Prediction Market

Blitz Spectra offers an innovative prediction market platform that empowers users to create markets and buy shares predicting the outcomes of real-world events. Here's how it works:

1. Creating a Market

Unlike traditional platforms, Blitz Spectra allows the community to create markets in a decentralized manner, rather than being solely managed by the team. To create a market, connect your wallet to the Blitz Spectra website and navigate to the "Markets" section. For detailed instructions, refer to the next chapter of this whitepaper (Tutorial). Once an event concludes, the Blitz Spectra team reviews and settles the market, distributing payouts to the winners. Note that creators cannot cancel or settle their own markets to ensure fairness. If you need to cancel a market before the event concludes, please contact us.

2. Predicting an Outcome

Whether you've created a market or want to participate in one made by others, go to the Market section of the dApp and select a market to place your bet. Choose the outcome you believe will occur and buy a specified number of shares in that outcome. The odds or probabilities of an event change dynamically as more users invest in particular outcomes. For a detailed guide on predicting outcomes, see the next chapter of this whitepaper (Tutorial). After the event, the Blitz Spectra team reviews and settles the market, paying out the winners. Winners receive funds from the losing bets.

3. Referral System

Blitz Spectra features a unique referral system where users can refer others and earn one-third of all fees generated by these referrals. To participate, share your unique referral code with friends. When they connect their wallet for the first time using your code, you will earn a portion of the fees they generate. Detailed instructions on how to refer others and claim your rewards can be found in the next chapter of this whitepaper (Tutorial).