Blockchain prediction market platform SX Bet announces the launch of a peer-to-peer (P2P) parlay betting feature and a $50,000 tournament as a major expansion of its product ecosystem. The new feature eliminates the traditional "bookmaker line" model, allowing users to set and accept odds directly for competition, with all bets managed and automatically settled through smart contracts. The platform also implements a fee structure adjustment, charging a 5% fee for winning parlays, a 3% fee for cross-chain bets, while single bets and losing parlays remain free. This upgrade also includes liquidity improvements, spread reduction, and a minimum bet reduction to $1/USDC, aimed at enhancing price discovery capabilities and user experience, strengthening the competitiveness of decentralized prediction markets against traditional sports betting.
Product Innovation and Feature Release
SX Bet announces the launch of a peer-to-peer parlay betting feature and a $50,000 tournament as an important expansion of its blockchain prediction exchange. The new feature aims to enhance platform engagement and user experience by improving transaction execution and liquidity through technological innovation.
This release includes liquidity upgrades and execution mechanism optimization, focusing on improving price discovery efficiency and narrowing market spreads, providing users with a better trading environment.
P2P Parlay Operation Mechanism
The newly introduced peer-to-peer parlay feature eliminates the traditional "bookmaker line" model, allowing users to set and accept odds directly for competition. This model changes the traditional way bookmakers price bets, allowing prices to be formed through user competition rather than internal settings.
Users can combine multiple events into a single bet, with all funds managed through smart contracts and automatically distributed upon result confirmation, ensuring transparent transactions and secure settlements.
Tournament Structure and Reward System
The platform will host a $50,000 "Potential Return" tournament, awarding points based on the expected profit of each bet. The top 100 participants will share the prize pool, with the reward mechanism focused on identifying and rewarding the most insightful market participants.
The tournament design aims to encourage user participation and increase platform activity, attracting more traders through a competitive reward mechanism.
Fee Structure Adjustment and Implementation
SX Bet has implemented a new fee structure: a 5% fee is charged for winning parlays, a 3% fee for cross-chain bets, while single bets and losing parlays continue to be free. This adjustment aims to balance platform revenue and user incentives.
The collected fees will be used for SX token buybacks and community reward programs, with more than 380,000 SX tokens repurchased within the first four days after the feature launch.
Technical Upgrades and Performance Optimization
The platform's matching engine has been updated to allow trades at the same or better prices without needing a perfect match, while also reducing the minimum quote unit to narrow the spread. These technical improvements have enhanced trading efficiency and market liquidity.
The minimum bet amount has been reduced from previous levels to $1 or equivalent USDC, lowering the participation threshold and enabling more users to engage in the prediction market.
Market Positioning and Competitive Strategy
SX Bet states that this upgrade is part of an effort to make decentralized prediction markets more competitive with traditional sports betting. The platform emphasizes user-driven pricing, on-chain settlement, and community liquidity as core competitive advantages.
By eliminating intermediaries and enabling peer-to-peer transactions, the platform aims to provide a more transparent and efficient prediction market experience.
Regulatory Environment and Industry Background
The regulatory classification of prediction markets is still under debate, placing platforms like SX Bet in a legal gray area. Different jurisdictions have different views on whether prediction markets should be classified as gambling, affecting the platform's global expansion strategy.
Regulatory uncertainty is one of the main challenges facing blockchain prediction markets, requiring platforms to adapt flexibly to the changing regulatory environment.
Token Economy and Community Incentives
SX tokens play an important role in the platform's ecosystem, with fee revenue used for token buybacks and community rewards. This economic model aims to create token demand and incentivize user participation through rewards.
The token buyback program helps maintain token value, while community rewards encourage long-term user engagement with the platform ecosystem.
User Experience and Participation Threshold
The reduction in the minimum bet amount to $1 significantly lowers the entry barrier for new users, allowing more users to experience prediction market trading. This low-threshold strategy helps expand the user base and increase platform liquidity.
Optimizations to the user interface and transaction process further enhance the overall user experience, making trading more intuitive and convenient.
Future Development and Collaboration Opportunities
SX Bet will continue to explore collaboration opportunities with other blockchain projects and traditional betting platforms to expand its market influence and user base. The platform is committed to promoting the mainstream adoption of decentralized prediction markets.
In the future, the product line may be further expanded to include more event types and betting options to meet the needs of different user groups.
