- Summary:
- Polkadot has effectively "gamified" its governance following the move, and it incentivises DOT holders to participate in governance.
Polkassembly, the leading governance platform for Substrate-based blockchain communities, has announced an integration with Zeitgeist. As the leading Polkadot prediction market, Zeitgeist allows users to place bets on the outcome of events. These can range from relatively trivial matters to global news such as elections and sporting contests.
The direct integration of Zeitgeist into Polkassembly should add an additional incentive layer to governance decisions. Now, token-holders can not only vote on key decisions they have a vested interest in, but they can earn rewards for correctly predicting their outcome.
Game theory dictates that individuals will vote in favor of decisions that they support and against those they oppose. However, the introduction of Zeitgeist markets, accessible within Polkassembly, will add a frisson of excitement. It should also increase participation in Polkadot governance.
Governance, Gamified
According to Zeitgeist CEO Logan Saether, the integration “allows easy access to ongoing referenda, with an added feature for making predictions on the proposal’s outcome. We’re aiming for most of these markets to be denominated in DOT, facilitating participation for the Polkadot community.”
By combining Polkassembly’s community engagement with Zeitgeist’s prediction market mechanics, there will be a dynamic way to interact with and benefit from Polkadot governance. When there’s a financial incentive to see specific governance proposals pass, token-holders are much more inclined to participate – both in the vote itself and the corresponding prediction market.
Polkassembly provides a universal portal for participating in Substrate governance and gaining an insight into the sort of ideas being supported within the Polkadot community. It supports treasury proposals and provides analytics concerning parachains, bounties, discussions, and governance reputations.
Predicting the Zeitgeist
Zeitgeist is the leading Polkadot prediction market. While the Polkassembly integration, which is set to be completed soon, will support parachain governance, Zeitgeist doesn’t just provide markets for blockchain events. More than 350 markets have been created to date, with hundreds of users racking up $50K in trading volume.
Current markets include one for Polkassembly Referendum 385, which addresses a community memecoin marketing proposal. So far, the Zeitgeist market is 59% for it passing, with over 1,100 DOT wagered on its outcome. Elsewhere there are markets on who will win football’s Champions League, the future of Sam Altman, and the likelihood of a volcanic eruption in the Canary Islands.
Polkadot user Giotto De Filippi recently took to X to promote a live market regarding Polkassembly Proposal 385. This is to do with the prospect that the Lunar agency will fulfill $DED marketing. De Filippi tweeted that “The implied probability is that the delivery is 90% likely. If you’re a critic of Lunar I encourage you to bet against and take the money.”
Hardcore Zeitgeist users compete to top the leaderboard, which shows a running total for the year and their net profit. The top trader has earned $937 from 10 markets, while the second entrant has participated in 26 markets, pocketing $504. The integration with Polkassembly won’t just amplify interest in Polkadot governance: it should also give Zeitgeist a boost, bringing more liquidity and inspiring new markets.