Since Bitcoin’s whitepaper was published in 2008, crypto grew from a fringe cypherpunk movement to a multibillion-dollar industry replete with thousands of different projects and coins. CoinMarketCap reports that there are now approximately 21,000 coins in existence, with a total market capitalization of one trillion dollars.
With the price of these assets moving up and down like an elevator — after all, the crypto industry is known for its crazy volatility unparalleled in any other business sector — traders can test their luck and make big fortunes by trying to predict in what direction the market will move.
But how exactly do you try to time the market? The answer is Logium — the future of P2P crypto betting.
What is Logium?
Logium touts itself as the first platform that allows users to bet on any token listed on Uniswap. Considering that currently there are around 1,000 coins and 1,700 trading pairs available on the exchange, this certainly doesn’t look like a trivial task. With its far-reaching ambitions, Logium, still a newcomer to the crypto betting world, sets the bar aggressively high — and we are curious to follow the path of the rising DeFi star.
With this decentralized platform, traders can bet with each other on whether the price of a certain asset will move up or down. Every trade on Logium is executed in a peer-to-peer fashion, which means that it doesn’t hold any of its users’ funds, staying firmly committed to the DeFi values of decentralization, indiscriminate inclusion, and censorship resistance.
Currently, Logium is in its beta version, so it’s still far from its end goal of listing all Uniswap tokens. However, the devs consistently list new coins and plan to get the community to decide on which tokens will make it to the platform next.
Logium v1.1: a review of features and functionality
So, what exactly has changed with the last upgrade? Let’s break down the main features and upgrades introduced by Logium v1.1:
Improved bet flow: in the newest version of the platform, the user only has to select an asset and check additional parameters, such as price direction (higher/lower), timeframe, and multiplayer. The system will automatically show available bets which the user has to choose from. Note that in Logium v1.1 bet issuance by traders has been temporarily disabled, but developers plan to bring it back soon.
New timeframes available: unlike Logium v2, which caters to the needs of day traders, v1.1 is designed for long-term bets and swing traders, so the bet can now last from one day up to one year.
Dark mode: much more comfortable for your eyes and fits perfectly with that “professional trader with two 4K monitors” aesthetics. Nuff said.
Fever tokens, more bets: in the newest version, the devs decided to leave only two tokens (BTC, ETH, and STC) to improve the liquidity and security of the platform, but promise to bring more tokens soon.
How to place bets on Logium?
To start your adventure with P2P crypto betting, go first to the Logium v1.1 DApp: app.logium.org. There’s no need to register or go through exhausting KYC checks: once you connect your wallet, you’re pretty much set up to start trading on the platform.
In the top-right corner, click on the “Connect wallet” button and choose MetaMask. Then return to the main panel.
Next, navigate to the drop bar menu in the upper-left corner to choose from the available coins. Check the direction in which you think your asset of choice will move (lower or higher the strike price), then specify the amount of the bet.
As the platform will automatically find the best bet for you, accept it by clicking on the “Take a bet” button. You will be then asked to enable USDC in your account — this is a one-time operation required only for first-time users of Logium.
Finally, confirm a transaction on MetaMask. Congrats on the beginning of your journey with Logium — and thank you for coming to our platform!
What are the benefits of using Logium?
As a new player in the highly competitive industry, Logium has yet to carve a niche and attract a broad user base. However, you should still give it a try — and here’s why:
#1 Liquidity
Users can bet on any token listed on Uniswap, even on the low-liquid ones
#2 Ability to bet on all tokens
Logium will make betting on all tokens from Uniswap available for everyone.
#3 Shorting
Users can easily short any chosen token without owning it or filling out any KYC. Simply connect your wallet and start betting.
#4 Transparency and Security
No registration, personal data sharing, KYC, or anything remotely related to that. Every bet is transparent and available to track on Logium Smart Contract or Dune.
With Logium, trading crypto derivatives has never been easier — come to app.logium.org and convince yourself. And just FYI, the devs hinted at rewards for the early adopters, so make sure you don’t miss the next big thing!
Meanwhile, if you have any questions or would like to connect with other members of the community, consider following Logium on Twitter and joining their Discord.
