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What are the variables involved in the creation of a P2P Lot?

Creating a P2P lot on Relative is extremely simple.
Multi User Mode
A multi user lot is created with the following parameters:
  • Asset A (backing asset)
  • Asset B (opposing asset)
  • Start Time - lot creator defines start time for the wager
  • Duration - the time period a lot is active for
  • Deposit - in a multi-user lot, the lot creator only decides their own deposit size (pools for both assets are balanced prior to the lot going live and depositors are proportionally refunded any excess.
Challenge Mode
1 v 1 challenge lots (head to head) are created with the following parameters:
  • Asset A
  • Asset B/C/D, etc. (optional) - creator can either decide the opposing asset, leave it blank, or select a basket of assets that they are open to wagering against.
  • Private / Public - if the lot creator wishes to wager in a private Lot, then an invite link can be shared with the challenger.
  • Start Time - user defined starting time for the bet
  • Duration - the time period a lot is active for
  • Deposit size - unlike multi-user lots, deposit size for BOTH assets is decided by the lot creator in challenge mode
  • Offer Expiry Time - duration where a contract expires if no other user places a wager

Start time

  • If either pool is empty, the market is expired. Users can withdraw their entire collateral.
  • Otherwise, pools are balanced to equal size. Users with positions in the excess pool can withdraw a refund amount in proportion to their deposit size. refund(user) = position_size(user) / pool_size * (pool_a_size - pool_b_size)
  • Now, the market is live.

End time (start time + duration)

  • The market is resolved and returns are claimable by winning users.
  • All users can withdraw returns. Users with positions in the winning pool will get 2x the amount they deposited (after refunds and deduction of platform fees), this amount will come from users with positions in the losing pool.