Augur Blockchain Prediction Markets Platform to Get Instant Payouts Courtesy of STLD Exchange
An organization creating services for prediction markets, Prediction Labs, recently announced the launching of an STLD Exchange. This is a service that offers immediate settlements on Augur. The payouts are also instant for the selected prediction markets.
Augur V2 will be launched when the STLD Exchange goes live, and basically, this is the second repetition of the protocol for the prediction market. Using the STLD Exchange, the predictions market firm will allow its users to exchange their shares for DAI. That will take place immediately after an event has been completed on Augur.
Users will not have to wait for the Augur protocol to finish working on markets that they have placed their bets on. The process is now simplified and faster. There before, users had first to wait until Augur finalizes on the market that you had placed a bet on. Users can now experience and enjoy stress-free and much faster transactions.
The firm in a bid to avert disputable prediction markets will give only immediate settlement services to the chosen markets. They are the markets that the STLD Exchange will have displayed ahead of time. It will avoid any disputes from users on the prediction markets. But if only the markets that were displayed ahead of time are the ones instantly settled, then no disputes may arise.
To accrue revenue and profits, the Exchange platform, Prediction Labs will charge the users of the platform varying fees for using their instant settlement service. That is vital for its survival as the fees will go into expanding the business and enabling even more and more customers to access the service. The charges will vary because of the different amounts of the instant payouts to be settled.
The Exchange platform said that it would use a unique system to determine how it will charge the fees. A “proprietary risk-scoring framework” will be used in knowing what to charge the users.