πŸ’™ Are you a DApp? We are helping DApps reach out to more users with our promotion serviceΒ Contact us now!
2020-11-06


PredIQt Launch MindSwap to Enhance Prediction Markets

prediqt-launch-mindswap-to-enhance-prediction-markets

PredIQt launched a new automated market maker service: MindSwap. MindSwap joins the list of services supplied by the IQ tokens, and will enhance the liquidity of prediction markets.

Generally Prediction Markets suffer from a very low liquidity, which does not allow efficient trading for its users, thus limiting the user experience and the activity. By ensuring liquidity in these markets, traders will be assured in the purchase or selling of Prediction Market Shares, and will be able to finalize their decisions in an appropriate manner, and in real time.

According to the PredIQt team's description, MindSwap works in a similar way to Uniswap, but for prediction market shares. Uniswap managed to drastically improve the user experience on DeFi tokens trading, which is also limited by very low liquidity. With Uniswap it is possible to trade any token-pair in a simple way, as well as earn market makers fees. In this way many new tokens have been able to leverage the liquidity guaranteed by Uniswap, to grow organically.

Likewise, using MindSwap, users of prediction markets will be assured to find liquidity for their predictions by paying a 0.7% fee for each trade. The solution of MindSwap is to create a tradable EOS token for the prediction market shares users want to trade. These will then be deposited into liquidity pools along with an equal amount of IQ tokens. In this way, anyone can become a liquidity provider by depositing the IQ tokens into liquidity pools to start earning fees, and thus provide liquidity to any prediction market.


Sources:

Suggested News