The ability to accurately predict the future has often held stock market participants in thrall. Over the past years, with the emergence of decentralized finance (DeFi), and a thriving DeFi community, crypto prediction markets have been rising in popularity, with several new players entering the game. One of the primary attractions of decentralized prediction platforms has been their ability to operate without requiring a third party to administer trades and bets.
PRDT Finance, the first fully decentralized cross-chain prediction platform, turned 1 last month, which is already an impressive achievement in the DeFi space.
The developers of this young company believe it is a milestone worth celebrating, given all the great improvements and innovation they have brought to their platform through their hard work and dedication.
PRDT Finance was initially launched to run on Binance Smart Chain (BSC) and Polygon blockchains. Since its inception, PRDT’s developers have fine-tuned their platform to offer many more options to traders and have extended their reach to more people by making it available on multiple blockchains.
PRDT users may place bets on the value of an asset and earn in multiples based on their insightful market forecasts. This is facilitated through the use of smart contracts, which execute autonomously and without input from centralized authorities as soon as certain conditions are met.
The predictions are run in a decentralized manner through the use of Binance application programming interfaces (APIs), the mechanism by which software components can communicate with each other, which pull the most up-to-date and accurate asset prices for all crypto markets.
PRDT has collaborated with the Chainlink oracle network, which allows it to securely interact with external data feeds and provides off-chain information needed by the smart contracts to execute the underlying digital agreements.
This enables greater security during predictions by preventing interference with the starting price, locked price or closing price of each round of predictions.
The PRDT platform currently supports predictions on Bitcoin BTC/USD, Binance Coin BNB/USD, Ethereum ETH/USD, Polygon MATIC/USD and more.
The company has notable partnerships and collaborations including with Venus Protocol, ApeSwap and QuickSwap by including their predictions game on these websites.
Two Versions, Multiple Currency Options, And Great Rewards?
With the current version of PRDT V2 the time frames for betting on BSC could vary from 3 minutes to 15min based on the currency. BNB and BTC at 5min, 15min for ETH, and on Polygon 3min for BTC, as well as 5min for MATIC and TSLA.
Users can place a bet on a new round every time the current round ends. Multipliers can vary depending on the amounts on each side of the prize pool. For example, If there are more bets up than down the multiplier for down will be bigger.
Last month PRDT announced a new version of its platform: PRDT PRO, which provides users with more options and more control over aspects of their preferred style of trading.
This new version will be launching on Tuesday November 15th at 2pm UTC on the PRDT website.
PRDT PRO is a revolutionary product running on Polygon and credits Polygon’s fast-growing ecosystem and efficient gas optimization solution with making innovative features on PRO possible.
With the PRO version, users may choose a timeframe from three minutes up to 30 minutes, increasing the decision-making window. Crypto as well as stocks and forex assets will be available for predictions.
Users may also place as many predictions as they like, which will all start immediately unlike the wait time involved in V2. Multipliers will be locked in at 1.8 times and treasury fees are fully waived.
PRDT V2 will remain available for users who wish to keep using it even after PRO goes live at the end of November.
Both versions will have the High Roller Arena feature where every two weeks, the top five players in terms of volume could earn $2,000 in prizes.
The company’s referral system also helps users earn additional income by referring friends to PRDT.
A Year Focused On Improving Technology And Gaining New Strategic Partnerships
PRDT says that its development team’s focus has been on improving the effectiveness of its smart contracts, basing its innovative new developments on the comprehensive research available from player feedback.
The company reports that with its improved technology, its V2 smart contract upgrades have dramatically increased the speed at which price feeds and APIs are fetched. And their work on the smart contracts for the new version — V3 — has enabled features on PRO that give players the flexibility to start a round at any moment with a custom timer, and the ability to play in multiple currencies including stablecoins.
The company says that one of the most promising new features it has implemented is that users can now claim all their winnings in one click, giving them a much-improved user experience.
As well as all of the previously mentioned partnerships, PRDT has collaborated with Niob Finance, Atlantis Loans, and more.
We are expecting to see many more strategic partnerships and collaborations with leading projects and DApps (decentralized apps) in the future as adding predictions creates a new revenue source for any project that wishes to integrate PRDT.
What’s Next For PRDT?
PRDT is working on debuting the PRDT Token, which will represent a share of the company for the holder.
Once launched, individuals would be able to stake their PRDT Tokens to procure distinctive advantages and benefits across the platform, which may include a reduction of prediction fees, the ability to earn a share of the platform’s profits and the ability to unlock special advantages and features across the platform.
PRDT is now listed on DefiLlama, one of the biggest total value locked (TVL) aggregators, which is known for its reliable data in tracking well-known chains, and will be featured on its reports going forward.
Check out how to get started on your prediction journey by going here.
To learn more about PRDT Finance, visit its webpage.
This content is for informational purposes only and is not intended to be investing advice.
Featured photo by Kanchanara on Unsplash
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