Ascend Don Pass 75,000 Midnight Transactions as Prediction Perps Rollout Dey Near

Ascend Market don pass 75,000 transactions for the Midnight mainnet, the project announce on October 28. Two days before, Ascend talk say e expect to begin phased rollout of im prediction perps product in about one week.

Ascend’s Activity on Midnight

This transaction milestone follow after dem introduce several Ascend trading products for Midnight. The platform dey operate spot exchange with orderbook and don launch perpetual markets for assets wey include Bitcoin and ADA. Dem still announce oil perpetual trading.

Ascend don expand access to im trading application through integrations with other blockchain ecosystems. For September, the project add support to fund accounts through Robinhood Chain and introduce TradingView charts inside the platform.

For earlier update, Ascend report say e dey approach 500 users and account for about 10% of Midnight mainnet transactions that time. The project no specify the exact period or method wey dem use calculate that share.

The latest figure of more than 75,000 dey refer to transactions wey dem associate with Ascend for Midnight. E no show how many individual trades or users contribute to the total.

Trading Changes in Event Probabilities

Prediction perps dey designed make users fit trade movements for the estimated probability of one outcome. Traders fit take long position if dem expect the probability to rise or take short position if dem expect am to fall.

Example, if market price the probability of one event at 60%, trader fit open position based on whether that percentage go increase or decrease as new information dey come out.

Ascend’s documentation describe potential markets wey relate to elections, economic releases and cryptocurrency events. The product combine probability-based prices with orderbook and perpetual trading mechanics, allow positions to open, adjust or close as prices dey move.

Leverage dey increase position exposure to those movements and fit also increase losses or even lead to liquidation.

The documentation describe closed mainnet beta for prediction perps, with World Cup events listed as the initial markets and more markets plan for later phases.

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Midnight’s Role in the Platform

Ascend dey use Midnight’s zero-knowledge infrastructure to support im trading platform. According to the project’s technical documentation, trading, account, risk and settlement rules dey enforced through Midnight, while users fit access Ascend from ecosystems wey include Cardano, EVM networks and Solana.

The architecture dey use separate systems to match orders, manage accounts and evaluate risk. Their outputs dey subject to zero-knowledge verification, with final state changes committed to Midnight.

Ascend’s account model include collateral balances, active positions and margin information. The design intend to make trading activity verifiable while e still protect underlying information, including details of user positions.