Following the successful launch of PancakeSwap's AI-powered prediction market on Arbitrum, we are excited to introduce the Allora x PancakeSwap points program. This initiative aims to reward the most engaged community members, enhancing the experience for those actively participating in PancakeSwap's AI-Prediction market.
Users can join the points campaign here: https://app.allora.network/points/campaign/pancakeswap-predictions
Since its launch on June 26, 2024, PancakeSwap’s AI-Prediction market on Arbitrum, powered by Allora, has seen over 5,000 users place more than 60,000 predictions, generating a volume of over $365,000. Participants have been predicting ETH prices every 10 minutes, either following or going against the AI's predictions.
The payout structure for these predictions uses a moving average that adjusts according to the AI’s accuracy over time. If the AI demonstrates high accuracy, users predicting alongside the AI receive smaller payouts compared to those predicting against it. Conversely, lower AI accuracy leads to higher rewards for users predicting against the AI and smaller rewards for those aligning with its predictions. Learn more about how it works here.
Allora x PancakeSwap Points Program Details
Timeline
The Allora x PancakeSwap points campaign runs from July 25, 12:30 PM UTC, to August 25, 2024, 11:59 PM UTC. Participants have a 30-day window to join and be recognized for their on-chain and off-chain activities.
On-chain points
This on-chain point allocation was designed to recognize active participation and accurate predictions in the PancakeSwap AI-powered prediction market:
- A total of 200 points is allocated per round of the AI-powered prediction market product. At the end of each round participants will receive proportional points based on their prediction amount;
- Users will receive a 25% multiplier if their prediction is correct.
For example, consider 10 users are predicting in a round with varying volumes. If the total volume is $100 and your volume is $50, you will receive 100 points (50% of the total as your share for the volume was 50%). If your prediction is correct, you will receive an additional 25% bonus, which equals 25 extra points, bringing your total to 125 points for that round. These points apply to every round from July 25, 12:30 PM UTC, to August 25, 2024, 11:59 PM UTC 2024, offering the opportunity to receive points by making predictions and getting a multiplier bonus on accurate predictions.
Track your Allora points from the PancakeSwap x Allora points program on this leaderboard page: https://app.allora.network/points/campaign/pancakeswap-predictions
Retroactivity
To recognize early participants, users who placed bets on the PancakeSwap AI-powered Prediction Market before July 25, 2024, 12:00 PM UTC will also receive points for their on-chain activities.
In each round of the prediction game, including all rounds since the launch on June 26 at 01:00 PM UTC, 25 points were distributed based on bet volume. If your prediction was correct, you would have received a 25% multiplier for that round.
Off-chain points
In addition to interacting with the PancakeSwap AI-powered Prediction Market, users can also receive points by completing off-chain community quests. Users will earn 1 point for each of the following social media actions across both platforms' accounts, you can earn a maximum of 3 points by completing all the tasks:
- Follow PancakeSwap on X
- Follow Allora Network on X
- Join PancakeSwap on Telegram
- Join Allora Network on Telegram
- Get the PancakeMember role on PancakeSwap Discord
- Get the Verified role on Allora Discord
All PancakeSwap x Allora off-chain points accumulated from Galxe will be visible on the Allora Galxe leaderboard. The off-chain Galxe points accumulated from the PancakeSwap x Allora points system will undergo a conversion process to align with our Allora Point system and will be distributed after the campaign ends. Updates regarding the conversion process will be provided before the campaign concludes.
Start receiving points today by visiting the Allora x PancakeSwap Galxe Campaign page: https://app.galxe.com/quest/AlloraNetwork/GCTrFtkL8E
We’ll be unveiling exciting rewards for our point holders in the future. Stay tuned for more details, and read here to learn more about this points program.
How Allora AI-powered ETH Prediction Works
Allora enables machine learning (ML) models to evaluate and learn from each other by integrating the following roles within the network:
- Workers: Provide inferences and forecasted losses
- Reputers: Evaluate the accuracy of workers
- Consumers: Pay for and acquire inferences.
In the PancakeSwap AI-Powered Prediction Market, a topic—a subnetwork focused on a specific problem—is dedicated to predicting the price of ETH within a 20-minute window. Workers submit inferences and forecasted losses for this topic.
Once a user requests a prediction for the defined Topic:
- Topic Coordinator sends this request to Worker Nodes
- Workers provide their predictions and forecasted losses for a Topic
- Topic Coordinator aggregates inferences using a weighted average of forecasted losses.
On PancakeSwap rounds are 20 minutes: 10 to place predictions and 10 to settle against market prices. Users choose a round and bid in the first 10 minutes to "Follow" or go "Against" the AI. After predicting , they see if the AI predicts a price rise or fall.
- Reputers evaluate the accuracy of the inferences
- Topic Coordinator delivers the combined prediction to PancakeSwap
Every 20 minutes, Reputers on Allora Network evaluate the accuracy of inferences sent by Workers to determine their weight in the network. If the collective inference from Allora is correct, users who predict with the AI get paid; otherwise users who predict against the AI get paid.
About PancakeSwap
PancakeSwap is the leading multichain DEX on BNB Chain, Ethereum, Aptos, Polygon zkEVM, Linea, Arbitrum, ZKsync Era, Base, and opBNB. Launched in 2020, PancakeSwap is one of the most popular DEXs in the cryptocurrency industry due to its low transaction fees, high-speed trading, and user-friendly platform. PancakeSwap has over $815 billion in total trading volume and over $2.15 billion in total liquidity locked, making it the leading multichain DEX in the industry.
To learn more about PancakeSwap, visit their website, follow them on X, read their blog, join their Discord, and check out their developer docs.
About the Allora Network
Allora is a self-improving decentralized AI network.
Allora enables applications to leverage smarter, more secure AI through a self-improving network of ML models. By combining innovations in crowdsourced intelligence, reinforcement learning, and regret minimization, Allora unlocks a vast new design space of applications at the intersection of crypto and AI.
To learn more about Allora Network, visit the Allora website, X, Blog, Discord, and developer docs.
