Melee Launches Permissionless Prediction Market PMM Trading Mechanism

Melee has released the Parimutuel Market Maker (PMM) litepaper, which is a trading mechanism designed for permissionless prediction markets. This mechanism improves upon the traditional parimutuel model by integrating dynamic pricing curves and minimum return limits, addressing the issue of late-stage capital dilution affecting early participants' returns in traditional markets. PMM allows markets to be opened from the first capital contribution without the need for professional market makers, with all settlements completed peer-to-peer among participants. Early participants and those involved in the presale phase can earn liquidity rewards from counterparties, while non-directional funds can cash out from the LP treasury to exit early and realize profits. Melee completed a $3.5 million Pre-Seed funding round in September 2025, with investments from DBA, Variant, and angel investors; the Alpha phase is set to launch in October of the same year.

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