Panther Money Integrates Chainlink Price Feeds to Support Prediction Markets on Harmony

We’re excited to announce that Panther Money — a prediction market and no-loss lottery platform — has integrated Chainlink Price Feeds on the Harmony mainnet. By integrating the industry-leading decentralized oracle network, Panther Money has access to high-quality, tamper-proof price feeds needed to settle prediction markets based on the ONE price. This will provide our users with stronger assurances that the prices used in our prediction markets are accurate and tamper-proof.

Our initial integration involves the use of the following Chainlink Price Feed: ONE/USDT. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.

Panther Money is a price prediction app that allows you to ‘bet’ if the price of ONE is going to be higher or lower than the price at the prediction. Panther Money is also a no-loss lottery where you can deposit tokens to a pool and get a chance to win a weekly prize without ever losing the deposited amount.

How the Panther Money Prediction Market Works

  1. Predict if the price of ONE/USDT will be higher or lower than it was when the “LIVE” phase started.
  2. If you enter an “UP” position, and the ONE/USDT “Closed Price” is higher. than the “Locked Price” at the end of the 20-minute LIVE phase, you WIN! And if it’s lower, you lose.
  3. If you enter a “DOWN” position, and the ONE/USDT “Closed Price” is higher than the “Locked Price” at the end of the 5-minute LIVE phase, you LOSE! If it’s lower, you win.

How the Panther Money No-Loss Pools Work

  1. Players deposit stablecoins or another crypto into a smart contract (the pool) to buy tickets. As of December 2021, there are 3 lottery pools: VIPER, JEWEL, USDT.
  2. Each ticket costs one token. Each pool has a different prize based on the total value deposited by the players. Players can withdraw their money at any point.
  3. The funds in the pool are sent to a DeFi lending platform, where they accrue interest for a period (currently, one week).
  4. At the end of the week, 5 lucky winners are chosen for each pool, and the prize — the accrued interest — is equally distributed amongst them.

In order to help secure our prediction markets, we needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.

After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:

  • High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
  • Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
  • Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
  • Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.

“Chainlink is simply the best oracle solution available on Harmony. Thanks to its highly decentralized architecture, users of our prediction markets can have stronger guarantees that the prices on the Panther Money platform are reliable even during extreme market conditions.” — Udit Gulati, Co-founder and Developer at Panther Money

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Panther Money

In essence, Panther Money is a decentralized application that turns saving money into a game. It does this by combining the power of blockchain technology and smart contracts. Panther Money has a prediction market and no loss lottery pools.

Prediction: Playing Panther Money Prediction lets you test your foresight to earn rewards. Use your market knowledge or gut feeling to predict if the ONEUSDT price will go up or down in the near future. Get it right and you’ll collect a share of the round’s prize pool!

No loss lottery: Players can join the game by buying saving tickets, each giving them a chance to win a prize. At the end of each week, a few winners get the pool prizes and their tickets back. What makes this game unique, however, is that players who don’t win also get their tickets back. Everyone involved keeps their money! To fund the prizes, Panther Money uses the interest earned on purchased tickets.

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The first no loss lottery on harmony blockchain

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Panther Money

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The first no loss lottery on harmony blockchain

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