HedgeTrade has integrated NEM’s native token XEM into its community driven predictions market. The partnership brings together two defi communities while offering crypto traders worldwide additional earning opportunities and insights.
Social traders at HedgeTrade will gain two additional trading pairs to use in creating prediction Blueprints: XEM/USDT and XEM/BTC. Once the Blueprints are published, they can be purchased by novice traders who can then unlock the details and make the copytrade. Incentives for traders and novices are in alignment on the HedgeTrade predictions platform, giving both groups opportunities to earn $HEDG and gain trading insights.
Through this collaboration, the NEM community has a new analysis tool to gauge market sentiment about $XEM price and their blockchain development ecosystem. Prediction Blueprints and individual trader success scores are verified using blockchain technology and a unique reputation algorithm, providing a trusted source for sentiment analysis for those following the NEM project.
HedgeTrade is a platform where traders stake HEDG tokens and post trading predictions that users can purchase to unlock hidden trade details. If the trader’s prediction becomes correct, they earn back their HEDG and the HEDG from the purchasers of the predictions. If incorrect, the traders lose their HEDG and the purchasers get a refund plus a portion of the HEDG from the traders initial stake. The model aligns the interests of the predictors and the purchasers.
Regarding the recent NEM partnership, HedgeTrade CEO, David Waslen, stated that, “NEM is a highly-esteemed, long-standing blockchain company. So we’re very happy to introduce the HedgeTrade community to the NEM project. By enabling our traders to make predictions on XEM, they have another way to profit from their accurate trading calls. At the same time this builds important sentiment data based on NEM’s many exciting initiatives.”
With its headquarters in Singapore, HedgeTrade is led by Co-Founder/CEO David Waslen and Co-Founder/Lead Developer Peter Danihel.
Learn more at HedgeTrade.com.
NEM Group supports the development of NEMNIS1 and Symbol from NEM, which launches towards the end of 2020. Symbol is the next-generation enterprise-grade blockchain solution from NEM, purpose-built for Enterprise adoption. NEMNIS1 (XEM), is NEM’s original blockchain and launched in 2015. NEM Group comprises three separate entities: NEM Software, NEM Trading, and NEM Ventures. The three combined contribute to the development of blockchain technology for generations to come. NEMNIS1’s native currency is XEM, which can be ‘harvested’ using its POI (Proof-of-Importance) algorithm.
Dave Hodgson, CIO of NEM Group, said, “The partnership with HedgeTrade represents another significant step as we look to create more opportunities for our community to create value through access to different platforms and expertise. In the case of HedgeTrade, being able follow trading predictions will help to gather meaningful insights on XEM. We look forward to working closely together as we move towards the launch of Symbol.”
NEM Group is a global blockchain development company led by CEO, David Shaw with headquarters in Gibraltar.
Learn more at NEM.io