PREDers, we are proud to announce that we have built the world's first crypto-assets price prediction DAO where winners and losers earn. This is the first of its kind and we appreciate each and everyone of you for tagging along with us to achieve this milestone.
As most of you know, our goal is to decentralize and redefine crypto-assets price prediction. Apart from making the predictions public for the world to see, we have created a platform that rewards all predictors. We present to you our first version from our series of crypto-assets price predictions.
Price Prediction V1: Price Prediction Redefined
The Price Prediction V1 will go live on the 1st of November 17:00 UTC on predictcoin.finance/prediction. There would be a 7 day countdown and users can start predicting on the 8th of November 13:00 UTC. We want our loyal users to fully understand this product before it goes live, and even after they should be able to strategize to reduce risks and maximize their earnings before predictions begin.
Every week users can predict on 5 different coins on Predictcoin with PRED. Each coin has only 10 seats to accept predictions and each prediction costs 10 PRED, you can only predict once from one wallet per week. (This means only 50 seats available in total per week and 500 PRED retrieved). Those who try to predict after seats are filled will be unsuccessful, they can withdraw their 10 PRED back anytime and wait for next week.
A position will open on Monday 13:00 UTC, and users can secure their seats by choosing either Bull or Bear (Up or Down). On Friday 13:00 UTC the positions closes, it's also worthy to note that the percentage of those who chose Up or Down will already be visible for the world to see. The ones with the right predictions will be redirected to stake PRED to earn PRED at a very high APR, while the ones who predicted wrongly will be redirected to stake PRED to earn BNB at a very high APR. Only the wallets they predicted with can stake.
Currently 0.005 PRED per block is distributed to farming & staking:
0.001 PRED>PRED pool (20x)
0.001 PRED-BNB LP pool (20x)
0.001 PRED-BUSD LP pool (20x)
0.002 PRED-USDT LP pool (40x)
When Price Prediction goes live it would be:
0.00025 PRED>PRED pool (5X)
0.0005 PRED-BNB LP pool (10X)
0.00025 PRED-BUSD LP pool (5X)
0.00025 PRED-USDT LP pool (5X)
0.00375 Predict Pool (75X)
The Predict Pool
The PRED (Predict Pool) APR would be so high that winners of the prediction should be able to get almost double of their PRED staked for that week. Yes, new week, new predict pools and you have to win your prediction to gain access for that week. Maximum stake per wallet is 100 PRED.
The BNB (Predict Pool) for losers would be 1/5 of the APR of the PRED (Predict Pool). Meaning if the PRED pool starts at 100,000% APR, the BNB Pool would start at 20,000%. However, keep in mind that APRs can fluctuate depending on how many losers we have for that week and how much PRED were staked.
The BNB is a compensation to losers as we thank them for participating and keep trying. Maximum stake per wallet is also 100 PRED. Now you may ask, how are we getting the BNB for losers? The BNB needed for the first month is already available. However, welcome the Predict Bid.
The Predict Bid
We reckon the 50 seats will always be filled within seconds, because let's face it, anyone who got a seat will get value. And you can use several wallets to predict and secure your seats to increase your chances of earning more.
To give more people a chance, every month one user stand a chance to gain access to the main PRED (Predict Pool) without predicting. All they need to do is bid with BNB, just like an auction. The highest bidder will be able to gain access to the Pool for a whole month (4 weeks).
The BNB the user bids with will be retrieved by us, while others with lower bids can safely withdraw their BNB and try again the next month. Bids starts at 1 BNB and the Predict Bid starts from the month of December.
We all know PRED is already a deflationary digital currency. However, one of our goals is to further reduce the number of PRED in circulation to quickly drive up the price for our investors.
500 PRED would be retrieved weekly through the predictions and below are where they would go to.
10% (50 PRED) would be burnt forever weekly
30% (150 PRED) would be kept as reserve
60% (300 PRED) would be sent to Staking/Farming/Predict Pool contracts
During our IPO 12,650 PRED (12% of total supply) were automatically burnt forever. With the price prediction 50 PRED (0.05%) of total supply should be added to the manual burn weekly.
That's not all, the NFT marketplace launching in the next couple of months is also designed to burn more PRED. Unlike the predict bid, the NFT marketplace requires PRED to bid on NFTs, Predictcoin NFT holders can predict on a coin weekly without paying the 10 PRED predicting fee. Our goal is to burn at least 1% of total supply monthly, more burning mechanism will be implemented in the future.
How to prepare for the Price Prediction
To fully prepare for the price prediction, you are advised to hodl at least 110 PRED on the wallet or wallets you want to use, to maximize your earnings. If you predict with 10 PRED and stake with just another 10 PRED in the Predict Pool, you won't earn much or nothing at all by the end of the week. The max stake per wallet for the Predict Pools is 100 PRED, it's highly recommended you utilize it to maximize your earnings. You can also predict with more than one wallets, if you're fast enough.
• Example 1: You predict with 10 PRED and won, so you stake 10 PRED to the Predict pool. At the end of the week you earned 8 PRED (almost double of your staked PRED), but you're in 2 PRED loss.
-10 + 8 = -2
• Example 2: You predict with 10 PRED and won, so you stake 100 PRED to the Predict pool. At the end of the week you earned 70 PRED (almost double of your staked PRED), you're in 60 PRED profits.
-10 + 70 = +60
- In essence, the more PRED you stake into the Predict Pools, the higher your rewards.
How High are the Predict Pools' APR?
High enough. APRs can't be specifically calculated, because it depends on tons of factors, like the amount of winners/losers and number of people who staked in the PRED pool or the BNB Pool. Only 50 wallets can predict a week, so the numbers are already low to maintain a high APR.
At Predictcoin, we are always focusing on building and not moved by the price, because we know we are here for the long-term and forever. Also, if you stop by our GitHub, you’ll see that all our smart contracts were custom written by us, we don’t fork other projects. We innovate!
Below are what you should be expecting next and when:
- December: The Predict Bid
February: Voting (Governance)
March: NFT Marketplace
While these are our main builds and are subject to change, there would be some minor updates, for example we will be redesigning our Homepage and would also add unexpected features to our DApp. Stay tuned!