM” function on Alchemy.

Please reach out in the #Omen channel on Keybase if you have any questions.

Thanks to all the participants in the first Competition, and thanks to all the voters.

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