- What are WOO X Prediction Markets?
WOO X Prediction Markets is a marketplace that allows users to engage in speculative activities pertaining to the anticipated outcomes of future events.
Periodically, WOO X will introduce prediction tokens representing 2 possible outcomes of a future event, ranging from politics, finance, sports, and more. The valuation of each token is denominated between 0 USDC and 1 USDC, serving as a reflection of the marketplace's perception of the event's likelihood.
Users will be able to trade these 2 prediction tokens within the prediction period to speculate on the outcome of the event. Upon the conclusion of the event, an airdrop will occur to distribute the winnings to users who got the prediction correct.
- Accessing Prediction Markets
Users can access the Prediction Market by choosing the Prediction tab in the Markets options.
Alternatively, users can select Prediction in their Watchlist widget on the Trading page.
Please note that predictions markets listing will be available for a period of time based on the event or campaign. Only active pairs are displayed.
- How does Prediction Markets work?
Let's take a sporting event as an example.
There are 2 teams, team A and Team B and one of these teams will win the sporting event, ending on November 30th. In this case, there will be 2 prediction tokens listed in the marketplace: AWIN/USDC and BWIN/USDC.
If the market price of token AWIN is 0.30 USDC and the price of token BWIN is 0.70 USDC, then the market believes the likelihood of team A winning is approximately 30% and team B winning is approximately 70%. Users can participate by trading token AWIN and/or token BWIN at any point before November 30th.
If team A wins at the end of the event, an airdrop of USDC-equivalent to the AWIN token will be sent to users who have the winning token. For example, a user who bought 300 AWIN tokens will be airdropped 300 USDC. Users who bought BWIN tokens will not receive anything.
After the event, tokens AWIN and BWIN will have zero value and will remain in users’ wallets as a commemorative token. Achievement badges based on event outcome and user participation will also be given out.
Please refer to our FAQ if there are any questions.