Market Lifecycle

1. Creation

A user creates a market by specifying the question, category, token, resolution date, and placing an opening bet. The creator chooses a side for their opening position and selects the resolution type (auto or manual).

2. Active Trading

Other users place predictions on their chosen outcome. The pool grows as more stakes come in. Implied odds shift as the balance between outcomes changes.

3. Trading Cutoff

Predictions are no longer accepted after the cutoff time. Any predictions submitted after cutoff are automatically refunded. The cutoff time varies by market category.

4. Betting Close

The market reaches its close time. No further predictions or cash-outs are possible.

5. Resolution

The market outcome is determined. Auto-resolution markets (price and supported sports) are resolved by the backend via market data or score data. Manual markets are resolved by admins after reviewing community-submitted proof.

6. Payout

Winnings are calculated and distributed on-chain. Winners receive their principal back plus their share of the profit pool after platform fees.

Early Resolution

Manual markets can opt in to early resolution, allowing resolution before the scheduled betting close if the outcome is already known. When early resolution occurs, any predictions placed after the outcome became known are refunded.

Other States

Markets can also be suspended (temporarily paused by admins), voided (cancelled with all stakes refunded), or cancelled (removed before going active).