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101 sats \ 7 replies \ @klk 1 May \ on: What to improve for the Predyx platform? devs
Make it non custodial.
It basically is. You can buy from and sell to your external wallet. The custodial wallet just holds payments when there's a problem with my lightning payment.
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I didn't know that about Polymarket. That's really interesting.
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It has its own problems (based on a side chain of Ethereum). But it's a nice application of smart contracts. There's a contract with inmutable code that creates the yes and no pair for each bet when 1 USDC is deposited and also allows for redemption.
Since the code can't be changed, the funds are not in the hands of the platform owners at any time and it would take corrupting the Polygon network to do a rug pull.
Using USDC or Ethereum/Polygon is cringe. Hope we find a way to achieve something similar in Bitcoin or upper layers.
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Yes we want to - so far we haven't found a perfect bitcoin only solution for it.
We wanted to start with non-custodial modal using taproot assets - like issuing shares for the markets on taproot assets etc, but the UX of taproot assets is still very complex.
The other option is to use Polygon chain for state management/smart contracts along with wrapped invoice on LN, but not all the wallets support wrapped invoice. Plus using Polygon for smart contracts defeats the purpose of Bitcoin only Prediction Markets.
But eventually our goal is to make it non-custodial and decentralized in the end. We'll get there as there are more advancements on L2 Smarts Contracts.
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Yes "gambling" and "Prediction markets" are like apple and oranges.
In the early days, just like how Bitcoin was seen or perceived as a drug money used only criminals, in the same way many smart people still see "Prediction markets" as gambling.
This happens to any new asset class.
A good question to ask is: If Prediction markets were gambling, how come Kalshi has been winning all the court injunction in Nevada and New Jersey?
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