Genesis League Sports Platform, powered by The Invennium Corporation, a 100% subsidiary of @Splinterlands, is thrilled to unveil the prediction market, Prime Pick, on GLS Platform.
About Genesis League Sports:
GLS is a blockchain-based, play2earn gaming platform and ecosystem specifically designed for sports-related games and NFTs. It will host an ever-growing catalog of games across a plethora of sports types, as well as partnerships with major sports leagues and organizations around the globe.
Whitepaper: https://whitepaper.genesisleaguesports.com/
About Prime Pick:
PrimePick is an automated sports prediction market powered by a dual-token system — POWER (fuel token) and GLX (reward token). Players burn POWER to buy prediction shares on game outcomes. When the event resolves, each winning share pays exactly 1 GLX.
"Jump into PrimePick, the ultimate sports voting app that turns your passion for the game into prime rewards! Whether you’re a die-hard fan or a strategic thinker, PrimePick lets you prove your prowess in the world of sports prediction."
Prices adjust dynamically based on demand: the more people backing one side, the higher its share price. This market-maker model removes the need for fixed odds and lets user sentiment directly shape prices.
An equilibrium mechanism maintains stability between POWER supply and GLX payouts. The system targets a 100 : 1 burn-to-reward ratio [This is subject to design changes before release] , automatically increasing or decreasing POWER costs as supply fluctuates.
All POWER used is permanently burned, making the token deflationary and aligning long-term value with platform growth.
Key Mechanics
- Burn POWER → Buy Shares
- Win = Receive GLX (1 per share)
- Prices move with demand
- Burn rate auto-adjusts (25 – 500 POWER : 1 GLX)
- 1 % fee funds maintenance and reserves
- Capacity limits ensure payout solvency
FAQs
Q: What determines share prices?
A: Prices rise when more users buy a given outcome and fall when demand decreases.
Q: Why might I get fewer or more shares than quoted?
A: Shares are calculated at execution time (10–30 seconds after burn). Market movement during that window changes the price.
Q: What happens to burned POWER?
A: It’s permanently removed from circulation, creating a deflationary effect.
Q: How much can the burn rate vary?
A: Between 25 POWER : 1 GLX (minimum) and 500 POWER : 1 GLX (maximum), with a target of 100 : 1.
Q: ** Can I sell shares before the match ends?**
A: No. Shares are held until market resolution.
Q: What ensures the system can always pay winners?
A: Only 72 % of the total GLX reward pool is ever at risk, leaving reserves for all payouts.
Proposal
Prime Pick is requesting 50M GLX tokens for 5 years from the GLS DAO (@gls.dao) to support rewards in game.
All users staking GLX tokens are required to vote for the proposal in the below poll. Voting will close after 7 days of post being live. In order for proposal to pass, atleast 10% of GLX stakers need to vote on the poll, and 67% in favour of the proposal.
I thought the project had already been shelved LOL
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