🙋‍♀️FAQs

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 quesion.

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

In Dispute (coming soon)

• If someone raises a dispute during the ‘In Cooling’ stage, the market enters the ‘In Dispute’ stage

• When the market is in this stage, the Dispute Resolution Governance Mechanism kicks in; the Dispute is reviewed and after following the due procedure of reviewing and voting, the dispute is resolved

• Duration: 3 days are given to each dispute to be either accepted or rejected

• More on dispute resolution and governance later

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

Do users who predict towards the end of the participation time have an edge over users who predict early?

No.

1. The option price for buying prediction positions becomes more expensive towards the end of the participation time. So, the user who participates towards the end of the participation time will get a lesser number of positions in comparison to a user who participates early. Lessed positions mean lesser rewards.

2. To make sure that participants are truly predicting and not just entering the market at the last possible moment to gain an edge after the participation time is over, the market goes into the In Settlement stage where no one can enter the market. The duration of the In Settlement stage is equal to the participation time and only after it's over, does the protocol note down the price of the market asset and decide the winning option.

What is bPLOT and how do I use it to place predictions?

bPLOT (bonus-PLOT) is a wrapped $PLOT token that is non-tradeable and can only be used to participate in PlotX prediction markets. The value of bPLOT is equal to that of $PLOT at all times and by using bPLOT to make correct predictions, one can convert their bPLOT (which are non-tradeable) into $PLOT (which are tradeable).

A few things that you need to keep in mind while making predictions with bPLOT are:

• You can only make one prediction per unique market using bPLOT. For example, if you've already placed a prediction using bPLOT in an Hourly ETH-USD market which is asking for the price of ETH-USD at 2 PM, 25th April 2021, then, you cannot make another prediction using bPLOT in the same market. You can, however, make another prediction in the same market using PLOT.

• Each bPLOT prediction involves a conversion of bPLOT to an equal amount of $PLOT. This ensures that the reward pool only comprises PLOT. This also means that if you place a prediction using bPLOT, and your prediction turns out to be correct, then you'll receive back your participation amount (minus the platform transaction fees) in the form of $PLOT and not bPLOT.

Note - Since bPLOTs can only be used to make predictions in PlotX prediction markets and cannot be traded/transferred between wallets, one must make sure to receive their bPLOT in a wallet that can be directly connected to PlotX to make predictions.

If you receive your bPLOT in a wallet that isn't compatible with PlotX, then your bPLOT will be rendered useless as you won't be able to connect your wallet with PlotX.

If you have bPLOT in your wallet, the protocol will automatically detect that and use them first when you're making a prediction.

How does liquidity provision works in PlotX markets?

To bootstrap liquidity in PlotX prediction markets, the market creators are required to add initial liquidity, similar to how projects add liquidity to their Uniswap pairs.

Here’s a primer on how liquidity provision in PlotX works:

• PlotX prediction markets follow the zero-sum game approach

• Each market has three options available and the winning option gets the combined amount put at stake in the other two options

• When a market is configured on PlotX, the market creator has to provide bootstrapping liquidity across all 3 options of the market

• In return, the market creator gets back ⅓ of their initial liquidity and three types of incentives:

  • Prediction Fees - A portion of the prediction fees from all the predictions placed in the market

  • Reward Pool Share - 5% of the total reward pool

  • Reward From Winning Prediction - Market creator makes a prediction in each option, so one of their predictions is bound to win; hence, they also get a reward from the winning prediction based on the market state

Let’s take a look at a hypothetical market to understand the market creators’ incentives better:

Options	Market creator’s liquidity	Total liquidity in the option	Potential reward pool
Earth	$4,000	$50,000	$100,000
Moon	$4,000	$50,000	$100,000
Mars	$4,000	$50,000	$100,000

In the above hypothetical market, the total liquidity in the market is $150,000 and the liquidity provided by the market creator is $12,000.

The market creator’s incentives in the above scenario will be:

Initial Liquidity Return	Prediction Fees	Reward Pool Share	Reward from the winning prediction	Total
⅓ of the initial liquidity	0.8% of the total liquidity	5% of the reward pool	This depends on which option ends up winning	-
$4,000	$1,200	$5,000	$8,000	$18,200

⇒ The market creator got a ~51.66% return on their initial investment (the initial liquidity they provided)

The above example is of a hypothetical market. Real markets may not play out in the same manner as above. Market creators’ rewards depend on many different factors like the total liquidity, liquidity spread between the three options etc.

As more and more markets are created on PlotX, we will get more real-world data from the app. This data will be used to adjust the market creator’s incentives to keep them in a profitable position.

What fees are charged to predict on PlotX and what is it used for?

PlotX v2 mainnet is running on Polygon, and because of how cheap it is to transact on Polygon, PlotX v2 doesn't charge any gas fees from users for any transaction they do on the platform.

However, no matter how small the fees might be, they still need to be paid. So, PlotX v2 charges a 2% prediction fee on all predictions to cover the platform upkeep costs. This includes costs like the relayer's cost of covering all meta transactions on the platform, the market creator's incentives for providing the initial liquidity to every market etc.

The 2% prediction fee is thus, further divided into the following subcategories:

1. DAO Share: 10% of the 2% prediction fee | 0.2% of all predictions

2. Market Creator Share: 40% of the 2% prediction fee | 0.8% of all predictions

3. Relayer Share: 50% of the 2% prediction fee | 1% of all predictions

Which currencies can I use to make a prediction?

You can make a prediction using any of the following cryptocurrencies:

• $PLOT

• $USDC

• $USDT

• $DAI

• $MATIC

• $WETH

You should have at least one of the above cryptocurrencies in your wallet on Polygon in order to make predictions on PlotX.

Please note that whenever you use a non-PLOT coin to make a prediction, the protocol swaps that coin for an equivalent amount of $PLOT from QuickSwap in the background, and then makes a prediction using $PLOT.

Hence, if you make a correct prediction with any non-PLOT coin, you receive back your prediction amount in $PLOT (according to the market rate on QuickSwap at the time of prediction) along with a reward in $PLOT.

I'm not able to withdraw funds to Polygon, why?

Withdrawal to Polygon is only enabled for email linked wallets.

The option is disabled for other wallet types for the following reason:

PlotX is running on Polygon. This means that if you are seeing a non-zero amount in your wallet in the PlotX UI, then the app is showing you that amount because those funds are on Polygon already. Additionally, any rewards you win on the app also come to your wallet on Polygon.

In the above screenshot, the balance shown in the places marked by the green arrow and the green rectangle is in your wallet on Polygon already. To see this balance in your wallet, you just need to connect your wallet to the Polygon Network and add PLOT as an asset.

After adding PLOT as an asset on the Polygon Network in your wallet, you can swap it on QuickSwap, send it to a centralized exchange like AscendEX or migrate it to Ethereum using PlotX or the Matic Bridge, it's completely up to you.

What is the Trial Bonus & how do I use it?

The Trial Bonus enables new users to get started on PlotX by making their first 3 predictions absolutely free! This means that you don't need to have any funds on Polygon to get started on PlotX.

The Trial Bonus works like this:

1. Once you claim the Trial Bonus, you'll instantly get 20 bPLOT credited to your name. You can use these bPLOT to make your first free prediction

2. Depending on the result of your first prediction, you can claim up to 40 bPLOT more to make your second and third free prediction:

   • If your first prediction is incorrect, you will get 20 bPLOT more to make your next free prediction

   • If your first prediction is correct, you will get back the amount of your first prediction (20 PLOT) and a reward from the market. You can use this amount to make your second free prediction. In this case, you won't get 20 bPLOT more for your second prediction

3. The same will continue till the time you've made your first 3 predictions

Am I eligible?

If you've made at least one transaction on Ethereum or Polygon or Binance Smart Chain till 31st December 2021, you are eligible to claim the Trial Bonus.

Additional information about the Trial Bonus

1. Using the Trial Bonus, you can claim a minimum of 20 bPLOT and a maximum of 60 bPLOT to make your first 3 predictions for free

2. You need to wait for your first prediction to settle before making your second prediction

3. You need to wait for your second prediction to settle before making your third prediction

Pending Claim unlock criteria of the Trial Bonus

• The Trial Bonus is meant for new users to try out the application. It is not an airdrop or a free signup bonus that you can withdraw to your wallet

• The protocol deducts the amount given as a part of the Trial Bonus when you make your first claim

• After making predictions using the Trial Bonus, you can claim your predictions' rewards from the My Predictions page

• To make this claim, you need to:

  • Make your first 3 predictions

  • Have at least 50 PLOT in the Pending Claim

• When you claim your predictions' rewards, 50 PLOT are deducted from the claim amount

If the following conditions are true:

1. The user has claimed the Trial Bonus

2. The user is inactive on PlotX for 15 or more days

3. The user hasn't made their first Pending Reward claim

Then, the protocol deducts 50 PLOT or the amount given to the user under the Trial Bonus scheme, whichever is lesser, from the user's Pending Claim amount after 15 days of inactivity.

How to add Magic Link wallet to MetaMask?

You can gain access to your Magic Link wallet through another wallet provider's UI (like MetaMask) as well. To do this, follow the below steps:

1. Open this link - https://reveal.magic.link/plotx

2. Enter the email you use to log in to PlotX and hit Login with Email

3. Go to your email and approve the login request

4. After approving the login request, go back to the previous tab

5. Check all the boxes and hit the Reveal Private Key button

6. Once you have your Magic Link wallet's private key, copy it and log out

7. Open MetaMask and click on the My Accounts icon (to the right of the Networks dropdown)

8. Click on Import Account

9. Paste the private key you copied and hit Import

All done! Your Magic Link wallet can now be accessed through MetaMask.

This means that you can now connect your Magic Link wallet to PlotX via email login AND via MetaMask.

What benefits does it have?

• You can now deposit MATIC in your wallet and sign staking and unstaking transactions on PlotX