Would you rather bet on YFI or BTC?
PlotX seeks to create robust prediction markets for the burgeoning DeFi space by taking a slightly different approach than Augur and other similar projects. Its founder Ish Goel told Cointelegrpah that his company follows in Uniswap’s footsteps:
What Uniswap did for exchanges, PlotX essentially is planning to do that with prediction markets.
Unlike many of its competitors, PlotX generates markets automatically and focuses on short-term predictions instead of trying to cover all durations. For every trading pair that gets added to the platform, the algorithm automatically creates hourly trading pairs in perpetuity. According to Goel, this should make PlotX more user friendly and foster mass adoption.
Currently, the project is in alpha testing and the only pair that is available is BTC/USDT. The project is expected to launch in September. We asked Goel if there are any plans to add a much-hyped YFI market, he responded that this is definitely a possibility as “the protocol has been designed in a way that you can actually settle any mathematical price feed”; however, this will be up to the community, which will govern the project.