⏭️Making predictions
How to participate in Pythia prediction markets
Last updated
How to participate in Pythia prediction markets
Last updated
Prediction markets are the key mechanism by which crypto experts can earn reputation on Pythia's reputation platform. More specifically, as a crypto content creator, you earn reputation soul-bound Reputation Tokens (see for more information) for making correct predictions about key crypto industry trends (e.g., cryptocurrency price movements or major software updates).
So how can you make predictions? Follow these steps:
Go to https://www.pythia.company/ and press on "Launch APP" in the top left corner.
Alternatively, you can access the markets by going straight to the markets page at http://app.pythia.company/markets.
In either case, you should see the following interface:
Right now, we only support Metamask.
To be able to make predictions, connect your Metamask by pressing the button the top right corner.
If you do not have Metamask, follow this handy guide to install it: https://support.metamask.io/hc/en-us/articles/360015489471-How-to-install-MetaMask-manually
Now that you have connected your wallet, you can select a market out of the many we have on the platform (see on how to create new markets).
You can use the touch bar to search for markets based on key words.
Once you have found a market to you liking, click at the centre of the market tab to open the market:
You should see the following interface upon clicking on market of choice:
The key bits of information to keep in mind are the "resolution date" (when the market shall be resolved with an oracle), the outcomes, and the market title.
All you have to do is select an outcome you think is more likely. In this particular case there are only two outcomes but there could be more and click on the "make a prediction" button.
You would have to sign two transactions: the first transaction confirms encrypts your prediction (so no one can copy it), the second is the usual transaction signing procedure.
Upon resolution date, you can check the market that you have partaken in.
If your prediction is correct (see to learn how our dual oracle model works), you will be able to collect a certain amount of Reputation Tokens from the market.
To do so, click on "collect reward".
The immediate benefit of accumulating reputation is increased visibility on social media platforms (like Twitter). You can link your Pythia account to your Twitter profile so that everyone can see your credentials.
In the future, once Pythia's expert marketplace is released, your reputation will positively affect your ability to get matched to projects seeking advisers or ambassadors.
See our section on soul-bound tokens and for more information about our on-chain reputation.
