Leveraged prediction markets have always been tricky to execute properly—the intersection of derivatives mechanics and market design is where most projects stumble. There's genuine intrigue around how the newer entrants are tackling this.

What really matters here: How are they actually managing the risk side of things? Liquidations, funding rates, counterparty exposure—these aren't trivial. Second, bootstrapping liquidity in a leveraged environment is a different beast entirely. You can't just airdrop tokens and hope. And then there's the incentive layer—what's the long-term user thesis beyond the launch honeypot?

These are the mechanics that separate projects worth watching from the rest.