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The founder of Polycule launched the prediction platform PMX, and the related Token has risen nearly 44%.
On October 1, 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 acquire LP pools. Due to arbitrage wallets rebalancing prices, the prices add up to 1 dollar. After the event results are 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 has risen by 43.97% in the past 24 hours, with a market capitalization currently reported at 22.8 million dollars. On June 8, Polycule announced it had secured a $560,000 investment from Alliance DAO.