Why Build On Flux? Developer Incentives and the New Frontier of Open Markets
Flux protocol is a public permissionless development protocol for building the future of open-markets. Created on the distributed infrastructure of the NEAR Ecosystem, Flux offers developers the opportunity to quickly and easily build next-generation open-market solutions in a decentralized, scalable, and secure manner.
As a public protocol, developers have the opportunity to build solutions on Flux using open-source Software Developer Kits (SDKs), the Flux Open-Source App, Automatic Market Mirrors, as well as the Flux Oracle: In short, all the tools a market creator would need to create an efficient, cheap, and scalable market from any future data source.
Start Building on Flux, in 3 Lines of Code
The first step in building on Flux, is to download the Flux SDK and import it into your project. The four core features of the Flux SDK, allow prospective developers to create, integrate, and launch new markets in three lines of code:
Connect with the Flux Oracle: To pull data from existing markets or data repositories.
Integrate with the Flux Orderbook: To set up a market on Flux Protocol, and for Flux users to interact with.
Liquidity from Flux Automated Market Maker: To have a foundation for scaling a particular market.
Easily accessible from any new or existing App: To integrate your market into existing or future applications.
Create Your Market!
Creating a market on Flux is quick and easy to do, if you already know what kind of an open-market you would like to create. On Flux, three types of markets can be created:
First: Binary Markets – where questions can have a total of two possible outcomes, most often formed in terms of ‘Yes’ or ’No’: Will the Federal Reserve Lower Interest Rates on October 15th?
Second: Categorical Markets – where questions can have multiple different outcomes specific to a particular question or circumstance: Who will win the Super Bowl in 2021? Team A, Team B, Team C, Team D…. Team N
Third: Scalar Markets – where questions have a total of two possible outcomes, but where value is allocated in proportion to the position taken. Traders have the opportunity to go long or short in a range of values set within clear parameters of question.
Why Build On Flux Now?
Flux revolutionizes open-markets in three primary ways:
Permission: Any USER and Any DEVELOPER can Participate in ANY Open Market.
Decentralization: No sole owner of the protocol has the capacity to close or ban an open-market. The design of the protocol is such that markets can operate independently of a central authority.
Cheap and Scalable: Because Flux is built on NEAR protocol, it is extremely cost-effective and easy to use: Transactions cost less than one cent, with up to 80,000 transactions capable of being processed per second, and resolution times set between 30 minutes and 24 hours depending on the specific market.
As such, the technical design of Flux Protocol is such that as more projects build on Flux, more users will accrue to the platform. In this manner, Flux will continue to grow over time as its competitive advantages attract increasing numbers of developers, entrepreneurs, and users.
At its current state of development, Flux protocol presents a rare opportunity for prospective developers: An open frontier of possible markets to create, support and funding from the Flux Team via the Flux Beta Program, and a complete set of tools to start building a specific vertical, market monitor, or user-application. With public interest in open-markets and open-finance on the rise, Flux Protocol offers a unique opportunity for building a decentralized, scalable, and cost-effective future in such markets.