Bodhi Network
Open-source, decentralized prediction market platform focusing on Chinese market.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
* | $1.5m | Seed | |
| Total Funding | 000k | ||
| USD | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Bodhi Network, established in May 2017 by veteran blockchain developer Xiahong Lin, is a decentralized prediction market platform. Lin, who has been involved in the blockchain space since 2011, brought experience from previous roles at Twitter and Tencent, alongside a background in Computer Science and Cryptography.
The firm focuses on creating a global, autonomous, and scalable prediction market, with an initial emphasis on the Chinese market. It allows any user to create prediction events based on finance, sports, politics, or other global events, which others can then trade on. The business model operates on the blockchain, aiming to offer lower fees than traditional prediction markets by removing centralized intermediaries. Revenue generation is tied to its native digital token, BOT, which is utilized for paying fees and as collateral for event participation.
Bodhi Network was developed on the Qtum blockchain, a decision made to better serve the Chinese market due to Qtum's strong presence and partnerships in the region. A key feature of the platform is its innovative "replaceable Oracle" framework. This system combines a third-party Oracle with a voting-based Oracle, allowing BOT token holders to dispute and rectify results, which ensures a more autonomous and reliable process for setting event outcomes compared to purely centralized or consensus-based models.
In August 2017, the company secured $1.5 million in seed funding in a round led by DHVC (Danhua Capital) and including prominent angel investors such as Qtum founder Patrick Dai. This was followed by a successful Initial Coin Offering (ICO) that raised a total of $11.5M. The project launched a beta on the Qtum testnet in December 2017, followed by a mainnet deployment in 2018. However, according to PitchBook, the company is now listed as out of business as of January 2021.
Keywords: Bodhi Network, decentralized prediction market, Xiahong Lin, Qtum blockchain, BOT token, replaceable Oracle, blockchain finance, crypto prediction, event trading, decentralized application, dApp, smart contracts, peer-to-peer betting, information markets, collective intelligence, oracle protocol, digital currency trading, fintech blockchain, crypto event market, peer-to-peer prediction