Jonathan

Collecting strange ideas until one changes my life.

old account restricted.

[Jonathan @Jonathan6v3]

@Alex_Asher8 Congrats bro 🎉

[PYGROX @pygroxe]

https://t.co/5CEYc8VnRE

[Jonathan @Jonathan6v3]

@riftpetsxyz So where does the token comes in when rewards are in ansem ?

[Jonathan @Jonathan6v3]

@neo_officialll Boss this invalid.
Everything has it advantages and disadvantages starting school 5 doesn't mean they won't support APC,it all depends on the child and the family as well.

[Jonathan @Jonathan6v3]

@thovv_l Hello ,why nothing yet on reward distribution for bounty winners ?I was told to dm by sumiro but my messages where ignored what's going on ?

[Jonathan @Jonathan6v3]

@orithellama @francescoswiss Can I get the name pls ?

[Arbiter @arbitr_exe]

you can now track PnL on @nibblefun, see you in the trenches

[Jonathan @Jonathan6v3]

@twigin_0x Appreciate you bro 🙏

Glad the breakdown landed.

Can't wait to see yours bro and I'm already in your DMs to connect

[Jonathan @Jonathan6v3]

The weirdest thing about prediction markets?

Some of the most interesting ones never exist.

Not because they're bad ideas.

Not because nobody would trade them.

Something breaks long before that.

I didn't understand why... until I went down the PMM rabbit hole.

🧵

[Jonathan @Jonathan6v3]

@Iam_AbxSadiq 100% and that's the whole point.

[Jonathan @Jonathan6v3]

@AWWAL2094450 Fr bro
CLOBs need market makers so most ideas die.

PMM lets anyone launch a market and the crowd picks what goes far.

[Jonathan @Jonathan6v3]

far more communities can create markets around the questions they actually care about.

That's what stood out to me most about PMM.

@meleemarkets

[Jonathan @Jonathan6v3]

They've been short on a practical way for those ideas to become markets.

@meleemarkets is a permissionless prediction market platform on Solana where anyone can create a market on anything.

If markets no longer depend on dedicated market makers just to get started,

[Jonathan @Jonathan6v3]

useful counterparty liquidity can earn rewards through the PMM mechanism.

Different roles.

One market design.

I thought PMM was another pricing model.

I left thinking it was a different philosophy.

Prediction markets have never seemed short on ideas.

[Jonathan @Jonathan6v3]

The cool part is who this changes things for.

🚀 Creators can launch permissionless markets without waiting for a dedicated market maker.

📈 Traders don't face the same dilution problem that traditional parimutuels have.

🤝 Participants who provide ...

[Jonathan @Jonathan6v3]

without reducing that minimum settlement value if your outcome wins.

It keeps what made parimutuels useful...

while addressing the dilution problem that came with them.

[Jonathan @Jonathan6v3]

That's the moment Melee's PMM (Parimutuel Market Maker) finally clicked for me.

Instead of making early participants pay for the market's success, PMM records a *minimum-return floor* when they enter.

As more traders join, the market can keep growing...

[Jonathan @Jonathan6v3]

You'd think being early would feel rewarding...

But in a traditional parimutuel, your expected payout can actually shrink as more people pile in.

That's called the dilution problem.

The market gets healthier...

while your position gets worse.

[Jonathan @Jonathan6v3]

ideas don't have to wait for someone else to approve or bootstrap them.

I thought...

"Problem solved."

But there was still one catch.

Picture this.

You backed a market before anyone else.

Hours later it goes viral.

Thousands join.

[Jonathan @Jonathan6v3]

That's why many markets rely on professional market makers to get things started.

Then I found an older idea called a parimutuel.

Instead of waiting for a market maker, the first participant can start the market.

That's a huge step toward permissionless markets because new ...

[Jonathan @Jonathan6v3]

The answer surprised me.

Most prediction markets today use something called an order book (CLOB).

It matches buyers with sellers, so once a market is active, trading works really well.

But a brand new market has a different problem...

Who creates the first liquidity?