Predictfun has made a significant move in the decentralized finance (DeFi) space by integrating with Venus Protocol, a popular money market platform. This collaboration aims to optimize capital efficiency for users engaged in prediction markets, allowing them to earn yields on their locked USDT collateral. The material points to an encouraging trend: the growing intersection of DeFi and prediction markets is set to enhance user experiences and financial opportunities.
New Integration for Predictfun Users
With this new integration, Predictfun users will no longer have their funds sitting idle while awaiting the resolution of predictions. Instead, the platform will automatically deposit USDT into Venus money markets, generating a variable annual percentage yield (APY) for users. This innovative approach addresses a common issue in prediction markets, where capital often remains dormant, thus enhancing overall liquidity.
Impact on Total Value Locked
Currently, over 60% of Predictfun's total value locked, which recently exceeded $20 million, is already allocated to yield-bearing positions. This strategic deployment is expected to significantly boost user engagement on the platform. Notably, Changpeng Zhao, CEO of Binance, has commended this development, highlighting its importance for the BNB Chain's DeFi ecosystem.
Probable has launched a zero-fee prediction market platform, contrasting with the recent integration of Predictfun and Venus Protocol. This innovative model eliminates fees and sponsors gas costs for users, making trading more accessible. For more details, see read more.
