BlitzPredict is Joining the Bancor Network™
BlitzPredict is excited to announce our partnership with the Bancor Network. BlitzPredict will integrate the Bancor Protocol in order to join the Bancor Network and allow continuous convertibility between every other token in the network. BlitzPredict is a global platform utilizing fintech solutions to provide functionality and liquidity to users of blockchain prediction markets and sportsbooks, with the aim of bringing the power of blockchain technology to mainstream consumers via streamlined products.
Liquidity is a major problem for sports bettors, as users must deposit money and tie up their funds for long periods of time. Although wagers are graded nearly instantly, cashouts can take days or even weeks to process. In addition, if the sportsbook collapses or defaults, there is no recourse for users to reclaim their funds.
Providing liquidity to our users is a cornerstone of the BlitzPredict platform and adopting the Bancor Protocol will allow our users to quickly and easily convert between currencies so they can participate and redeem in the currency of their choice. Our auditable liquidity reserve will ensure that users are paid immediately at the conclusion of an event. Our aggregator and liquidity reserve will ensure our users always get the best odds and receive instant liquidity — no more waiting days or even weeks for withdrawals to hit. BlitzPredict will constantly aggregate data from prediction markets and sportsbooks to provide users with the best odds available in the market for a given event.
BlitzPredict is implementing a Bancor Token Relay to further provide liquidity and automated rates for our users. Users will be able to instantly convert tokens without needing to use an exchange or find a buyer. BlitzPredict will be activated in the Bancor Network by March 15, 2018 and allocate 2% of the circulating token supply to the Token Relay. You can join the BlitzPredict community here.
By implementing a Token Relay we will allow our users to instantly purchase or liquidate BPZ and convert it for any other token in the Bancor Network. Prices are calculated by the decentralized liquidity network smart contract formula, so buys and sells will use the same current price.
BlitzPredict is an aggregator of blockchain prediction markets, sportsbooks, and beyond. Our aggregator will ensure our users always get the price available in the marketplace. BlitzPredict will provide liquidity and a suite of smart contract tools to users of these platforms. Our analytics community will ensure that expert predictions are transparent and accurately recorded. Our token sale begins January 22, 2018, with a $6mm hard cap. For more information, visit: https://www.blitzpredict.io/
Bancor Protocol™ is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “Connector” method to enable formulaic price calculation and continuous liquidity for all compliant tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. For more information, visit the website and read the Bancor Protocol™ White paper.