Wintermute Launches Multi-Chain Prediction Platform Ahead of 2024 US Presidential Race

Because the 2024 US presidential election nears, market maker Wintermute is put of residing to introduce its multi-chain prediction platform.

This platform will combine decentralized finance (DeFi) capabilities to enable participants to dilemma bets on election outcomes across numerous blockchain networks.

Prediction Platforms Compose Traction as the US Election Nears

Wintermute’s platform multi-chain efficiency enables customers to seize part straight from their chosen blockchain. This vogue gets rid of the technical obstacles often expose in single-chain prediction markets. It simplifies the course of by taking away the necessity to transfer sources between assorted chains, in the end lowering charges and complexity.

Wintermute also offers expanded token utility by the TRUMP and HARRIS tokens, representing US election candidates—Donald Trump and Kamala Harris. Users can get hold of essentially the most of these tokens for prediction bets and in DeFi applications. Tradable across numerous decentralized and centralized exchanges, this characteristic creates new liquidity alternatives—a famous boost over most prediction markets, the put token usage is in any respect times extra restricted.

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Wintermute also implements a permissionless checklist mannequin, enabling any buying and selling venue to offer tokens with out minting or transaction rate restrictions. This vogue boosts accessibility and makes it more straightforward for customers across assorted ecosystems to seize part in election-linked prediction markets.

Valuable partners reminiscent of Bebop, WOO X, and Backpack are backing Wintermute’s prediction platform. Additionally, Wintermute has partnered with Chaos Labs to be sure data accuracy across these chains for this platform. Chaos Labs’ Edge Proofs Oracle delivers trusty-time, tamper-proof data that kinds the backbone of Wintermute’s prediction engine.

“What devices our market and data integrity engine apart is the bizarre integration of developed AI and LLMs with threat devices. […] Edge Proof’s multi-chain structure ensures seamless shipping of keep, threat, and proofs across ecosystems, embedding have confidence in prediction markets,” Omer Goldberg, CEO of Chaos Labs, said.

Wintermute’s timing aligns with the rising interest in election-linked prediction markets. BeInCrypto currently reported that Polymarket’s election-linked making a bet quantity has reached $926 million. Because the US election nears, this quantity is projected to hit $1 billion.

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Furthermore, Dune Analytics data presentations that nearly 70% of Polymarket’s weekly customers level of interest on election bets. Since June, Polymarket’s total worth locked (TVL) has surged by 277%, reaching near $120 million. In the meantime, the quantity of month-to-month sharp customers has increased by 50%, reaching 66,400.

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