In an exciting development for the cryptocurrency community, Zeitgeist, a pioneering decentralized application (dApp) for prediction markets, has announced a strategic collaboration with CoinDesk Indices (CDI), a leading provider of digital asset indices by assets under management (AUM) since 2014. This collaboration aims to bring fresh insights and signals to prediction markets, enhancing tradeable crypto sectors.
Logan Saether, CEO of Zeitgeist, said: “Utilizing CoinDesk Indices’ expertise allows us to offer unparalleled prediction markets on one of the leading crypto index platforms in the world.”
Zeitgeist introduced its prediction market application on the Polkadot tech stack in 2021 and has experienced a continuous upward trend in prediction volumes in subsequent years.
The company is now poised to operate prediction markets linked to two prominent crypto sector indices: the CoinDesk DeFi Select Index and the CoinDesk Smart Contract Platform Select Index. These markets will provide cryptocurrency traders and data analysts with a platform to forecast potential monthly levels of these indices.
CoinDesk Indices’ sector indices are meticulously designed to measure the market capitalization-weighted performance of the most liquid digital assets that meet specific requirements. Leveraging the Digital Asset Classification Standard (DACS), each index comprises a basket of various digital assets.
As of September 30, 2023, the CoinDesk DeFi Select Index includes Aave (AAVE), Curve DAO (CRV), Maker (MKR), Lido DAO (LDO), Synthetix (SNX), and Uniswap (UNI). On the other hand, the CoinDesk Smart Contract Platform Select Index encompasses Avalanche (AVAX), Cardano (ADA), Cosmos (ATOM), Ethereum (ETH), Polkadot (DOT), Polygon (MATIC), and Solana (SOL).
Andy Baehr, CFA, Managing Director at CoinDesk Indices, mentioned, “We are excited to see two of our select sector indices support prediction markets at Zeitgeist. The DeFi and Smart Contract Platform select indices, built using our DACS framework, provide users with easy access to intuitive segments and key themes of the digital asset space.”
This collaboration between Zeitgeist and CoinDesk Indices holds the promise of enhancing the landscape of prediction markets in the crypto sphere, injecting fresh perspectives and data into an evolving market, and enabling users to make more informed decisions in the dynamic crypto world.