PlotX v2 Mainnet Launch: DeFi Prediction Markets

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AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, congratulates PlotX, a cross-chain prediction market protocol on its V2 Mainnet launch on the Polygon Network on May 14 at 12:00PM UTC.

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PlotX Version 1 was launched in October 2020 as a decentralized non-custodial prediction market protocol on the Ethereum Blockchain. PlotX allows crypto-traders to use their skills to predict the future value of popular digital assets such as ETH and BTC. Markets on PlotX V1 were automatically created in intervals of four hour, one day and one week time frames. 

The V2 has been under development since December 2020 and the testnet was released on April 13 for the public. After rigorous testing by the community, the launch of PlotX V2 on the Polygon Mainnet is now scheduled on May 14.

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PlotX V2 has focussed heavily on simplifying the prediction-making experience for users thanks to a consistent dialogue with their community via the research forum and its official community telegram group. It brings the experience closer to mainstream applications while retaining the DeFi ethos of being non-custodial and permissionless.

This can be seen in the marquee features that PlotX announced via their recent blog post about the mainnet release:

  1. Gasless prediction-making – via meta-transactions that abstract the process for users so they only have to make a single transaction while making predictions.
  2. Smooth token bridging – via cross-chain swap technology, that enables users to move PLOT between Ethereuem (ETH), Polygon (MATIC) and other EVM compatible chains like BSC & Solana (SOL), from within the application itself.
  3. Guaranteed liquidity provisions – via incentive alignment of market creators for providing liquidity for new markets, making it lucrative for users to participate in.
  4. Simple onboarding experience – for users, especially ones who are not familiar with metamask and RPC changes, to login using their email addresses without compromising on the non-custodial nature of the dApp.

The team has built a competitive product and is highly receptive to the community. As per the roadmap, upgrades in V2 do not end here. Numerous new features are slated to be introduced that will equip users with exciting new prediction opportunities.

Ish Goel, Co-founder PlotX, shares his thoughts on the news, “It has been an exciting journey for us since the launch of PlotX V1 in October 2020. Prediction markets have always been an exciting derivative for crypto traders. However, they have always faced the challenges of a complex UX, high gas fees & low market liquidity that has also resulted in a lack of growth of the space. With PlotX V2 we have worked alongside our community to solve these challenges by introducing an overhauled UX, deploying on Polygon and introducing liquidity bootstrapping mechanisms for new markets. The community has reacted positively to these features and we’re super excited to reveal the mainnet app to them as well as the larger crypto trading community!”

About AscendEX

Originally founded in 2018 as BitMax.io, AscendEx is a leading crypto and digital asset financial platform catering to both professional and retail traders. The exchange offers spot, futures, margin trading and staking products and incorporates key elements from the DeFi space to foster a unique market structure for users. AscendEx is led by a team of Wall Street veterans who have applied traditional markets’ rigor to create a robust, secure, and reliable experience for all participants; and a consistent source of liquidity for primary offerings.

For more information and updates, please visit:

Website: https://ascendex.com

Twitter: https://twitter.com/AscendEX_Global

Telegram:  https://t.me/AscendEXEnglish

Medium: https://medium.com/ascendex

About PlotX

PlotX is a cross-chain Prediction Market protocol built by the ex-CTO of Nexus Mutual (>$1bn mcap). It enables crypto-asset price predictions, like “What will be the price of BTC/USDT in the next 1 hour?”

Dubbed as the Uniswap of Prediction Markets, PlotX is the simplest and most fun DeFi derivative for crypto traders.

For more information and updates, please visit:

Website: https://plotx.io/

Application: https://app.plotx.io

Twitter: https://twitter.com/TryPlotX

Telegram: https://t.me/plotx_official

Blog: https://medium.com/plotx

Discord: https://discord.com/invite/8CWNQnGReddit: https://www.reddit.com/r/PlotX/

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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Tatiana was born in Russia and graduated from Moscow State University, where she learnt to speak Chinese. She is interested in how Blockchain Technology can be used to revolutionize many sectors.

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