Plotx – Predict and Win | Stay updated on DeFi Prediction Markets using EPNS.

Decentralized Finance (DeFi) is very complex in nature. For an average joe, it can be very intimidating to enter this space as not only everything on the DeFi platform can seem gibberish to him, but he can also lose good money.

Due to the volatile and complex nature of the DeFi space, investors have come to rely on predictive markets. Predictive markets help users place safe bets on the investments they want to make this is return has made the predictive market an important price forecasting or predicting tool. The use of these predictive markets is not just limited to long-term investments but also for day-trading and short-term spot trading.

What are Predictive Markets?

A prediction marketplace is a kind of derivatives marketplace, primarily based totally on the precept of the “wisdom of the group”.

It is a market where contracts that depend on the contingency of the occurrence of future events are traded. They are also known as betting markets as bets are placed on events that are uncertain. The more people participate in a predictive market the more information and data can be gathered and the more effective the predictive market becomes.

“Wisdom of the group” dictates that the collective opinion of a collection of people is substantially much more accurate than that of a single expert.

To take benefit of this precept, prediction markets permit us to expect the effects of unknown future events by letting users predict or bet on different alternatives and options that constitute and represent varying potential outcomes of the event.

Based on the interest of the crowd in a selected option over the others dictates the market price changes. These markets can, thus, suggest what the group thinks the chance of a particular outcome is.

The number one priority of prediction markets is to gather crowdsourced ideas about unknown future events. This statistics is then used to make key decisions.

What is Plotx?

Plotx was launched on 4th August 2020 on the Ethereum Kovan test network.

Plotx wants to make DeFi trading less confusing, simple, and fun.

It is a decentralized cross-chain DeFi prediction market for Crypto traders. It enables crypto-traders to make crypto-asset-related predictions and earn rewards on their high-yielding crypto market predictions in a fast and simple way.

It provides users with an opportunity to make predictions on the most exciting cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Polygon Matic (Matic), Binance (BNB), DOGE, Shiba Inu (SHIB) or Solana (SOL), and earn every 1 hour, 1 day, and 1 week.

Drawing its motivation from Uniswap, Plotx works with an Automated Market Maker (AMM) algorithm, computer programs that are part of decentralized exchanges (DEXs) that power DEXs and eliminate intermediaries in the trading of the crypto market and automate the process of providing liquidity or smart contracts that let anyone deposit cryptocurrency in a liquidity pool. The AMM algorithm is used to calculate options by taking into account the technical and sentimental analysis. AMM algorithm creates, settles markets, and, distributes rewards on the Ethereum Blockchain securely. On-chain governance by GovBlocks is used by Plotx.

What is the need for Plotx?

Traditional predictive markets are usually non-crypto-centric and they suffer from the following:

-High Cost

-Non-verifiable fair settlements

-Counterparty Risks

-Time Lag

-Interference of intermediaries

DeFi ecosystem still lacks an innovative crypto-native prediction market. Previous attempts to launch the crypto-native prediction market on Ethereum failed due to an immature ecosystem back in 2017-18 and suffered due to a lack of attention given to building crypto-native markets.

Plotx aims to create a crypto-native DeFi prediction protocol with the following key values:

-Focus of the prediction market will not be on sports or politics it will be on crypto-assets like BTC, ETH, SOL, Matic, etc.

-Market creation will be through smart contracts and not through people.

-Instead of the creation of low liquidity order books, instant on-chain price per position calculations and purchases will be carried out.

Plotx will provide its users with features like:

-Gas free trades

-Guaranteed rewards for correct predictions

-Decentralized and non-custodial protocols

-Smart contracts that are secure and audited

-Short Market Cycles

-Community Governance

-Login through wallets like MetaMask, WalletConnect, or Email.

How can you interact with Plotx?

A. Select a Market

Example: Will ETH to USD go up or down on May 17, 2022, at 2.00 pm?

B. Select an Option

There are three options in each market. Example:

-Going up>$4011

-Staying Flat: $3100 to $3850

-Going down: <$3060

C. Make Prediction

Select the option, after that choose the currency you intend to use, enter the amount, and make the gas-free transaction to finish the prediction process.

D. Claim your Rewards

You will receive guaranteed rewards if your prediction is accurate at the time of settlement.

What will the collaboration between EPNS and Plotx entail?

On Plotx, hourly, daily, and weekly crypto-asset-related predictions are made. To exploit the traction gained on the Plotx platform, plotx has acknowledged the need for Push notifications that can be sent to the users on a timely basis so that they can participate and engage with the platform efficiently and promptly without putting at risk the non-custodial and decentralized nature of the application.

Owing to the simplicity of the design and interface of the application, Plotx is known as the Uniswap of Prediction Market. Plotx focuses primarily on its user interface and through its features like cross-chain swaps, gas-free predictions, and several new and exciting markets, etc as a consequence of this, the app seems attractive and user-friendly to its users.

At present, Plotx users rely on centralized notification channels like Telegram, Discord, and Twitter for receiving updates about the market.

But a decentralized notification channel will help users and crypto traders benefit abundantly from oracle price feeds distribution of rewards, new markets on an hourly, daily, and weekly basis, and new in-app events.

EPNS can serve this purpose, it can provide instant decentralized push notifications to the users of Plotx through a single and direct communication channel. EPNS will send push notifications directly to the user’s linked digital wallets.

PLotx users will receive all prediction market notifications directly through push notifications and that will enable the users to take immediate action. As a long-term vision EPNS, a push notification service will become an integral service for Plotx users. Several new EPNS notification channels will be launched as prediction markets become the main price forecasting tool in DeFi soon.

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