Binance Wallet Prediction Market vs. Predict.fun dApp, is the fee the only difference?
Yesterday (6/2), the Binance Wallet Prediction Market feature announced integration with Predict Point (Predict.fun points), eliminating user uncertainty about earning points.
Now, Binance's aggregation of Predict.fun seems to only leave the difference in fees, especially impacting users who prefer to trade in real-time before event settlement.
According to Predict.fun's trading rules, limit order users are exempt from trading fees, while market order users will have fees calculated based on event probabilities.
This makes sense; limit orders can be seen as providing liquidity, and by waiving fees & providing point incentives, users can be effectively encouraged to actively provide liquidity and enhance the trading depth of event predictions.
However, for market orders, as the probability approaches 50%, the fees increase, while fees decrease as it nears extreme probabilities. This means that users trying to quickly match trades with market orders for small profits in sports predictions will have their profits eroded the most by fees.
In some respects, Binance offers users a more convenient way to participate in the prediction market, but users may not be aware of the fee mechanism behind Predict.fun, especially when the trading page for the prediction market defaults to showing market orders first, leading to potential fees of 0.1% to 1% for market transactions.
Sometimes convenience can be a double-edged sword when the rules are not clearly synchronized and displayed.
Additionally, the Binance prediction market still seems unable to bind with Predict.fun's invitations, where invitees can receive a 10% trading fee discount. Thus, for users who prefer instant transactions or trading during the session, going directly to the Predict.fun dApp to participate in predictions remains the better choice.
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● Predict.fun invitations can reduce trading fees by 10%, I’ve left the info in the comments below
● The above content is not investment advice (NFA); users should operate based on their own risk tolerance, DYOR and participate in the investment market cautiously
● Image sourced from Binance
#BinanceWallet #PredictFun #預測市場 #pp $BNB