An Introduction to OptionRoom

OptionRoom is a user-operated Oracle and Prediction protocol built on PolkaDot. It’s basically a forecasting protocol . OptionRoom has the ability to serve OaaS — Oracle as a service where oracle requests Resolved by governance. Oracle requests have a fee and the cost of a solution incentive paid in ROOM. The incentive which is being paid in the room is a reward to the solver. Users can also create and participate in the event derivatives which are pegged to the real world outcomes by governance consensus . Option Room protocol also has a buyback mechanism. Each market settlement has a fee of a percentage of the winnings from which a part is used to buyback ROOM tokens from the open market. Withdrawal fees and other fees are also included in this buyback mechanism.

OptionRoom has introduced the dual token mechanism.

1. ROOM
   ROOM is the utility token in the ecosystem . These tokens are rewarded to protocol participants.
2. COURT
   COURT is the governance token in the ecosystem. These tokens can be obtained by providing liquidity /staking ROOM tokens . COURT tokens are used as a voting power. They have a score associated with them and the score is determined by for how long they have been staked.

Note : Honest people are always rewarded by the ROOM tokens whereas dishonest people are punished by the token slashing and authenticity score reset.

Protocol Features

Protocol features have been perfectly described on the project’s website . Attaching a screenshot from the project website for the reference

Token Summary

Great Minds Behind OptionRoom

In the blockchain space, it is quite hard to find the team with so much expertise in academic research, global scale engineering, and long term company building. The members have contributed to top tech companies of the world. So the team is more capable of achieving the vision which the project wishes to accomplish. Let’s look at the credentials of some of the team members to understand their level of expertise and also we can get the idea of their knowledge and skills:

1. Marsel Adawi (CEO) : Experienced Data Management Consultant with a demonstrated history of working in the higher education industry. Skilled in PHP, Linux System Administration, jQuery, Public Speaking, and Management. Strong information technology professional with a Bachelor’s Degree focused in Computer Science from Birzeit University.
2. Wajed Afaneh (CTO) : Senior software engineer with +10 years of experience. Skills include software development, analytical thinking, creative problem-solving, team leading, and management. Have experience in the following areas: System design & Architecture, OOP, Functional and Technical specifications, design patterns, Agile (Scrum, Kanban), NodeJS, ReactJS, Angular, VueJS, Python, Java, Microservices, Amazon AWS, Google Cloud, REST, SQL, OAuth2 … etc. Work on plenty of projects for several multi-international companies: Google, Netflix, Harri, Via App, Highcon, Argus Control Systems, OneStopParcking & Publicis.
3. Tareq Doufish (Solidity Developer/Devops Engineer): Senior developer and tech lead with more than 15 years of experience. Co-founded PinchPoint, a mobile gaming company for four years. Previous working at the World Bank.
4. Najjar Nasser(Solidity Developer/Devops Engineer) : Senior team lead with more than 18 years of experience in Software development. Najjar Nasser has worked as a developer for MNCs like INTEL, Melianox, Microsoft, and others.

The project also has top notch advisors which only authenticates the credibility and ability to the team to achieve what they are promising . Below are the some of the advisors :

• Jack Lu: Managing Director, NGC Ventures. Co-founder of Bounce Finance

• Chris Tom: Founding Partner, NetZero Capital

Roadmap

The team is planning to unlock the ROOM tokens in January 2021 . After the unlock , ROOM tokens will become tradable .The launch of COURT tokens is planned in March 2021. Protocol launch is scheduled to be in early Q2 2021 on Etherium in addition to smart contract audits and reward reduction phase. OptionRoom is planned to be ported to Polkadot in Q3/Q4 2021 depending on the timeline of synthetic asset solutions in the Polkadot ecosystem.

Where does this projects stands in comparison to its competitor
The project is pretty much undervalued if you compare them to their competitors . Also , the feature set is pretty advanced in comparison to its competitors .

OptionRoom IDO

We have exciting news for the community . OptionRoom has announced their IDO .
There will be 2 IDOs on Bouncer and Polkastarter platform . The price for the ROOM token is set to 5 cents . The team is planning to raise a total of 100K USD . Users can participate in both platform IDOs . The users need to do KYC once they are selected .

BOUNCER IDO DETAILS :

For complete details , please visit the below link .

https://optionroom.medium.com/introducing-optionroom-bounce-certified-ido-whitelist-905830c17989

POLKASTARTER IDO DETAILS :

For complete details , please visit the below link .
https://optionroom.medium.com/introducing-optionroom-polkastarter-ido-whitelist-aaaf417814de

Resources to learn more about OptionRoom

Telegram : https://t.me/optionroomchatofficial

Twitter: https://twitter.com/option_room

Website : https://www.optionroom.finance/