PredictX to launch 1st AMM-Based Prediction Markets on BSC
Today we are excited to launch PredictX which is bringing a whole new dynamic to prediction markets, giving even more power to regular, everyday traders. More importantly, PredictX doesn’t manipulate market prices. Instead, it allows the power of DeFi to determine the likelihood and cost of future events.
PredictX will be the first AMM-Based prediction market platform to launch on Binance Smart Chain (BSC). As we will discuss below, this grants even more incentives for users and liquidity providers to participate in the market.
How PredictX Works
PredictX brings prediction markets to DeFi and has two major priorities: improving user experience and maximizing market liquidity. When markets don’t have enough liquidity, users will struggle to make predictions because of too much slippage. Fortunately, PredictX offers incentives for users to invest, thereby increasing liquidity across all its markets. Here are just a few of PredictX’s key benefits:
- Live AMM-based prediction markets
- Decentralized markets (no central authority)
- Incentives for both liquidity providers and users
- Seamless UI/UX for optimum user engagement
PredictX and BSC
PredictX also became the first team to bring conditional tokens onto BSC. Conditional tokens are a new asset class that makes it even easier to create liquidity in prediction markets, through combinatorial outcomes embedded into the tokens. As a result, it has never been easier for less-experienced traders or those with low capital to gain access to funds and enjoy the benefits of prediction markets.
PredictX offers users and liquidity providers the best liquidity incentives, especially when compared to other prediction market protocols. On the user end, traders can earn PRED tokens to use for making predictions. Alternatively, liquidity providers can benefit in even more ways, including:
- Earning fees from trades on their pool
- Accumulating PRED tokens for their provided share of the liquidity pool
- Building interest from their pool, which integrates with other BSC DeFi protocols
However, this may still leave some users with questions about how it all works which can be explored in our updated whitepaper. So, let’s take a closer look at BSC technology to see how it will enhance the PredictX user experience:
What is BSC?
The original Binance chain was launched in 2019 to facilitate high-speed, decentralized trading. While it worked fairly well, the underlying framework was somewhat limited in what it could do. For this reason, Binance Smart Chain (BSC) was introduced to run parallel to the original Binance chain. In essence, BSC boasts better functionality and compatibility with trading platforms.
Now, PredictX has taken BSC and combined it with optimized DeFi protocols. This ensures that traders can make predictions at lightning speed, with fast and easy access to liquidity providers. At the same time, liquidity providers have greater incentives to contribute to different pools and see substantial gains.
The Bottom Line
PredictX didn’t invent prediction markets, nor did it establish the first DeFi protocol. However, by combining the two, it has created a boundless investment platform that prioritizes voters of new markets. With the introduction of AMM-based prediction markets on BSC, PredictX has ushered in a new era of highly liquid prediction markets for both users and liquidity providers. In short, PredictX ensures the best liquidity across all markets while allowing users to win off their predictions on a user-friendly platform.
Our Official Links and Communities:
Website: https://predictx.market/
Twitter: https://twitter.com/1PredictX
Telegram Chat: https://t.me/PredictX_Official
Telegram ANN: https://t.me/PredictX_OfficialANN
Medium: https://predictx-official.medium.com/
