Prediction market interest sparks PancakeSwap Telegram bot launch.
PancakeSwap has rolled out its first-ever prediction bot, driven by rising interest in prediction market products.
The PancakeSwap prediction bot, launched in beta on Telegram on Sept. 11, allows mobile users to predict BNB token prices easily.
The PancakeSwap team explained to Cointelegraph that the bot was introduced to cater to growing demand in prediction markets and the popularity of Telegram bots among crypto users, offering a mobile-friendly way to stay connected with the market.
Interest in prediction markets has surged, especially with the 2024 US presidential election on the horizon, which could have significant regulatory consequences for the cryptocurrency industry. Prediction markets, like Polymarket, are seeing record growth, with the platform’s total value locked (TVL) reaching an all-time high of $123.4 million as of Sept. 11.
Though the PancakeSwap bot currently only supports BNB-related predictions, the team plans to add support for more chains depending on user feedback and market trends. The launch coincides with PancakeSwap’s fourth anniversary, with participants in the bot’s Sept. 22 predictions eligible for a share of $4,444 in rewards.
Telegram Mini Apps are also gaining traction, offering simple, user-friendly apps that could drive mainstream adoption of crypto. These apps, like the PancakeSwap bot, are seen as pivotal in onboarding the next wave of users to Web3, with experts highlighting their potential to bridge the gap between users and blockchain technology.
Key industry figures, like Justin Hyun of The Open Network Foundation and Yat Siu of Animoca Brands, believe platforms like Telegram and its games could help accelerate Web3 adoption by offering accessible, blockchain-integrated experiences without users needing deep technical knowledge.
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