PancakeSwap, the decentralized exchange (DEX) that operates on the BNB Chain Blockchain, launched its first prediction market on Telegram linked to the network’s native token, BNB.
This new application came into effect in its beta version and allows users to bet on the rise or fall of BNB every five minutes in real time.
According to the DEX exchange’s announcement, users are already can access a Prediction Telegram, which is the name of the market and is in beta phase.
PancakeSwap already had this prediction product, but in its web version. As it Ethereum/” target=”_blank” rel=”noreferrer noopener”>reported CryptoNews, in January 2024, launched a prediction market similar to BNB on Telegram, but based on the price of Ethereum (ETH).
Currently, this instrument is only compatible with the BNB Chain, ZKsync Era and Arbitrum One blockchains. The first one can be used to trade the BNB Cryptocurrency, and the other two can be used to trade Ethereum.
So PancakeSwap’s new Prediction Telegram bot offers similar functionality to the web-based prediction market, but in this case it is designed specifically for Telegram users.
How does it work? bot PancakeSwap Telegram Prediction?
After accessing the Telegram bot via the link provided by PancakeSwap, users must decide in real-time whether the price of BNB will rise or fall in the next five minutes.
In the next step, users will enter the amount they wish to bet, The minimum established is 0.001 BNBOnce this period is over, those who correctly predicted receive a share of the prize pool.
Image of the PancakeSwap Telegram bot interface of a trade with 0.01 BNB. Source: PancakeSwap.
On the other hand, from the mobile device, users must have a MetaMask or WalletConnect wallet connected to Telegram.
Ultimately, the BNB price betting bot announcement mentions that 3% of the total capital accumulated in each round is allocated to the PancakeSwap treasury. This platform is one of the largest decentralized exchanges in the world. Currently, account with a daily trading volume exceeding $2.5 billion.
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