🐱 introducing catnip: simple, liquid prediction markets

Oct 09, 2020

Say hello to catnip.

A simpler, lower-fee prediction market experience built on Augur and Balancer.

We started catnip to deliver a prediction market experience with less friction and more fun for everybody, including those new to the world of crypto.

We used foundry.finance to tokenize outcome shares in Augur markets, put them into a Balancer AMM pool, and then made a custom UI to let users swap via this pool.

In plain english, catnip delivers:

💸 Low Fees

up to 10x lower tx fees than Augur’s native UI and ~50% lower tx fees than Balancer’s UI
zero settlement fees
half the swap fees of Omen and Polymarket

💧 Liquidity

We’re starting with just one market on the 2020 U.S. presidential election to concentrate liquidity around the world’s most predicted event.

We already have over 300k in liquidity in our Balancer pool.

This means you can buy 1k DAI worth of yTrump or nTrump outcome tokens at ~1% slippage.

😻 Simplicity

catnip features a simple Uniswap-style UI that will be familiar to any DeFi user.

Just two clicks to make a trade.

If you’re new to Ethereum, it’s a bit more of a learning curve, but we’re working hard to simplify it. We hope that catnip can be a bridge to DeFi for non-natives who crave a better alternative to the low limits, high fees, closed access & non-transparency of centralized prediction markets.