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Information about optionroom

OptionRoom is a cryptocurrency project that operates on the Polkadot network and functions as a governed oracle and forecast protocol. The main goal of OptionRoom is to establish a scalable protocol that offers various applications, including oracle services and limitless event derivatives. The protocol possesses several distinctive features, such as its ability to operate as an "Oracle as a Service" platform, where oracle requests are addressed through community governance. Additionally, OptionRoom enables users to create and participate in event derivatives that are linked to real-world outcomes through consensus-based governance.

The protocol employs a dual token model, with ROOM serving as the utility token for OptionRoom and COURT functioning as the governance token. Participants can stake their COURT tokens to increase their authenticity score, which grants them more voting power. Those who engage honestly in governance activities are rewarded with ROOM tokens, while dishonest actors are penalized. Furthermore, the governance token COURT can only be obtained by providing liquidity or staking the utility token ROOM, in a process known as LP mining.

OptionRoom maintains a self-sustaining and community-driven structure, as protocol fees fund a buyback mechanism and the founders do not receive any percentage of these fees. In terms of infrastructure, OptionRoom is built on the Polkadot network, and there are plans to develop Version 2 of the protocol on this platform. The project also encourages user participation by offering incentives to protocol and governance participants. Pool creators, for instance, are rewarded with a portion of the pool winnings, which motivates them to promote their respective pools. Moreover, excess fees generated by the protocol are diverted to a reward buffer pool, which is utilized to reduce inflation and provide further protocol rewards. Finally, OptionRoom's architecture supports a wide range of use cases, including oracle services, prediction markets, decentralized polls, dispute resolution, decentralized surveys, and curated lists.

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