MEXC Research: X Predict Market: A Prediction Market Project Based on An Original Cross-Chain Protocol
X Predict Market
X Predict Market is a prediction market project based on an original cross-chain protocol. The project is designed to provide a diverse, automated, security-oriented, high-yield social prediction service that allows users to freely initiate the prediction and governance of real events.
Users can freely initiate the prediction and governance of real events, discuss and participate in incentive plans. As the mechanism for the transfer of data off-chain and on-chain, Oracles can accurately write real-world data to the blockchain, such as for financial derivatives trading platforms, lending platforms, shipment tracking/IoT, stablecoin, insurance, market prediction, and others. At present, its main field is DeFi. Oracles can accurately provide core data such as information about the transaction price and fluctuation rate to Defi protocols to ensure the smooth operation of the Defi protocols.
Spontaneous Prediction: Users initiate prediction questions, and initiators receive a percentage of the prediction rewards to encourage users to spontaneously initiate various interesting topics and promote them to attract more attention.
Community Self-governance: Any user can become a node by staking some kind of governance cryptocurrency. The governance node uploads the results through the oracles, accepts network-wide supervision, and shares the revenue between platforms.
Social System: X Predict Market can also be an enthusiastic way to socialize. Through discussing topics related to predictions, it forms a fully functional communication system packed with socialization functions.
Multiple Rewards: Users can also predict mining rewards, staking rewards, predict leaderboard rewards, liquidity provision, mine rewards, and others. In addition, there are additional rewards for predicting theme sponsors and community nodes.
Cross-chain Assets: Based on Polkadot’s cross-chain protocol, the platform will support cross-chain assets’ participation and become an independent parachain in the future.
PFMM: References the automated market maker’s (AMM) new fixed products to automatically make markets and adjust and predict the value of token automatically. PFMM does not need to support the order book in depth and enhances liquidity.
Prediction Market Use Cases:
Risk Hedging: Farmers in a region, for example, can hedge drought risk by predicting rainfall. If there is plenty of rain, there is a good harvest. If not, then farmers can get hedge profits.
Investigation of Truth: Only a small number of people may only know the truth in some cases. People can suggest to someone who is willing to disclose the truth for a reward or, optionally, choose a group of suspects. Those who know the truth will be incentivized, and the market will disclose the truth with evidence. Restores the truth to the world and allows insiders to profit from this while remaining anonymous for security reasons.
Native Token: POT
Total Supply: 21 million tokens
Ecosystem: 15%, for marketing, partners, and launch of the trading platform
Team and advisors: 10%, 10% unlocked at launch, 30% unlocked quarterly afterward
Liquidity Fund: 20%, Platform liquidity funds such as Uniswap
Pool Reserved for Mining: 35%, Network incentive after mainnet launches
Practical Value Analysis
Ecosystem governance such as community voting
Participate in staking to become nodes
Partial cash-out by team and ecosystem
Partial cash-out by fundraisers