The Oasis Protocol Foundation is excited to announce dedicated resources to support the Ocean Predictoor Data Farming incentives program to foster the accelerated growth and development of Predictoor data markets. As a “predictoor,” participants contribute predictions to Predictoor contracts and earn rewards for selling accurate predictions.
Oasis has dedicated 400,000 ROSE for the Ocean data farming incentive program.
Ocean Predictoor is a crowd-sourced, on-chain dApp for making and verifying predictions, with smart privacy features enabled by Oasis Sapphire. Individuals can submit predictions and stake on them. Money is made when they are correct and lost when they aren’t. Predictoor data farming is a subset of Ocean data farming rewards programs that were created to incentivize the growth of Data Consume Volume (DCV) in the Ocean ecosystem. These programs operate similarly to DeFi liquidity mining.
Predictor farming has two sub-streams: one for OCEAN and another for ROSE. Any given round of data farming lasts for a week, and predictions with the lowest error are paid prizes from the allocated resources pool.
In September, Ocean announced that Predictoor was only possible due to Oasis Sapphire’s privacy features, in order to protect the integrity of its data and its users. Predictoor feed contracts are deployed to the Oasis Sapphire protocol, data are kept private end to end via Sapphire, and only when preexisting conditions are met does a feed share data with another party. Prediction data is then passed through to the appropriate parties when a prediction made by template bots or traders is met or fails.
“The Oasis community sees Ocean’s Predictoor as a massive validation of the ease and importance of using tools like Sapphire for robust data privacy in Web3,” said Matej Janez, Business Development Lead at the Oasis Foundation. “We’re excited to allocate resources to support the Predictoor data farming incentives program, and we look forward to watching the use and development of Predictoor continue to grow.”
Get started using Predictoor feeds on Ocean.