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Author: William M. Peaster, Bankless; Compilation: Five baht, Bit Chain Vision World
Due to the breakthrough of Polymarket, everyone is paying close attention to the decentralized forecasting market this year.
Although PolyMarket is the leader in this field. In the excitement of the Presidential election in 2024, its monthly transaction volume, active users and unbound contract statistics are currently close to the highest level of history, but there are other participants worth paying attention.
If you are a Solana user, then you should view BET!
Last week, the popular Solana decentralized exchange Drift announced the launch of BET, “Bullish on Everything”, which is a capital efficiency forecasting market built on the Drift agreement.
What is its magnificent vision?Provide a predicted market. Users can use Solana’s iconic speed and low cost, and at the same time, earn benefits from their base positions before the event results are announced.
In addition, BET has done a wide range of support for tokens.Although PolyMarket is centered on USDC transactions, BET supports more than 30 different cryptocurrencies for transactions, including stable currencies and Solana liquidity bureaus (LST).
At the beginning, BET launched some markets centered on the upcoming American election. For example, will Kamala Harris win universal elections in 2024?Looking forward to the future, Drift will add more market categories, such as sports, and turning to a market that is completely licensed.
Having said that, if you are interested in trying these first markets, please go to the App.drift.trade/bet and connect your Solana wallet.At this point, you need to injection capital and create an account.Choose the deposit method you like and approve the creation account, the cost is about 0.03 SOL.
After that, you can click on one of the available markets on the BET platform for in -depth understanding.First, write down the “settlement date” of the market so you know how long it will last.Then turn to the “Market” tab and select “Betting Yes” or “Betting” according to your prediction.
It’s time to determine the scale of your transaction.In the transaction interface, use the “cost per share” index to enter what you want to obtain or not the amount of shares to help you make a decision.After completion, the interface will display other information, such as your potential profits and how many fuels you will get.
If everything looks good, press the final “BET” button and use your wallet to complete the purchase transaction.This is all!
After locking your position, you can use the “Delivery” tab under the market interface to monitor your betting performance or close it in advance before the date of the solution.Here, you can also find the “balance” tab to deposit, extract, exchange or transfer your assets as needed.
You can use BET to do some more advanced things, such as the lower -limit price order, there are other services you may be interested in, such as pledged Drift to earn extra fuels.But the above exercises show that even the basic knowledge here is easy to understand and attractive.
Of course, PolyMarket has been widely welcome to formulate a blueprint for the predicted market on the chain; the current question is whether BET can achieve the success of Polymarket by following a similar strategy and combining its own characteristics.
