OptionRoom — New Project built on Polkadot

4 min readJan 28, 2021

Abstract:

OptionRoom is a governed oracle and forecast protocol built on Polkadot. OptionRoom aim is to create a scalable protocol with multiple use cases: from oracle as a service to limitless event derivates.

Protocol Features:

OaaS: User governed Oracle as a service: OptionRoom has the ability to serve as an OaaS — Oracle as a Service where oracle requests are solved by governance.

User governed forecast market protocol: OptionRoom allows users to create and participate in event derivatives that are pegged to real-world outcomes by governance consensus

Dual token model: Dual token model: ROOM serving as the utility token of OptionRoom and COURT serving as the governance token of the protocol.

Governance staking and authenticity score: Users stake their court for an increasingly higher authenticity score, meaning more voting power. Honest governance participants are rewarded with ROOM while dishonest participants are punished.

LP mining: The governance token COURT can only be obtained by providing liquidity/staking the utility token ROOM

Self-sustainable and community based: Protocol fees fuel a buyback mechanism. The founders of OptionRoom receive no percentage of the protocol fees.

Built on Polkadot: OptionRoom v2 is planned to be built on Polkadot.

User incentives: OptionRoom rewards protocol and governance participants. Pools creators get rewarded with a percentage of the pool winnings, creating an incentive to promote their pools.

Reward buffer pool: Excessive fees generated from the protocol are diverted to a reward buffer pool to be used as protocol rewards reducing inflation.

Multiple use-cases: OaaS, limitless prediction markets, decentralised polls, dispute resolution, decentralised surveys, curated lists — are some of the use-cases of OptionRoom’s architecture

Mission:

OptionRoom mission is to create a self-reliant protocol with multiple use cases powered by the community. By rewarding honest protocol participants and punishing bad actors we aim to create a governance that is pegged to the real world without relying on outside data streams.

ROOM Token Metrics

ROOM is the native token of OptionRoom ultimately required as payment for OptionRoom’s products and distributed as incentives for active and honest protocol participants.

ROOM token metrics are as follows:

Total amount raised: $1,000,000

Initial market-cap on launch: $315,000

Initial circulating supply (excluding liquidity): 9.2%

Seed Round: $200,000 raised from NGC Ventures, CMS Holdings, Spark Digital, Paka Fund, PNYX Ventures and NetZero Capital.

Private Round: $700,000 to be raised from strategic individuals. The average ticket size for private round was <$5,000.

Public Round: $100,000 to be raised. More information on Public Round coming soon.

Max Supply: 100,000,000 ROOM

Please note: To meet Compliance frameworks we prohibit investors from Belarus, Burundi, Central African Republic, Cuba, Iran, Irak, North Korea, Sudan, South Sudan, Syria, Crimea, Venezuela, Libya, Zimbabwe, Canada, US Virgin Islands, or any other possessions of the United States are not permitted to participate in any kind of sale conducted by OptionRoom.

ROOM Token Distribution:

Seed Round: 11% of total supply. 20% unlocked on TGE then 0.25% unlocked daily starting month 3 for 320 days.

Private Round: 20% of total supply. 25% unlocked on TGE then 0.5% unlocked daily starting month 3 for 150 days.

Public Round: 2% of total supply. 100% unlocked on TGE.

Protocol Rewards: 38% of total supply. Reward mechanism initiated on protocol launch and distributed over 2+ years. The reward mechanism can be adjusted by governance after protocol launch.

Team: 10% of total supply. 1 year cliff with 1 year vesting thereafter.

Foundation: 14.7% of total supply. 1 year cliff with 1 year vesting thereafter. A portion of foundation tokens will be used for COURT staking after protocol launch as an emergency measure to prevent bad actors.

Liquidity: 4,3% of total supply. 100% unlocked on TGE and used as initial Uniswap and exchange liquidity. $300,000 total Uniswap liquidity will be locked for 1 year within the first 3 days after TGE.

What’s different:

They have elected to slightly reduce their total raise amount and have allocated the surplus tokens toward initial liquidity.
Seed and Private Round investors will be vested with a more linear daily unlock schedule based on smart contracts. This is done to eliminate all major token cliffs in the following months after the initial TGE release.