In an thrilling growth for the cryptocurrency group, Zeitgeist, a pioneering decentralized utility (dApp) for prediction markets, has introduced a strategic collaboration with CoinDesk Indices (CDI), a number one supplier of digital asset indices by belongings underneath administration (AUM) since 2014. This collaboration goals to convey contemporary insights and indicators to prediction markets, enhancing tradeable crypto sectors.
Logan Saether, CEO of Zeitgeist, mentioned: “Using CoinDesk Indices’ experience permits us to provide unparalleled prediction markets on one of many main crypto index platforms on this planet.”
Zeitgeist launched its prediction market utility on the Polkadot tech stack in 2021 and has skilled a steady upward development in prediction volumes in subsequent years.
The corporate is now poised to function prediction markets linked to two outstanding crypto sector indices: the CoinDesk DeFi Select Index and the CoinDesk Smart Contract Platform Select Index. These markets will present cryptocurrency merchants and information analysts with a platform to forecast potential month-to-month ranges of those indices.
CoinDesk Indices’ sector indices are meticulously designed to measure the market capitalization-weighted efficiency of essentially the most liquid digital belongings that meet particular necessities. Leveraging the Digital Asset Classification Standard (DACS), every index contains a basket of varied digital belongings.
As of September 30, 2023, the CoinDesk DeFi Choose Index contains Aave (AAVE), Curve DAO (CRV), Maker (MKR), Lido DAO (LDO), Synthetix (SNX), and Uniswap (UNI). Alternatively, the CoinDesk Sensible Contract Platform Choose Index encompasses Avalanche (AVAX), Cardano (ADA), Cosmos (ATOM), Ethereum (ETH), Polkadot (DOT), Polygon (MATIC), and Solana (SOL).
Andy Baehr, CFA, Managing Director at CoinDesk Indices, talked about, “We’re excited to see two of our choose sector indices help prediction markets at Zeitgeist. The DeFi and Sensible Contract Platform choose indices, constructed utilizing our DACS framework, present customers with quick access to intuitive segments and key themes of the digital asset area.”
This collaboration between Zeitgeist and CoinDesk Indices holds the promise of enhancing the panorama of prediction markets within the crypto sphere, injecting contemporary views and information into an evolving market, and enabling customers to make extra knowledgeable selections within the dynamic crypto world.
Learn Additionally: Zeitgeist Integrates Smart Contract Functionality Leveraging Polkadot’s XCM v3 Release