⚡1 Hour option

Pay $X to win $100, expires every hour - available in Lite / Degen mode

Price is what you pay, $100 is what you get (if you win)

• Users can make predictions on price changes of various coins/tokens for a maturity of max 1 hour.

Price Dashboard for 1 Hour option (L: Lite Mode / R: Degen Mode)

• Strikes: At every 00m00s of the hour, 5 different strikes (101%, 100.5%, 100%, 99.5%, 99%) are generated for both BTC and ETH.

  • 100% is the Start Price of such round, i.e. price fixing from Oracle at every hour 00m 00s.

• Under or Over for each Strike: users can enter positions in either up/down for these strikes, upon their market view on the token's price movement in the short term (=less than 1 hour).

  • Over, if users think the price > strike at expiry

  • Under, if users think the price < strike at expiry

  • ex) Buying BTC/USD OVER +1% @ 11:05 means you think BTC/USD will rise more than 1% from 11:00~12:00

• Price: Users will pay upfront $ amount (=price of the option) shown in the dashboard to enter the position.

  • Prices are affected by remaining time to expiry / underlying price changes / volatility etc.

  • ex) BTC/USD OVER +1% price @ 11:05 is $45 -> Probability priced-in that you win $100

• Market Order (take the current best price) / Limit Order (wait for better prices).

  • Filled orders cannot be cancelled.

  • Instead, users can Close the position not waiting until expiry - by entering into the opposite position at the same Strike.

    • Ex) If the price of an option bought at $45 becomes $75 in just 15 minutes, the user can close the position and lock in $30 profit (+100%).

• Payoff: At expiry, users who still have positions will win $100 (subject to a 2% platform fee) if the price of such coin/token;

  • ends higher than the Strike, for an Over position.

  • ends lower than the Strike, for an Under position.

  • In other cases, users waited until the expiry win 0.

  • So your PnL in the example above would be ($100 - $45 = $55, less fees)