PancakeSwap introduced an AI-powered Prediction Bot on Telegram, allowing users to predict price movements on the BNB Chain.
The new AI-powered prediction feature is built on the Allora Network’s machine-learning (ML) model, designed to predict future price movements of assets like Ethereum (ETH) and BNB.
How to Use PancakeSwap’s Prediction Bot on Telegram
The Telegram bot interface is designed to be user-friendly and efficient. Here’s how users can engage with it:
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Select a Prediction Round: Users pick the prediction round they wish to participate in.
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Follow or Bet Against the AI: Once in the round, users can either follow the AI’s prediction or bet against it, depending on their own analysis.
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Wait for Results: After placing predictions, users wait 10 minutes for the AI to lock in its forecast, and the round settles shortly after.
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Collect Winnings: If the prediction is correct, users collect their share of the prize pool.
The bot supports ETH as the token for predictions, with a minimum bet size of 0.00001 ETH. A 3% fee from each round is directed to the PancakeSwap treasury, which is then used for development, marketing, and buyback programs.
Transforming DeFi on Telegram
Telegram has become an essential platform for crypto enthusiasts, offering quick access to market information and transactions.
Initially, the bot will support predictions on BNB, but PancakeSwap plans to expand its functionality to other tokens and chains. This rollout comes as PancakeSwap celebrates its fourth anniversary. As part of the celebration, users who participate in prediction rounds via the bot on September 22 stand a chance to win rewards worth $4,444.
Prediction markets have been gaining traction, as seen with Polymarket, which recently hit an all-time high in total value locked (TVL) at $120 million, according to DefiLlama.
Risks and Accuracy of the AI Predictions
The AI’s accuracy currently stands at 65%, meaning that while it can offer valuable insights, users are advised to proceed with caution.
PancakeSwap reminds users that the AI prediction is not foolproof, and the volatility of the crypto market can result in incorrect predictions. It’s important to remember that predictions, whether based on AI or human judgment, are not guaranteed.