FAQ

What is Forecastory?

Forecastory is a peer-to-peer prediction market protocol on Ethereum. You can bet on probabilities of future events, and you get a payout if your predictions were correct. If you could predict the future correctly earlier than other market participants, you get rewarded more.

What is a prediction market?

A prediction market is a derivative market that exchanges the options for a particular future event. As a prophet, you can bet on the outcome option that you believe most likely to happen. If you could predict the future correctly, you can get dividends. As a result of trading, the probability of an event is aggregated. This is the magic of a prediction market's mechanism.

How does Forecastory work?

Forecasotory's contracts are deployed to Ethereum. If you are new to Forecastory and want to get started, check Tutorial.
You can learn more about the rules of Forecastory on Rules and Whitepaper.

Is there any example on how a market works?

You can check the working markets or you can check a blog post on how an example market works.

How can I make a profit?

You can make a profit when 1)you betted on an option and that became reality 2)you bet on an option and sell your share after more funds betted on that option.

If the probability of a market is different from that of you think, what should you do?

You can take an arbitrage opportunity by 1) buying an option that has a lower probability than that of you believe, or 2) selling your option that shows higher probabilities than that of you believe.

How bonding curve works in Forecastory?

Every option in a market has the same bonding curve settings.
The price of each option token is defined as bonding curve and
price rises as more token issued from an option.

Can I make a profit while a bonding curve incentivizes early market participants?

Definitely yes! you can make a profit if the payout exceeds the subsidy to earlier market participants.

How is forecastory different from other prediction markets?

One of Forecastory's core features is its mechanism.
Forecastory invented a new mechanism that solves the problem of low liquidity for each market. The mechanism is different from the order book based system or AMM system like Uniswap. You can learn more on Whitepaper.

Can I set an arbitrary oracle address?

You cannot set an arbitrary oracle address from Forecastory UI at this moment. The default oracle is set to Reality.eth (https://reality.eth.link/app/)

Where can I access Forecastory?

Forecastory UI is available through

Mainnet:https://app.forecastory.com/
Rinkeby:https://rinkeby.forecastory.com/

Where can I get assets for Forecastory?

Forecastory currently accepts DAI.

You can get DAI from MakerDAO or any exchange services

You can get Rinkeby faucets (fake tokens) for the Rinkeby test net
ETH faucet. For Rinkeby DAI, you can get it from Compound Rinkeby version or get faucet via the account page of Forecastory UI. You can claim 100DAI faucet once from your account.

Can I integrate Forecastory to my app?

Yes. For more details, ping @kohshiba on Discord

What are the risks of using Forecastory?

You might lose your stake in markets.
Also, you should be aware that there might be bugs in the
contracts.

Will there be token distribution?

There might be some token distribution to Forecastory's users. Stay tuned for updates.

Where can I contact?

Ping @kohshiba on Discord