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Zephyr Platform Launches Decentralized Prediction Market: Review

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Tue, 11/10/2022 - 11:55
Zephyr Platform Launches Decentralized Prediction Market: Review
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As crypto markets are still trapped in a bearish recession, blockchain enthusiasts, traders, and liquidity providers are aggressively looking for new earning opportunities. Zephyr, a new-gen prediction market platform, allows them to profit even when “there is blood on the street.”

Introducing Zephyr, a novel blockchain-based prediction market

Launched in 2022 by a reputable team of blockchain enthusiasts, the Zephyr crypto prediction market is set to introduce the amazing opportunities of Web3 and AI to the thriving space of crypto trading, liquidity management, and forecasts.

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Image by Zephyr

Here’s why Zephyr’s stack of services looks unique in 2022:

  • Zephyr’s cryptocurrency prediction market allows everyone to benefit from forecasting crypto price movements in either direction;
  • This opportunity makes its operations potentially beneficial in both bearish and bullish market phases;
  • Zephyr allows both betting on existing PMs and launching own pools on every major cryptocurrency;
  • Newcomers can start their crypto journeys with a feature-rich “copy forecasting” toolkit;
  • Zephyr’s technical design is fully on-chain and transparent: the betting track of every user can be verified independently;
  • To support the new generation of crypto users amid the bearish market of 2022, Zephyr launched a generous reward campaign.

Simply put, Zephyr unveiled a new-gen mechanism for the crypto price prediction market to unlock new opportunities for digital asset holders with various levels of expertise.

What are prediction markets?

Prediction markets or PMs should be referred to as a class of open markets where specific outcomes can be predicted using financial incentives. In other words, this type of market allows its participants to monetize their forecasts about some events in the future.

PM prices indicate the “crowd opinion” about the probability of this or that event. As such, one could witness impressive gains should one make a successful bet on an event the majority of people cannot predict.

Prediction markets (also known as betting markets, information markets, decision markets, or idea futures) have been popular since the 16th century. Since the early 2000s, traders can bet on events via the Internet.

Why are prediction markets popular?

It is the easiest way to capitalize on your expertise in almost anything, from politics and economics to weather, climate change, and social life. Unlike trading, betting on PMs does not require special technical or operational skills.

Placing a bet on prediction markets is way easier technically than trading spots and futures positions on foreign exchanges (FX), stocks, commodities, and cryptocurrency markets.

Also, most PMs work in a low-cost manner, within reasonable trading limits, and do not implement strict KYC/AML checks.

Why the crypto sphere needs prediction markets

In 2018, with the inception of Augur, the first-ever fully decentralized on-chain prediction market on Ethereum (ETH), the history of PMs on blockchain started. First-gen crypto prediction markets like Omen and Gnosis introduced smart contracts to the sphere of betting on the outcomes of various events.

Being fully decentralized, non-custodial, transparent technical systems, blockchains provide an ideal technical basis for PMs: nobody can cheat on betting organized through an ecosystem of smart contracts.

Also, the ability of crypto PMs to seamlessly integrate with non-custodial digital asset wallets eliminates the need for software downloads, registration, and verification procedures. The prices of digital assets themselves are a perfect example of an event suitable for setting up prediction markets.

Zephyr unveils its new-gen cryptocurrency prediction market platform amid bearish recession

Launched on the mainnet in Q3, 2022, Zephyr is a cutting-edge, high-performance ecosystem of prediction markets for cryptocurrency users.

Zephyr: Basics

Zephyr is a service that allows users to benefit from forecasting cryptocurrency prices. It tracks the price fluctuations of Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Solana (SOL), XRP, Cardano (ADA), and a number of other cryptocurrencies.

While betting on price fluctuation, every user of Zephyr can either work with the existing PM pool (actually, a market based on the direction of price movement demonstrated by this or that asset) or set up their own PM. Users can inject either 5 or 10 USDZ into a pool associated with a cryptocurrency asset (50 and 100 USDZ pools are coming soon). 

All the contributions of users are equal in the corresponding pool. Once the event takes place, the rewards are distributed according to the accuracy of their prediction. The winner gets his bet doubled; people can make more than one bet in one pool. In total, a user can invest even $50 in a $10 pool with 5 different parts. Zephyr’s reward algorithm is unique enabling 60% of the pool participants to become winners.

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Image by Zephyr

To start using Zephyr, a newcomer should set up an account via email or log in with their non-custodial cryptocurrency wallet, like MetaMask.

Zephyr: Advantages

Working with Zephyr demonstrates many opportunities compared to classic crypto trading, betting, and PM services. To start with, it is one of the exclusive opportunities to profit from a bearish recession: with Zephyr, traders only need volatility to benefit from the forecast.

As such, it works not unlike trading futures — but with reduced risks and a more streamlined technical procedure. Also, it does not charge betting with high commissions, while its operations do not depend on gas price dynamics. Zephyr’s clients only pay negligible 1% commission.

Betting on Zephyr’s PMs does not require sophisticated education and specific market expertise: traders can just follow their favorite influencers and most experienced forecasters. This case study is a perfect example. 

Zephyr: Tools

Under the hood, Zephyr has a dashboard where cryptocurrency enthusiasts can bet on the direction of price movement for this or that asset. PMs with 12-hour and 24-hour expiration periods are available in presets.

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Image by Zephyr

Then, Zephyr users can launch their own prediction markets with a high range of expiration dates available (up to one year).

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Image by Zephyr

To make the process of using PMs more transparent and accessible to newbies, its creators deployed two leaderboards demonstrating the rankings of “most valuable players” or MVPs of the week and month. All traders displayed in MVP lists have traceable Ethereum (ETH) addresses so visitors can verify their trading history.

In order to advance the understanding of cryptocurrency markets, Zephyr users can try the Opinion Leader module. This unique instrument tracks the statements and price predictions and of seasoned cryptocurrency experts - entrepreneurs, engineers, investors, analysts. Then, the tool analyzes the overall forecast performance of the opinion leaders to count their accuracy score.  

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Image by Zephyr

Zephyr aggregates top opinions across various social media platforms and blog resources. As a result, now, the crypto community can clearly determine whose opinion is worthy and whose is misleading, and then, follow only trustable influencers. 

Zephyr: Rewards

To support new traders, Zephyr introduced a massive bonus campaign. All bonuses are distributed between the participants in USDZ equivalents and, therefore, can be used while betting on PMs immediately.

Zephyr introduces three types of bonuses: Welcome Bonus, Deposit Bonus, and Referral Program Bonus:

  • To receive a $10 Welcome Bonus, a new user needs to register, invite at least one friend to register on the platform, and subscribe to all of its social networks: Facebook, Twitter, Discord, Medium, Reddit, Telegram;
  • To receive a Deposit Bonus (up to $50 in USDZ equivalent), a new user needs to fill their account with $50-$500 in crypto;
  • Last but not least, Zephyr users can get a $20-$60 Referral Program Bonus once their referral reaches $5,000 in trading volume.

Also, to let its users benefit from simply locking liquidity into the pools, Zephyr introduced Zephyr Earn, a DeFi-era liquidity initiative. It can serve as an income stream for long-term cryptocurrency holders. Zephyr Earn accepts liquidity and distributes periodical payouts between its donors.

Closing thoughts

Zephyr is an ecosystem of cryptocurrency prediction markets. It allows crypto users to benefit from correct forecasts on cryptocurrency prices. Zephyr works with various cryptocurrencies and accepts bets in the native asset USDZ.

As such, betting on Zephyr is beneficial even amid a general recession in cryptocurrency markets. For crypto newbies, the platform introduced a massive bonus initiative and referral program.

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