Outside Source
- PancakeSwap partners with Allora Network to launch AI prediction market on Arbitrum.
- Users can earn up to 60,000 ARB rewards with 100% Fund Protection for predicting ETH price movements.
- Future plans include expanding the AI predictions to more on-chain and off-chain markets.
PancakeSwap has partnered with Allora Network to launch an AI-powered prediction market on the Arbitrum Network.
The AI-powered prediction market aims to empower users with advanced tools to predict Ethereum price movements and participate in a dynamic, AI-driven environment.
PancakeSwap’s new AI prediction market
PancakeSwap’s new AI prediction market introduces a novel way for cryptocurrency enthusiasts to engage with market dynamics.
Powered by Allora Network’s sophisticated AI algorithms, users can leverage predictive insights to forecast ETH price fluctuations on the Ethereum Layer 2 (L2) Arbitrum network.
The integration of AI technology ensures a robust prediction mechanism, backed by Allora’s track record of accurate price forecasts across various assets.
Participants in the prediction market have the opportunity to compete for rewards totaling up to 60,000 ARB tokens.
This incentive structure not only encourages active participation but also aligns with PancakeSwap’s commitment to fostering a secure and engaging decentralized finance ecosystem. With 100% Fund Protection, users can confidently engage in predicting ETH price movements without concerns about the safety of their contributions.
PancakeSwap keen on expanding its exchange’s utility
PancakeSwap’s decision to deploy this AI-powered prediction market on Arbitrum highlights its dedication to expanding the utility of decentralized exchanges beyond traditional trading.
By integrating Allora Network’s AI capabilities, PancakeSwap enhances user experience by offering predictive tools that adapt and evolve based on market dynamics. This approach not only enhances the accuracy of price predictions but also mitigates potential risks associated with market manipulation, ensuring a fair and transparent environment for all participants.
Looking ahead, PancakeSwap and Allora Network plan on expanding the predictive capabilities of the predictive market beyond ETH price movements to encompass a broader range of on-chain and off-chain markets.
This strategic expansion aims to cater to a wider audience of cryptocurrency investors and traders, offering tailored investment strategies and real-time risk management tools through upcoming initiatives like CupcakeHop.
This article first appeared at CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison
