OptionRoom (ROOM)

OptionRoom is a user governed oracle and forecast protocol built on Polkadot.

Whitepaper

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Interest lvl

Medium

Updated: Feb 01, 2021

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User Rating

Highest

4.7/5 • 3 votes

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Ticker

ROOM

Type

Utility-token

Ecosystems

Polkadot

What is OptionRoom

OptionRoom is a user governed oracle and forecast protocol built on Polkadot. OptionRoom has the ability to serve as a OaaS - Oracle as a Service where oracle requests are solved by governance. Oracle requests cost a fee and a solution incentive paid in ROOM, rewarded to request solvers. OptionRoom allows users to create and participate in event derivatives that are pegged to real world outcomes by governance consensus. Introducing a dual token model with a utility token (ROOM) and a governance token (COURT).

COURT tokens are obtained by providing liquidity/staking ROOM, while ROOM tokens are rewarded to protocol participants. COURT tokens are staked into governance for voting power determined by authenticity score - amount of time staked. Honest governance participants are rewarded with ROOM tokens while dishonest participants are punished by token slashing and authenticity score reset. Protocol fees power a buyback mechanism.