NEWS RELEASE
June 18th, 2024
Lisbon, Portugal – Azuro, the premier onchain predictions layer, has unveiled a groundbreaking initiative aimed at nurturing the development of user-friendly onchain prediction applications, specifically targeting sports and entertainment events.
This strategic program signifies a closer collaboration between Azuro and the Polygon community, focusing on refining and enhancing the value proposition for entrepreneurs utilizing their combined infrastructure solutions. To kickstart this endeavor, Azuro has announced the launch of a grants program intended to support and encourage the creation of new applications utilizing Azuro on Polygon PoS.
By offering financial and technical assistance to developers, this initiative seeks to stimulate innovation and broaden the ecosystem of applications, propelling the next phase of growth in onchain prediction markets.
Developers will soon have the opportunity to submit their projects for consideration during an upcoming application stage. The program will distribute a total fund of $20,000 across two grant tiers: $2,000 for feature enhancements to existing apps and $4,000 for complex features or new dApps.
Projects will be assessed based on their potential to add value to both the Azuro and Polygon communities, considering factors such as well-defined development stages, technical specifications, time estimates, and a go-to-market strategy.
Building on a successful integration
This announcement represents a significant milestone in the enduring partnership between Azuro and the Polygon community, highlighting a shared vision for the future of prediction markets. Since integrating with Polygon PoS in February 2023, Azuro has emerged as a leader in revenue among Polygon applications, leveraging Polygon’s robust technology and seamless user experience to drive the growth of its prediction markets.
Azuro currently powers over 27 active applications that run onchain prediction markets, the majority of which are built using Azuro’s infrastructure on Polygon PoS. Transaction volumes have exceeded $360 million, with liquidity sourced from over 4,500 providers. The Azuro protocol’s distinctive liquidity pool design, advanced tooling, and oracle solutions enable applications to deploy without upfront investment or running costs, allowing developers to focus on user acquisition, engagement, and monetization.
Polygon PoS is a widely used network hosting thousands of dApps, processing over 200 million unique addresses, 3 million average daily transactions, and securing $5 billion in assets. Offering scalability and cost-efficiency, Polygon PoS boasts an average transaction cost of approximately $0.015, making it an ideal blockchain for Azuro and its burgeoning, user-centric prediction markets ecosystem, particularly prominent in the sports sector.
Applications connected to Azuro provide users with a significantly enhanced user experience compared to other on-chain options, offering a viable alternative to traditional online prediction operators. Polygon PoS’s low transaction fees and scalable throughput enable projects to expand efficiently. Its proof-of-stake architecture ensures costs are up to 10,000 times lower per transaction than Ethereum.
Furthermore, Polygon PoS’s EVM compatibility enhances development speed and efficiency, enabling developers to seamlessly deploy from Ethereum and leverage Ethereum network effects. The highly active and engaged developer community on Polygon PoS provides round-the-clock support and comprehensive documentation, simplifying the process of building on Polygon PoS.
About Azuro
Azuro is a leading onchain predictions layer that offers modular tooling, oracle, and liquidity solutions for EVM chains to host powerful prediction and gaming apps. With its unique infrastructure layer approach, Azuro makes on-chain predictions and gaming portable and composable, allowing anyone to engage and monetize users by building apps, integrations, and products quickly, permissionlessly, and with zero upfront or running costs.
For more information or press inquiries, please contact [email protected].
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Contact:
Azuro Team
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