Polycule founder launches prediction platform PMX, related token rises nearly 44%

ChainCatcher news, based on the trading bot project Polycule by founder krish on the X platform, announced a partnership with Meteora to launch the prediction platform PMX. It is reported that PMX works by transforming each prediction market into two tokens. "YES" and "NO" tokens are minted and added to the LP pool. Due to arbitrage wallets rebalancing prices, the prices together reach 1 dollar. After the event result is confirmed, the losing token will be dumped to 0, while the holders of the winning token will receive airdrop rewards.

As a result of this news, the PCULE (now PMX) token saw a 24-hour increase of 43.97%, with a current market cap of 22.8 million dollars. On June 8, Polycule announced a $560,000 investment from Alliance DAO.