PredictionDEX— Decentralized Prediction Market Using Blockchain Technology

Introduction

Predictiondex is a decentralized platform for predicting outcomes of future events. Using the power of blockchain technology to make predictions more transparent and accessible to all users, regardless of geographic location. PredictionDEX aims to be the number one decentralized web3 betting platform.

Market Categories

PredictionDEX is the world’s first prediction market platform on Zilliqa. The PredictionDEX platform allows users to create predictions for a wide selection of events and outcomes, ranging from political elections and sporting events to the accuracy of scientific research findings. Our goal is mainly to build a platform that allows anonymous predictions across various categories while being secure. You can also create or host your own events/games and let other users predict those events/games. The following are some categories that we will be launching in version 1:

• Sports: There is no doubt that this category is one of the most important categories on PredictionDEX. The PredictionDEX platform allows users to place bets on sports events throughout the world. Bet on the latest odds with PredictionDEX, on all major sports. The NFL, NHL, Football (Soccer), and other sports will be available on PredictionDEX in the V1.
• Crypto: Crypto is another interesting category to place your bet on. The event that is created and hosted by other users will allow you to Predict the next price position of your favorite cryptocurrency. You can also host an event and allow others to bet on it; after the outcome, you’ll receive 10% of the total prize pool.
• Politics: Imagine being able to predict how many votes the next president of the USA will receive or who the next president of the USA will be and earning rewards. PredictionDEX platform allows you to predict such political events and earn rewards. You can also host an event and allow others to bet on it; after the outcome, you’ll receive 10% of the total prize pool.
• Science: PredictionDEX allows you to give your own predictions about scientific events. You’ll be able to predict events like how many people will die from Brexit or whether a hurricane will hit Haiti. You can also host an event and allow others to bet on it; after the outcome, you’ll receive 10% of the total prize pool.

$BET Token:
Running on the Zilliqa blockchain, $BET tokens are ZRC-3 tokens. $BET, PredictionDEX’s token, is gaining popularity and recognition from both the betting and cryptocurrency communities.

At the time of writing this blog, the $BET token is valued at $0.160. $BET has a 2,000,000 total supply and is available at different DEXs like XCAD DEX, CarbSwap, and Zilswap.

How To? (Create Market, Host Market, Bet Market)

Create Market: PredictionDEX allows users to create markets and become market makers by providing event information. Market makers receive exclusive rewards. Follow these steps to Create a Market on PredictionDEX:

Step 1: Browse https://predictiondex.com/ (If you are using a cell phone browse through ZilPay dApp.)
Step 2: Connect your wallet.
Step 3: Navigate to User Market.
Step 4: Click on Create Market button.
Step 5: Fill out market information(Category of market, Sub-category, Title of market, Images [ max 2 ], Outcomes, Prediction kickstart, Prediction end time, Resolution resource, Cancellation Outcome).
Step 6: Submit the transaction.
Step 7: Wait for a success notification.

If your market is successfully hosted, You will receive 1% of the Total Pool as Xperience Points (XP). These XP points are tallied in the “Monthly Leaderboard” for receiving Monthly Reward For Top Predictor (MRTP).

Host Markets: PredictionDEX allows Users to host events using market makers’ event information. A user must have at least 75 $BET tokens to host an event: 25 for the hosting fee & 50 is wagered by the host on an outcome. Follow these steps to Host Market on PredictionDEX:

Step 1: Browse https://predictiondex.com/ (If you are using a cell phone browse through ZilPay dApp.)
Step 2: Connect your wallet.
Step 3: Navigate to the New Markets of your chosen category.
Step 4: Click on Host Now button of your preferred market.
Step 5: Select an outcome to place a seed bet. 75 $BET is the due amount.
Step 6: Submit the transaction.
Step 7: Wait for success notification(First-time users may require to confirm 2 transactions).

The host will receive 10% of the prize pool from each market + 75XP in the “Monthly Leaderboard” for receiving Monthly Reward For Top Predictor (MRTP).

Bet Markets: A user can bet on any live market for a certain outcome, and if predicted the correct outcome, will receive rewards from the prize pool. For a falsy result, the user can dispute the final outcome of the market. It is necessary for the user to wait until the end of the dispute time in order to claim the reward.

Step 1: Browse https://predictiondex.com/ (If you are using a cell phone browse through ZilPay dApp.)
Step 2: Connect your wallet.
Step 3: Navigate to the Live Market of your chosen category.
Step 4: Click on Bet Now button of your preferred market.
Step 5: Select an outcome to place a bet. The bet amount must be ≥ 50 $BET.
Step 6: Submit the transaction.
Step 7: Wait for success notification( First-time users may require to confirm 2 transactions).

The winner will receive 75% of the total prize pool + XP(equal to the Bet amount) in the “Monthly Leaderboard” for receiving Monthly Reward For Top Predictor (MRTP).

Claim Reward: A user can claim the reward for hosting the market, betting on the correct outcome, and becoming the monthly top predictor. Follow these steps to Host Market on PredictionDEX:

Step 1: Browse https://predictiondex.com/ (If you are using a cell phone browse through ZilPay dApp.)
Step 2: Connect your wallet.
Step 3: Navigate to User Profile.
Step 4: Select the My Games tab.
Step 5: Click the Claim All Rewards button or Click Claim Reward of each market.
Step 6: Submit the transaction.
Step 7: Wait for a success notification.

Host, Winner & Top Predictor will receive the reward in their wallet after a successful claim.

Resources:

• Testnet: https://staging.predictiondex.com/
• Documentation: https://docs.predictiondex.com
• Twitter: https://twitter.com/predectionDEX
• Discord:https://discord.com/invite/7JnEmTBd78