New ICEBRK SwapDex Feature Upgrade: BNB Prediction Markets
The IceBreak-R development team is very excited to announce our latest project upgrade and addition to the ICEBRK SwapDex (https://swap.icebreak-r.com). This week we are rolling out our BNB prediction markets utilizing Chainlink oracles, whereby users can bet on the price of BNB going up or down within each betting round. The system will be a simple binary betting type format where the pool is decided at the end of the betting round depending on the number of participants. The winners will receive the entirety of the losing pool, minus the SwapDex fee (5% of total pool). These fees will be used to fund the gas payment for the Binance Smart Chain network and for ending the timing rounds, in addition to funding the ICEBRK token project.
We intend to roll out even more assets in the future and our next addition will be utilizing the ICEBRK token itself as a deposit method. Users will be able to place bets using their ICEBRK wallet balance as well as with BNB tokens. The prediction market pools will be independent of one another depending on which asset is used to place the bet.
The prediction asset itself (Binance Smart Chain Token) is a crucial component as the network is decentralized and the depth of the liquidity is as such to prevent manipulation and cheating by whales or insiders. In choosing a popular and large-cap coin the community can be assured a fair and safe system overall. In the future the ICEBRK DAO can decide on new assets to add to the ecosystem, pending governance proposal voting. Our DAO Platform is available here: https://snapshot.org/#/icebrk.eth
In order to facilitate frictionless transfers to and from the prediction markets platform the team has decided to exclude the prediction smart contract from transfer fees, while retaining the option to implement a lesser tax fee to fund the feature itself. These fees may be split according to the DAO governance voting once the governance committees have been fully formed. In the meantime we will set the base tax rate at 5% until further notice.
Each additional use case that is added to the ICEBRK token only further strengthens its intrinsic value over time. Users will continually have more reasons to buy, spend or transfer ICEBRK tokens as the team develops more ways to do so within our platform. This in turn will fuel our deflationary tokenomics even more as this will ultimately increase the burn rate from transfers, reducing the total circulating supply.