📈Choosing your Position
Last updated
Last updated
Positioning is easy with Exotic Markets. Simply scan through the available markets, choose a position and badda-bing, you're done! No charting, no metrics, just your gut feeling leading the way.
To find a market to trade, navigate to https://exoticmarkets.xyz/#/markets. You have a number of tools at your disposal, including a search bar, filters and tags. You can use the search bar to find a specific keyword or set of keywords. Markets can be sorted by Time remaining, Pool Size (amount of sUSD collateral currently added to a market), and Ticket Price.
There are also a number of filters based on the status or stage of a market, making it easy to find what you're looking for. These included:
Active Markets
Pending Resolution, Recently Resolved, Resolved
Cancelled, Paused, Disputed
My Positions, Claimable, Without Position
Finally, there are tags you can use to sift through available markets. The Oracle Council is tasked with maintaining the available tags, which currently include the following:
Sports
Crypto
Political-Elections
Pop-culture
Esports
Macro-Economics
Finance
Web3
Once a market has been created and a bond has been put up by the market creator, traders can begin purchasing positions. Participants pay an entry bid using their choice of available collateral (sUSD, USDT, USDC or DAI) and can select their position during the defined positioning phase, which can be as little as 8 hours and as long as 2 years from the time the market is created. Positioning must end before the event defined in the market question officially begins.
Once you select your position and complete the transaction, you will be able to see the pool size and ROI change based on the amount you entered into the market pool. Pool size and ROI will continue to fluctuate as participants enter the markets up until positioning is over.
Odds are not fixed for Parimutuel Markets, but instead change with more activity. The final amount placed on each position determines the final odds. Projected winnings/ROI are displayed as if positioning was to end at that moment, but this will likely fluctuate until the positioning phase ends, so your actual potential winnings will change as more positions are purchased by other users. Keep this in mind when participating in parimutuel markets.
For fixed bid markets, traders can select a single position and pay the fixed amount for that position. This means each position will cost the same amount of collateral.
Open bid markets allow traders to decide how much collateral they'd like to enter into the market (between 10 and 10,000 sUSD). This amount can be changed as part of repositioning (see below).
For fixed markets, users can only have one position for each market, but this position can be changed as many times as the user wants within the positioning phase defined by the Market Creator.
Open bid markets allow one wallet to enter multiple bids and spread the bids across multiple positions. To reposition, they have to first pull the bid from a position and then choose to deposit it into a new position. If the wallet's position represents more than 10% of an Open Bid market's total liquidity they will not be allowed to reposition or withdraw more than 10% from that market. Only one repositioning is allowed during the positioning phase.
Finally, traders have the option to withdraw their collateral from a pool if a specific market allows withdrawals. Traders can withdraw the collateral paid for their position for sUSD, minus the 6% total fee, until the final 8 hours of positioning. Traders will not be able to withdraw once the positioning phase is down to 8 hours or less.
