THE STRATEGY COIN OF BETTING: Clutch Markets And Cypher Industries Are Teaming Up To Launch $MARKET, Combining DAO Voting, Gambling, And Flywheels!

DAO voting, strategy coins, and gambling are all coming together thanks to Cypher Industries and ApeChain’s very own Clutch Markets, who are looking to merge three different metas into a money making ecosystem.

Earlier this week, Ethereum native market infrastructure dApp Cypher Industries announced that it is teaming up with Clutch Markets and its founder, and ApeChain Head of DeFi, 0xSimpleFarmer to launch $MARKET, which he has described as a TokenWorks style strategy coin for betting.

 

“In essence I want to refocus on that the $market token is essentially a Polymarket Strategy token, with a group based voting dynamic for token holders,” SimpleFarmer said. “The token itself is a game.”

Each week, holders will vote like a DAO on how to allocate $MARKET’s accumulated fees across various bets. When the $MARKET community hits, the flywheel spins, burning tokens driving the price higher. In other words, the TokenWorks model, but applied to prediction markets.

 

Check out all the different flywheel mechanics $MARKET plans to deploy below:

 

 

Cypher and Clutch Markets are expected to launch $MARKET on Ethereum mainnet on February 5. For more information on the drop, check out their full thread below.

 

The Gazette is working to learn more about what Cypher Industries and Clutch Markets are building and is aiming to bring you an interview with the team next week. Stay tuned for updates!