OneSwap, a decentralized trading platform, will release a new feature called Prediction on April 29, 2022, it will be the first prediction market where users can win prizes by betting on the BTC/USDT price trend, and the initial prize pool is up to 1 million CETs. Meanwhile, OneSwap will also launch the “Ranking Reward Game” that will allow users to receive double rewards.
Predict to Win: How Prediction Works
Log into OneSwap and select CSC;
Connect to MetaMask, OneSwap Wallet or a wallet that supports WalletConnect;
Go to Prediction, choose an available module and click “Going Up” or “Going Down” to bet;
Enter the bet amount in CET (range: 10 CET – 10,000 CET per spin and address) and click “Submit”. Once the bet has been submitted, it cannot be modified. or cancelled.
Once the bet has been submitted, the user needs to wait for the current round to end. If a user bets on the right price trend, he will get his bet back and win prizes (note: it is possible to withdraw your prizes for multiple spins cumulatively, and prizes will remain valid indefinitely); if he bets on the wrong price trend (ie he bets in the opposite direction or the Locked Price is equal to the Settlement Price), the bet will be transferred to the prize. Here, let’s illustrate how prizes are distributed through two examples: Let’s assume the transaction fee is 5% and the initial premium contains 1,000,000 CET.
Of the two participants, one bet 10,000 CET and won; the other bet 5,000 CET and lost. Winner: Initial bet + Prize (with transaction fee subtracted) = 10,000 + 10,000 × 0.95 = 19,500 (CET); Loser: 0; After the first round, the prize pool is now: 1,000,000-9,500+5,000 = 995,500 (CET). Suppose the transaction fee remains at 5% and the initial premium now contains 995,500 CET.
Among the 201 participants, 200 bet 10,000 CET each and they all won, and one participant bet 5,000 CET and lost. In this case, as there is not enough CET in the prize for all 200 winners (9,500 CET per winner), the winning users will share the prize, with the transaction fee subtracted, according to the wagering ratio. Winners: Initial bet + Prize (the total prize shared by the bet ratio and with the transaction fee subtracted) = 10,000+995,500*0.95/200=14,728,625 (CET); Loser: 0; After the second round, the prize pool now contains 995,500*0.05+5,000=54,775 (CET)
if all CETs of the jackpot are won, the game will be suspended and the admin will start the game after replenishing the CET. When the Prediction price feed mechanism is suspended (the Cryptocurrency prices become unavailable at the end of a round), forecast contracts will not be able to perform any operations and the game will be suspended. In such cases, the participants’ bet on the current round will be returned at the end of the round. Access specific guides at: https://support.oneswap.net/hc/en-us
Become one of the top winners and earn amazing rewards
In addition to Prediction, the OneSwap will introduce Win Rate Ranking Reward Game at the same time. Users can register for the event before 9am, May 6 (UTC), and the first 3 winners who have placed at least 50 bets will receive 1,000 CET, 600 CET and 400 CET respectively.
Winning records of all users who placed a bet via Prediction will be covered by the Win Rate Ranking. Meanwhile, users can track their Win Rate by checking their bets and win records under: “Analysis” under “History”.
Breaking DEX’s High Limit: OneSwap Launches “Predict to Win”
In recent years, CEXs and DEXs have always remained rivals. Although the DEXs have made trading safer, they come with more complicated operations and are less user-friendly compared to CEXs, which scared off many potential investors. In terms of product design, Prediction reflects the idea of “simplicity”. By gamifying this new feature, OneSwap allows most users to participate in the feature easily, which lowers the DEX bar and makes it easier to use. Furthermore, relying on its market insights, users will be able to profit from market swings ahead of other investors via Prediction. At the moment, DEXs are no longer confined to trading. Instead, they are shifting to greater efficiency and established ecosystems. Like DEX, the OneSwap strives to become more innovative, optimized, efficient and secure.
The launch of Prediction will create a new earnings model: Predict to Win, which will bring more diversity to the DEX ecosystem and provide more satisfying DeFi experiences for users. Through innovation, OneSwap has pointed a new direction for the development of DEX ecosystems, and the Predict to Win will likely start another cryptocurrency boom
Disclaimer: This article is for informational purposes only and does not constitute investment advice or an offer to invest. CriptoFácil is not responsible for any content, products or services mentioned in this article. Also Read: YoBit Launches Global FUSD Token Airdrops Also Read: KuCoin Launches Bonus For KCS Token Owners Also Read: Top 5 NFT Games to Win and Invest in 2022