TL;DR
- Myriad recorded a 10-fold growth in its trading volume in just three months, reaching $100 million.
- The platform highlights “massive demand” and the prediction markets moving beyond their experimental phase.
- The protocol is focusing on becoming a fundamental DeFi infrastructure layer after its launch on BNB Chain.
The web3-based crypto prediction market protocol, Myriad, has reached a significant financial milestone, announcing a cumulative trading volume of $100 million since its launch. This achievement not only underscores the platform’s individual success but also the “massive demand” driving the decentralized finance (DeFi) sector as it seeks alternatives to traditional markets.
The growth experienced by the platform has been meteoric: Myriad’s trading volume soared by at least tenfold in just three months, an unprecedented record for the sector. Since its launch, the platform has captivated over 400,000 active traders who have executed more than 6.3 million trades and 7.3 million transactions.
Loxley Fernandes, co-founder and CEO of Myriad, affirmed that the rapid expansion demonstrates that prediction markets “are no longer niche experiments” but a mature asset class. For Fernandes, there is a great need for transparent and decentralized platforms where “forecasts and insights can be traded like any other financial asset.”
From Niche to Fundamental Pillar of Global DeFi
The $100 million announcement comes immediately after Myriad’s strategic deployment on the BNB Chain and the launch of “Automated Markets.” These new markets are designed with a focus on auto-resolution, short timeframes, and continuous flow, a crucial feature that allows users to participate in fast-paced trading environments without the prolonged waits of traditional settlement cycles.
The leadership team’s vision is ambitious. Ilan Hazan, co-founder and COO, explained that Myriad’s dual objective is to build “both the intuitive front-end experience for everyday users and the core crypto prediction market infrastructure that other teams rely on.” Myriad’s main focus is the engineering of its protocol layer, seeking to convert prediction markets into a “fundamental pillar of global DeFi,” providing a new tool for risk management and investment.
The overall crypto prediction market ecosystem has experienced a notable boom in recent months. Rival protocols such as Polymarket and Kalshi have achieved multi-billion dollar valuations following high-profile integrations, validating the growing acceptance of the model. In fact, last week, screenshots emerged that appeared to indicate that crypto exchange giant Coinbase is testing its own prediction market integration. Farokh Sarmad, co-founder and president of Myriad, detailed the platform’s unique strategy to become a “social layer for truth discovery” through integrations with its parent company Dastan’s media platforms: Decrypt and Rug Radio.
Sarmad concluded that this strategy creates a virtuous cycle: media coverage drives attention, attention fuels trading volume, and that volume, in turn, attracts essential liquidity and new traders to the crypto prediction market.
