Competitors
Primary, secondary, and tertiary competitors to Providence.
Last updated
Primary, secondary, and tertiary competitors to Providence.
Last updated
Providence is the first DeFi protocol-focused prediction market. Other prediction markets that specialise on alternative market sectors do exist, such as Polymarket, our closest competitor (as of Q1 2024, 95.4% of open interest inside Polymarket is classified as political). While in theory Polymarket has the ability to create DeFi growth metric predictions, there are fundamental technological differences between Providence and competitors.
Firstly, a key difference is from a technological and focus standpoint - see below.
Providence's technical architecture, data driven approach, manner of blockchain utilisation and other alternative design choice separate us from our competitors.
Beyond this, is how Providence perceives the use of prediction market technology. We do not identify as a gambling dApp or condone gambling. We believe that prediction market technology can be leveraged for the creation of innovative markets which provide users access to alternative speculation mechanisms as a part of a wider portfolio management strategy.
Providence encourages users to be educated to the greatest extent prior to speculation on our markets: emploring users to do their own research and bring themselves to an informed conclusion prior to speculating on our protocol.
Providence is not a gambling / betting platform. Users do not place bets. The same cannot be said for our competitors.
