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What is Entropyfi?
Entropyfi is a platform that allows users to amplify their passive income through fun prediction games. The first product offered by Entropyfi is a lossless prediction game, which enables users to increase their yield in a low-risk manner. Unlike traditional prediction markets, Entropyfi eliminates the financial disincentive for making incorrect predictions. Instead, it utilizes the yield on the deposit pool to reward winners, creating a better-aligned financial incentive design. This allows Entropyfi to scale the prediction market and provide a more reliable and scalable crowd wisdom sourcing machine. Currently, Entropyfi is deployed on Ethereum Kovan testnet and Polygon Mumbai testnet. You can try out the beta version at https://app.entropyfi.com/. For guides on acquiring Kovan testnet tokens, please visit https://docs.entropyfi.com/user-guide/getting-testnet-tokens. In the next major update, Entropyfi will introduce pegged asset insurance markets and bundled insurance markets.
What makes Entropyfi Prediction Market lossless?
When you participate in the Entropyfi Prediction Market as a player or sponsor, 100% of your principal tokens are supplied to Aave to generate interest. At the end of the game, the interest generated from the players' and sponsors' principal is distributed to the winners. This means that by leveraging your prediction skills, you can amplify your yield.
How is Entropyfi different?
Entropyfi differentiates itself from traditional on-chain prediction markets by being lossless. In traditional prediction markets, users face losses on their principal if their predictions are incorrect. This characteristic makes it challenging for traditional prediction markets to scale, as users who experience losses may disengage from the platform. Entropyfi allows users to engage in prediction markets without risking their principal. Additionally, Entropyfi supports a "set-and-forget" strategy, where users' positions are automatically rolled over to the next round, compounding their profits. Entropyfi also supports asymmetrical prediction markets for low-probability events, effectively functioning as an insurance protocol. The concept of being "lossless" is fundamental to the success of prediction markets according to Entropyfi.
What is ERP Token?
ERP token is the governance token for Entropyfi. Users can earn ERP tokens by providing liquidity and sponsoring deposits into each prediction market.
How Many ERP Tokens Are There in Circulation?
There are 1,000,000,000 ERP tokens in circulation.
Where Can I Buy ERP Tokens?
Entropyfi's public sale for ERP tokens will take place on https://www.deversifi.com/. The IDO will be available for 48 hours starting from Oct 28 10:30am PST/ 5:30pm UTC. You can sign up for the sale at http://deversifi.com/DLM/signup.
Answers
What Is Entropyfi?
Entropyfi allows users to amplify their passive income with fun prediction games. Our first product is a lossless prediction game which allows users to amplify their yield in a low risk manner. Entropyfi offers crypto asset price prediction games and differentiates itself with the lossless function. Lossless means we remove the financial disincentive that penalizes users who make wrong predictions. Instead, Entropyfi utilizes the yield on deposit pool to reward winners. With a better aligned financial incentive design, Entropyfi is able to scale the prediction market and provide more reliable and scalable crowd wisdom sourcing machine.
Entropyfi is currently deployed on Ethereum Kovan testnet and Polygon Mumbai testnet. We invite you to test out the beta version at https://app.entropyfi.com/. For guides on how to acquire Kovan testnet tokens, please visit https://docs.entropyfi.com/user-guide/getting-testnet-tokens. In the next major update, Entropyfi will provide pegged asset insurance markets and bundled insurance markets.
What Makes Entropyfi Prediction Market Lossless?
Whether you are a player to a prediction market, or a sponsor to the pool, 100% of your principal tokens will be supplied to Aave to generate interest when you deposit money to Entropyfi.
When the game ends, the interest generated from the players and sponsors principal will be distributed to the winners of the game.
Simply put, you are amplifying your yield with your prediction skills.
How is Entropyfi different?
The traditional on-chain prediction markets are loss-realized, meaning users will take a loss on their principal if they made the incorrect prediction. The loss-realized characteristics make it difficult for traditional prediction markets to scale, as users who suffered loss might stop engaging with the product. Entropyfi allows users to engage in prediction market without risking their principal. In addition, Entropyfi supports set-and-forget strategy, where the protocol itself will roll over users positions to the next round, hence compounding the profits. Entropyfi also supports asymmetrical prediction market for low-probability events prediction, thus functioning as an insurance protocol. We at Entropyfi believe that lossless is a crucial part of the success of prediction markets.
What is ERP Token?
ERP token is the governance token for Entropyfi. ERP token is also rewarded to users for providing liquidity and sponsor deposits into each prediction market.
How Many ERP Tokens Are There in Circulation?
There are 1,000,000,000 ERP tokens in circulation.
Where Can I Buy ERP Tokens?
Entropyfi will have its public sale on https://www.deversifi.com/. The IDO is available for 48 hours from Oct 28 10:30am PST/ 5:30pm UTC. Sign up here http://deversifi.com/DLM/signup.
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