LIGA is a blockchain-based service that uses a predictions market model to facilitate trading on the outcome of various events, offering an alternative to traditional betting services. LIGA issues a set of cards (represented by a blockchain token) for every possible outcome of an event or competition. While cards are initially offered at the same price, the price for each card will rise as more are sold. An event’s prize pool is established by selling cards, and is distributed proportionally between holders of cards that represent the ultimate outcome. Prices are determined by traders’ views on the likelihood of a given outcome, and LIGA has no control of this.
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