PredIQt: User Guide
We’re happy to announce that today, we’ve officially launched the PredIQt Knowledge Market on the EOS mainnet! We’re excited for you all to try it out, participate in markets, and begin to earn from your knowledge!
Below, we’ve put together a short user guide to help you get started on PredIQt:
Step 1: Visit the official PredIQt Website
We’re excited to officially debut the PredIQt beta as part of the IQ Network family of knowledge-based dApps, along with Everipedia.
Step 2: Login Using Scatter
In order to use PredIQt, you’ll need to have an EOS mainnet account linked to your Scatter. You can download Scatter here and find all sorts of helpful on-boarding resources at their help center.
To login, simply navigate to the top right of the page, click “login,” and then authorize Scatter to link to the application. Once you’ve done that, you should see your account name displayed in the top right corner.
Step 3: Select a Market
Once you’ve logged in, you can navigate to the markets page to select your preferred market. Currently, the PredIQt team is curating a small number of markets. We’ll continue to add new markets as existing markets expire and resolve. Eventually, we’ll add the ability for users to create their own markets.
Step 5: Purchase Shares
There are two ways to purchase shares on PredIQt — market orders and limit orders.
Market Orders are orders pulled from the existing market order book. These orders will be filled immediately at the current market price for those shares.
Limit Orders are a slightly more advanced order type. Users placing limit orders can specify both the number of shares they want to purchase and the price they want to pay for those shares. The price, denominated in EOS, corresponds to the users’s assigned probability of the outcome. This price represents that maximum amount a user is willing to pay for a share. For example, if you are 70% sure that a given outcome will happen, you will specify 0.70 as your price. That means that you’ll pay a maximum of 0.70 EOS per share, for a payout of 1 EOS if the outcome is correct. It means that you’ll buy any shares priced 0.70 EOS or below.
PredIQt will try to get you shares at the cheapest possible price but will fill orders in best pricing order until your risk limit is reached. You’ll never pay more for a share than your risk limit specifies.
Once you’ve purchased shares (or placed a limit order), that data will show up in your profile page. Shares are held in your EOS account, are transferable, and can be redeemed for EOS upon market resolution (if the outcome purchased was the correct one).
Step 6: Wait for Market Resolution
Once a given market’s event happens, resolution will occur. Currently, PredIQt markets are resolved by the PredIQt Multi-Sig account, a 3/5 multi-sig operated by prominent members of the EOS community. We’re currently testing integration of EOS Titan’s Delphi Oracle for automated and decentralized resolution of price markets.
Once the market has been resolved, you’ll be able to redeem your shares and cash out. This can be done via the “withdraw” function on your profile page.
Profile Pages
One feature we’ve added in our latest release is profile pages, where you can see a summary of your activity and holdings on PredIQt. The profile page is designed to be a one-stop shop for information on all of your PredIQt activity. It lists your orders, shares, transaction history, and market participation. We’ve also added a resource index to allow you to keep track of your EOS resource usage.
To access your profile page, simply hover over your username in the top right corner and click the drop-down menu for “visit profile.”
To withdraw funds, simply click the “withdraw” link and specify the amount you’d like to withdraw. The transaction will be sent to your account immediately.
