Uniswap of Prediction Markets, Non-Custodial PlotX, To Be Listed on BitMax
BitMax.io (BTMX.com), an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of PlotX’s PLOT token under the trading pair of PLOT/USDT on November 13th at 10:00 a.m. EST.
PlotX is a non-custodial prediction market protocol that allows users to create, settle markets and distribute rewards on the Ethereum Blockchain without any counter-party risk. The platform is the world’s first automated market making (AMM) driven prediction market, earning it the nickname ‘the Uniswap of prediction markets.’
Prediction markets can be valuable sources of crowd sentiment data given sufficient user participation. PlotX aims to solve the challenges other prediction markets traditionally face in gaining adoption, specifically cumbersome user experiences and illiquid markets. By leveraging automated market making, PlotX can accommodate shorter market cycles, ranging from one week to as little as one hour. Shorter market cycles and an intuitive, “five clicks to predict” user interface give users more opportunities to participate and encourage higher liquidity on the platform.
The platform’s utility token, PLOT, serves as the medium of exchange between participants in PlotX prediction markets. The token acts as the mechanism for community governance of the protocol and enables holders to participate in multiple reward-generating activities including AMM mining, referral mining, and liquidity mining.
Core components of PlotX, like governance and staking, are built directly on Ethereum, with smart contracts driving instant, on-chain settlement and rewards distribution. Market creation, participation, and settlement are shifting to an L2 solution for greater speed to accommodate platform’s hallmark shorter market cycles and reduce gas costs for users.
The launch of PLOT trading on the BitMax platform is the first step in a long-term strategic partnership between PlotX and BitMax. The exchange will support PLOT staking, with a high-yield pre-staking program scheduled for Q4’2020. This listing will open up the PlotX protocol to BitMax.io users while giving PLOT holders additional means to utilize their tokens.
Launched in August 2018, BitMax.io is a leading digital asset trading platform with a broad range of financial products and services for both retail and institutional clients, with robust design ranging from innovative volatility products to margin trading, derivatives trading, staking products, and other investment solutions.
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PlotX is a live, non-custodial prediction market protocol that enables users to earn rewards on high-yield prediction markets. Dubbed as the Uniswap of Prediction Markets, PlotX uses an Automated Market Making algorithm to create, settle markets and distribute rewards on the Ethereum Blockchain without any counter-party risk. Markets are focused on crypto-pairs like BTC, ETH, YFI etc and are automatically created in intervals of 1 hour, 1 day and 1 week.
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