Truemarkets Launches as a Decentralized Prediction Market Platform on Base Layer 2

Truemarkets (TRUE), a new decentralized prediction market platform, has officially launched on the Base Layer 2 blockchain. Truemarkets mirrors the concept of Polymarket by aggregating real-time headlines and offering users the opportunity to bet on the outcomes of various events across topics like politics, pop culture, and more. This platform integrates real-world data into the on-chain ecosystem, allowing users to reflect public sentiment through financial predictions.

How Truemarkets Works

Truemarkets enables users to participate in prediction markets where they can trade “YES” and “NO” tokens based on the outcomes of different scenarios. For example, users can bet on questions like, Will Solana (SOL) ETFs be approved by the end of 2025? The price of these tokens fluctuates in real-time, depending on the market’s sentiment about the likelihood of each outcome.

Participants can buy or sell these tokens, adjusting the price according to their predictions. After the event happens, users can redeem tokens corresponding to the correct answer for $1 each. Tokens linked to the wrong answer become worthless, incentivizing accurate predictions and promoting active market participation.

Funding and Vitalik Buterin’s Involvement

The long-awaited launch of Truemarkets comes after the company successfully raised $4.03 million through a public NFT sale. A total of 15,071 Oracle Patron NFTs were sold at a price of 0.08 ETH each. These NFTs are a significant part of Truemarkets’ ecosystem. Notably, Ethereum co-founder Vitalik Buterin participated in the sale, purchasing 400 NFTs for 32 ETH.

In recognition of their early support, Truemarkets will allocate 40.03% of its total supply of 100 million TRUE tokens to Oracle Patron NFT holders via an upcoming airdrop. The TRUE token will serve as the platform's governance token, allowing holders to participate in decision-making processes for the platform’s future development.

What’s Next for Truemarkets?

The official launch of Truemarkets marks the beginning of its entry into the rapidly growing space of decentralized prediction markets. With a focus on decentralization and transparency, Truemarkets plans to offer a seamless and engaging experience for users interested in making predictions about the future of various industries and global events.

By combining blockchain technology with real-world events, Truemarkets presents a new and exciting way to participate in forecasting, allowing users to profit from accurately predicting outcomes while contributing to a more decentralized decision-making process.

As the platform grows, Truemarkets aims to further develop its features and expand its community of participants. With its decentralized nature, it seeks to offer an alternative to traditional prediction markets, empowering individuals to make their voices heard on the global stage.