PancakeSwap, a decentralized multichain trading protocol, has launched a new AI-powered predictions market. The announcement was made on Wednesday, June 26, revealing that the predictions market is now available on the Ethereum Layer-2 network, Arbitrum. This new feature is supported by a price feed powered by Allora, a decentralized AI network.

“Following the success of our Swap, Yield Farming, Syrup Pools, Perpetuals, and Options Trading features, this expansion signifies our commitment to delivering a wide array of functionalities to our diverse user base on Arbitrum,” the protocol stated in a blog post.

Predict Price Movements to Earn Token Rewards

PancakeSwap’s predictions market allows users to forecast price movements of cryptocurrencies such as Ether (ETH) every 10 minutes. Users can bet on the AI’s prediction, either agreeing with it or going against it. At the end of each round, participants earn token rewards from a prize pool.

According to the PancakeSwap team, the AI will not bet against users. A follow bet means the user trusts the AI’s prediction, while the opposite means the user relies on their own judgment on whether the price will fall or rise.

“Predict ETH price movements to win a share of the prize pool. Join our 9-week campaign with 60,000 ARB in rewards and up to 100% fund protection.”

PancakeSwap Offers 60,000 ARB Promotion

To celebrate the successful launch, PancakeSwap has announced a 9-week campaign offering a reward pool of 60,000 ARB tokens. These tokens are part of the 450,000 ARB grant obtained via the Arbitrum Long-Term Incentive Pilot Program.

The first supported token is ETH, with a 3% fee applied to the total pool. PancakeSwap plans to use a portion of these fees in a buyback and burn program, while the rest will go to the treasury for future marketing and development initiatives.

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