Token Mechanics
- Wintermute launched OutcomeMarket to address existing prediction market challenges, such as high fees and regulatory issues, by offering a permissionless platform for users to speculate on events like the 2024 US Presidential election.
- $TRUMPWIN and $HARRISWIN tokens are minted via the OutcomeMarket smart contract from Wintermute.
- The OutcomeMarket smart contract generates these tokens and retains and holds the deposited USDC until the event concludes. After the event, in this case, the 2024 U.S. Election, If Harris or Trump won the elections, each token could be redeemed for 1 USDC. In the unlikely scenario where neither candidate wins, each token would be redeemable for half its original value, or 0.5 USDC.
- The contracts have been audited by both Hexens and Cyfrin.
Event Mechanics
- Users can trade the prediction tokens ($HARRISWIN or $TRUMWIN) representing the potential outcomes of the 2024 US election, from the listing date until the official results are announced.
- There will be 2 pairs of tokens on the WOO X’s Prediction Market, the $HARRISWIN/USDT and $TRUMPWIN/USDT.
- These 2 tokens will be listed under the WOO X Prediction Market tab.
- The value of each token will be the prediction market’s perceived probability of the occurrence of a particular event. E.g. if the probability of Harris winning is 0.6, the HARRISWIN token will be 0.60 USDT.
- The value of each token will range from $0 to $1.00.
- Users can transfer the $HARRISWIN and $TRUMPWIN tokens between sub-accounts and vaults like any other token. However, the $HARRISWIN and $TRUMPWIN prediction tokens cannot be used as collateral, and cannot be borrowed or shorted.
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$HARRISWIN and $TRUMPWIN Trading Period:
- WOO X has full discretion to determine and change the prediction tokens trading period and close its trading function without prior notice to the users.
Outcome and Settlement
The outcome of this event will be determined and declared by Chaos Lab. For more information, please refer to Chaos Lab Edge Proof Oracle for Determining the 2024 U.S. Election Winner.
The settlement of this event will be conducted by Wintemute and OutcomeMarket smart contracts. WOO X will assist in collecting the winning prediction tokens for redemption and distributing the equivalent USDC amount to WOO X users. For more information, please refer to Wintermute’s OutcomeMarket FAQ.
Disclaimer
The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself. WOO X’s Terms of Service restrict usage for US persons and persons from select other jurisdictions to trade. We recommend reviewing the full Terms of Service to understand any restrictions that may apply to you.
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