Oracle & Fixing

Price Feeds and Settlement for stVol options

Price feed from Pyth

• stVol uses Pyth, a pull-based oracle for crypto market data, for the fair calculation of options.

• Pyth Price Feeds are used for the Start Price and End Price of each rounds.

• stVol's binary options contract references the Pyth prices to determine user's trade results.

Display-wise, stVol uses chart data from TradingView BTCUSD / ETHUSD charts. However, actual fixing and settlement is made in Pyth price feeds. We advise that users only view charts as a reference.

stVol 1 hour BTC Product: Charts powered by Tradingview BTCUSD chart

Fixing

1 Hour

Due to complexities in round fixing (including blockchain latency, market fluctuations, smart contract risk), orders with less than 1 minute left before expiry have a high risk of failure. It is recommended that users place orders with enough time remaining.

• The price of each coin/token at 00 minutes @ every hour will be used for the fixings of stVol's 1 Hour options.

• More precisely, stVol listens to the Pyth price of HH:00:00 at HH:00:10 every hour.

• By structure, the End Price of Round 'N' will be used for the Start Price of Round 'N+1'. Failure in Pyth price retrieval leads to an error in both ending one round and starting a new one.

• Due to various reasons (i.e. delay/shutdown of Pyth, Ethereum or L2 network), stVol may fail to retrieve fixing prices.

  • For example, stVol fails to fetch the End Price for Round 'N'

  • stVol will retry every 2 minutes (ex. HH:02:10 / HH:04:10/ ...)

  • Until Round 'N' is fixed, the opening of Round 'N+1' will be delayed (No Start Price).

  • If the issue persists for 60 minutes, Round 'N+1' will be cancelled.

  • Afterwards, stVol will search the Start Price for Round 'N+2' and if successful, trading will be functional from Round 'N+2'

• Regardless of the operation of other rounds, stVol will attempt fixing of Round 'N' for a maximum of 24 hours (=Max. 720 attempts)

  • If fixing fails even after 24 hours, all participation amount in Round 'N' will be paid back to the participants.

1 Day (Sunset as of 3 June 2024🌇)

• The price of each coin/token at 00:00:00 UTC each day will be used for the fixings of stVol's 1 Day options.

  • More precisely, stVol listens to the Pyth prices from 00:00:00 UTC to 00:30:00 UTC daily, while using the earliest available price from such 30-minute timespan for daily fixings.

• By structure, the End Price of round 'n' will be used for the Start Price of round 'n+1'.

  • As such, failure in price feeding from Pyth leads to a failure in determining the End Price of a round. Such rounds and the immediate next round will be affected and deemed as 'Failed' rounds. Also, the opening of round 'n+2' participation will be pushed back until the price feed issue is resolved.

    • Such cases may involve network failures (i.e. delay/shutdown of Pyth or L2 network) which could cause price feeding failures within the first 30 minutes of each UTC day.

  • In such cases, the affected rounds (e.g. round 'n' & 'n+1') will be cancelled, and all the participation in the affected rounds will be paid back to the participants. Then stVol will resume operation from round 'n+2' which is delayed from its original schedule.