How It Works
Glossaries
Start price = Price at the round Start (=24 hours after the round Open)
End price = Price at the round End (=24 hours after the round Start)
Strike = Start Price * (100+x)%
OPEN, START, and END
1 Day traders can place orders from T-48hour to T-24hour (Start) for the option expiring at T (End).
The round is open for collating all the orders before the round starts.
Each round of 1 Day option has three phases; (1) Open
From T-48hour to T-24hour
Orders can be made for either side (or even both), Under or Over.
Multiple orders in the same round are allowed.
(2) Start
From T-24hour to T (0:00 a.m. UTC)
Start Price is determined at T-24hour.
Orders cannot be made further once the round becomes Start.
The payout amount for winner-side orders is fixed at the total order of the round (subject to the platform fee and gas fee).
(3) End
T (0:00 a.m. UTC) and onward
End Price at T is determined.
The winner is decided and the payout for the winner side participants is settled.
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