Delphy FAQ

As China's first distributed mobile prediction market platform built on Ethereum, Delphy has been well received by our engaging community since the start of the project. Delphy Foundation consolidated the frequently asked questions and provides questions accordingly as below.

1. What is Delphy ?

Delphy is China's first distributed mobile prediction markets platform based on Ethereum. Delphy uses market incentives to help market participants transparently express their confidence and judgment about the outcome of future events instantaneously, such as to effectively predict future. Delphy users can participate in transactions in any prediction market anytime and anywhere. Those, who made accurate prediction, will get rewarded.Delphy's objective is to leverage the wisdom of crowds to forecast future events and even create the future, and simultaneously to provide an excellent user experience.

2. What is a prediction market?

A prediction market allows users to buy and trade positions on the outcome of any arbitrary event. Most economic and financial experts constantly report exemplary info to institutions. Active speculative markets are very effective at inducing people to acquire info, share it via trades, and collect that info into consensus prices that persuade wider audiences. Due to this incentive, prediction markets provide an interesting, and more accurate forecast for the outcome of future events.

3. What are the advantages of prediction markets compared with big data and AI?

First, low cost. The collection of massive data and possible frequent changes of models lead to the high cost of big data analysis. In contrast, prediction markets use market incentives to collect market information at a relatively low cost. Second, close to reality. The factors affecting events are very complex, and it is difficult for big data analysis models to accurately simulate all social phenomena. While, prediction market is result-oriented and directly brings together people's confidence and judgment about the outcome of upcoming events. Third, better timeliness. The big data analysis sources from historical data. In reality, human behavior might change over time. The results obtained from analyzing historical data may not be used for future decision-making process. Nevertheless, prediction market is able to collect people's latest views on upcoming events real-time by using incentives. Last, break the forecast monopoly. Due to the high-barrier-to-entry feature, big data analysis is used by large companies to monopolize market, while leaves the public out. The rise of prediction markets is going to bring democratization to this area.

4. What are the pain points of traditional prediction markets? How can Delphy help resolve the problems?

First, centralized markets have the potential for corruption and price manipulation. Second, markets are usually under tight financial supervision, resulting in the lack of user participation and limited transaction volume, keeping it away from the mainstream market. For example, the famous intrade.com was forced to close because it failed to comply with laws of CFTC of USA. Third, there is a certain conflict of interest between prediction market and the current intellectual circles (experts’ opinions) as well as public opinion polling. Delphy is a prediction markets platform built on Ethereum. First, as it’s built on Ethereum, all predictive data on blockchain are replicated across the network, and its feature of tamper-proof enables prediction platforms to prove their innocence. Second, decentralization also makes prediction market gain global liquidity and attract massive users.  Third, blockchain-based prediction markets can encourage and attract more insiders and professionals to participate with necessary token incentives.

5. What are the features of Delphy?

1) Naturally Mobile: Smartphone is the preferred platform choice for Delphy to develop its application. Delphy iOS and Android mobile app will be launched together with the Delphy platform, and it will improve user friendliness, maximally meet users’ needs. 2) Customizable: Delphy plans to gradually allow user's customizable prediction markets after the launch of Delphy DApp v3.0. Users can freely set the market's Loss limit, deposit, result range, market liquidity, delivery date, Oracle and dispute arbitration mechanism. Users with different preferences can choose their own Markets for transactions, and really achieve creation and cooperation of personalized markets. 3) Legal and Compliance: Delphy will protect the user's rights and interests by filtering out illegal or unethical events (such as politics, pornography, religion, etc.) 4) Social: Delphy mobile app is a social prediction market, and Delphy features functions like comments and P2P messaging to provide users to socialize with one another on one single platform.

6. Why Delphy choose to build on Light Ethereum Subprotocol?

Delphy is a mobile platform running a light Ethereum client based on LES. The Delphy App supports all the functions of an Ethereum full node, except mining, and leverages the P2P protocol to communicate directly with the other nodes in the Ethereum network. This greatly improves efficiency and makes the Delphy App, SDK and API powerful and scalable.

7. Who has been working with Delphy currently?

Fenbushi Capital, Node Capital, LinkVc and Chainfunder are Delphy’s primary institutional investors. Alliance wallet: imToken, Bitpie, Medishares, TokenPocket; Partnership projects: Hashgard, Genaro, Primas, OracleChain, Bihu; Partnership media: Cointime (Jinse Finance), Bishijie, 8btc, 36kr, Lianchaguan, Tokenpapa. And many more to come.

8. What’s DPY's circulating supply? What's the percentage to be allocated to Team?

DPY is the utility token issued by Delphy. The total supply of DPY is 100,000,000. For the circulating supply, please feel free to check it out at coinmarketcap.com. As of the end of August 2018, the circulating supply of DPY is around 42 million. 10% of DPY issuance, which is 10million DPYs, will be allocated to Delphy team. All these DPYs are fully locked in the first year, then linearly released in the next 2 years.

9. What’s Delphy’s “Candy” airdrop plan? How long will it last?

Delphy promised to give 50% of all DPY tokens, which equals to 50 million DPY tokens in total, to our token holders in a linear distribution way within two years, for free. By end of each month, Delphy will monitor the number of holders and the amount of tokens held by each holder at a randomly picked moment (a snapshot) decided by Delphy. This reward program has started from October 2017, as said before, will last for 2 years. The total amount DPY token to be awarded to our holders is exactly same amount every month, which is: total of 50 million (DPY) /24 (months) = 2,083,333.33333 (DPY). The number of tokens to be received by a holder = the amount of token held at snapshot moment/ (24+n) – transaction fees (which is about 0.5DPY by end of Dec, 2017 = Gas price * Gas used/Price of DPY). (n = Nth month of the reward program – 1) For the circulating supply, please feel free to check it out at etherscan.io and coinmarketcap.com. As of the end of August 2018, the circulating supply of DPY is around 40 million. Take Dec 2017 as an example, the snapshot moment is 18:00 on Dec 29, 2017. So the number of tokens to be received = the number of token a holder is holding at 18:00 on Dec 29, 2017/26 - transaction fees.