Invest.com Sets Prediction Platformbr>
The invest.com Group will be launching an ethereum-based events prediction platform called Stox. According to the company, the platform will use the Bancor Protocol, a smart contract-based token conversion protocol which allows anyone to design new tokens using smart contracts.
Invest.com is an online financial service provider that combines financial expertise with technology to make smart investing accessible for novice and professional traders. The company is regulated by the Cyprus Securities and Exchange Commission and employs over 200 employees across five countries.
Stox will deploy its smart token STX using the Bancor Protocol to guarantee liquidity on ethereum, while holding BNT (Bancor’s native cryptocurrency) as its reserve. The company said that having the Bancor token in reserve guarantees continuous and high liquidity for Stox users on ethereum, an incentive for invest.com in choosing Bancor as the foundation for their platform.
Users of Stox’s prediction market platform can purchase STX directly with the BNT smart token using ETH, as well as liquidate STX back to ethereum, with low slippage and no spread.
Based on blockchain technology, Stox offers a strictly peer-to-peer trading experience. Stox runs using an algorithm that assesses what the crowd thinks about a specific event. It is also dynamic – prediction patterns and assessments change based on daily occurring events.
“We are excited to collaborate with Stox and support their effort to become a pioneer member in the Bancor network,” said Eyal Hertzog, Chief of Product, Bancor. “We believe that the guaranteed liquidity and the stability of STX will benefit token holders, the Stox project at large and provide a strong case study for the Bancor protocol.”
“Stox is a transformative step in our journey, as it allows us to combine the power of blockchain with the array of infrastructure, technical, sales and marketing assets that are currently powering invest.com,” said Ophir Gertner, founder of invest.com Group.