Truemarkets, Base L2’s Cousin of Polymarket, Officially Launched

Truemarkets, a decentralized prediction market platform built on the Base Layer 2 blockchain, has officially launched. Truemarkets, often referred to as the “cousin” of Polymarket, aims to bring real-world data to the on-chain ecosystem by allowing users to bet on the outcomes of various events, such as politics, pop culture, and other breaking headlines. The platform mirrors Polymarket by creating trading markets where participants can buy and sell tokens based on predictions, reflecting the current public sentiment about future events.

The launch comes after Truemarkets raised $4.03 million in November 2024 through a public sale of Oracle Patron NFTs. The company sold 15,071 NFTs at a price of 0.08 ETH each, with Vitalik Buterin purchasing 400 NFTs worth 32 ETH. As part of the project’s strategy, Truemarkets will allocate 40.03% of its total 100 million TRUE token supply to the NFT holders in an upcoming airdrop. TRUE will function solely as a governance token, allowing holders to participate in the decision-making processes of the platform.

In its design, Truemarkets offers an engaging and rewarding experience for participants by allowing them to trade “YES” and “NO” tokens for each forecasting scenario. For example, users can bet on questions like “Will Solana (SOL) ETFs be approved by the end of 2025?” The price of these tokens fluctuates based on market sentiment, and after the event occurs, the tokens linked to the correct answer are worth $1 each, while the incorrect tokens lose their value.

The launch of Truemarkets positions it as an innovative player in the decentralized prediction market space, leveraging Base L2 for scalability and efficiency. The platform aims to provide a more robust, on-chain method for forecasting future events and creating new avenues for market participants to engage with real-world outcomes.