- This milestone reflects the quick adoption of Myriad as well as the company’s aim to develop prediction markets as a fundamental segment within the DeFi industry.
- Since its introduction, Myriad has been able to support more than 5.4 million forecasts, its browser extension has been installed more than 60,000 times, and it has swiftly moved into the top tier of Web3 trading apps.
Myriad, a Web3 prediction and trading protocol, made the announcement today that it has crossed $10 million in USDC trading volume since its introduction. Additionally, it has onboarded more than 511,000 users. This milestone reflects the quick adoption of Myriad as well as the company’s aim to develop prediction markets as a fundamental segment within the decentralized finance industry.
The beginnings of Myriad may be traced back to two pioneering media companies in the Web3 landscape: Decrypt and Rug Radio. The mentality of the platform has been formed by this tradition, which has also contributed to the early momentum. The objective of Myriad is to make information itself a marketable asset class. Since its introduction, Myriad has been able to support more than 5.4 million forecasts, its browser extension has been installed more than 60,000 times, and it has swiftly moved into the top tier of Web3 trading apps. All of this has been accomplished while remaining faithful to its purpose.
Loxley Fernandes, co-founder and CEO of Myriad stated:
It is not going unnoticed that this burgeoning industry has the potential to see development. According to Thomas Peterffy, the creator of Interactive Brokers, prediction markets have the potential to overtake the stock market within the next 15 years. He cites the unique capacity of prediction markets to price real-world expectations and consensus as the reason for his forecast.
According to Myriad’s future plans, the company intends to position itself as both a consumer platform and a business-to-business protocol for various prediction applications. It has been implemented on Abstract and Linea, and there are plans to integrate it further with EigenLayer and EigenCloud in the future. An additional component of its plan is the implementation of blended oracles, as well as a framework for ERC-PRED, a new asset class that is intended for prediction markets.
Through a combination of great early traction, reputation driven by the media, and a growth strategy that prioritizes compliance, Myriad is laying the groundwork to establish prediction markets as a cornerstone of global decentralized finance.
A Web3 prediction and trading protocol, Myriad was developed with the intention of facilitating markets in which users may engage in trading based on information, predictions, and consensus. Through the use of Decrypt and Rug Radio, it mixes retail adoption with enterprise-grade infrastructure in order to develop a protocol for prediction markets that can be used across a variety of businesses. Its plan involves the extension of several chains, the integration of sophisticated oracles, and the harmonization of regulatory standards in the United States.
Source: https://thenewscrypto.com/myriad-surpasses-10m-trading-volume-in-prediction-markets/
