Predictions Market added to Pancake Swap

PancakeSwap adds a Prediction Market for BNB price using Chainlink

PancakeSwap just added a revolutionary new feature to their AMM.  You can now bet BNB on whether BNB will go up or go down during a 5 minute period.  As I type this they are on round 238.  I have been watching it since around round 200.  I think it went live today.  PancakeSwap is going to take 3% of the money bet and use it to burn Cake.  They are planning to collect and then burn once a week.  This is another ingenious way to reduce the volume of Cake and create more scarcity for the coin.

PancakeSwap used to be a copy of Uniswap but it is now so much more.  You can stake your LP tokens.  You can participate in a lottery.  And now you can bet on whether or not BNB will go up or down in a set 5 minute period.

As this catches on, they are going to make so much money or rather burn so much cake.  I think they are earning about $1000 every 5 minutes.

With this new huge reduction in Cake and the great staking rates, Cake is my favorite coin right now.  I am staking BNB/Cake right now on PanckakeBunny.  I am in the new V2 pool.  When I entered the pool it didn't have the 3 day lock.  Now it does so i need to stick it out for another 2 days or pay .5 percent.

The world of crypto is pretty crazy.  I think the other company that is going to benefit is Chainlink.  Pancake is using a Chainlink oracle which means that everyone who copies Pancake Swap will probably also use a Chainlink Oracle.  AMMs can turn into gambling hubs.  It will be interesting to see how it pans out.

Leave a comment

Please note, comments must be approved before they are published