Introduction
Last updated
Last updated
MetaOracle works in four stages: Market Creation, Trading, Reporting, and Settlement. Anyone can create one or more markets on the basis of any event. Once a market is created, all users are free to trade on any market. After an event has happened, the result of the event is determined by oracle. Once the result is determined, users can receive their rewards.
MetaOracle has a governance token, MOT. Market Creators and Reporters are required to stake the MOT when reporting the results of markets created on the MetaOracle platform. Reporters report markets by staking a possible result of their MOT on the market. In this way, the Reporter reports that the reported result corresponds to the actual result of the event to which the market relates. For the purpose of determining the market result, the consensus of the market reporter is called the " Truth ". If a Reporter's report of a market result is inconsistent with the consensus reached by other Reporter(s), MetaOracle reallocates the MOT staked by the Reporter on the non-consensus result to the Reporter(s) who are in agreement with the consensus.
By holding the MOT and participating in the accurate reporting of event results, token holders are entitled to receive reporting rewards on the platform. The more the MOT holder owns and reports correctly, the more they will be rewarded for their work in keeping the platform secure.
