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Polymarket Deconstructed

Shared by hh

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Agenda

  • Background
  • Technical Architecture
    • Trading
    • Binary market creating/resolving
    • Negrisk market creating/resolving
    • Sports market creating
  • References

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Background

[1] https://home.uchicago.edu/~vlima/courses/econ200/spring01/hayek.pdf

[2] https://polymarket.us/

[3] https://polymarket.com/

[4] https://frontofficesports.com/why-polymarket-has-huge-boom-or-bust-potential-in-u-s/

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1. 1945

The economic problem of society is thus not merely a problem of how to allocate 'given' resources if 'given' is taken to mean given to a single mind which deliberately solves the problem set by these 'data.' It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only these individuals know. Or, to put it briefly, it is a problem of the utilization of knowledge not given to anyone in its totality.

——《The Use of Knowledge in Society》[1]

2. 2022[2][3]

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3. Institutional Entry: ICE’s $2 Billion Investment[4]

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Background

Sports

Binary

Negrisk

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Technical Architecture[5] —— Trading

Exchange fee module

Ctf exchange

Frontend

NegRisk Adapter

Genosis CTF

NegRisk exchange

User

Operator sever

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Technical Architecture [5] —— Trading

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Technical Architecture [5] —— Trading

 

Uma Ctf Adapter

NegRisk exchange

Genosis CTF

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Technical Architecture [5] —— Binary market creating/resolving

Admin

NegRisk Adapter

Genosis CTF

UMA

NegRisk Operator

Uma Ctf Adapter [7]

Uma Negrisk Adapter [8]

market resolving

market creating

① initialize

② prepareCondition

③ optimisticOracle.requestPrice

① commit_price

③ resolve

② priceDisputed

Liveness

④ ctf.reportPayouts

[0,1] [1,0] 1u*1/(0+1)

[1,1] -> 1u*1/(1+1)

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Technical Architecture [5] —— Negrisk market creating/resolving

Admin

NegRisk Adapter

Genosis CTF

UMA

NegRisk Operator

Uma Ctf Adapter [7]

Uma Negrisk Adapter[8]

market resolving

market creating

① prepareMarket

④ optimisticOracle.requestPrice

① commit_price

③ resolve

② priceDisputed

Liveness

② prepareQuestion

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③ initialize

④ NegRiskOperator.reportPayouts

⑤ Verify & Save

*emergencyResolveQuestion

⑥ resolveQuestion

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Technical Architecture [5] —— Sports game creating

UmaSportsOracle

②.a createWinnerMarket

②.c createTotalsMarket

① createGame

②.b createSpreadsMarket

UMA

gameId

request

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References

[1] https://home.uchicago.edu/~vlima/courses/econ200/spring01/hayek.pdf

[2] https://polymarket.us/

[3] https://polymarket.com/

[4] https://frontofficesports.com/why-polymarket-has-huge-boom-or-bust-potential-in-u-s/

[5] https://github.com/Polymarket

[6] https://yzc.me/x01Crypto/decoding-polymarket

[7] uma-ctf-adapter https://polygonscan.com/address/0x6A9D222616C90FcA5754cd1333cFD9b7fb6a4F74

[8] negrisk-uma-ctf-adapter https://polygonscan.com/address/0x2F5e3684cb1F318ec51b00Edba38d79Ac2c0aA9d

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