How to predict on the Prosper Platform
How does the Prosper Platform work?
The prediction pools are essentially timed binary options: you can predict whether the price of a choosen asset will be over (bull) or under (bear) the given condition price (the protocol’s calculated market price) over a chosen period of time — currently only 1 hours pools are available.
You predict by choosing an amount in the coin of your choice on the side you have chosen. Participants’ predictions on each side (bull vs bear) work to balance the pool and create a binary ratio of return on each side. The winner’s side will receive their predicted amount multiplied by the ratio of their side, corresponding to the redistributed totality of the pool volume, minus the fees (3% from winning side)
1 Hour pools start every 1 hour, on the hour. You will be able to place predictions during the first 15 minutes of the pool (allowance time). For example, if a pool starts at 10:00, predictions will be opened for 15 minutes, until 10:15, upon which predictions on this pool will be closed. A new pool will open at 10:15. Winners will be decided at the end of the pool’s 1 hour and pool’s funds will be distributed.
How to Predict, step by step :
Here is a presentation of the current platform UI:
1. Connect your wallet
Click “connect your wallet button” on the top right corner of the page.
Once connected, the platform will display the connected address and the amount of tokens in your wallet.
2. Select your pool
Select the token and pair you want to predict on:
Based on the selected network, you will be offered a selection of coins / tokens to predict with (the assets you choose for predictions) and pairs with which you will be predicting bull vs bear based on the condition price. Here for exemple, we have decided to predict on the BNB/USD pair using PROS tokens.
3. You are now ready to predict.
You can see the condition price for your pool, and decide whether you think the price at the end of the pool (1h) will be more, or less than the condition price.
You can also see in real time the amounts already predicted on each side of the pool, and the return ratio of each side.
The “Predict” button will remain yellow for the first 15 minutes of each pool, allowing you to place your prediction during the allowance time. Click on the ABOVE or BELOW Buttons to open the prediction popup.
You can now enter the amount you want to predict with in the “My Position” field, and the side you want to predict on. Click on “Confirm”, this will trigger a transaction that you will need to confirm again in your Metamask!
The pool will close predictions and no longer allow new predictions after 10 minutes. It will register total amounts and freeze the ratios for each side.
4. Claim your gains.
When the pool is over, you will be able to claim your prediction rewards if you have predicted correctly. As a reminder, hourly pools conclude 4 hours after their opening.
Gains = (Prediction * side ratio)-fees
Click on the yellow “Claim” button of the pool you participated in. This will trigger a transaction on your Metamask that you will need to confirm in order to receive your gains.
In case you predicted on the losing side, the platform will inform you that this prediction is lost.
Congratulations! you now have successfully predicted on the Prosper Platform !
For the 3rd mining event, the distribution of your $REVV rewards will happen a few days after the end of the event, we’ll communicate on that in the Mining Event announcements.
Prosper is a non-custodial crosschain prediction market and hedging platform. Prosper is developing a unique technology of on-chain liquidity aggregation to solve problems of prediction markets landscape.
Core features of Prosper.so include:
- Cross-chain predictions support and on-chain liquidity aggregation
- Binary liquidity model
- Bet insurance
- User-owned predictions and options
- Fiat integration