TL;DR

PancakeSwap has announced the launch of a prediction market on Arbitrum powered by AI and offering substantial prizes for participants.
The platform aims to expand its ecosystem through new functionalities on Arbitrum, with price predictions occurring every 10 minutes.
A 9-week campaign will be launched with $60,000 in ARB as prizes. It will feature attractive elements such as loss protection and rewards based on prediction volume. Users can choose to follow or counter predictions.

PancakeSwap has announced the launch of a prediction market on Arbitrum, integrating an AI-powered price feed provided by Allora. This new functionality allows platform users to predict price movements of tokens like Ethereum (ETH) every 10 minutes, with the opportunity to win part of the prizes offered in each round.

PancakeSwap’s prediction market on Arbitrum will expand its ecosystem, complementing existing features such as Swap, Yield Farming, Syrup Pools, Perpetuals, and Options Trading. The goal is to provide a wide range of tools and opportunities to its user base through the Arbitrum network.

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

9-week campaign with 60,000 ARB in rewards
Up to 100% Fund Protection

Predict, compete, and win on PancakeSwap… pic.twitter.com/wYjDfCy8Tu

— PancakeSwap v4 (@PancakeSwap) June 26, 2024

PancakeSwap Prepares a Campaign with Big Prizes

To launch the platform, PancakeSwap has initiated a 9-week campaign with a total prize pool of $60,000 in ARB. The campaign includes various prize categories designed to attract and reward user participation. Highlights include loss protection, rewards for high-volume predictions, random draws, and bonuses for net winnings. Users can opt to align with AI predictions using the “Follow” option or challenge them by selecting “Against.”

According to CoinMarketCap, Arbitrum (ARB) is currently down by 4.6% in the last 24 hours, trading at $0.7996 per unit, with a market capitalization close to $2.58 billion.

Additionally, PancakeSwap emphasizes the use of fees generated from each prediction market round. A 3% portion of these fees goes to the treasury, with some allocated for ARB buybacks and burns. The rewards and reinvestment structure was designed to strengthen the platform’s commitment to sustainability and healthy community growth.

The campaign is open to all users interested in participating in predictions, encouraging active engagement and offering significant incentives to users.

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Filed under: News - @ June 26, 2024 5:38 pm