How does market resolution work?

Learn about the crowdsourced market resolution process.

Crowdsourced event resolution represents an important step towards the full decentralization of our prediction markets.

Crowdsourced Event Resolution

The following process is done using L3P as the bond currency:

• After the event resolution date has elapsed, people will be able to place bonds — let’s call them answers — on the outcome which they believe is the correct one.

• Answers can be challenged via the posting of another answer and a higher bond.

• A timeout period is started after an answer is placed. After that timeout expires with no challenges, that final unchallenged answer is accepted as the correct one.

• Correct answers receive their bond back, plus the reward and incorrect answers lose their bond.

How-to Instructions

After the event expiration date elapses, users can now place a bond, using L3P as the token for disputes.

Step 1: Get L3P

Check our guide on how to buy L3P on Binance Smart Chain (BNB Chain):

pageWhere can I get L3P?

Step 2:

Allow our platform to use your L3P. Click on the Allow L3P button. You’ll get a wallet popup to authorize the transaction.

Step 3:

Place a bond on the correct outcome. Use the input field or slider for your convenience.

After the bond is placed, a 3-day timeout period is started, which will allow other users to dispute and place bonds on other outcomes. Every time a user places a bond on a different outcome, that 3-day period restarts, and the L3P amount needed to place a bond doubles.

You can show how much time is left until the timeout period expires and the market resolves on the report screen above the input.

Step 4:

Please wait until the timeout period has elapsed.

Once elapsed, you are now one step away from claiming your winnings! After the timeout period is completed, the smart contract needs to acknowledge the bonds placed and compute the market payouts. That can be done by clicking Resolve on the screen.

Step 5:

The market is resolved 🎉 Go to your profile page to see the winning

pageProfile Page