New GnosisDao Bets on ‘Futarchy,’ a Prediction-Market Governance Model

Gnosis shaped its DAO based on the concept of futarchy. Gnosis, an Ethereum-based platform that facilitates betting on events and other metrics, revealed plans for its own Decentralized Autonomous Organization, or DAO, called GnosisDAO.“This will have the effect of progressively decentralizing Gnosis as a project using a native governance framework powered by their token economy, bringing governance to the coming internet of value,” according to a Monday public statement sent to Cointelegraph. In addition to its prediction markets wing, Gnosis has a multisignature, or multisig,....

Sixteen years after Robin Hanson published a seminal paper on using prediction markets to inform governance decisions, his ideas have found a home in the Ethereum community. The associate professor of economics at George Mason University and researcher at Oxford's Future of Humanity Institute first coined the term "Futarchy" to describe a new form of governance that uses data from prediction markets to provide input. Since the article's original publication, Hanson has traveled the world teaching classes, pitching businesses and making appearances at conferences about Futarchy.....

"You say prediction market and people are like 'What's that?' - it doesn't sound that important or lucrative or interesting." That's Jeremy Gardner, best known as the director of the College Cryptocurrency Network, talking about the first reactions some may have to his latest project, Augur, the decentralized, blockchain-based prediction market founded by Jack Peterson and set to launch a token crowdsale this spring. Common perceptions aside, Gardner and core developer Joey Krug are out to prove that a platform that allows participants to bet on the outcome of real-world events can be a....

Augur, the decentralized prediction market, launched its alpha version on Tuesday. Augur users can wager on the future — whether on the outcome of a soccer match or on an election. If they guess correctly, they win money, if they don’t they lose. By aggregating these bets in advance of an outcome, the idea is that users can make accurate predictions about the future, by tapping diverse opinions. Lead Developer Joey Krug said: “This is the culmination of eight months of work since we started writing Augur, and we're glad to finally release something people can play around with and give us....

Prediction markets are being dominated by automated AI agents and high-frequency trading bots, which extracted around $40 million from market inefficiencies within a single month. Related Reading: Crypto Donations Face Ban As Canada Steps Up Election Security Measures These digital traders look for news of global unrest and respond in milliseconds, often moving the price […]