Pancakeswap has released a beta version of the prediction platform Prediction. Pancakeswap CAKE price saw ATH within 24 hours.
With the Prediction platform, Pancakeswap aims for CAKE owners and Pancakeswap users to earn returns by making predictions. Users will make predictions on the BNB / USDT price on the platform.
Pancakeswap states that it tested Predicton for 2 weeks and community members have been using the platform for several days. However, since the platform is beta version, it is stated that some errors may be seen.
How does Prediction work?
Prediction’s working principle is based on predicting whether the BNB / USDT price will rise or fall. After users enter their predictions, a five-minute process begins. During this period, BNB price movements can be watched live.
After the five-minute period, the closing price of the BNB / USDT price is displayed. Those who think the price will rise will win if they guessed above the closing price. On the contrary, those who predict the price will fall will win if they guess below the closing price.
Integration with Chainlink
Pancakeswap has integrated with Chainlink to ensure the closing price of each round in Prediction is reliable. With chainlink oracles, it is aimed to get accurate price data. Pancakeswap also uses Binance’s price data for the BNB / USDT price.
The CAKE price rose to $ 41.51 on April 29, hitting an all-time high, and its market value reached $ 6.5 billion. The price was $ 18.35 on April 1st.