Blockchain-powered forecasting market HedgeTrade has joined forces with Ethereum competitor Tron, according to its Aug. 27 announcement.
Because of the tie-up, it is now possible to monetize predictions made for all trading pairs with the TRX cryptocurrency.
Putting your money where your mouth is
HedgeTrade positions itself as a social trading platform that allows traders to create predictions called “Blueprints” that are stored on the Ethereum blockchain.
In order to create a smart contract-powered Blueprint, users are required to stake the project’s native HEDG token.
Amateurs on the other side of the deal have to purchase a Blueprint for unlocking detailed information about entering/exiting a trade.
If a pro comes up with accurate calls, they get their stake back together with all proceeds. Conversely, beginner traders walk away with their money if a market moves against a Blueprint.
Each expert trader earns reputation points based on the consistency of successful predictions.
More opportunities for Tron traders
The Singapore-based prediction platform went fully live back in June after introducing its beta version in December 2019.
HedgeTrade CEO David Waslen says that the platform is meant for bringing together seasoned and novice market participants:
“The HedgeTrade platform was built for and by traders as a place for crypto trading novices and experts to come together, share ideas, and earn tokens.”
Speaking of the TRX integration, Wasen claims it's a “win-win partnership” for both projects:
“By including TRON’s native cryptocurrency TRX into our predictions market, TRON will gain a unique way to measure sentiment for their coin and yet another avenue for liquidity. With this important trading pair addition, HedgeTrade provides additional opportunities for its base of traders to profit by making predictions on $TRX trading pairs. It’s another win-win partnership benefiting both companies as well as both communities.”