Blockchain platform Waves has launched a brand new betting market permitting customers to invest on whether or not the unfold of the coronavirus pandemic has handed its peak.
Clients can now buy ‘COVID-UP-SEP20’ and ‘COVID-DOWN-SEP20’ tokens to wager on whether or not the variety of new weekly circumstances worldwide will exceed April 4 – 10’s document of 595,802 confirmed infections earlier than September.
Waves’ tokens are bought in alternate for the stablecoin, Neutrino Greenback (USDN). All USDN used to purchase the tokens are locked in escrow till September, after which distributed among the many winners.
The marketing campaign will ostensibly contribute to coronavirus charity initiatives.
Making waves with their new markets
At the beginning of April, Waves launched predictive betting markets permitting customers to invest on whether or not the variety of globally confirmed COVID-19 circumstances would enhance or lower on a week-over-week foundation.
Talking to Cointelegraph a Waves spokesperson revealed the platform’s week-over-week predictive markets had completed, including that its new September markets are prone to be its final COVID-19-themed betting market.
The variety of weekly confirmed circumstances will probably be decided in keeping with knowledge from the World Well being Group (WHO).
Waves donates 10,000 USDT to charity
Waves encourages profitable punters to contribute towards the ‘#CryptoCOVID19’ charity initiative that has raised almost $4 million to this point.
Waves additionally contributed 10,000 Tether (USDT) to a dozen charities combating the consequences of coronavirus — together with TheWaterProject, NoKidHungry, PencilsofPromise, and the Lupus Basis.
Nevertheless, the weekly markets garnered simply $4,500 in predictions.
Betting market born out of lockdown
The Waves spokesperson said that the concept to launch coronavirus-related betting markets grew out of inner discussions concerning how lengthy the pandemic and lock-down would final.
“As quickly because the coronavirus epidemic began gaining momentum around the globe and in Moscow, particularly, the WAVES.Trade crew switched to working remotely,” the spokesperson said:
“All of the crew members began questioning when it will all finish and began sharing their predictions. Thus, the concept was born – to make predictions on the idea of the alternate […] We additionally thought that this may very well be an awesome charity initiative in help of the #CryptoCovid19 marketing campaign.”
