Bitcoin is soon getting its very own prediction market.
It's called
@echo_markets, and it's powered by Charms!π
Echo Markets uses BTC as its native currency. Users create and settle markets, place bets denominated in sats, and win back more sats if their bet is correct.
This is real BTC on the Bitcoin chain. You don't need to wrap or onboard an L2 for access, since Charms enables smart contracts and programmatic asset issuance directly on the Bitcoin ledger.
On the smart contract side, Echo builds on the
@CharmsDev team's existing progress with CAST: establishing a native Bitcoin orderbook DEX that can support partial fills.
An orderbook allows users on Echo to trade programmatically issued "YES" or "NO" charms tokens for each market. By depositing BTC into a market, users can mint equal amounts of YES and NO charms directly proportional to their deposit size.
At each market resolution, holders of either the YES or NO charms can burn their holdings for BTC in the betting pool, while the incorrect side's charms plunge to zero.
Markets can even be programmed with fee collection and congifurable trading fees.
This wasn't built by us, but by
@ivanmolto - just a curious builders who dove deep into the Charms docs and got inspired. Echo Markets now has its own doumentation and is coming along nicely.
See its docs here:
docs.echomarkets.xyz/
And the github:
github.com/EchoMarkets/docs
What other dapps will Charms inspire us to bring to Bitcoin?