Today, we introduce the PMM.
A new liquidity primitive that bootstraps prediction markets from first dollar and the first significant update to parimutuel systems in 160 years.
Permissionless prediction markets will become a trillion-dollar category. The PMM is the market structure that gets them there.
I am incredibly proud of the Melee team for building the PMM from zero to one in just six months. Special shoutout to @NickPreszler and @zen_llama for the creativity and grit that made this possible.
We will look back on this as prediction markets’ AMM moment.
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