Myriad Charts More Milestones After Seeing Its Prediction Market Surpass $10M in Trading Volume
Prediction market Myriad is on a roll, having revealed that it’s just surpassed $10M in USDC trading volume. That’s good going for the DeFi protocol, whose more than 500,000 users have placed a total of 5.4M predictions to date. It’s further proof that prediction markets are fast becoming a cornerstone of DeFi, occupying a niche somewhere between trading and gaming.
Unlike conventional DeFi protocols such as DEXs, Myriad takes a fun approach to crypto markets, enabling users to venture on their future price movements and to earn a share of the rewards pool for making correct calls. But it’s not just crypto markets that Myriad users can participate in: its framework is equally suited to placing predictions on real-world events ranging from politics to sport. As a result, Myriad has attracted a diverse user base, all seeking to leverage their expertise within specific spheres to accurately cast predictions.
Gamifying the Future
Myriad has essentially gamified the future, be it that of crypto or of the global economy. Everyone has an opinion on the topics that are dearest to their heart, and Myriad enables them to put a price on that opinion and then see whether it aligns with the sentiment of other users. Popular markets that are live on Myriad right now include one venturing whether BTC will hit $125K or $105K next, with $175,000 of USDC having been ventured on the outcome.
Myriad users are also predicting whether President Trump will visit China in 2025; the start of the U.S. football season; and the price of a dozen eggs. These eclectic markets show the many ways in which Myriad can be used to gain an insight into global economic affairs, whose macro movements feed into the price of crypto assets and the cost of food. The clean yet colorful interface, which gives Myriad a web2 vibe more akin to that of a gaming platform, has helped it rapidly onboard hundreds of thousands of users, many of whom are now regulars.
The web app has been complemented by an optional browser extension that enables users to make predictions directly on social media and to earn points in the process. A leaderboard charts the most successful predictors in Myriad’s SZN 2, incentivizing them to compete for a share of the points on offer. In addition to participating in prediction markets, users can earn points through engaging with content and voting on governance decisions. This approach aligns with the InfoFi model of gamifying content creation and curation, forging highly engaged communities.
Myriad Goes Deeper
Having established a foothold in the onchain economy, including Abstract and Linea where its protocol is deployed, Myriad has plans to go further. According to CEO Loxley Fernandes, “We’re showing that trading ideas and forecasts is not only possible, it’s the next frontier for capital markets. Myriad is building the rails for prediction markets to evolve beyond a niche crypto product and become an entirely new segment of DeFi.”
That goal is set to be supported by further integration into EigenLayer and EigenCloud, while on the technical side, the platform will be enhanced by rolling out support for blended oracles coupled with a framework for ERC-PRED. This new asset class, engineered for prediction markets, should reinforce Myriad’s reputation as a rising star in the prediction economy, which has itself been predicted to achieve rapid growth over the next decade.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
