Delphi
Catalyze information flow.
General DetailsPrediction market platforms based on smart-contract architectures possess undeniable potential. However, we have identified numerous significant (and possibly fatal) shortcomings in the approaches taken by previous initiatives on this front, which inspired us to design and build a protocol that addresses the biggest technical and economic risks of these ancestor frameworks. Delphi represents the next step in the evolution of prediction markets on Ethereum. Accompanying the design-level improvements that we have implemented, we have incorporated the components which were appropriately handled by our predecessors and built upon the foundation that they represent. We have also made a deliberate effort to maintain backwards-compatibility with the Gnosis platform to the maximum extent possible, including data-structure compliance. More details can be found in our whitepaper.
Whitepaper: https://delphi.markets/whitepaper.pdfWebsite: https://delphi.marketsFair Auction Contract Address: 0xFE2F0a2d25639366b19E4105068720837277E70F
Token DetailsToken Name | Symbol | Information |
DEL | ∇ | Generator token (locked to generate Φ); price floats on open market (allows platform value speculation and demand-driven profit); supply fixed at 10M (zero inflation) |
PHI | Φ | Used to pay fees, subsidies, and facilitate market-trading (on upper layers of the Delphi stack); price pegged to $1 (to allow predictable-cost usage); can be generated via locking ∇ tokens (supply is not fixed) |
Total
∇ Supply: 10000000
Auction DetailsStandard AuctionDates: July 15, 12:00 PM UTC – July 30, 12:00 PM UTC (1500120000 – 1501416000)
Percentage of
∇ Auctioned: 75%
Total
∇ Auctioned: 7500000
Cap (Maximum): 250000 ETH
Distribution: Total tokens received for any given bidder will be in exact proportion with the ratio of the individual investment made relative to the total investment raised. The auction will be automated by a FairAuction contract available for public review.
Referral ProgramPercentage of
∇ Awarded: 20%
Total
∇ Awarded: 2000000
To encourage wider token distribution and in the effort to incentivize the market to achieve this in a straightforward manner, we have decided to allocate 20% of the total supply of DEL to the community members who help to spread the message and garner more participation in the Delphi crowdsale. The program follows a simple formula and structure: auction bid transactions are allowed to include referral identifiers (any address that has already bid in the auction is eligible, or alternatively an identifying code can be established with Delphi at any time before or during the standard auction), and at the conclusion of the auction, the referral-reward tokens are allocated amongst the referral-identified participants proportionally to how much was invested via their respective identifiers. As an example, if a cumulative total of 10,000 ETH was associated with referral identifiers in the auction, and your individual referral identifier is associated with 10 ETH of contributions, you would be entitled to 1/1000th of the total referral program rewards, or 2000
∇.
We believe that the overcomplicated Dutch-auction approach taken by Gnosis not only served to confuse the market, but resulted in a wild economic imbalance because of its reliance on shaky game-theoretical assumptions. This has grave implications for the platform as a whole, and has at very minimum resulted in a centralized, single point-of-failure for the system. In an effort to avoid such a similar fate for Delphi, we have done our best to simplify the process into a much more fair and understandable auction.
Following in the footsteps of Augur and Gnosis, and incorporating improvements over both models, Delphi aims to fulfill the promise of prediction markets. We will open the pathways that allow and encourage information to flow freely, make it in everyone’s best interest to express and communicate the truth, and grant society newfound powers of prescience. We look forward to changing the world with you.
[UPDATES]
Bounty Program:Interested in our Bounty Program? Check out our
Delphi Markets Crowdsale Bounty Rewards Program post on Bitcoin Talk
Medium:Want more information on our team and vision? Keep up with our Medium for our most recently published articles.
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Delphi: Our Team, Our Values-
A Brief Tour of the Fair Auction Process-
Delphi Markets Crowdsale Bounty Rewards Program-
The Delphi Community -
We're Sorry-
On Augur-
A Quick Glance at Delphy.org-
The Fair Auction (Delphi's ICO)-
Wealth Distribution and Why it Matters-
The Oracle Problem-
The Theme of Things to Come