PlotX v2.5
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Crypto

What are Market Cycles? What are the differences between hourly, daily and weekly markets?

On PlotX, users can predict the value of each cryptocurrency in three different time frames (Market Cycles).
PlotX creates markets in every time frame cyclically. This means that whenever a market of any time frame ends, another market of the same time frame is created.
For example, If an ETH hourly market goes live at 12 PM, then:
  • The market will accept predictions till 1 PM. This is known at the 'Live' stage of the market.
  • At 1 PM, the market will stop accepting predictions. This is known as the 'In Settlement' stage. Please note that this example market isn't settled at 1 PM. It only stops accepting predictions at 1 PM.
  • At 2 PM, the protocol will note down the price of ETH from the Binance ETH/USDT market and decide the winning option This is known as the settlement time.
  • From 2 PM - 2:15 PM, the market goes into the 'Cooling' stage.
  • At 2:15 PM, the market will distribute the rewards to the winners.
Observations from the above example:
  • Live stage - when users can make predictions in the market
    • Rapid markets: 15 minutes
    • Hourly markets: 1 hour
    • Daily markets: 1 day
    • Weekly markets: 1 week
  • In Settlement stage - when the market isn't accepting any predictions
    • Rapid markets: 45 minutes
    • Hourly markets: 1 hour
    • Daily markets: 1 day
    • Weekly markets: 1 week
  • A market is settled at the time mentioned in the market.

What are the various Market Stages?

Live

  • The very first stage for a market after creation is the ‘Live’ stage. This is where you make predictions in the market
  • Duration: 1 Market Cycle (1 hour for Hourly, 1 day for Daily, and 1 week for Weekly markets)

In Settlement

  • After the timer in the ‘Live’ stage runs out, the market enters the ‘In Settlement’ stage
  • This is when the market stops accepting predictions and is waiting for the results to come in
  • Duration: 1 Market Cycle after the Live stage (1 hour for Hourly, 1 day for Daily, and 1 week for Weekly markets)

In Cooling

  • After the timer in the ‘In Settlement’ stage runs out, the market enters the ‘In Cooling’ stage
  • This is when the results have arrived and the winners are decided, but to ensure that everyone is on the same page and there’s no disagreement on the results, the market enters this stage for 1/4th the duration of the Market Cycle
  • Duration: 1/4th the Market Cycle you’re currently in (15 minutes for Hourly, 6 hours for Daily, and 1 day 18 hours for Weekly)
  • During this time, anyone who disagrees with the results can raise a dispute and that’ll push the market into the ‘In Dispute’ stage

Settled

  • The final destination of every market is the ‘Settled’ stage. If any disputes are raised while the market is cooling then the extra step of 'In Dispute' is added between the ‘In Cooling’ stage and the ‘Settled’ stage, otherwise, the market is settled right after the cooling period.
  • The ‘Settled’ stage is when the rewards are distributed to the market winners

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