USDMD guides · 05EN
Using USDMD on Predikon
Predikon, the prediction market, still settles in its previous test collateral today. Its move to USDMD is being built. This guide describes how it is designed to work, and will be updated when it ships.
Deposit
You will deposit USDMD directly, or deposit testnet USDC or USDT. A USDC or USDT deposit goes to a deposit converter, which credits USDMD from its own inventory, one for one less a fee, to your Predikon balance.
What the converter does not do
It is one way. It never buys USDMD back for USDC or USDT, and the USDC and USDT it receives never enter USDMD's reserve. So the peg never depends on them.
Trade
Markets are priced and settled in USDMD, with 6 decimals, as before.
Withdraw
You withdraw USDMD to your wallet. To turn USDMD into the reserve asset, redeem it with the controller as in guide 3.
Note
Until the switch, Predikon's faucet and balances use the previous collateral. This guide does not describe the live product yet.
Nothing on these pages is an offer, a solicitation or a recommendation to buy, sell or hold any asset, in any jurisdiction. Test USDMD is not sold and has no value.