The current prediction game on WispSwap, which is a binary option trading, allows anyone to bet on the direction of the price movement. The rewards distribution is calculated based on the amount of bets on the losing side. While this feature attracts users, it may not be the most optimal function for both the players and WispSwap. In this proposal, I will discuss the limitations of the current prediction game and suggest improvements to enhance user experience and revenue generation for WispSwap.
Limitations of the Current Prediction Game:
Inefficient Prize Distribution: The current prize distribution system, based on the losing side’s bet pool, can result in an unpredictable and potentially unfair distribution of prizes. This can discourage users from participating in the game, especially when the amount of bets put on a round is low, reducing the platform’s overall appeal.
Missed Revenue Opportunities: WispSwap may not be fully capitalizing on the potential income from the prediction game, as the current design might not incentivize users to place larger bets or participate in the game more frequently. I think this counts as a huge missed potential.
Variety of Tokens: To increase user engagement and diversify the prediction game, WispSwap could introduce a variety of the tokens besides BTC. By offering users the opportunity to bet on the price movement of multiple cryptocurrencies, the platform can cater to a broader range of user interests and potentially increase revenue.
Improved Prize Distribution: Instead of distributing prizes based solely on the losing side’s bet pool, WispSwap could implement a more predictable and fair prize distribution system, such as a fixed percentage payout. This would create a more transparent and equitable reward system, encouraging users to continue participating in the game.
Diversified Betting Options: WispSwap could offer users additional betting options beyond the binary choice of price movement direction. For example, users could bet on the price reaching a specific target within a given timeframe or on the magnitude of the price change. This would make the game more engaging and increase the platform’s revenue potential.
Expanding Prediction Game Timeframes: In addition to the current short-term predictions, WispSwap could introduce longer-term prediction options, allowing users to bet on the price movement of various cryptocurrencies over different timeframes. This would provide more opportunities for users with varying risk preferences and investment horizons, ultimately increasing user engagement and platform revenue.
By addressing the limitations of the current prediction game on WispSwap and implementing the proposed improvements, the platform can enhance user engagement, create a more equitable prize distribution system, and capitalize on the potential income from the game. These changes will not only benefit the users but also contribute to the growth and sustainability of the WispSwap platform.