Betting is very famous, not only among crypto traders. Imagine a dApp where you can place a bet on the outcome on any possible event, without needing the permission of a third party to do so, while at the same time controlling your funds. Such a place exists, and the Ethereum blockchain enables it. Even though it’s not allowing you to place bets in a conventional sense, it is very similar and offers an excellent opportunity to make profits.
What is PlotX?
PlotX is a decentralized prediction marketplace that is focused on native crypto markets. It is controlled and driven by the community. The basic idea is to profit from the crowd’s wisdom, meaning that larger groups of people are smarter than single experts. PlotX is a protocol that allows its users to benefit from being right with their own predictions. Those predictions can be as simple as predicting if Bitcoin’s price will be higher or lower by tomorrow. While many markets involve some sort of subjectivity, PlotX is focussing on mathematical settlements. Meaning that the results are undisputable since the available markets are mathematically determined. Because of the fact that these prediction markets are very similar to futures, it is also possible to leverage one’s prediction. PlotX offers up to 5x leverage to traders. Such a high leveraged bet would require to place 100% of the staked assets. While a standard 1x leveraged prediction only requires 20%. Let’s say the trader is wrong, and the Bitcoin price is lower by tomorrow. In the case of a 5x leveraged prediction, he would lose all of his assets, but if he wins, then he gets five times more.
The PLOT Token
The native token of the Plotx protocol is called PLOT. If a marketplace is opened with PlotX it requires that a fee is either paid in ETH or PLOT. PLOT is also used in PlotX own governance and liquidity mining programs, which will reward both participants with the PLOT token. Among the variety of options to use PLOT there is also a referral program. Referring new users will be rewarded with bPLOT which is 1:1 with PLOT, but can only be used to place bets on PlotX. PLOT itself will also be stackable to enable users to earn more rewards.
Solid scaling Solutions
The Ethereum blockchain offers a truly decentralized network with great security. However, a prediction market is highly dependent on execution speed. With the rising demand for DeFi and other dApps, speed and fees are getting more problematic. While waiting for Ethereum 2.0 to solve those issues, PlotX is partnering with other projects to remain solid during this transition and beyond. Matic Network is PlotX choice as a second layer solution and will provide the necessary expertise and reliability to speed up the prediction market.
Our PlotX-SHO article: https://blockstern.io/plotx-community-presale-powered-by-dao-maker-third-sho-of-the-year/
PlotX Review by DAO Maker: https://daomaker.com/sho/plotx
Read up on the PlotX whitepaper: https://docsend.com/view/nnea7um4434u49uh
Check out the website: https://plotx.io/
Join the Telegram Community: https://t.me/plotx_official