PlotX seeks to create robust forecasting markets for the burgeoning DeFi ecosystem by taking a slightly different approach than Augur and other similar projects. Its founder, Ish Goel, said that to Cointelegrpah Your company is following in Uniswap’s footsteps:
What Uniswap has done for exchanges, PlotX essentially plans to do it with forecast markets.
Unlike many of its competitors PlotX automatically generates markets and focuses on short-term forecasting instead of trying to cover all time periods. For each exchange pair added to the platform, the algorithm automatically creates hourly exchange pairs over time. According to Goel This should make PlotX easier to use and encourage mass adoption.
Indeed, The project is in alpha testing and the only pair available is BTC / USDT. The project is expected to start in September. We asked Goel if there were any plans to add a market to the much-noticed YFI. He replied that it was definitely a possibility because “the protocol was designed so that you could really set any math price”; However, this depends on the community that is running the project.