myEdge is a Solution
The problem
The traditional prediction markets industry is characterized by a strong built- in player disadvantage, with providers having full control of the funds deposited by players. Not only does this place a risk for the player losing their funds, it also prevents quick transfer by the player to an alternate provider, limiting their freedom to use multiple platforms concurrently. A player has little chance to take advantage of better offers presented to him across other platforms, either due to the short time provided to act on an offer or funds transfer costs, making the move to a new platform cost-inefficient despite the better offers.
The obvious disadvantage of the existing ecosystem for the players has led to a new type of platform — the decentralized cryptocurrency-based platform. While the new platforms harness the power of blockchain to create new trustless ecosystems with smart contracts and fast and cheap funds transfer, eliminating FIAT currency-based limitations, most new platforms introduce a new way to tie players to their platform by using a designated cryptocurrency. Switching between platforms will require the player to make lengthy, complex and expensive conversions to transfer funds across different platforms while keeping multiple wallets and multiple exchange accounts at any given time.
Both traditional and cryptocurrency providers include a margin of up to 10% between the forecast odds and the actual offer to ensure a long-lasting profit. These high margins dramatically reduce the user’s ability to profit over Time. Sophisticated players try to increase their returns by exploiting the fact that each provider uses a slightly different way to determine probabilities and over time those offers change depending on time left and the actual funds wagered by outcome, leading to different offers presented by different providers. Scanning numerous platforms manually is time consuming and inefficient. The process then of getting the token needed for the wager is usually lengthy, expensive and complicated.
Our Solution
myEdge is a first of its kind, next generation blockchain-based ecosystem, empowering players in various prediction and trading industries to maximize the value of their wagers by providing an offers comparison service fo decentralized prediction and trading networks.myEdge uses powerful parsing and analyzing tools to extract and compar offers from cryptocurrency-supported platforms and presents them to users so they can select the highest paying offer of any prediction for a wide variety of prediction events, increasing returns substantially.
The mere comparison offered by myEdge structurally refers the player to the best possible outcome out of all outcomes presented by providers, and once such offer is selected, myEdge tokens conversion system will kick into action to leverage the advantages of the crypto industry to make the process as easy, safe, cheap and fast as possible. myEdge will operate on top of cryptocurrency-supported platforms only to ensure players have control over their funds, the ability to quickly mobilize funds as they deem fit and the safety of using trustless smart contracts as the way for both the player and the provider to escrow funds and for the winner to receive all funds at the event conclusion, eliminating any concern from payment issues by providers
myEdge conversion system will use platform dedicated reserve accounts in any platform which uses platform specific tokens in order to supply liquidity for players in any token they need for any wager, and allow them to acquire the desired token in a fast, frictionless and low cost one step process. myEdge will encourage FIAT-based and cryptocurrency based platforms to use its token as a means of payment to completely avoid funds conversion and become more attractive to players.
Where and when legally applicable , myEdge will use an API based process to place wagers for the players, releasing them from manually placing a wager, thereby removing an additional barrier from the process. To overcome long payouts by platforms, myEdge will act to create a liquidity network in which participants can supply liquidity for other participants, allowing them to collect their winnings immediately upon conclusion of the event, without the need to wait for the platform to pay out, all for a fee which will be based on the lapse of time for the payout to be received.
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