A payout on Melee consists of two parts:
1. A guaranteed floor that locks on entry
2. Liquidity rewards that accrue throughout the duration of a market
As more people take the other side and the odds move, your payout rises just by holding onto your position.
Every prediction market you've ever used has a gatekeeper. Not anymore.
The era of creator-made prediction markets starts now.
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in 1867, a parisian perfume shop owner built a betting system so good france nationalized it
150 years later, @meleemarkets just evolved it into something no prediction market has ever had
here’s how the PMM works. 🧵
parimutuel market maker is an exciting attempt to create permissionless prediction markets
it has its origin in horse racing and it works. excited to see teams pushing this new primitive
permissionless prediction markets have long been a coveted goal, but historically they haven't worked due to a few hard structural problems
the PMM is a totally new mechanism designed to solve them
really excited to see it go live soon, & check out the paper in the meantime