The blockchain-based prediction protocol Myriad announced on Sept. 1 that it has surpassed $10 million in USDC trading volume since its launch in March. The platform has also facilitated over 5.4 million predictions, onboarded 511,000 users, and seen its browser extension installed more than 60,000 times.

In a statement, Myriad said the milestone showcases not only its rapid adoption but also aligns with its vision to establish prediction markets as a core segment within decentralized finance (DeFi). Loxley Fernandes, co-founder and CEO of Myriad, stated that the protocol is pushing the boundaries of the predictions business.

“Financial markets have always been about speculation, but Myriad is turning speculation into a product. We’re showing that trading ideas and forecasts is not only possible, it’s the next frontier for capital markets. Myriad is building the rails for prediction markets to evolve beyond a niche crypto product and become an entirely new segment of DeFi,” Fernandes remarked.

The statement also notes that Myriad is positioning itself as both a consumer platform and a B2B protocol for other prediction applications. It has been deployed on Abstract and Linea, with plans for further integrations with Eigenlayer and Eigencloud.

Once a niche and often-ridiculed corner of the crypto world, blockchain-based prediction markets have solidified their credibility after accurately forecasting key political outcomes, most notably Donald Trump’s victory in the U.S. presidential election. This landmark event served as a powerful validator for the technology, sparking a surge in popularity. As a result, these platforms have evolved beyond speculative hobbies and are now increasingly seen as a legitimate source for aggregating real-time insights into future events.

However, the skepticism towards these markets is not unwarranted, as some perceive them to operate in a murky legal area that blurs the lines between a financial service and a betting activity. Even when operating with good intentions, prediction markets face practical issues that can undermine their accuracy and fairness.

To address some of these concerns, Fernandes told Bitcoin.com News that Myriad uses a range of proprietary and third-party tools to ideate, formulate, and publish event contracts.

“We lean very heavily into standards that our seasoned journalism team follows. By creating robust and clear rulesets, we eliminate the possibility of disputes,” the CEO added.

When asked about attracting a broader audience beyond the initial Web3 community, Fernandes said Myriad’s goal “is to meet the user where they are.”

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