PlotX Review – How To Predict Crypto Price Using PlotX Work

plotx review

Welcome to PlotX Review. PlotX enables you to make predictions and earn rewards every hour.

What is PlotX

PlotX is a non-custodial prediction market protocol that enables users to earn unlimited rewards on high-yield prediction markets.

Dubbed as the Uniswap of Prediction Markets, PlotX uses an Automated Market Making algorithm to create, settle markets and distribute rewards on the Ethereum Blockchain without any counter-party risk.

Markets are focused on crypto-pairs like BTC, ETH, YFI, etc, and are automatically created in intervals of 1 hour, 1 day, and 1 week.

PlotX also uses on-chain governance powered by GovBlocks

If you would like to know where to buy PlotX, the top exchanges for trading in PlotX are currently Uniswap (V3), Hoo, MEXC, AEX, and AscendEX (Bitmap).

How Does PlotX Work?

PlotX markets are non-custodial. It’s easy to predict in just 3 steps.

  • Select a market you want to predict and connect your wallet.2CHOOSE AN OPTION RANGE
  • Use your trading skills to pick the right option range that you feel the market will settle on.3MAKE A PREDICTION
  • Make a prediction, wait for settlement and win the reward pool

How to Predict on PlotX

Predicting on PlotX is as simple as: Connect > Select > Predict > Claim rewards!

  • The first step is to connect your wallet to the PlotX web app.
  • To make it easier for newer crypto users, we also provide an option to login via email using Magic Link
  • Once connected, explore the different markets of crypto assets and the timeframes (hourly, daily & weekly). You can filter the markets by Assets or Timeframes.
  • Make a prediction on either Bullish, Bearish or Sideways range and voila!
  • Once the market settles, you will be able to see the rewards in your account.

In case you face any difficulty navigating your prediction journey, there is a chat option within the application that lets you chat directly with their team.

Which Assests can you use to place prediction in PlotX

They want to make sure that PlotX is as accessible as possible for our users. That is why PlotX supports 6 different cryptocurrencies to make predictions:

  • $PLOT
  • $USDC
  • $USDT
  • $WETH
  • $MATIC
  • $DAI

Please note that PlotX is currently deployed on the Polygon Network and hence users need to use the Polygon version of these tokens.

How Are Rewards Calculated in PlotX

The rewards received for a correct prediction comes from the reward pool of the market in which the predictions have been placed.

Since each market can be drastically different, the reward pool for each market can also vary quite drastically, depending on the amount of $PLOT/bPLOT staked in it.

The reward pool is distributed among the position holders in the correct option as their incentive for predicting accurately.

Computation for the reward of each position holder in the correct option is done as follows: – Reward Pool * (No. of positions held by the User / Total No. Of Positions in the Option)

How is plot different from Augur, PoolTogether, HXRO?

Markets on PlotX are tailored to the liking of crypto traders i.e short & exciting, unlike the longer-duration markets hosted by most other prediction markets that often last multiple months.

The shorter markets on PlotX ensure that your funds aren’t locked in for a long period of time.

These shorter markets have further given rise to the first-of-its-kind Pre-IDO prediction markets by PlotX – a vertical never explored before in the Defi prediction market space.

Is PlotX Safe, Audit

Two independent smart contract security audits have been conducted by CertiK and Mudit Gupta. The reports of these audits can be found below: Report by CertiK (focused on Token Sale, Vesting & Staking contracts)Report by Mudit Gupta (focused on all PlotX smart contracts)

Final Verdict

PlotX v2 has added Magic Link’s Web3 wallet to the list of wallets you can use to connect.

This allows users to create & connect a Web3 wallet using their email addresses, while still being non-custodial in every way.

The benefits of using Magic Link wallets will come in the form of improved user experience as the wallet’s UI is baked right into the PlotX UI and is always connected to the Polygon network (no constant RPC changes)

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