💵Fees & Incentives

Groovy Market does not charge users to create a market, making it accessible for anyone interested in setting up a prediction market. However, to prevent spam and ensure fair participation, a small amount of USDC may be required as an initial deposit. This requirement is designed to maintain the integrity of the platform and encourage high-quality market creation.

Transaction Fees

To provide a seamless user experience, all blockchain transaction fees on Sei Network are fully sponsored by Groovy Market. This means that users do not need to worry about gas fees when participating in markets or creating them, making the process smooth and cost-effective.

Market Creator Earnings

Market creators have the opportunity to earn rewards based on the activity in the markets they create. Specifically, they receive 1% of the total trading volume generated within their markets. These earnings are credited to the market creator's account after the market reaches its resolution.

Payouts & Prize Distribution

In addition to market creation rewards, prizes for correct predictions are also credited to user accounts after the resolution of a market. This ensures that participants receive their winnings efficiently and transparently. Furthermore, referral program rewards must be manually claimed by users at the conclusion of each campaign. For example, participants in March Chadness will be able to claim their referral rewards once the competition ends.

Potential Future Incentives

Looking ahead, Groovy Market may introduce additional incentives based on user engagement. Factors such as participation in referral programs, the volume traded in user-created markets, and the number of prediction positions purchased may contribute to potential rewards. While a token airdrop could be considered in the future, it is important to note that there is no confirmed token, and users should not expect one. Any incentives related to future token distribution remain purely speculative at this stage.