Robin Markets Announces Shutdown of V1 to Launch Improved Version

The prediction market revenue protocol Robin Markets has announced the shutdown of V1. The team stated that the initial version of the revenue product did not achieve the expected adoption and will gradually be phased out to allow for the re-launch of an improved version. The points program, revenue guarantees, and matching rewards will cease with V1, as they were intended to incentivize liquidity but did not perform as expected. Existing products will continue to operate until the new version is launched by the end of this year. The team pointed out two main issues: first, position matching; V1 required matching opposite YES and NO positions within each market's liquidity pool, and the efficiency of funds depended on the balance of distributions on both sides, leading to early deposited tokens often being idle, resulting in thin liquidity pools where early users frequently could not earn returns; second, changes in the revenue environment; when the project launched, the yield on USDC.e on Polygon was considerable, but since October 10, more revenue channels have contracted, existing revenue sources have weakened, and the pressure for subsidized guarantees has increased. The team stated that insufficient matching and weakening revenues mutually affected each other, hindering the product's actual operation. Robin Markets positions itself as the capital efficiency layer for prediction markets, allowing users to stake Polymarket outcome tokens on Polygon to earn returns. The project previously completed a $475,000 angel round of financing, with investors including Fabric VC and Animoca Brands. The next version will directly address the issues of matching mechanisms and revenue sources.

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