Predyx Just Got Bigger: User-Created Markets Are Live \ stacker news ~oracle

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Predyx Just Got Bigger: User-Created Markets Are Live

5345 sats \ 35 comments \ @Team_Predyx 17 Sep oracle

Hi stackers,

We're so delighted to announce that we have just achieved another milestone - A big one!

User-Created Markets Are Live Now

All our users can now create new markets on Predyx.

The Creator Dashboard is very easy to navigate. Most of us already using Predyx should be able to create new markets with ease. Still, if you face any difficulty or need some help, I and team predyx is always available.

If you have any question regarding the 'Creator' feature, please feel free to ask in the comments below.

A tutorial post on 'How to Create New Markets on Predyx' will be up very soon...until then...

Create.Predict.Stack.Win.

@Undisciplined, @south_korea_ln, @Coinsreporter, @grayruby @OT @NEEDcreations @denlillaapan @BlokchainB

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292 sats \ 6 replies \ @Coinsreporter 21h

Damn! This is so cool, so awesome.

Here we go!

Just created USA vs The World, hardly took me 5 minutes!

C'mon my mates and darling foew!

Let's play a game for a game!

Team USA @Undisciplined @darkstacker @siggy47 @TNStacker @realBitcoinDog @BlokchainB @supercyclone @WeAreAllSatoshi @Aardvark @fishious Team International @Coinsreporter @IamSINGLE @suraz @Carresan @TheMorningStar @Public_N_M_E @grayruby @User21000000 @MANI @HardMoney

Is it the first user created market on Predyx? @Team_Predyx @mega_dreamer

76 sats \ 3 replies \ @grayruby 21h

Easy money. Those suckers have no hope

40 sats \ 2 replies \ @Coinsreporter 21h

Very easy money, right. They don't even have ....... to buy share of their team at less than 30%.

21 sats \ 1 reply \ @grayruby 21h

How does it work? Do you have to provide liquidity when you create a market?

40 sats \ 0 replies \ @Coinsreporter 20h

Yes, there's minimum 1000 sats liquidity. I went with 2000 but it seems like it's not much because odds are moving too fast.

93 sats \ 1 reply \ @mega_dreamer 19h

Yes - its the first user created market on Predyx. Congrats!!

0 sats \ 0 replies \ @Coinsreporter 19h

Thanks.

175 sats \ 1 reply \ @Undisciplined 17 Sep

I’ll definitely be playing around with this later.

42 sats \ 0 replies \ @Team_Predyx OP 17 Sep

Sure. We'll wait. Your input is very valuable for us.

239 sats \ 3 replies \ @grayruby 22h

How will you police the user created markets to ensure the correct result is validated?

91 sats \ 2 replies \ @BlokchainB 19h

Yeah this will be key! To stop scamming

202 sats \ 1 reply \ @mega_dreamer 19h

Short-term:

At this point if time it is reputation based - the only way to police is to give ratings like (5 star or 1 star) on the resolution of the market. Always be wary of new user created markets.

Long-term:

Meanwhile, I've been working on non-custodial markets, once I achieve some success, we'll add oracle functionality to market resolutions.

My initial plan is to have few (around 21) trusted oracles on Predyx like @grayruby, @Undisciplined and yourself @BlokchainB and more. The market resolution must receive at least 11 oracle's vote for it to resolve.

20 sats \ 0 replies \ @BlokchainB 17h

Interesting

208 sats \ 1 reply \ @SimpleStacker 17 Sep

That is a really neat feature! Kudos to your team. I am not much of a gambler but I think this is cool.

30 sats \ 0 replies \ @Team_Predyx OP 17 Sep

Thank you so much for the appreciation.

211 sats \ 0 replies \ @emre 20h

It is awesome to see everyone is excited about new features! Thanks for your all kind messages. We'll make the Predyx better!

137 sats \ 1 reply \ @Wumbo 17 Sep

0 sats \ 0 replies \ @BlokchainB 19h

Hahaha

552 sats \ 2 replies \ @south_korea_ln 13h

Maybe I missed it somewhere, but what happens to the bootstrap liquidity after resolution of the market? Send it back to the market creator who provided the initial liquidity?

310 sats \ 1 reply \ @mega_dreamer 8h

In LMSR the initial bootstrap liquidity is basically worst-case-loss (WCL). That's why its known as Liquidity Subsidy.

For example the market (Kash Patel) you created with 20k sats as liquidity and with the win probability of 15%.

Your initial cost = Global WCL = 37,943 sats.

What this means is, if NO wins, your market will incur a loss of 3251 sats, and if YES wins, your market will incur a loss of 37943 sats.

Best case loss: If NO wins, you will receive 37943 - 3251 = approx 34,692 sats + fees collected.

Worst case loss: if YES wins, you will receive 37943 - 37943 = approx 0 sats + fees collected.

The default market fees are very low at this time (buy: 0.45%, sell: 0.35%, win: 0.20%), and with current volume it will be very difficult to make profits from the liquidity provided.

My suggestion:

If you're creating the market with the intention to make profit from liquidity provided, then either you must increase the fees. Max fees allowed on Predyx is 5% for each buy/sell/win. Or you will have to proactively trade on your market to cover the liquidity subsidy.
If you're creating a market to elicit any valuable information that you might not be able to get from traditional media source, consider you liquidity as cost of seeking the valuable information.

Our current solution to deal with creators loss, due to low volume is to add the tipping functionality for creator to cover for the losses. When the trader of your market will rate your resolution, they will have the opportunity to tip the creator to cover the loss or possibly make more profits. At the time of rating, your trader will be able to see creators profit/loss from liquidity/fees. And make a moral judgement to tip or not.

72 sats \ 0 replies \ @south_korea_ln 8h

Very useful, thank you!

40 sats \ 1 reply \ @Coinsreporter 23h

@grayruby Can you please tell me when we are gonna get the final results for Team USA vs The World?

21 sats \ 0 replies \ @grayruby 22h

At the end of the year.

51 sats \ 2 replies \ @cascdr 15h

@CHADBot /shill weigh in on this post as Code Monster Billy Rampage - a bitcoin software developer that is as bullish as you can possibly be on bitcoin & has fully dissociated and talks and acts like Macho Man Randy Savage

42 sats \ 0 replies \ @CHADBot 15h

You have summoned CHADBot. Please zap this post 21 sats to receive service.

Made with 🧡 by CASCDR

0 sats \ 0 replies \ @CHADBot 15h

Code_Monster_Billy_Rampage: Ooh YEAH, dig it @Team_Predyx! You're climbin' the mountain. Allowing user-created markets? Now that's the madness I'm talking about! The Macho Man is seeing the future and it's named Predyx! I'm seeing you flexing those capabilities. Just like the tower of power, too sweet to be sour, funky like a monkey, the sky's the limit and space is the place! I'll be right there, ready to drop the elbow of innovation! Let's build new markets and let the crypto flow! The madness is ready! Step into the squared circle of creation, 'cause the Savage-beast is ready to STACK, WIN, and TAKE it to the moon! Ooh YEAH!!!