Melee, a prediction market protocol in the Solana ecosystem, has published a litepaper for its Parimutuel Market Maker, or PMM, a trading mechanism built for permissionless prediction markets. The team said PMM modifies the traditional parimutuel model by adding a dynamic pricing curve and a minimum-return floor, with the stated goal of addressing a common issue in later-stage markets where new capital can dilute returns for earlier participants. According to Melee, the design allows a market to open from the first deposit without relying on professional market makers, while settlement takes place directly between participants on a peer-to-peer basis. The project also said early users and those joining in a presale phase can receive opposing-side liquidity rewards, while non-directional capital can exit early and earn returns through a cashout LP vault. Foresight News had previously reported that Melee completed a $3.5 million pre-seed round in September 2025 with participation from DBA, Variant and angel investors, and launched its Alpha phase in October that year.
Melee, a Solana-based prediction market protocol, has released a litepaper for its Parimutuel Market Maker, or PMM. The mechanism is designed specifically for permissionless prediction markets.
Melee said PMM builds on the traditional parimutuel model by combining a dynamic pricing curve with a minimum-return floor. The stated purpose is to address a problem in conventional parimutuel markets where capital entering at a later stage can dilute returns for earlier participants.
According to the project, PMM allows a market to open with the first unit of capital and does not require professional market makers. Settlement is handled directly between participants on a peer-to-peer basis. Melee also said early participants and users joining in a presale phase can receive opposing-side liquidity rewards, while non-directional capital can exit early and earn returns through a cashout LP vault.
Foresight News previously reported that Melee completed a $3.5 million pre-seed financing round in September 2025, with participation from DBA, Variant and angel investors. The project entered its Alpha phase in October of the same year.
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