Predictcoin
Crypto Overview
Purpose and Utility
Predictcoin (PRED) is a decentralized prediction market and gaming platform built on the BNB Chain. The platform allows users to predict outcomes of various events and earn rewards for correct predictions.
Business Model and Platform Analysis
The platform's core functionality revolves around prediction markets where users stake PRED tokens to participate in prediction games. The platform also includes yield farming and staking mechanisms.
Development and Adoption
The project has shown limited development activity on their GitHub repositories. The platform is operational but has relatively low user adoption compared to other prediction platforms.
Token Distribution and Governance
PRED token serves as both a governance token and the primary medium of exchange within the ecosystem. Detailed information about token distribution and vesting schedules is not readily available in public documentation.
Key Concerns
The primary concern from an Islamic finance perspective is that the core functionality of Predictcoin centers around prediction markets that operate similarly to gambling mechanisms. Users bet on outcomes and either win or lose their stakes, creating a zero-sum game scenario where one party's gain is directly tied to another's loss.
Crypto Impact
To assign a comfort level investing in Predictcoin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Predictcoin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.