🚀 dYdX to Launch Prediction Futures Market
posted 17 Sept 2024
The decentralized exchange dYdX is set to list perpetual futures on prediction markets. This new offering will allow users to place leveraged bets on event outcomes. This move is expected to attract investors who currently rely on centralized platforms.
The prediction market could offer DeFi a unique opportunity to regain attentionsaid dYdX Foundation CEO Charles d'Haussy.
On most prediction platforms, users bet on the outcome of events, from sports to politics. However, by introducing perpetual futures, similar to traditional trading, dYdX will likely enable investors to profit from shifts in probability, even before the event concludes.
Augur, an early player in crypto prediction markets, faced challenges like liquidity shortages and high fees on Ethereum. If dYdX redirects just a portion of its monthly trading volume ($21 billion), it could become a major player in the market.
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