[PancakeSwap launches artificial intelligence-driven prediction market]
PancakeSwap now integrates Allora’s advanced machine learning models, providing predictive capabilities never before seen on the platform.
Over the past three years, Allora Labs (formerly Upshot) has developed models that predict the prices of more than 400 million assets. This expertise is now available to PancakeSwap users, combining AI-driven insights with an active trading environment.
Chef Gyoza, product manager at PancakeSwap, said: “We are excited to integrate Allora’s AI model into our prediction market. Now, our users can compare their prediction skills with AI, which will create Another exciting form of prediction.”
In this new AI-driven prediction market, users can predict the future price movements of cryptocurrencies such as Ethereum (ETH). Successful predictions will earn participants a share of the prize pool, increasing participation with AI-enhanced accuracy.
Nick Emmons, co-founder of Allora Labs, said: “Our work with PancakeSwap is a perfect example of how AI can be used for new applications in DeFi. As AI and cryptocurrency converge, prediction markets are on the verge of a major shift that will Greatly expand its role in society."
Allora's AI model first predicts asset price trends, and then users place bets based on the AI's predictions to support or oppose the AI's predictions. Payments are based on the performance of the AI, and the structure adjusts over time to remain fair and challenging. Currently, PancakeSwap’s prediction market only focuses on cryptocurrency prices.
Additionally, platforms like Polymarket are making headway in prediction markets, covering a wider range of topics than cryptocurrencies. In May, Ethereum co-founder Vitalik Buterin and PayPal co-founder Peter Thiel invested $70 million in backing Polymarket, highlighting its importance in prediction markets. The platform allows users to participate in global events in real time and provides a decentralized prediction environment.
The integration of PancakeSwap and its cooperation with Allora has injected new vitality into the DeFi industry, indicating that AI-driven prediction markets will become an important development direction in the future.
