The Bodhi team launched the Naka chain, an independent blockchain platform, in January 2019. NBOT is the bodhi token on Naka. Bodhi Token (BOT) and Bodhi On Ethereum (BOE), two previous projects of the Bodhi team, were merged according to 1 BOT=0.59 NBOT and 1 BOE=0.41 NBOT respectively.
The Bodhi team built a DEFI ecosystem around NBOT, and launched a new DEFI prediction market product, a synthetic asset exchange: deerfi.com, which allows users to trade financial derivatives with currency-based pricing. The first online support is based on NBOT (ERC20). Using Deerfi Long, NBOT holders can do long BTC and ETH. Due to the currency-based pricing, there is no risk of forced liquidation. In addition to being long, NBOT holders can also join the fund pool to provide liquidity for Deerfi Long. Joining the fund pool will be able to obtain the service fee income of users using the Deerfi Long platform.

Project rights

1) Right to initiate arbitration and right to indemnification. BOT holders have the right to raise objections to the results of predicted events, initiate arbitration and obtain corresponding compensation. Before initiating an arbitration request, BOT holders must lock part of their BOT as fixed deposits. If the arbitration result is in favor of the arbitration sponsor, the arbitration sponsor has the right to obtain part of the BOT from the losing party as compensation.
2) Arbitration voting rights and rewards. BOT holders have the right to participate in arbitration voting on controversial prediction events and receive corresponding rewards. Before participating in arbitration voting, BOT holders must lock part of their BOT as fixed deposits. If the vote is consistent with the final result, the BOT holder has the right to receive part of the BOT from the losing party as a reward. In addition, BOT holders can forcibly shut down illegal and malicious prediction events by exercising their voting rights.
By definition, BOT is a utility token that can only be used on the Bodhi platform. Ownership of the BOT carries no rights, express or implied, other than the right to use the BOT as a means of using and interacting with the Platform on a duly completed and deployed Platform.
BOT is a non-refundable functional token, which in no way represents any shares, participations, rights, titles or interests in the foundation or any other company, enterprise or operator, nor does BOT confer upon token holders Promises regarding any income, expenses, profits or returns on investments. Nor does BOT constitute securities in Singapore or any relevant jurisdiction.
As part of Bodhi Bodhi Platform's prediction market operations, BOT will be consumed as service fees (provided to information intermediary Oracles) or as transaction fees (paid to Bodhi Bodhi Platform). Should a secondary market or exchange for trading BOTs be developed, it will be run and operated completely independently of the Foundation (or its affiliates), the sale of BOTs and the Bodhi Platform.

Application scenario

Financial tools
There are many shortcomings in the current traditional financial market forecasting tools: high intermediary fees, professional requirements, poor scalability, limited expression ability, insufficient accuracy, Inefficiency etc. Bodhi's prediction market is different from these financial tools in that it can bring more nuanced and detailed expressions to economic events, so that it can more clearly evaluate the value and risk from the macro and microeconomic levels, and reduce intermediary costs. Remove the professional threshold, easy to expand, improve accuracy and efficiency. For example, create a forecast event such as "What is the opening price of Apple's stock on January 1, 2018?" For this forecast event, traditional financial market forecasting tools need to analyze the investment environment, understand the basic situation of the company, and calculate the company's finances. , and finally calculate the investment income to give a rough prediction result. The same prediction market is proposed on Bodhi, and the result obtained is the calculation result of the whole network. Not only is the cost low, but the result is equivalent to the result obtained after simulating stock trading on the whole network, so the result is more accurate and efficient. And it can also be extended to other stocks,
any time, closing price and so on.
Information
Information is crucial to the development of human society, and many decisions depend on accurate and reliable information. In order to obtain accurate information to improve the accuracy of decision-making, people use a variety of information acquisition methods, such as: questionnaire surveys, paid data transactions, etc. However, these information acquisition methods are not only costly, but also narrow in coverage. Prediction markets can incentivize those with sources to volunteer information. For example, in 1988, several professors from the University of Iowa established an Iowa presidential election prediction market, in which participants could predict the identity of the next elected president of the United States. Since its inception, the market has compiled predictions for every U.S. presidential election with far greater accuracy than the results of political commentators and opinion polls. Bodhi will make it easy for everyone to build a similar prediction market, and the value delivery network of the blockchain will be the most solid foundation of trust in the prediction market. Publishing forecast events on Bodhi, due to the decentralized nature of Bodhi, the results are closer to public opinion, and it is equivalent to the anonymous participation of all members, which will greatly improve the accuracy of predictions.
Insurance
Insurance is an industry closely related to the public. Due to the centralized management of the traditional insurance industry, there are problems such as too long process and complicated and slow claim settlement procedures. At the same time, the huge agency system of insurance companies also makes a large part of the income of insurance be used for business operations. Bodhi's decentralized prediction market can perfectly solve these shortcomings. For example, an aviation insurance forecast event can be created using the Bodhi platform. Users who want to buy aviation insurance can use tokens to predict the probability of flight delays and price them before taking a flight. In most cases, the user's flight will be on time, so the user's token will be locked in the smart contract corresponding to the aviation insurance prediction event. When a flight is delayed, the flight information intermediary (Oracle) will write the flight number of the delayed flight into the smart contract of the aviation insurance. The Bodhi platform will be able to automatically return token compensation to customers who have purchased the aviation insurance corresponding to the flight number. The whole process is fully automated and does not require manual intervention. All user tokens will be used for customer claims except for a small portion of platform transaction fees.
Sports Betting
Global online sports betting is a huge market, and the value of the regulated market is at least billions of dollars. Due to the differences in regulations in different regions, sports betting is localized, and each betting market is an individual operating independently. Guessing marketplaces operating in siled data and fragmented markets have limited accessibility and are unable to launch new guessing events of interest to users in a timely manner. At the same time, regulation is a double-edged sword. Statistics show that the amount of betting in the unregulated market is 10 times that of the regulated market, which also makes fraud and illegal operations a regulatory problem in the global betting market. In addition, because of the centralized service, it is easy to have a series of unexpected problems such as hacker theft of users' funds, system failure and service provider default and bankruptcy. All of these problems ultimately translate into the high cost of opening a new quiz market and high taxes and fees charged to users. This further limits the free competition in the guessing market and the enthusiasm of users to participate in the guessing market. The high risk of the guessing market makes the public equate guessing with speculation. The innovations brought by Bodhi aim to solve these problems. Bodhi is an open blockchain-based platform where anyone can participate openly and transparently. All prediction event creators based on Bodhi are equal, and any guessing event can be created without high handling fees. This free and open platform will greatly increase market liquidity, which will translate into objective odds.
Traditional prediction market
Bodhi prediction market is committed to creating a next-generation decentralized prediction market platform. We can foresee that the future prediction market will be global users participating in global collaboration. However, the evolution of the market does not happen overnight. The traditional prediction market will still play an important role in the future and play a role in all aspects of social decision-making. Bodhi is also committed to synergy with the traditional prediction market and will become the infrastructure of the traditional prediction market in the future. Traditional prediction markets require a lot of cost and time to maintain their own prediction market servers. The Bodhi platform provides most of the logic required for the prediction market on the blockchain, and provides a complete set of simple and alternative solutions for the traditional prediction market to use the Bodhi platform as the prediction market engine behind it. This can not only greatly reduce the failure rate of the traditional prediction market, but also greatly save costs and lower the market entry threshold.

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