Dastan, Decrypt’s parent company, runs and manages an online prediction market called Myriad Markets. Dastan recently chose to utilize Chainlink as its official oracle infrastructure. The integration powers a new range of prediction markets for crypto, stocks, and commodities, with initial markets for BTC, ETH, BNB, and SOL now live, and real-world asset (RWA) markets to follow.
What Chainlink brings to Myriad
The reason Myriad chose Chainlink was driven by the need for high-speed, verifiable data and automated execution for their services. Historically, prediction markets have encountered difficulties and faced many challenges from fragmented oracle solutions, custom integrations, and centralized resolution mechanisms. Chainlink has solved these issues by providing two main components:
- Chainlink Runtime Environment (CRE): This is an all-in-one orchestration layer that automates the creation, resolution, and settlement of prediction markets. To provide developers with the ability to run complex multi-stage workflows, CRE allows institutional smart contracts to be deployed in “not months, not weeks, but finally hours,” according to Chainlink co-founder Sergey Nazarov.
- Chainlink Data Streams: This allows the near real-time payout of users’ money, which is vitally important to prediction markets where timing and accuracy are critical due to the speed and delay associated with accessing that information, thus high-speed, low-latency market data.
Myriad co-founder and COO Ilan Hazan stated that adopting Chainlink as the official oracle infrastructure “was an obvious choice to build user trust and accelerate the adoption of Myriad.” Adding that the integration enables Myriad to “realize our goal of building prediction products that match the behavior of our early user base” and launch markets that are “faster, more contextual, and aligned with how users consume information and express views in real time.”
Myriad Markets outlook
The integration comes as Myriad prepares to scale following its recent seed investment round. Initially focused on crypto, equity, and commodity markets, areas that already have a high level of engagement and liquidity, will now extend beyond crypto price predictions to include equities, indices, commodities, and other event-driven markets. “Integrating Chainlink allows Myriad to reliably create and settle markets on a much broader range of real-world datasets,” said Hazan.
Chainlink’s Johann Eid commented that “by adopting Chainlink to power its new stock, commodities, and crypto markets, Myriad is accelerating the adoption of prediction markets, by enabling quick payouts and fair outcomes. When you connect Chainlink to a high-growth market, usage expands, new participants come onchain, and the entire space moves forward.”
