I first learned about prediction markets due to Gnosis and Augur during the ICO boom. Both of these projects had started years prior and launched their Tokens (GNO and REP) under very favourable market conditions. Although the projects were doing great in terms of finances, they did not manage to onboard enough users and build a massive trading volume. It is Polymarket that first managed to break into the mainstream with prediction markets.

Start With A Guided Tour

The DAPP being easy to get started with is very important for user onboarding. We are not going through times where we could be picky about having technically savvy users. We need to bring in anyone with the interest and hold their hand through the process.

The UI/UX is excellent and I manage to have a very smooth experience. Even for those who have not taken a look at Polymarket, PredictIt should feel mostly intuitive. The screenshots are from the launch day. I only had 2 options for when it comes to connecting a wallet. Current experience should be even more improved.

Get Free ACE

ACE is the stablecoin launched by @leostrategy team that use $LEO as collateral. The Presale is still ongoing and PredictIt brings in more demand for it. This is not a compulsory step. Anyone can get started with $HIVE or $HBD and they will have ACE in their account.

Having these behind the scene complexities taken care of while offering the flexibility for advanced users is a great thing. I am not a fan of dumbing things down. Keep in mind that the risk of sending cryptocurrency to @predictit is the same as a using a bridge/wrapped asset. Risk is a natural part of life. I am happy to make asymmetric bets on it.

First 50 Get Extra 5 ACE

There is space left for few more users to try out predictions markets on HIVE and have extra funds to test out their predictive skills. A total of 15 ACE can be accessed for free by depositing a total of 10 ACE. That is exactly what I did and I recommend users to try it out. The risk to reward ratio is very good IMHO.

Prediction Results + First Impressions

Let me start by saying that the only negatives I could think of was the low volume/liquidity of the markets and the low number of markets available to make predictions on. Everything else worked out good with no issues.

Some of the markets take months to resolve. I have only the short term prediction results to show. I am currently part of the Top 10 in the leaderboard I am already at a good APR for what I invested. It would be very interesting to see how much I can grow my account after taking out the initial 10 ACE after some time. The goal is to get paid to be right.

Market Agnostic Revenue

Prediction markets do not require a bull market of any variety to generate revenue. It can facilitate bets of various kinds of events generate revenue through fees. Prediction markets depend on userbase; not market conditions. This is a very important move for @leostrategy and everything else supporting it (LEO, HIVE and to a lesser extent, Base). All the profits of PredictIt gets invested in the ecosystem. The founders are getting rich along with the LSTR and $LEO holders.

If you love HIVE, promote the builders and bring in more users to a decentralized censorship resistant network. We can replicate the viral DAPPs and offer them on a feeless blockchain with built in social media functions. So get to work and do what you can to bring in outsiders!

Posted Using INLEO