The Bodhi team launched the independent blockchain platform, Naka Chain, in January 2019. The NBOT is the Bodhi token on Naka, derived from the merger of two previous projects by the Bodhi team: Bodhi Token (BOT) and Bodhi On Ethereum (BOE), at ratios of 1 BOT = 0.59 NBOT and 1 BOE = 0.41 NBOT respectively.
The Bodhi team has built a DeFi ecosystem around NBOT, introducing a new DeFi prediction market product: a synthetic asset exchange at deerfi.com, allowing users to trade financial derivatives denominated in cryptocurrency. Initially supporting NBOT (ERC20), holders of NBOT can go long on BTC and ETH using Deerfi Long, with no risk of forced liquidation due to crypto-denominated pricing. In addition to going long, NBOT holders can also join the liquidity pool to provide liquidity for Deerfi Long. Joining the liquidity pool will enable them to earn transaction fee revenues from the use of the Deerfi Long platform.

Project Rights

1) Right to Initiate Arbitration and Compensation. Holders of BOT have the right to dispute the results of prediction events and initiate arbitration to receive corresponding compensation. Before initiating an arbitration request, BOT holders must lock a portion of their BOT as collateral. If the arbitration result favors the arbitrator, they are entitled to receive a portion of the opposing partys BOT as compensation.
2) Right to Vote in Arbitration and Rewards. BOT holders have the right to participate in arbitration voting for disputed prediction events and receive corresponding rewards. Before participating in arbitration voting, BOT holders must lock a portion of their BOT as collateral. If the vote aligns with the final result, BOT holders are entitled to receive a portion of the opposing partys BOT as a reward. Additionally, BOT holders can exercise their voting rights to forcibly close illegal and malicious prediction events.
By definition, BOT is a functional token that can only be used on the Bodhi platform. Apart from the right to use BOT as a means of interacting on the platform, ownership of BOT does not confer any explicit or implied rights.
BOT is a non-refundable functional token and does not represent any shares, participation, rights, ownership, or interest in the foundation or any other company, enterprise, or operator. It does not guarantee any income, costs, profits, or investment returns to token holders. BOT is not a security within Singapore or any relevant jurisdiction.
As part of the operation of the Bodhi prediction market, BOT will be consumed as a service fee (for information intermediaries Oracles) or as a transaction fee (paid to the Bodhi platform). If a secondary market or exchange for trading BOT is developed, its operation will be entirely independent of the foundation (or its affiliates), the sale of BOT, and the Bodhi platform.

Use Cases

Financial Instruments
Traditional financial market prediction tools suffer from many shortcomings: high intermediary fees, professional requirements, poor scalability, limited expression capabilities, inadequate accuracy, and inefficiency. Bodhis prediction market stands out from these financial instruments by providing more nuanced and detailed expressions of economic events, enabling clearer assessments of value and risks at both macroeconomic and microeconomic levels. It reduces intermediary fees, eliminates professional barriers, is easy to scale, increases accuracy, and is efficient. For example, creating a prediction event like "What will the opening price of Apples stock be on January 1, 2018?" would require traditional financial market prediction tools to analyze the investment environment, understand the companys basic situation, calculate the companys finances, and finally compute investment returns to roughly give a prediction. When the same prediction market is proposed on Bodhi, the result obtained is the collective computation of the entire network, which is not only cost-effective but also akin to the outcome of a simulated stock trade across the network, resulting in higher precision, efficiency, and scalability to other stocks, arbitrary times, and closing prices.
Information
Information is crucial for the development of human society, and many decisions depend on accurate and reliable information. To obtain precise information and improve decision-making accuracy, people employ various methods such as questionnaires and paid data transactions. However, these information-gathering methods are not only costly but also have narrow coverage. Prediction markets incentivize individuals with information sources to voluntarily provide information. For example, in 1988, several professors at the University of Iowa established an Iowa presidential election prediction market, where participants could predict the identity of the next elected US president. Since its inception, this market has compiled predictions for each US presidential election, achieving significantly higher accuracy than political commentators and opinion polls. Bodhi will make it easy for anyone to establish similar prediction markets, with the blockchains value transfer network serving as the most solid trust foundation for prediction markets. When prediction events are posted on Bodhi, due to its decentralized nature, the outcomes more closely reflect public opinion, with the equivalent of anonymous participation from all members, greatly enhancing the accuracy of predictions.
Insurance
Insurance is an industry closely related to the general public. Due to centralized management in the traditional insurance industry, issues such as lengthy processes, complicated and slow claims procedures, and the extensive agency system have been criticized. These factors result in a significant portion of insurance revenue being allocated to corporate operations. Bodhis decentralized prediction market can perfectly address these shortcomings. For instance, using the Bodhi platform, one can create an aviation insurance prediction event. Users who wish to purchase aviation insurance can predict the probability of flight delays before boarding their flight and price it accordingly. In most cases, flights are on time, so the users tokens will remain locked in the smart contract associated with the aviation insurance prediction event. When a flight is delayed, a flight information intermediary (Oracle) will write the flight number into the smart contract for the corresponding aviation insurance. The Bodhi platform will automatically refund token compensation to customers who purchased insurance for that specific flight number. The entire process is fully automated and requires no human intervention, with all user tokens, except for a small portion reserved for platform transaction fees, used for customer compensation.
Sports Betting
Global online sports betting is a massive market, with regulated market amounts reaching at least several billion dollars. Due to differences in regulations across regions, sports betting is fragmented, with each betting market operating independently. Operating within isolated data and fragmented markets, betting markets have limited accessibility and cannot promptly introduce new betting events of interest to users. Meanwhile, regulation is a double-edged sword; data shows that unregulated markets have ten times the betting volume of regulated ones, making fraud and illegal operations major regulatory challenges in global betting markets. Moreover, because of centralized services, users face risks such as theft by hackers, system failures, and breaches by service providers, leading to bankruptcy. All these problems ultimately translate into high costs for launching new betting markets and high taxes levied on users. This further restricts free competition in the betting market and dampens user enthusiasm for participating in betting markets. The high risks associated with betting have led the public to equate betting with speculation. The innovation brought by Bodhi aims to solve these problems. Bodhi is an open platform based on blockchain, allowing anyone to participate transparently. All creators of prediction events on Bodhi are equal, able to create any betting event without exorbitant fees. This free and open platform will significantly increase market liquidity, translating into objective odds.
Traditional Prediction Markets
The Bodhi prediction market is dedicated to building the next generation of decentralized prediction market platforms, envisioning a future where global users engage in global collaboration. However, the evolution of the market does not happen overnight, and traditional prediction markets will still play a vital role in social decision-making for some time to come. Bodhi is committed to working in synergy with traditional prediction markets and becoming the infrastructure of the traditional prediction market in the future. Traditional prediction markets incur significant costs and time maintaining their own prediction market servers. The Bodhi platform provides most of the logic required for prediction markets on the blockchain and offers a complete set of simple and alternative solutions for traditional prediction markets to utilize the Bodhi platform as the underlying prediction market engine. This not only significantly reduces the failure rate of traditional prediction markets but also greatly saves costs and lowers market entry barriers.

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