Frequently Asked Questions

What is DegenPredict?

DegenPredict is a decentralized prediction market platform built on Solana. It allows users to create and participate in prediction markets on virtually any topic, from crypto prices to sports outcomes and political events. What makes us unique is our hybrid AI-human resolution system that combines artificial intelligence with human judgment to resolve markets quickly and accurately.

How do I get started with DegenPredict?

Getting started with DegenPredict is easy:

1. Connect your Solana wallet (such as Phantom, Solflare, or Backpack)
2. Browse existing prediction markets or create your own
3. Buy "Yes" or "No" shares in predictions you want to participate in
4. When the market resolves, your winnings (if any) will be automatically sent to your wallet

What wallets are supported?

DegenPredict supports all major Solana wallets, including Phantom, Solflare, Backpack, Slope, Math Wallet, Coin98, and more. As long as your wallet is compatible with the Solana blockchain, you should be able to connect it to our platform.

Do I need to create an account?

No traditional account creation is required. Simply connect your Solana wallet, and you're ready to start using DegenPredict. Your wallet address serves as your identity on the platform, and all your activities and earnings are tied to it.

How do I create a prediction market?

To create a prediction market:

1. Click on the "Create" button in the navigation bar
2. Define a clear, verifiable question for your market
3. Set an end date for when the prediction should be resolved
4. Provide initial liquidity (minimum 1 SOL)
5. Submit your market for review

Once approved, your market will be live, and you'll earn 3% of winning trades generated by it.

How are prediction markets resolved?

DegenPredict uses a hybrid AI-human resolution system:

• Simple markets (like price predictions) are resolved automatically by our AI system, which analyzes relevant data sources.
• Complex markets are first assessed by the AI, then reviewed by a panel of human judges selected from our DAO members.
• Resolution typically occurs within 1-24 hours after the market end date.
• All resolution decisions are final and binding.

What fees does DegenPredict charge?

DegenPredict charges a 1% fee on all trades. 3% of winning trades goes to the market creator in SOL, 7% of winning trades goes to the DAO treasury in SOL, and 40% goes to the platform.

There are no additional fees for creating markets or withdrawing funds.

What types of prediction markets are allowed?

DegenPredict allows prediction markets on a wide range of topics, including:

• Cryptocurrency prices and events
• Sports outcomes
• Political events
• Technology developments
• Entertainment and media
• Economic indicators

Markets that involve illegal activities, hate speech, violence, or harm to individuals or groups are prohibited. All markets must have clear, verifiable resolution criteria.

What is the $DGEN token?

$DGEN is the governance and utility token of the DegenPredict platform. It allows holders to participate in DAO governance, receive fee discounts, unlock premium features, and earn staking rewards. The token has a fixed supply of 100 million and is built on the Solana blockchain.

How do I earn rewards as a creator?

As a prediction market creator, you earn 3% of winning trades generated by your markets. These rewards are:

• Accumulated in real-time as trading occurs
• Paid in SOL directly to your connected wallet
• Claimable at any time through your dashboard

Premium creators (those holding $DGEN tokens) can earn even higher percentages of trading fees.

What are the creator tiers?

DegenPredict offers three creator tiers:

• Standard: 3% fee share, no token requirement
• Premium: 3.5% fee share, requires holding 10,000+ $DGEN tokens
• Elite: 4% fee share, requires holding 50,000+ $DGEN tokens

Higher tiers also include additional benefits like priority resolution, featured placement, and advanced analytics.

How do I stake $DGEN tokens?

To stake your $DGEN tokens:

1. Navigate to the "Token" page
2. Click on the "Stake" button
3. Enter the amount you wish to stake
4. Confirm the transaction in your wallet

Staked tokens earn a share of platform fees, currently offering an APY of approximately 18.5%. You can unstake at any time, with a 7-day cooldown period.

I'm having trouble connecting my wallet. What should I do?

If you're having trouble connecting your wallet:

1. Make sure your wallet is installed and up to date
2. Refresh the page and try connecting again
3. Check that you're on the correct network (Solana mainnet)
4. Clear your browser cache and cookies
5. Try using a different browser

If you're still having issues, please contact our support team through Discord or email.

My transaction failed. What happened?

Transaction failures can occur for several reasons:

• Insufficient SOL for transaction fees
• Network congestion on Solana
• Slippage tolerance set too low
• Temporary platform issues

Try refreshing the page and attempting the transaction again. If the problem persists, check your wallet balance and the Solana network status before contacting support.

How do I dispute a market resolution?

If you believe a market has been incorrectly resolved:

1. Navigate to the market page
2. Click on the "Dispute Resolution" button
3. Provide evidence supporting your claim
4. Stake the required amount of $DGEN tokens (to prevent frivolous disputes)

Disputes are reviewed by a larger panel of judges from our DAO. If your dispute is successful, your staked tokens will be returned. If rejected, the tokens are forfeited.

Is DegenPredict secure?

Yes, DegenPredict prioritizes security through:

• Smart contracts audited by leading security firms
• Non-custodial design (we never hold your funds)
• Regular security updates and bug bounty programs
• Transparent, on-chain transactions
• Multi-sig treasury management

However, as with any DeFi platform, users should exercise caution, only connect trusted wallets, and never share private keys or seed phrases.

How do I join the DegenPredict DAO?

To join the DAO, you need to hold $DGEN tokens. Once you have tokens in your wallet, you can participate in governance by voting on proposals and serving on resolution panels. There's no formal registration process—your voting power is proportional to the number of tokens you hold.

How does the proposal process work?

The proposal process follows these steps:

1. Any DAO member holding at least 10,000 $DGEN tokens can create a proposal
2. Proposals enter a 3-day discussion period for community debate
3. Voting begins after the discussion period and lasts for 5 days
4. For a proposal to pass, it must receive a majority vote (>50%) and meet a quorum requirement of at least 10% of all $DGEN tokens participating
5. Approved proposals are implemented according to a predefined timeline

What can I vote on as a DAO member?

As a DAO member, you can vote on various aspects of the platform, including:

• Protocol upgrades and feature additions
• Fee structure adjustments
• Treasury fund allocations
• Changes to governance parameters
• Partnerships and integrations

How do I serve on resolution panels?

DAO members can apply to serve on resolution panels by staking a minimum amount of $DGEN tokens and demonstrating expertise in relevant areas. Panel members are selected based on their reputation, token holdings, and knowledge of the subject matter. Serving on panels earns additional $DGEN tokens as compensation for your time and expertise.