Competitors — How are we different?
Without competition, it’ll make our lives easier, probably boring because we’ll be forced to doing something repeatedly. If it’s not broken, why fix it right?
Fortunately, in most things in the world, and especially in the world of cryptocurrency, competition is ever-present. New kinds of stuff are flying out of different garages every day.
So, we’ve had some initial announcements about our Robinos IDO. One thing that I’m getting a lot is the comparison of Robinos to other existing products out there. So, let’s dive into our competition today shall we.
Chiliz — $CHZ
When we mentioned our ‘represented’ tokens to be used on prediction platforms, we very often get associated with Chiliz, and the countless fan tokens they’ve already created for fans of their favorite established football clubs.
Well, we’re very different from Chiliz and the ‘represented’ tokens are definitely of different utility functions of the fan tokens.
- ‘Represented’ Tokens do not give you any fan interactions with your favorite teams, but we give everyone something more practical, rewards at the end of the season when a team does well, and the ability to trade in and out of a ‘represented’ token during the season/competition.
- Chiliz fan tokens were a good way for clubs to raise additional revenue, especially when sporting clubs around the world were severely impacted by the pandemic. However, the fan tokens for each club were designed for fans, and perhaps, can be used by fans to take part in polls, or even some major decisions involving the club in the future.
And that's the main difference between Robinos and Chiliz.
Augur — $REP
If we’re talking about prediction platforms, Augur will be one huge name that we need to bring up. There are slightly more similarities between Augur and Robinos, but ultimately, we’re still different.
Augur uses the exchange idealogy, coupled with smart contracts for prediction events. Robinos leverages existing DEXs and tokenizes the trading options available to make things easier and more familiar to potential users. Tokens can be seen as a ticket to your selections, and the tickets to be tradeable with others who might see a value to the ticket that you’re holding at the moment.
Augur also possesses a more futuristic view of the decentralized prediction platform. However, futuristic views might not be adopted if nobody uses them. And this is where we want to do things differently in Robinos.
By adopting a more trade-friendly approach, rather than a sportsbook approach, we’ll get to stretch the timeline of each prediction event, allowing room for errors for the teams, and ups and downs of a season. Traders will be allowed to get in and out of positions effectively across a longer timeframe. So instead of placing your wager on 1 game that decides if you lose your money or doubles your money, Robinos allows you to assess multiple teams across the season, buying into the next big run from your favorite teams, or selling the slump before it actually happens.
Other competitors
Aside from Augur, we have other smaller ones as well, such as Omen.eth, Polymarket.
But one thing common with the competition is, they’re making their prediction platform into something like a sportsbook, binary options platform, or a casino that wages on the outcomes of events. Make no mistake here, this is what a prediction platform is supposed to be.
But with the current way how prediction platforms are set up, non-crypto currency users will not be coming in anytime soon, simply because there are better existing options out there even without using cryptocurrency. We want to change that in Robinos, and we will.
If you’re interested in knowing more about us, you know where to find us! Drop us some questions as well, I’d love to fill up the Medium spaces on contents that will help the community understand more about Robinos!
