Decentralized exchange (DEX) PancakeSwap announced it has launched an AI prediction market on Arbitrum. This market integrates AI-driven price information sourced from the decentralized AI network Allora. Allora enables applications to utilize advanced AI capabilities that are continuously enhanced through a network of machine learning (ML) models.
The new tool enables traders to predict the price fluctuations of tokens like ETH at ten-minute intervals, offering opportunities to win a portion of the prize pool for each round.
To utilize the feature, users should navigate to the PancakeSwap platform, choose the Prediction section, opt for Arbitrum, and choose a round in which they wish to take part. Individuals can base their predictions on AI forecasts or make their own prognoses. They are then prompted to enter their prediction amount, confirm transactions, and sign in to their wallet. Following the round closure in ten minutes, users can collect any winnings.
PancakeSwap’s AI-Prediction Market is now live on @Arbitrum, powered by @AlloraNetwork
Predict $ETH price movements to win a share of the prize pool
10-week campaign with 60,000 ARB in rewards
Up to 100% Fund Protection
Predict, compete, and win on PancakeSwap… pic.twitter.com/C49YycWlfj
— PancakeSwap v4
(@PancakeSwap) June 26, 2024
PancakeSwap Launches Three-Month Campaign With 60,000 ARB Reward Pool For ETH Price Predictions
To celebrate the launch, PancakeSwap has initiated a three-month campaign where participants are encouraged to forecast the price movements of ETH to compete for a share of a total of 60,000 ARB in rewards.
The activity comprises four weekly tasks, each starting and concluding weekly. Notably, participants can receive refunds of up to 100% of their losses based on total eligible losses, with each user’s losses protected by a weekly reserve of 3,000 ARB.
Additionally, the top ten users with the highest volume of predictions will collectively share a reward pool of 1,500 ARB. To qualify, users must accumulate a minimum volume of $1,000 weekly. Furthermore, each week, ten randomly selected users who make at least three predictions will each win 100 ARB.
Also, the top two users with the highest net winnings will each win 500 ARB weekly. To participate, individuals must meet the weekly minimum accumulated volume requirement of $1,000.
PancakeSwap is a decentralized finance (DeFi) platform designed for cryptocurrency trading, reward earning through staking and farming, participation in lotteries, and governance voting. It operates on the Binance Smart Chain, prioritizing efficient transactions with low fees.
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