In an effort to attract more users to its smart contract platform, TRON has doubled down on decentralized finance, working to bring as many novel applications to its network as possible. TRON can check off a couple more possibilities from this list following its partnership with Prosper, a blockchain-agnostic prediction market and hedging tool that is capable of being integrated into almost all blockchains.
With this addition, TRON users will gain a whole new suite of tools they can access to optimize their holdings and gain higher returns on their assets. In addition, Prosper will onboard TRON’s large user base to its platform and be able to utilize the increased liquidity to further expand.
Reimagining the Decentralized Prediction Market
Prosper is not the first decentralized prediction market to utilize blockchain technology and the knowledge of the crowd, but it is building off the failures and mistakes of its predecessors to create a superior platform. Without cross-chain interoperability, the ability to access large pools of liquidity is severely limited, a factor that has held back prediction markets up until now. Prosper can provide much more accurate predictions, as it offers a deeper pool of liquidity across chains and assets, allowing it to capture a larger user base to gather data from.
The introduction of Prosper onto TRON will benefit both ecosystems. With TRON’s lightning-fast transactional capabilities and negligible fees, it is ideally suited to hosting prediction markets. Besides increasing liquidity, Prosper offers all of its users a free insurance fund, providing an additional security layer to protect user funds against hacks or attacks from bad actors.
Making TRX Work for TRON Users
Using Prosper, TRX users will be able to hedge against price movements that may have previously hurt their underlying position, as well as leverage their assets to achieve a greater ROI than if they let their tokens sit idle. This enables savvy investors to maximize their upside while minimizing their downside risk on one of the most adopted blockchain networks in the space.
Both development teams are extremely excited about this new partnership, and platform users from both sides should be excited as well. “TRON is one of the fastest growing DeFI platforms in the blockchain market. They have one of the biggest and most active communities in the entire crypto space,” said Iva Wisher, Co-Founder of Prosper.so.
TRON may be one of the largest decentralized smart contract platforms, but it wants to take the number one spot, and should be one step closer to accomplishing this goal with the introduction of Prosper’s prediction market.