All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- The Zeitgeist-Polkassembly integration enhances Polkadot’s governance, allowing users to forecast decisions and earn financial gains, incentivizing community participation and engagement.
- Participating in Polkadot decisions becomes exciting with Zeitgeist, where users, by forecasting outcomes, gain direct financial incentives, maximizing community interaction.
Zeitgeist, Polkadot’s prediction marketplace, has announced an integration with Polkassembly. This initiative aims to transform decentralized governance by enabling users to benefit from Polkadot’s governance decisions through Zeitgeist’s prediction marketplace to accurately forecast their outcomes.
how does the Integration work?
Thanks to this union, the stimulus to participate in and monitor governance decisions in Polkadot will be expanded. This push seeks to encourage greater decentralized intervention by token holders, achieving more intense community participation.
It also introduces an exciting element to decision outcomes, giving Zeitgeist users a direct financial incentive to stay informed about activity on Polkadot.
Transforming Zeitgeist for Polkadot Governance
Zeitgeist offers numerous predictive markets ranging from blockchain exploitability to sporting event outcomes. Current options include the likelihood of Tyson Fury defeating Oleksandr Usyk in their scheduled Feb. 17 showdown, the eventual Blast Bridge exploit, and the possibility of SBF being sentenced to 50 years or more.
Now, governance decisions at Polkadot can also be subjected to the predictive markets treatment. Governance-related markets are now available on Zeitgeist.
One of them questions whether Referendum 385, a community memecoin marketing campaign, will be approved and, if so, whether the proponents will deliver on the promises made in the proposal. So far, this market has registered a volume of 3.35K in DOT.
An additional governance market currently in operation addresses whether Lunar agency will comply with Proposition 385 related to $DED promotion. According to Polkadot activist Giotto De Filippi’s suggestion,
“The implied probability suggests that enforcement is very likely, 90%. To those who question Lunar, I invite you to bet against it and take the win.”
Gamifying Vote-by-Vote Governance
In any blockchain environment, governance decisions generate both winners and losers. While some proposals pass without opposition, others are highly controversial. Thanks to Zeitgeist, more members of the Polkadot community can participate in governance indirectly by having a financial interest at stake.
Logan Saether, CEO of Zeitgeist, explains:
“The integration allows easy access to ongoing referenda, with an additional feature to make predictions on the outcome of the proposal. We are looking for the majority of these markets to be DOT-denominated, making it easier for the Polkadot community to participate.”
The integration of Zeitgeist’s prediction markets into the Polkassembly user interface will allow users of the Polkadot OpenGov system to use their expertise to make predictions and be rewarded each time they get the outcome right. The Zeitgeist and Polkassembly teams are in the final phase of the integration, anticipating its early completion and ushering in a new phase for Polkadot governance.
