Round Rules
Plain language. Draft pending counsel review.
The Round
Rounds overlap. Each real round takes stakes from 00:00 UTC to 23:00 UTC, locks at 23:00 UTC, and settles at 00:00 UTC. At any moment exactly one round is accepting stakes and exactly one is locked and running. Winners split the losing pool pro rata after the public rake.
The Lock
When a round locks, staking closes and the strike price is read. The strike is never known while staking is open, so the entire move that decides the round happens after the last stake is accepted. The lock is the same for every participant.
Payout Split
Payouts are plain pro rata: payout = stake + (stake / winning pool) * losing pool * (1 minus rake). No weighting of any kind is applied. Sub unit remainders round down and stay in the pool.
The Rake
A flat 3 percent of every settled pool, the same number on every series and for every participant. It is published before you stake and taken at settle, never from your balance.
Settlement
The close price is read from the on-chain oracle at 00:00 UTC, taken as the median of five independent feeds. Higher wins if the close price is strictly greater than the strike. Lower wins if it is strictly less. The same price read closes one round and sets the strike of the next.
Void Policy
If fewer than two feeds respond, or the feeds disagree by more than 0.5 percent, the round is voided and all stakes are returned in full. No rake is taken on a voided round. Exact equality at the oracle's published tick precision also voids the round, as does a one sided pool.
Demo Build
This site runs overlapping windows against the live BTC price for demonstration only. One live series runs: BTC higher or lower on a five minute cadence, with more durations to follow. No real value is staked or paid. Real rounds settle over 24h and are not available to US persons.