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OptionRoom: a user governed Oracle and Forecast Protocol

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Option Room is an innovative new DeFi project that will run on the Polkadot blockchain. It defines itself as an OaaS, or Oracle as a Service. Its use cases are indeed multiple since the project compares itself to several projects that have already been up and running for years such as: Augur, PolyMarket, Kleros and Synthetix. The latter is one of the most successful projects in the world, so Option Room’s ambitions seem to be really big.

Option Room in Summary

In contrast to the projects mentioned above, Option Room in its V2 version, which is coming soon, will run on Polkadot. There seems to be more and more hype about Polkadot lately, so some of this hype is spilling over into the whole ecosystem. Option Room can be described in a few key points as: 

Oracle as a Service: In this case, requests for Oracles are resolved through governance, i.e. the Option Room governance token holders.

Forecast created and managed by Users: Users can finally not only make predictions but also create new ones, connecting them to events that will happen in the real world. 

Double Token: The tokens in question will be two, one that will be used to manage the governance of the project and a second token that will be used as a utility token: $ROOM.

LP Mining: The ROOM token becomes a utility token and there are several incentives to hold it, as by liquidating or staking ROOM tokens you can get COURT tokens in return and actively participate in the governance of the project. DAOs are now the best solution and it seems that all serious crypto projects adopt this management system.

Self-sustainable: The project is well designed to be self-sustainable as there are buyback mechanisms and protocol fees that will help the protocol financially (not the founders, as they will not take anything from these fees). 

The fundamentals are strong and the team is not anonymous, so the project should be designed for the long term and the risks of the founders disappearing are very minimal. To end on a high note, the project token was launched on PolkaStarter and most of these projects have impressive performance, hence we can expect great things from both the project and their token.

The ROOM Token

The ROOM Token was created with a maximum supply of 100 million units. Here is the initial token distribution:

  • 11% was sold in the SEED phase at only 0.0182 cents per token. 20% of these tokens were unlocked during the TGE while the remainder will be unlocked daily starting in the third month.
  • 20% sold in Private Sale. In this case, the price was 0.035 cents per token. 25% of these tokens were unlocked during the TGE while the rest will start unlocking from the third month.
  • 2% Public Sale. The sale on PolkaStarter with tokens unlocked from day one. The price? Only 0.05 cents per token.
  • 38% for Protocol Rewards (right away). 
  • 10% for the Team, with tokens locked in for 1 year.
  • 14.67% for the Foundation and locked for 1 year.
  • 4.33% for liquidity on Uniswap (locked liquidity).

At the moment the price is about $2.5/$3, with a fully diluted market cap of about $250/$300 million. As you can see, presales are priced very differently from current prices and those who have been lucky to get into presale, seed or public sale have already made strong gains. Many of those who bought on PolkaStarter have already sold their tokens, so we should not see any more strong DIPs in the near future.

What’s special about these projects launched on PolkaStarter is that they all seem to be performing very well (apart from a few isolated cases), so we expect great things from Room as well, a project followed on Twitter by very popular influencers like EllioTrades, Ivan on Tech and so on!

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