CoinDesk Report:
Author: Frank, PANews
The prediction arena is increasingly attracting users, especially as the overall market enters a challenging consolidation phase.
Accurate market forecasting means staying ahead in the market and maintaining initiative. Recently, the decentralized crypto prediction expert platform XRADERS has entered short-term partnerships with well-known projects like UXLINK, SecondLive, and DIN. XRADERS’ G2E gameplay introduces a new mode solely based on data accuracy, drawing a substantial influx of users. As of June 28th, the platform has processed over 80 million transactions, positioning XRADERS as a rising star in the cryptocurrency prediction market.
Introducing novel prediction methods with guessing games and voting systems
XRADERS is a decentralized market prediction and expert opinion sharing platform, combining “expert” and “traders” from English to leverage blockchain for transparent data recording and trust-building. It offers meticulously planned expert insights, providing actionable information for investors. Its decentralized voting system ensures transparency and integrity, allowing users to select genuinely effective experts through voting.
The platform integrates social price prediction, gamified elements, and community-driven cycles to create a secure environment for user interaction.
The centerpiece of the XRADERS ecosystem is the Coinlive APP, which combines social attributes with market predictions. Currently, Coinlive’s core features include Guess2Earn (G2E) and the Decentralized Voting System.
The G2E mode allows users to predict short-term Bitcoin market trends within a 1% range (0.5% on each side) with automatic triggering upon price achievement in the predicted direction.
In addition to G2E, Coinlive features a decentralized voting system where users can enhance exposure for experts with higher success rates through voting. Similarly, users with higher prediction accuracy can be elected as experts.
Notably, both G2E gameplay and the voting system are fully recorded on the XRADERS blockchain, ensuring fairness and objectivity.
A completely fair and objective growth flywheel model
This gameplay highlights true predictive experts, allowing users to profit by following professional leaders’ predictions. In April 2024, XRADERS topped the BSC chain’s social DApp rankings within three days of launch and maintained a top-ten overall position. That month, XRADERS attracted over 650,000 monthly active users, with daily active users exceeding 160,000 and G2E occurrences surpassing 11 million.
The substantial user engagement is driven by a growth flywheel model. Initially, user growth and ongoing reward activities help professional players stand out, generating comprehensive and valuable data.
In the second phase of the flywheel, once the expert nomination system stabilizes, expert opinions and their influence begin to stimulate more user transactions, further enhancing user experience and platform data professionalism.
Moreover, this flywheel model ensures equal opportunities for all users based on accuracy, disregarding popularity or background. Additionally, platform token rewards aid individuals in achieving influencer status.
Founder incubated two listed Upbit projects
In contrast to anonymous teams, XRADERS details several co-founders and key executives in its official documentation, including their LinkedIn profiles. The team comprises 13 members (6 developers, 4 product specialists, and 3 business personnel). Leading XRADERS is CEO and co-founder Jeffrey Jin, who, over the past six years, co-founded MovieBloc (MBL) and Cobak Token (CBK), both listed on Upbit, Korea’s largest exchange, twice. With a background in data science, Jeffrey Jin has extensive experience in collecting raw data and transforming it into meaningful insights through research and development.
In April 2024, XRADERS announced the completion of a $2.1 million seed round. Investors included FBG Capital, Amber Group, GBV Capital, Marblex, Icetea Labs, Basic Capital, Marshland Capital, Northbund Capital, HG Ventures, Alpha Protocol Ventures, Vista Labs, GBIC, Lemon22, IOST, 071labs, Alphanonce, Onemax Capital, StudioB, Nexus One, Morpheus, and Planetarium, among other leading crypto investors and institutions.
Governance token $XR to launch in July
According to official sources, XRADERS’ governance token $XR is set to launch in July 2024. The total supply of $XR is 100 million tokens, a rarity in an era of billion or trillion-token issuances. XRADERS emphasizes that besides enhancing platform gaming experiences, $XR tokens serve three critical functions: fostering community participation, facilitating governance operations, and supporting users within the XRADERS environment. $XR is planned for issuance on the BSC chain, with an initial supply of 18.6% and an issuance price of $0.35, estimating an initial market capitalization of approximately $6.51 million.
$XR tokens serve multiple purposes, including incentive mechanisms, subscription models for accessing expert content, staking for governance aligned with platform development, and trading within the platform for additional services.
XRADERS states that by integrating these functionalities, the $XR token economy not only supports the platform’s functionality but also ensures all participants are adequately incentivized to contribute and benefit from the ecosystem. This holistic approach to token utility promotes sustainable community prosperity, driving long-term platform success.
According to the official roadmap, XRADERS plans to introduce real-time market analysis and crypto exchange aggregation features by Q4 2024. AI experts and digital identities are slated for introduction in 2025.
XRADERS envisions a future where “empowering traders and investors through transparency, security, and user-driven platforms powered by blockchain technology” is central. The cryptocurrency market has no shortage of forecasters. Creating an effective market prediction mechanism that values genuine expertise over marketing prowess and constructing a sustainable economic flywheel through a rational token model represents a significant challenge for XRADERS, yet a meaningful endeavor for the market.
