Introduction

What is Plation?

Plation began as a Chainlink Spring 2022 Hackathon entry and later winner.

Utilising Truflation's inflation oracle, Plation provides an on-chain opportunity for users to bet on whether inflation will rise or fall in daily prediction rounds.

How does Plation work?

Firstly, Plation uses Truflation's Inflation oracle to retrieve its verifiable and censorship-resistant inflation data.

This data is used in Prediction rounds, which run every 24 hours.

A note on the function of Prediction rounds:

A prediction round has three stages:

1. Open

2. Locked

3. Closed

And will move through these stages in 24 hour rounds. So a new round N begins at Open.

24 hours later that round becomes Locked, when locked: no one may bet, and a property LockRate is set on the prediction round, this is the baseline inflation rate which will be used later to check in which direction inflation has moved. (In this same period, a new open round N+1 will begin)

Another 24 hours later, that round N is now closed, this is when the rewards are calculated and prediction is considered Ended. (Round N+1 is now Locked)

You cannot claim rewards before the round is closed.