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PlotX User Guide (Alpha)
This guide will help you understand how to get started on PlotX and make predictions on the platform in a few simple steps
PlotX is a skill-based game where crypto-enthusiasts can leverage their knowledge of the relevant crypto markets and profit from correctly predicting future prices of digital assets like BTC, ETH etc.
Before we get to the predicting part, here are a couple of things you need to do first:
The Prerequisites
Wallet Set-up
Start off by downloading the MetaMask extension for Google chrome. Once you are redirected to the Chrome Web store, click โAdd to Chromeโ to finish installing Metamask extension. (Noteโโโplease check your browserโs compatibility with MetaMask here)
Account Info
Once you have your Metamask setup, switch from the Main Ethereum Network to Kovan Test Network and keep the test net address for later reference. This is your account information. Below attached is a sample of how it will look like:
And thatโs it, youโre all set to start predicting on PlotX!
Though, if youโre having trouble setting up your wallet, we have put together this short video to guide you through the process.
Making Predictions
PlotX was designed while keeping simplicity in mind, meaning its UI is designed to welcome you and not intimidate you. Weโll go over all the various tabs and elements of the UI in a few simple steps.
- Step 1
To start predicting, click on the โStart Nowโ button and youโll be directed to a screen that looks something like this.
- Step 2
Click on the โConnect Walletโ button which will prompt this message.
If you already have a wallet, please click on โWallet Connectโ or otherwise click on โMetaMaskโ, to connect your wallet with PlotX.
- Step 3
After youโve successfully connected your wallet with the PlotX dApp, youโll be greeted with this screen.
Notice that the button which was previously showing "Connect Wallet" is now showing a shortened version of your Ethereum address.
- Step 4
Check out the three marketsโโโHourly, Daily & Weekly.
PlotX has 3 types of markets for each digital asset that is available for making predictions on the platform.
This basically means that you may select the market duration you're most comfortable with, giving you the control over how long your funds are locked.
Longer markets can be used for hedging risks, while shorter markets can be used for speculative trading or if you don't want to lock your money for long.
Markets
- Hourly Market
Time-frameโโโ1 hour.
Donโt like to wait for long hours?
Use this market for instant rewards.
- Daily Market
Time frame โโโ24 hours.
Are you the sort of person who does things by EOD (End of the Day)?
Get on our Daily Market to place your prediction on the value of cryptocurrencies by EOD.
- Weekly Market
Time frameโโโ7 days.
Are you as far-sighted as an Eagle
Do you think 1 hour or 1 day is too less a time to correctly predict the value of a cryptocurrency?
Then, our weekly market is waiting for you with open arms.
- Step 5
Below the market cycle toggler, you can see the question each market has at any given moment.
For Hourly Market:
For Daily Market:
For Weekly Market:
- Step 6
You can see the key metrics of a market below the market question, such as how much ETH has been staked in a market, how many people have staked that Ether, market start time, market end time etc.
You should always evaluate each market in detail before making any predictions
- Step 7
You can refer to the detailed graph given for each market for applying technical analysis before making the prediction.
- Step 8
After youโve decided on your prediction, you can use the โPredictโ button to buy prediction positions. Right now, in the Alpha version of PlotX, you can buy the prediction positions using KETH only.
However, as the product gets launched, the community will have the power to add other markets like BTC/USDT, ETH/USDT, LINK/USDT etc, to the platform. And users will get a lot of different token options to buy prediction positions like ETH, USDT, PLOT etc, in every market.
The arrow indicator before the 3rd option (>=$12101) here means that the graph is trending around the value mentioned in this particular option at exactly this time (14:49:37 UTC, 17th of August 2020). Itโs not an absolute indicator of whether this option will win or not.
- Step 9
Afterwards, youโll need to Enter the amount of Ether you want to stake.
- Step 10
And select the leverage factor using the slider. This feature allows you to stake with a risk factor you're most comfortable with. 1X means 20% and 5X means all-in. So, if you select 2X after staking 0.1 ETH, and you happen to lose, then youโll get 0.06 ETH back after the market closes.
- Step 11
Based on the amount of Ether, the selected leverage, and the current position price, the number of positions youโll get will be automatically calculated and appear in the โNo. of Positionsโ field
- Step 12
Afterwards, click on the โBuy Nowโ button, and an Ethereum transaction of the entered amount will automatically be initiated. You can choose to predict more than one option.
- Step 13
After you have successfully made your predictions, you can head on over to the Leaderboard section to check out the results of all the previous and current markets. You can choose the market and the time frame to access the desired leaderboard.
- Step 14
After the market ends and stops accepting predictions, all the participants who have made predictions in that market will be in contention for the rewards.
After the market is settled, the rewards will be automatically distributed to the winners from the predictions that went wrong.
To see your winnings, you can check out the โMy Accountโ page. You can also review other key stats about your PlotX account like the value youโve staked on different markets, the rewards youโve gotten, reward claims youโve made, and your overall profit percentage from the โMy Accountโ page.
- Step 15
To claim your winnings, click on the โClaimโ button and an ETH transaction of the pending amount will automatically be initiated. The more you predict, the more likely you are to win.
โ
And thatโs it! If you think you have the research & analysis prowess thatโll put you ahead of others and increase your profits, then click right here to start predicting in new markets as and when they open up and keep winning rewards.
Last modified 1yr ago
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