Versus: Decentralized Price Prediction Markets

Versus.crypto is a price prediction market built around Chainlink’s price feeds, that allows users to place Long/Short calls for a token’s price. With each market operating on a 2 hour expiration window, users will be able to place multiple calls within each market.

Versus acts as a niche prediction market by strictly limiting prediction options to tokens that are supported within Link’s price feed. Individual users cannot add new markets to the contract on their own.

Versus Price Prediction Markets

Versus operates by splitting each supported token into individual market pairs(LINK/USD, LINK/ETH), setting a target price, and allowing users to take either side of a prediction(Long/Short). Because the markets within the Versus smart contract cannot update themselves due to solidity limitations, any user will be able to call a public ‘expire’ function for a particular market. This expiration function will only be able to be called if the market’s current expiration block exceeds the current block.

The user that manages to call the expiration function will be rewarded with Versus tokens. When this function is successfully called, the current price of the Market’s token will be set as both the closing price for the current betting period and the target price for the next betting period.

When a closing price for a market is set, users on either side(Long/Short) will have to expire their own calls. When this occurs, the user will either gain ETH from making the proper call or lose ETH from making the wrong call.

  1. A market for LINK/USD starts at a target price of $12.
  2. A user(you) ‘Longs’ LINK by putting up an amount of ETH in the Long section.
  3. The market runs for a 2 hour period.
  4. When the 2 hour period ends, any user calls the market expiration function.
  5. The betting user(you) calls a function to close their bet.
  6. If you bet on Link going up, and it does, you receive your ETH back and a percentage of ETH from the losing side( In this example, the shorters).
  7. The Versus smart contract mints a set amount of tokens and sends it to you as a reward for participation. Winners and losers are rewarded with Versus tokens.
  8. ETH fees are sent to Versus holders and Nyan LPers/holders

Versus will only support tokens whose prices are tracked by Chainlink’s pricefeeds(see here). This means that as Link’s feeds begin to add more tokens, those tokens can then be added to Versus as new markets. By relying on a trusted oracle like Link, it allows Versus to focus on its core competency: Price prediction management.

Token Name: The final full name will be released on Versus’ launch date
Ticker: Versus
Token type: ERC20
Total Initial Tokens: 10,000
Dev tokens: 200. This number is low due to a percentage of platform fees being sent to a dev fund to support extended development.

Versus will have no presale, no early offerings and attempt to make distribution fair by blocking token movements that contain over 5% of the token’s supply. This should ensure that the supply goes to more regular holders, rather than whales.

Nyan-2 holders will be able to claim 0.1 Versus for each Nyan-2 token they hold. This means that Nyan-2 holders can mint a maximum of 3,300 Versus tokens. Additionally, Nyan-2 LP stakers will be able to mint 1 Versus token for each Nyan-2 LP they have staked. This means that Nyan-2 LP stakers can mint a maximum of 1,500 new Versus tokens.

Versus holders, Nyan-2 LP stakers, and Nyan-2 holders will be receiving ETH weekly from the fees generated by users using the Versus contract. 60% of all fees generated by the platform is set aside as rewards for certain token holders. To be particular, 50%(of the 60%) will be going towards Versus token holders, 30% to Nyan-2 LP stakers and 10% to regular Nyan-2 holders.

The remainder of the fee profits will be split between a dev fund, a bug bounty program and market buys of dNyan-2 indefinitely(acquired dNyan-2 will be burned).

Versus is planned to launch on Uniswap on January 10th at 5PM UTC.

Nyan.finance is a Decentralized hedge fund focused on introducing beginners to Defi.