echo markets

Prediction Markets on Bitcoin powered by Charms - Hard money makes honest markets inevitable
🏆 First Place Winner at the BOS Hackathon, Encode Club

[Andrew | Charms 🟠💎 @AThrouvalas]

Bitcoin is soon getting its very own prediction market.

It's called @echo_markets, and it's powered by Charms!💎

Echo Markets uses BTC as its native currency. Users create and settle markets, place bets denominated in sats, and win back more sats if their bet is correct.

This is real BTC on the Bitcoin chain. You don't need to wrap or onboard an L2 for access, since Charms enables smart contracts and programmatic asset issuance directly on the Bitcoin ledger.

On the smart contract side, Echo builds on the @CharmsDev team's existing progress with CAST: establishing a native Bitcoin orderbook DEX that can support partial fills.

An orderbook allows users on Echo to trade programmatically issued "YES" or "NO" charms tokens for each market. By depositing BTC into a market, users can mint equal amounts of YES and NO charms directly proportional to their deposit size.

At each market resolution, holders of either the YES or NO charms can burn their holdings for BTC in the betting pool, while the incorrect side's charms plunge to zero.

Markets can even be programmed with fee collection and congifurable trading fees.

This wasn't built by us, but by @ivanmolto - just a curious builders who dove deep into the Charms docs and got inspired. Echo Markets now has its own doumentation and is coming along nicely.

See its docs here: https://t.co/HXQNR6Ax2S
And the github: https://t.co/C4DbUYcTAQ

What other dapps will Charms inspire us to bring to Bitcoin?

[Andrew | Charms 🟠💎 @AThrouvalas]

BRO SUPPLY LEADERBOARD NOW AVAILABLE 🟠👑

Our @CharmsDev explorer is now ready to share.

🔗https://t.co/G5w6zb8jEF

You can see every Charms protocol transaction, all circulating charms on Bitcoin, and the supply distribution for each charm.

Right now, this primarily includes the BRO supply distribution. You can easily see every address holding BRO (over 3200!) and the share of the BRO supply held by each.

Keep in mind that our indexer is still a work in progress. Some data may not reflect accurately (yet).

I'm currently ranked around #686, though it's overestimating my holdings a bit.

Still, it's come a long way, and it is key infrastructure that will be used once Cast launches with BRO trading.

Use CTRL + F to search for your address under the holders tab.

Give it a try!

[echo markets @echo_markets]

Huge thanks to @BTC_OS, @CharmsDev, and @encodeclub for an incredible hackathon.
Honored to take home 1st Place 🏆
Hard money makes honest markets inevitable.
Great code makes winning inevitable⚡️
Now, back to building 🛠️
https://t.co/QZZs7rppCy

#Bitcoin #HackathonWinner #Build