Glossary¶

Terms used throughout the documentation. See Architecture for how these fit together.

Roles¶

User — buys (and optionally early-sells) prediction contracts via the web UI.
Solver — off-chain agent that quotes prices and signs commitments. Posts on-chain collateral to back payouts.
Orchestrator — centralized backend that brokers quote requests between users and solvers. Holds no funds.
Admin (multisig) — registers/pauses solvers and withdraws protocol fees. Cannot move user or solver funds.
Trustless caller — any blockchain actor who can invoke permissionless functions (record settlement price, settle a position, emergency-cancel). Compensated from an on-chain bounty pool.

Asset — the underlying crypto asset (e.g. BTC). One smart contract per asset.
Range — the price range the position predicts. Closed [a, b], open-below [0, b], or open-above [a, +∞). Bounds are inclusive and quantized to a per-asset tick.
Maturity hour — UTC hour at which the position settles.
Position — ERC-1155 token; users holding the same (range, maturity, solver) share a token id.
Commitment — EIP-712-signed message from a solver pledging to sell (or buy) a position at a specific price. Bound to a specific buyer address and nonce.
Quote — a price quoted by a solver in response to a quote request. The winning quote becomes the commitment that's submitted on-chain.

Buy — user submits a commitment on-chain; premium is escrowed, solver collateral is frozen, position NFT is minted.
Buyback — early close. Original issuer pays the buyback price and gets their collateral released; a different solver instead takes over the long position.
Settle — after the maturity hour, settlement price is recorded on-chain (TWAP) and matured positions are paid out.
Emergency cancel — if no settlement price is recorded within the timeout, holders are refunded the premium tracked against their units.