Swaperry Prediction Trading and an outstanding function of NFTs to be applied
We at Swaperry are very excited to introduce our very first product — Prediction Trading.
In a Nutshell
The simplest definition of prediction trading is that it helps users to ascertain when the right time to trade a cryptocurrency is. This also aids in the decision-making without worrying of its unbiasedness because its processes are all automated. Moreover, it is an advantage when it comes to adapting in various environments especially when it comes to real time changes.
Option Trading and Automated Market Maker
In order for Swaperry to assemble an advanced and distinctive prediction trading, we combined the ideas of option trading and automated market maker.
Option trading focuses on “options” which are contracts that allow purchasers to buy or sell a primary asset at a set price within a specific timeframe. When done right, it is actually a magnificent way to grow your investments and assets.
Automated Market Maker on the other hand offers more than the traditional exchanges. It is a decentralized exchange that offers pool liquidity from the users. It utilizes calculations to price assets in liquidity pools.
Leveraging concepts of the two, we created the prediction trading product of the platform that will be an advantage to traders with less risk and cheaper transactions.
Pool Creation
To understand better, here are some instructions on what to do in using the Prediction Trading of Swaperry.
In creating a betting pool, a user must set an expiry date and a strike price just like in option trading. Further, the user must make sure that he gives a matching number of blue and red tickets for fairness. After creating the pool, other users can start purchasing the blue and red tickets.
When a user buys a blue ticket, this means that he is betting that the price goes above strike price by expiry date. If a user buys a red ticket, this indicates that he is betting that the price goes below strike price by expiry date.
At the set expiration date:
- If the price is above the strike price, blue wins.
- If the price is below the strike price, red wins.
- If there is a circumstance where price and the strike price equals each other, the prediction and reward will be sent to the Treasury.
Ticket price will be in the form of BUSD plus PERRY. PERRY is the fee which will be burnt, and rewards will be given in BUSD.
In giving rewards, there will be 89% given for prediction,10% will be for lottery, the other 1% will be in treasury.
One more interesting fact to share: Anyone can create the pool ultimately, but at Swaperry, in the early stage, only our admin is allowed to do so. Swaperry can add money into the pool so as to increase the pot at any time, as a form of promotion. In the first phase, Swaperry will push promotion so participants can get more benefits.
NFT Achievements
When the pool expiry date hits, those who predicted correctly will receive the pool amount. However, whoever got it wrong could still earn NFT Achievements for losing! Here at Swaperry, we incorporate NFTs and some form of gaming.
NFT Features
NFTs must be the play-to-earn concept. Swaperry users can earn them by participating in our products.
NFTs should be tradeable, which means they must have some intrinsic value, as opposed to being just collectibles. For example, they can:
- Unlock new features on Swaperry.
- Give earners some advantages over others.
- Bring value in another product.
Achievement Concept
The nature of prediction trading is similar to gaming; therefore, it fits to add the play-to-earn element here. Concept of achievements within our prediction trading is introduced as below:
- Each achievement reduces the ticket price by some amount.
- There’s a limited number of NFTs rewarded to achievement earners. Therefore, once the NFTs are exhausted, you won’t be rewarded anymore.
- The price reduction is split among earners.
Reasons for users to earn an achievement
- Users will benefit from a huge temporary price reduction when they are the first to earn.
- Users can immediately sell to those who’ll take advantages from it with a high price if they are not interested in the reduction.
- The number of NFTs rewarded is limited, so you might miss out if you’re not promptly enough.
Reasons for users to buy/sell an achievement
- NFT has immediate present value: ticket price reduction.
- NFT has investment/future resale value. As the number of Swaperry users does rise along with that of NFT supply is limited, the price will go up.
Referral & Refund Program
There will also be rewards for referral. Once a client was referred by someone, the referrer will be granted rewards for each ticket the client purchased provided that the referrer owns their NFTs. The client must double check the wallet address of the referrer before entering it to the system. Referral rewards could be a share of the ticket price but it is subject to change depending on circumstances.
A refund will be conceded to the user if there is a technical problem in calculating the results ten minutes after the round expiration. The system will automatically invalidate the round and clients can claim their refund.
About Swaperry
Swaperry is a decentralized exchange (DEX) designed to be a highly performant, transparent, and feature-riched asset to traders. The company offers decentralized exchanges that allow users to trade in a non-custodial, secured and anonymous manner.
For more information, please take a look at:
Website: https://swaperry.com/
Twitter: https://twitter.com/SwaperryDex
Docs: https://docs.swaperry.com/
Telegram Announcement Channel: https://t.me/swaperry_ann
Telegram Group: https://t.me/swaperry
