Wallfair Launching Its Event-Trading Platform on Polygon
Wallfair is thrilled to announce its integration with Polygon, a full-stack scaling solution for Ethereum applications, for its event-trading platform.
Wallfair is an event-trading platform that allows content creators to stream their live feeds and create live events for their audience. A key aspect of speculation markets is their ability to accept and settle bets as they arrive. The slightest of the delays could lead to significant losses for the players. And that’s where Polygon comes in as a solution to the pertaining delays and transaction confirmations on the Ethereum network.
Why Wallfair is integrating with Polygon
Polygon provides a comprehensive set of tools for scaling Ethereum network and infrastructure development. Polygon SDK, a modular framework, allows applications to leverage higher transaction throughput with minimal fees without sacrificing the security of the Ethereum blockchain when used as layer-2 chains.
Wallfair is building an event-trading platform for content creators, which means there will be hundreds and even thousands of bets in every single event. A high transaction volume makes Polygon the ideal choice for Wallfair users. And to start with the benefits, lower transaction fees and shorter confirmation times represent only the tip of the iceberg.
- Meta-transactions: Wallfair will subsidise gas costs for new, verified users through gas stipends. Additionally, Wallfair will sponsor a portion of high-value transactions by reverting a fraction of PLP yield to the ‘onboarding pool.’ Polygon’s meta-transactions will do the ‘heavy lifting’ throughout this process.
- Native fiat-on-ramp and state transfer: Wallfair aims to provide a seamless experience to both crypto and fiat users, including selling or purchasing EVNT tokens directly on Wallfair and tracking the price feed of any Ethereum swap pool on the mainnet. Wallfair will utilise native fiat-on-ramp and state transfer features to execute these transactions.
- Service infrastructure: Polygon has an entire ecosystem of services and partnerships that will play a critical role in the development of Wallfair platform. Wallfair will use oracles available via Matic network to fetch real-time data along with its indexing module utilised to update the current state of the blockchain. Wallfair will implement Polygon token bridge to provide EVNT token holders with an option to participate in the protocol yield.
Polygon provides the infrastructure required for developing highly scalable applications, and given the instant nature of Wallfair, Polygon is the ideal solution for Wallfair’s prediction markets.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc., and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ transactions, and ~6M+ daily transactions.
Wallfair is a social event trading platform that democratizes the creative economy, enabling real-time speculation on live events using an in-game token. With a distinct focus on socially engaging, fast-paced and immersive experiences, Wallfair takes watching live events to the next level by enabling the audience to seamlessly trade and profit from speculation markets. In essence, our ecosystem is designed to give creators more ways to monetize their content while increasing their audience and community engagement.