Gamified Bitcoin and Ethereum Price Forecasts Are Added to the BNB Chain by PancakeSwap
Leading decentralized exchange PancakeSwap has added Ethereum ($4 655) and Bitcoin ($115 811) to its prediction market feature. The program, which is among the most widely used DeFi applications, adds two of the biggest digital assets to the current BNB market by enabling users to predict price movements in quick, five-minute rounds.
The feature is meant for quick engagement and runs on the BNB Chain. An official blog post dated September 12 states that users can wager on whether the price of an asset will increase or decrease over the five minutes.
How the Predictions Work
Users must choose an asset from the “Prediction” area in order to take part. After that, they determine whether the price will end the round higher (“UP”) or lower (“DOWN”) than it began. Every forecast is made using BNB, and each entry must have a minimum of 0.001 BNB.
As more individuals make predictions, the overall prize fund for each round increases in real time. A dynamic payout system is created for every five-minute session, with the possible reward multiplier changing according to the volume of bets for “UP” against “DOWN.”
Winners can get their prizes right away when a round is over. Users can also examine and collect winnings from all prior rounds at any time using the platform’s dedicated history tab.A 3% fee on all winning bets contributes to the weekly CAKE token burn, integrating the feature into the platform’s tokenomics.
A Gamified Approach to Market Prediction
PancakeSwap’s market structure sets it apart from other DeFi prediction platforms by emphasizing short-term, binary outcomes. Binary options, where the proposition is a straightforward yes-or-no wager on price action, are quite similar to its model.
The gamified experience created by this design aims to increase user engagement. For users who would rather engage in fast-paced activities than engage in long-term speculation, the instantaneous five-minute resolution offers immediate results.
BNB and other volatile assets are especially well-suited for the concept. The timing is noteworthy since, on September 10, two days prior to the announcement of this feature’s expansion, the token reached a new record price of $907.33.
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