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0 sats \ 1 reply \ @mega_dreamer 8 Nov \ parent \ on: Stacker Saloon
We're getting hit with major traffic volume. Our traffic just went up by 300% especially after Rob created the knots vs core markets.
Our back-end wallet management system is being hit hard, thus during time time of high traffic the invoice doesn't get created.
If you can, please wait until Monday. We're releasing a fix for major performance upgrade. And all those nagging issues will be fixed.
Sorry for all the inconvenience caused.
119 sats \ 0 replies \ @mega_dreamer 6 Nov \ parent \ on: RHR 382: STEAK N SHAKE GOES ALL IN podcasts
Odell serious shout-out to @mega_dreamer today.
Wow - Can't believe, and I'm so honored to have Odell's support.
Did you know they call us "StackerNews Bros" - The credit of Predyx's success goes to all SN folks who helped and supported us from very beginning.
And yes - we're so overwhelmed with traffic. The load just went up 300% overnight. We're working on fixing the performance issues.
115 sats \ 1 reply \ @mega_dreamer OP 2 Nov \ parent \ on: Predyx Market Creation Guide (Plain English) oracle
Hey @Undisciplined - thanks for the feedback, sorry it took me a while to respond. Have been busy with some super critical technical stuff for Predyx.
For binary markets, it would be nice if we could modify the "Yes"/"No" categories. In particular, I'm thinking about predicting game outcomes and "Bills"/"Chiefs", for instance, are clearer labels than "Yes"/"No".
Yes its in our roadmap, we'll implement it after some major architecture changes we've been implementing currently to overcome the in-game live HFT trading. @Team_Predyx Please prioritize this feature.
There ought to be a way to make the markets "heavier" as more shares are purchased: i.e. liquidity should increase as more shares are purchased because more information is being factored in.
Yes - we're working on over-hauling our AMM algo. Currently we use LMSR and this is a limitation of LMSR where liquidity is constant irrespective of volume. While LMSR was a great way to bootstrap Predyx, it has served its purpose with thinly traded markets in the early days of Predyx. It's time to move on to more complex AMM.
We're working on UniSwap style AMM. We're treating YES-NO as asset trading pair just like BTC-USD trading pair. Its pretty fascinating.
I'm 100% sure that our new AMM algo will blow your mind away 😇
Something different needs to be done in cases where multiple people are buying/selling shares at the same time. It's not right to quote a price per share and then have that change unilaterally midtransaction.
Currently we only offer spot price trading thus such issues. This will be fixed when we introduce limit orders. All your trades will be treated as limit orders. The Spot orders will be basically limit order with current price. We'll start working on limit orders in month or so.
shocknet new CLINK
No - just googled it. Looks very interesting. Kinda like hodl invoice but better.
Will check it out in more details over the weekend. Thanks for sharing.
Then Strike will just become our custodian (LSP - Lightning Service Provider). Its basically moving the trust from Predyx to Strike. Plus its a real pain to get Strike to become our custodian. They have so many rules for KYC etc.
There are better options like Zeebede or Magnolia. But in the end they are all acting as your custodian which will require strict KYC.
We'd like to avoid KYC as much as we can. Its our last resort.
why is it necessary for Predyx to move to non-custodial solutions?
- Regulations: In the US you either have to have a non-custodial wallet or get a MTS (Money transmitters license)
- Trustless and decentralized solutions. Currently every user have to trust Predyx that we will redeem their shares for sats.
NWC is great, but cannot help us with issuing fully backed tokenized conditional shares.
However that being said, NWC is coming to Predyx either way. Soon you'll be able to login to Predyx with it.
I love alby as well. However there is some cost associated with it. It requires to spin a separate VM (Virtual Machine) or a container for each wallet. Cost wise, it may not be a viable solution for us at this time.
I'm basically looking for solutions similar to Polymarket that allows us to issue tokenized conditional market shares that will be redeemable based on the oracle's decision. These conditional tokenized shares must be backed by btc/sats - to overcome bankrun problem.
So basically a trustless, decentralized solutions with non-custodial wallets.
Guys - please don't hate me for using AI to generate the above guide. I could have never written such easy to understand guide without using AI.
BTW: I've spent hours going back and forth with AI to come with this guide specifically for Predyx
Hey @Solomonsatoshi - thanks for sharing your insights and concern regarding the fees.
@Team_Predyx did an awesome job in explaining the nuances. However I thought it would be nice to clarify few more things:
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So far Predyx is not making profits from the fees collected. 100% of our markets run at a loss.
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Fees collected are deposited to the market wallet. When Predyx official team or any Creator creates a market, they need to provide the initial capital to provision the initial liquidity. In other words the "initial capital" means worst case loss (WCL) for the market creator. Thus the fees collected go directly into market wallet to offset the loss of the market creator. This how most of AMM (Automated market maker) works.
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The default fees for creating a market on Predyx is: 0.45% buy, 0.35% sell and 0.20% win + 1 sats fixed fee per transaction. However the creator can choose to set their own fees. They may choose to offer reduced fees or higher fees. The max fee cap is set to 5%.
There are some creators who choose to offer very minimal fee as low as 0.10% such as @BlokchainB, while there are other creators who choose to offer high fees of 4%.
Thus - it's in best interest of the trader to first check the market fees. And then decide to trade if you agree with the fees.
The audio is AI, but the video was made by our in-house video creator. I think he uses Adobe products to create videos.
Happy to create one for ~Stacker_Sports
Thanks - its was unnecessarily holding up liquidity.
We can use this liquidity for some other large market.
BTW: Here's the market URL: https://beta.predyx.com/market/bundesliga-winner-2nd-place-1759748191
Thanks for the kind words. We try our best. Yes - we'll have the best customer support. We learned this from our friends at Rackspace who were well-known for their "Fanatic customer support".
@Team_Predyx please read this.
Hi @grayruby I understand your frustration. We're are also very concerned about the same as well. In fact I was just talking to @NEEDcreations this evening about it.
Just to keep you updated - we've already started working on the re-architecture of our trading engine. It will probably take us 4-5 weeks to re-vamp it to make it highly performant to handle high-frequency trading. (In technical terms - we are moving away from redis to ValKey
With that being said, we've put a pause on any new feature update, until we make Predyx highly performant.
Next in the pipeline is to add limit-orders and market-makers similar to Polymarket (this may take us 3-4 months to implement). This will be very beneficial for pro traders like you and @Undisciplined. Also it will attract more human/bot market-makers as they will be subsidized with negative fees. We'll probably be first in the world to build hybrid trading engine that will support order-books, human/bot market-maker with a fallback to automated market-maker.
Meanwhile please bear with us, good times are ahead.
21 sats \ 0 replies \ @mega_dreamer OP 17 Oct \ parent \ on: 🚀 Prediction Markets 101 🎯 oracle
Paid :)