Say Hello to Seer!
Dropil is constantly working on adding new products that expand, yet compliment, the current offerings of the platform. While we feel we have already released an impressive array of such supporting products cementing Dropil’s place in the future of the noisy cryptocurrency space in a short time frame, we have no intention of slowing down now! We are excited to announce that our Beta Testing team will soon be getting their hands on one such forthcoming product: Seer – Predictive Markets Platform. Seer features aspects of a platform, tool, and marketplace all conveniently packaged in the typical, easy to use, Dropil fashion that our users have become accustomed to. The Seer platform will center around the ability to create predictions, and have yourself and other users weigh in on those predictions, with substantial reporting, tracking and more built in.
From launch we are bringing you two ways to actively participate with Dropil’s prediction market on the Seer platform. There will be both Free Play and Live Play modes available to participate in or initiate predictions on. Each mode will require expenditure within a points system, the difference being live play will use the native Drop token and free play will use a free, replenishable points system. The two modes will be separate, however you may participate in both simultaneously if you choose to (subject to certain restrictions). Reporting, tracking, ranking, etc. will be split between the two modes allowing easy to distinguish results for analysis. The initial release of Seer will be primarily focused around the crypto space, allowing users to create a number of prediction events based upon various statistics of any supported cryptocurrency including price, market cap, rank, and change in percent, etc. We will also be rolling out the ability to make custom predictions on crypto or non-crypto events in a more free form fashion that will be moderated and validated by a dedicated team rather than purely automated through API usage.
The free mode allows users to become familiar with the concept of predictive markets as well as Seer itself and offers a low stakes method to test your predictions in real world markets. Users will be allotted 100,000 points upon initial sign in with which to participate on Seer. These points allow users to participate in active predictions. In both modes, users will be able to increase their existing wager on any event, depending upon their confidence. Once a user falls below 25% / 25,000 points in free play mode they are able to replenish those points for free at a maximum of once per day (don’t spend them all in one place as Jade says!). All refills will be tracked and used as a statistic in the Seer leaderboards.
The standard/live play mode of Seer runs on Drops, and the native Drop token is used to initially set and increase any wager. This presents the ability to lose or gain more Drops based upon the parameters and stake of any given prediction you participate in. There will be built in rules governing all prediction creations to ensure that any newly created ones vary enough from existing predictions to keep things from becoming redundant or diluted. Both modes will display some initial stats upon the completion of entering your wager in a prediction giving details of the current status, participation and spread. As stated, this initial release will be focused around various crypto stats at user selectable dates in the future, however the very near future will see the wide beta release of predictive parameters for Seer expanded into other avenues. At any point you can view and sort all open predictions per mode from the Predictions page, a great way to browse existing options. In an effort to bring maximum visibility to Seer, all predictions will feature a button to auto create an engaging shareable link for users to distribute on various social media! There will even be added benefits to referring new users to use Seer through shareable links.
Where Seer differs from standard full time Futures Markets is that Seer users can participate in highly specific predictions with all aspects of said prediction selectable as opposed to all users holding contracts on a single market asset that all expire at the same time. This more entertaining way of participating in predictions allows users to also be in more than one position per currency with multiple ending points. During this phase of Seer all crypto related predictions made using the standard form produces outcomes that are able to be auto decided by multisource aggregated API verifications ensuring instant decisions upon expiry dates for qualifying predictions. Custom made predictions will be monitored and decided upon by our dedicated group of Seer admins (more info on this coming soon).
A major contributing factor to the building of this platform was our interest in the analytics it can generate. Dropil aims for transparency across our platform and we wanted to give a ‘behind the scenes’ look at part of the perceived internal value of Seer. Prediction markets, Futures trading, Virtual Market Games, etc are not a new idea and have a long history, in some regards with outstanding accuracy while under different measurement criteria their impact is lessened by shortfalls outlined in Efficient Market Hypothesis, regardless we see value in gathering such data. Harnessing the power of swarm intelligence we will be able to track historical accuracy of different segments and types of predictions made on the Seer platform and eventually be able to use that data to add weighted decision making to the Dex platform if it proves actionable and deemed as advantageous. A large amount of the stats will also be visible to users including leader boards and historical outcomes! Regardless, Seer is sure to add substantial platform value through engagement and opportunity. Stay tuned for more details on the full release of Seer coming soon.
While U.S. users are welcome to participate in Seer’s Free Play Mode, they will be restricted from engaging within the Live Play Mode due to the array of federal and state regulations governing the circumstances under which such engagement is, or is not, permissible.