The market run
A simulated run-through of the OmenMarketMaker app UX: twelve events from the first bet to the signed ruling that settles it. The court run continues the story on demothemis.com, with the resolution bond, the jury, the appeal, and finality.
To play through every app screen, we recommend clicking Fill the page so the app screens are easier to see.
They lock the moment this bet lands. After that nothing about the question can change, by you or by us.
They lock the moment this bet lands. After that nothing about the question can change, by you or by us.
Locked at the first bet, not at close. Anyone buying after this is buying into terms they can read in full.
Price, volume and holders can move. The question cannot.
Locked at the first bet, not at close. Anyone buying after this is buying into terms they can read in full.
Price, volume and holders can move. The question cannot.
That slope is what stops a single wallet buying the price outright. Everyone watching will see the print.
That slope is what stops a single wallet buying the price outright. Everyone watching will see the print.
The product says so plainly rather than filling you quietly.
The product says so plainly rather than filling you quietly.
No market maker was hired to do this. The counterparty is another user taking the other side because they want it.
Nothing to click. The quote firms up when a counterparty is matched.
No market maker was hired to do this. The counterparty is another user taking the other side because they want it.
Nothing to click. The quote firms up when a counterparty is matched.
Better than the curve would have given you, worse than the screen. That is what a fair price for size in a thin market looks like.
Everyone else’s price is unchanged, because your trade never touches the pool.
Better than the curve would have given you, worse than the screen. That is what a fair price for size in a thin market looks like.
Everyone else’s price is unchanged, because your trade never touches the pool.
Below the threshold the pool is the only counterparty, and that is fine. Above it, holders can quote to each other.
Nothing about the question changed. What changed is who can hold the record of your position.
Below the threshold the pool is the only counterparty, and that is fine. Above it, holders can quote to each other.
Nothing about the question changed. What changed is who can hold the record of your position.
Claims are ERC-20 tokens against the escrow contract. We are not holding them for you.
They can come back any time to trade here. If this company disappears, the claim still settles on-chain.
Claims are ERC-20 tokens against the escrow contract. We are not holding them for you.
They can come back any time to trade here. If this company disappears, the claim still settles on-chain.
Nobody has to accept it and nobody can move it.
Nobody has to accept it and nobody can move it.
Each leg keeps its own price, close time and evidence source. None of them knows it is in a parlay.
The odds are the product of the legs, not a number a house chose to publish.
Each leg keeps its own price, close time and evidence source. None of them knows it is in a parlay.
The odds are the product of the legs, not a number a house chose to publish.
Every parlay here is peer-to-peer. No house edge is added on top, and the counterparties are people.
One token covering all three legs.
Every parlay here is peer-to-peer. No house edge is added on top, and the counterparties are people.
One token covering all three legs.
The parlay has no special standing. It waits on the same ruling, on the same frozen record, as everyone else in that market.
A losing leg settles the whole claim at zero. A winning parlay waits for its slowest leg.
The parlay has no special standing. It waits on the same ruling, on the same frozen record, as everyone else in that market.
A losing leg settles the whole claim at zero. A winning parlay waits for its slowest leg.
Every term is frozen at the first stake here exactly as in a public market. Being private changes who can see it, not what it is.
Same market machinery, restricted audience.
Every term is frozen at the first stake here exactly as in a public market. Being private changes who can see it, not what it is.
Same market machinery, restricted audience.
Nobody in the room can spend it, delay it, or decide it. That includes whoever set the room up.
The usual answer to a private bet is a friend holding the money. Here nobody holds it.
Nobody in the room can spend it, delay it, or decide it. That includes whoever set the room up.
The usual answer to a private bet is a friend holding the money. Here nobody holds it.
A private market with a private judge is just a bet with a referee who has money on it. This is the part that cannot be private.
Anyone in the room can pay toward the fee. It is a bond, returned on a real verdict.
A private market with a private judge is just a bet with a referee who has money on it. This is the part that cannot be private.
Anyone in the room can pay toward the fee. It is a bond, returned on a real verdict.
These were fixed when the first bet landed, months ago. Reading them now is reading the same words the first buyer read.
Nothing about the question can be reinterpreted now, because nothing about it was ever ours to reinterpret.
These were fixed when the first bet landed, months ago. Reading them now is reading the same words the first buyer read.
Nothing about the question can be reinterpreted now, because nothing about it was ever ours to reinterpret.
Freeze the record, then pick the judges. Do it the other way round and the record can be shaped to suit them.
0x7f3a…c412Anyone can check the hash now or later. Nobody can add a favourable source or drop an unfavourable one.
Freeze the record, then pick the judges. Do it the other way round and the record can be shaped to suit them.
0x7f3a…c412Anyone can check the hash now or later. Nobody can add a favourable source or drop an unfavourable one.
Will the DemoThemis Spark Track Mini App Grant application be approved?
The court is given the frozen record and this question, in these words. It is not asked what it thinks would be fair.
Publishing the fee is what stops the richest party quietly being the one who can afford a ruling.
Will the DemoThemis Spark Track Mini App Grant application be approved?
The court is given the frozen record and this question, in these words. It is not asked what it thinks would be fair.
Publishing the fee is what stops the richest party quietly being the one who can afford a ruling.
Contributions stay withdrawable until the case is sent.
Contributions stay withdrawable until the case is sent.
Collateral stays at OmenMarketMaker until finality. The court decides the answer. It never holds the money.
Anyone could have paid it, so no one party owns the decision to prosecute.
Collateral stays at OmenMarketMaker until finality. The court decides the answer. It never holds the money.
Anyone could have paid it, so no one party owns the decision to prosecute.
Anyone who wants out before the ruling can sell to anyone who wants in. Nobody is held here.
A dispute costs you time, never your position.
Anyone who wants out before the ruling can sell to anyone who wants in. Nobody is held here.
A dispute costs you time, never your position.
Nobody has inside knowledge of the panel. The draw is bound to the case and the ballots are sealed.
88¢ on day 3 of 7 is the market pricing the verdict.
Nobody has inside knowledge of the panel. The draw is bound to the case and the ballots are sealed.
88¢ on day 3 of 7 is the market pricing the verdict.
How the panel is drawn, how personhood is checked and how ballots stay sealed is the court’s business, published in its own right.
If the market could see the jurors, the market could reach them. Not seeing them is the feature.
How the panel is drawn, how personhood is checked and how ballots stay sealed is the court’s business, published in its own right.
If the market could see the jurors, the market could reach them. Not seeing them is the feature.
Watching is not a step you take. It is the state the market sits in while the court works.
A dispute you can watch is a dispute you can plan around.
Watching is not a step you take. It is the state the market sits in while the court works.
A dispute you can watch is a dispute you can plan around.
0x91be…07aaA published appeal price is the difference between a right of appeal and a favour you have to ask for.
The first verdict is not the last word, and the price of challenging it is published rather than negotiated.
0x91be…07aaA published appeal price is the difference between a right of appeal and a favour you have to ask for.
The first verdict is not the last word, and the price of challenging it is published rather than negotiated.
The side that lost the first ruling has no more power to appeal than the side that won, or than somebody who never traded.
Same mechanism as the first fee. An appeal that only a rich party can afford is not an appeal.
The side that lost the first ruling has no more power to appeal than the side that won, or than somebody who never traded.
Same mechanism as the first fee. An appeal that only a rich party can afford is not an appeal.
0x91be…07aaThe question keeps its answer and its provenance together. That is what makes an old market worth reading.
The signature is verifiable on the page. The panel size and the timestamp stay attached to the question permanently.
0x91be…07aaThe question keeps its answer and its provenance together. That is what makes an old market worth reading.
The signature is verifiable on the page. The panel size and the timestamp stay attached to the question permanently.
0x91be…07aaThe escrow contract has held the money since the first bet. It releases against a signature it can check itself.
Nobody to chase and nobody to ask.
0x91be…07aaThe escrow contract has held the money since the first bet. It releases against a signature it can check itself.
Nobody to chase and nobody to ask.
A venue that nets fees into the payout can quietly change them. A venue that lists them has to defend them.
One market, opened with $40 by one wallet, priced by a crowd, judged by strangers nobody could buy, and paid without asking anyone’s permission.
A venue that nets fees into the payout can quietly change them. A venue that lists them has to defend them.
One market, opened with $40 by one wallet, priced by a crowd, judged by strangers nobody could buy, and paid without asking anyone’s permission.
The market state map
Three permanent rails keep every product view neutral and fully collateralized.