🖥️How to use Exotic Markets
Last updated
Last updated
To participate in Exotic Markets, visit https://exoticmarkets.xyz/#/markets. You can use the steps below as guide for using the platform along with the embedded video guide.
You can search for markets using the search bar in the upper right corner of the page. You can also use the filter button to view markets in different status', the "All Type" button to view different market types, the "All" button to view available tags, and the Sort button to sort by "Time Remaining", "Pool sizes" and "Ticket Price".
To view and/or claim your positions, you can click on "My Positions" or "Claimable" tabs.
To create an Exotic Market, click on the "Create Market" button.
Enter the Market Question, the Data Source, a Description of the Market and the available Positions. You can click "+ ADD position" to enter more than the default of 2. You must also enter the time for positioning to end (in UTC time).
Next, select the market type (Fixed ticket or Open bid), the ticket price if the market is fixed, whether or not withdrawals will be allowed, select relevant tags, and enter your initial position. Then you can approve the sUSD and complete the transaction.
From the Markets page, navigate to an Open Market and click on it.
Select your position, approve the sUSD and confirm the transaction.
You can view the data source for a market by clicking on the "Data Source" button. You can also view the time remaining for positioning, the total pool size and the current number of participants. Finally, all recent market activity is listed at the bottom of the market page.
Once you've bought a position you can view this position from the "My Positions" tab on the home page until this market resolves. If you win you can claim your winnings from the "Claimable" tab once the market formally resolves.
For Open bid markets, traders can select the type of collateral they'd like to use and then enter the amount of collateral they want to add to the market pool, between 10 and 10,000 sUSD (or USDC on Polygon). Enter the desired amount and click "bid" to purchase your position.
Repositioning
Users can reposition as many times as they want as long as they are still within the positioning phase. To change your position you must first change the original position to 0, then you can enter your desired amount of sUSD into a new position. Once you've made these updates click on the "Change Position" button on a market's page and complete the transaction.
For Open Bid Markets, you can use the "Reset positions" button, or manually change the amounts.
Withdrawing a Position
If withdrawals are allowed, you can withdraw your position from a market up to 8 hours before positioning ends. To withdraw, click on the "Withdraw" button on a markets page and complete the transaction. Withdrawal fees will be included in the transaction cost.
You can share a market to your Twitter account from a market's page by clicking on the Twitter icon in the upper right corner.
To dispute a market still in the positioning phase, go to a specific Market's page and click the "Dispute Market" button. The number of open disputes is listed next to this button.
Enter the reason for the dispute and click "Open Dispute". The transaction to submit the dispute will include the required bond.
Once a market has reached maturity it will enter the "Pending Resolution" phase where any user can resolve it by selecting the correct outcome and clicking the "Resolve Market" button. The transaction to submit the resolution will include the required bond. A resolution can be disputed (see next section) and the resolvers bond can be slashed, so make sure you select the correct result when resolving a market.
When a market has been formally resolved (24 hours has passed since resolution), users can claim their winnings.
You can find markets pending resolution by clicking on the "Pending Resolution" filter option on the Home page.
Once a market has been resolved there is a period of 24 hours where anyone can dispute the resolution. If you believe a resolution for a recently resolved market is incorrect, you dispute it by clicking on the "Dispute Resolution" button. You can see the number of open disputes next to this button.
To claim a winning position, navigate to a market that has been successfully resolved and 24 hours have passed to confirm this resolution. Click on the "Claim" button and complete the transaction to receive your winnings.
