Blockchain platform Waves, has launched a new betting market that allows users to speculate on whether the spread of the Covid-19 pandemic has passed its peak.
The platform has two tokens in ‘COVID-UP-SEP20’ and ‘COVID-DOWN-SEP20 to bet on whether the number of weekly cases globally will exceed April 4’s record high of 595,802 confirmed infections before September. Waves’ tokens are purchased in exchange for the stablecoin, Neutrino Dollar (USDN) and all the USDN used to buy the tokens are locked in escrow until September; then distributed among winners. The campaign ostensibly contributes to help Corona virus related charities.
Waves gave away 10,000 USDT to charity
The platform also encourages winning speculators to think about contributing to the ‘#CryptoCOVID19’ charity initiative that has raised nearly $4 million so far. Waves also contributed 10,000 Tether (USDT) to a dozen charities fighting the effects of coronavirus — including TheWaterProject, NoKidHungry, PencilsofPromise, and the Lupus Foundation. The Waves spokesperson stated that the idea to launch Coronavirus-related markets was brought about by prolonged discussions on how long the pandemic lockdowns would last.
“As soon as the coronavirus epidemic started gaining momentum around the world and in Moscow, in particular, the WAVES. Exchange team switched to working remotely,” the spokesperson stated. He went on to comment on how the idea of pandemic predictions began.
“All the team members started wondering when it would all end and started sharing their predictions. Thus, the idea was born – to make predictions on the basis of the exchange. We also thought that this could be a great charity initiative in support of the #CryptoCovid19 campaign.”
Growing anti-lockdown sentiment
It is not far-fetched to say that this kind of betting has been egged on by the desire to get back to normalcy after many weeks of restrictions. In the USA, unrest is slowly brewing with many protestors beginning to “fight for their freedom”. Anti-quarantine protests have gotten a nod of approval from the white house after U.S president Donald trump posted tweets that echoed what the protestors wanted. Other popular personalities have shared similar sentiments as well on social media, one of them being Tesla CEO Elon Musk.