Myriad Launches Revenue Share Program, Targets DeFi Prediction Market Expansion

Executive Summary

Prediction market protocol Myriad has launched a new revenue share program, offering rewards in USDC and Myriad Points to users for referrals and extending revenue sharing to developers integrating with its ecosystem. This strategic move aims to boost user adoption and developer engagement, potentially increasing activity and innovation within the prediction market sector, though broader market sentiment remains subject to external factors.

The Event in Detail

Myriad has introduced a "Share to Earn" program designed to incentivize participation within its ecosystem. Under this new model, users who refer others to trade on Myriad's USDC markets receive 1% of the referred user's buy volume in USDC, alongside Myriad Points. This on-chain system ensures transparent and inclusive distribution of rewards, as stated by DASTAN co-founder and COO Ilan Hazan, who noted, "Our on-chain revenue share system ensures that rewards are distributed in a transparent and inclusive manner." Additionally, the protocol is extending its revenue share program to developers who build applications that integrate with Myriad using its Builder Ecosystem.

Financial Mechanics

The "Share to Earn" program operates by directly rewarding referrers with a percentage of the financial activity generated by their referrals. Specifically, when a user makes a prediction on a USDC market using a referral link, the referrer accumulates USDC equivalent to 1% of that user's buy volume. These USDC rewards accumulate directly. In addition to USDC, referrers also receive Myriad Points, a distinct token within the Myriad ecosystem, designed to further incentivize engagement and long-term participation.

Business Strategy & Market Positioning

Myriad's strategy focuses on creating a "dynamic participatory model" that rewards all ecosystem participants. This initiative follows the protocol's rapid growth, having surpassed $10 million in USDC trading volume and onboarded over 511,000 users since its introduction. The platform has facilitated more than 5.4 million predictions and seen its browser extension installed over 60,000 times, quickly ascending to the top tier of Web3 trading applications. Loxley Fernandes, co-founder and CEO of Myriad, stated that the protocol is "building the rails for prediction markets to evolve beyond a niche crypto product and become an entirely new segment of DeFi." This aggressive growth strategy positions Myriad alongside other significant players in the prediction market space, such as Polymarket and Kalshi, which have also seen substantial activity and valuations, with Polymarket raising $200 million on a $1 billion valuation and Kalshi raising $185 million on a $2 billion valuation. Myriad aims to be both a consumer platform and a B2B protocol, with plans for integrations with EigenLayer and EigenCloud, and the introduction of ERC-PRED as a new asset class for prediction markets.

Market Implications

The launch of Myriad's revenue share program carries several potential implications for the broader Web3 and DeFi ecosystems. Short-term, the referral incentives are likely to drive increased user acquisition and trading volume on Myriad, directly benefiting the protocol's liquidity and market presence. Long-term, if successful, this model could solidify Myriad's standing in the burgeoning prediction market sector and potentially serve as a blueprint for other DeFi protocols seeking to enhance user engagement and growth. The prediction market sector is projected to reach $95.5 billion by 2035, indicating significant growth potential. Furthermore, stablecoin adoption, with USDC being a key component of Myriad's reward system, is expected to reach $2 trillion by 2028. This growth trajectory for both sectors underscores the strategic importance of initiatives like Myriad's in attracting capital and participants. The move reinforces the trend of Web3 platforms leveraging tokenomics and revenue sharing to foster vibrant, participant-owned ecosystems.

Expert Commentary

Ilan Hazan, DASTAN co-founder and COO, emphasized the transparent nature of the reward system, stating, "Our on-chain revenue share system ensures that rewards are distributed in a transparent and inclusive manner." Loxley Fernandes, co-founder and CEO of Myriad, highlighted the protocol's broader vision, noting that it is "building the rails for prediction markets to evolve beyond a niche crypto product and become an entirely new segment of DeFi." This perspective aligns with broader industry forecasts, such as Thomas Peterffy's prediction that prediction markets could potentially surpass the stock market in the next 15 years, due to their unique ability to price real-world expectations.

Broader Context

Myriad's new revenue share program signifies an ongoing evolution in how Web3 protocols incentivize growth and decentralize ownership. By integrating both user referrals and developer contributions into its reward structure, Myriad is advancing a participatory model that aims to foster a more robust and self-sustaining ecosystem. This approach is central to establishing prediction markets as a fundamental component of the DeFi landscape, moving beyond their previous niche status. The success of this model could influence other DeFi projects to explore similar incentive structures, contributing to the overall maturity and expansion of the decentralized finance sector.