Unlocking the Power of Decentralized Oracles and Forecasting

Architecture and Features

OptionRoom is a user-governed oracle and forecast protocol that enables users to carry out transactions, predict outcomes of events, and exercise their voting powers on the blockchain. Its architecture is built on Polkadot, with a dual-token model that consists of ROOM and COURT tokens.

The protocol’s unique features include:

• User-Governed Oracles: Users can create oracle requests on the blockchain, which are solved by other users. This creates a system for increased peer-to-peer interaction and rewards user participation.
• Forecast Protocol: Users can create smart contracts on Polkadot to predict the outcome of real-world events. This feature allows for event derivatives that are linked to real-world events by governance consensus.
• Dual Token Model: ROOM tokens are used for utility, while COURT tokens are used for governance and voting power.
• Governance Staking and Authenticity Score: Users can stake COURT tokens to increase their authenticity score, which helps validate blockchain transactions.

Oracle-as-a-Service (OaaS)

OptionRoom’s OaaS feature provides a trusted third-party data source that brings off-chain data on-chain. This allows users to speculate on an unlimited number of markets, introducing a more human-based approach to market activity. OaaS also delivers external data to blockchain smart contracts, enabling users to make informed decisions.

pragma solidity ^0.8.0;

contract Oracle {
    function getOffChainData() public view returns (bytes32) {
        // Simulate getting data from an off-chain source
        return keccak256("off-chain-data");
    }
}

Forecast Protocol

The forecast protocol enables users to create smart contracts on Polkadot to predict the outcome of real-world events. This feature allows for event derivatives that are linked to real-world events by governance consensus. The protocol requires users to input a string option (“yes” or “no”) for each answer, as well as a market expiry date and lock timer.

pragma solidity ^0.8.0;

contract Forecast {
    function createMarket(string memory _question, uint256 _expiryDate, uint256 _lockTimer) public {
        // Create a new market for the given question
        Market market = new Market(_question, _expiryDate, _lockTimer);
    }

    function predictOutcome(Market _market, string memory _answer) public {
        // Predict the outcome of the given market
        _market.predictOutcome(_answer);
    }
}

contract Market {
    string public question;
    uint256 public expiryDate;
    uint256 public lockTimer;

    constructor(string memory _question, uint256 _expiryDate, uint256 _lockTimer) public {
        question = _question;
        expiryDate = _expiryDate;
        lockTimer = _lockTimer;
    }

    function predictOutcome(string memory _answer) public {
        // Predict the outcome of the market
    }
}

Potential Future Benefits

OptionRoom’s OaaS feature has the potential to provide APIs for developers, allowing them to access subjective data across multiple chains. This could enable the creation of new use cases, such as decentralized hybrid protocols that minimize volatility in the cryptocurrency space.

Getting Started with OptionRoom

To get started with OptionRoom, users can buy ROOM tokens on exchange platforms like Gate.io, Pancake Swap, and Hotbit. COURT tokens can be acquired by staking ROOM tokens, and are used to exercise voting power. Users can also earn ROOM tokens by spending time using the forecast protocol and providing solutions on additional oracle requests.