Prediction Labs to launch instant settlement service for Augur
October 23, 2019, 4:36PM EDT
1 min read
Prediction Labs, a firm building services for prediction markets, has announced the launch of STLD Exchange, a service offering instant settlements and payouts for select prediction markets on Augur. STLD Exchange will go live with the launch of Augur V2, the second iteration of the prediction market protocol.
With STLD Exchange, Prediction Labs will enable users to swap their shares for DAI as soon as an event is completed on Augur, rather than waiting for Augur's protocol to finalize the markets they are betting on. To avoid settling contentious prediction markets, STLD Exchange will only offer instant settlement services for select markets, which the firm will broadcast ahead of time.
To generate revenue, Prediction Labs will charges users variable fees to using its instant settlement service. According to the firm, it uses a "proprietary risk-scoring framework" to determine its fees.