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The founder of Polycule launched the prediction platform PMX, and the related Token has risen nearly 44%.
BlockBeats news, on October 1st, krish, the founder of the trading bot project Polycule based on Polymarket, announced on the X platform the launch of the prediction platform PMX in collaboration with Meteora. It is reported that PMX works by transforming each prediction market into two tokens. The "YES" and "NO" tokens are minted and gain LP pools. Due to the arbitrage wallet rebalancing prices, the prices add up to 1 dollar. After the event result is confirmed, the losing tokens will be dumped to 0, while the holders of the winning tokens will receive Airdrop rewards. As a result of this news, the PCULE (now PMX) token saw a 24-hour rise of 43.97%, with a market capitalization currently reported at 22.8 million USD. On June 8th, Polycule announced it had secured a $560,000 investment from Alliance DAO.