Market Creation

Who Can Create Markets?

Only the BeeNBet core team can create new crypto betting markets. This centralized approach ensures:

• Quality Control: Every market meets high standards
• Clear Resolution: All events can be settled definitively
• Market Integrity: Prevents spam and low-quality markets
• User Trust: Participants know markets are legitimate

Market Creation Process

1. Event Selection

The team identifies events that meet our criteria:

• Verifiable: Can be settled through trusted data sources
• Clear: Unambiguous outcomes with no room for interpretation
• Timely: Events with defined resolution dates
• Interesting: Events that generate trading interest

2. Resolution Planning

Each market requires a clear resolution mechanism:

• Data Source: Identify the oracle or data source
• Resolution Criteria: Define exactly what constitutes a win/loss
• Timeline: Set the resolution date and time
• Backup Plans: Ensure alternative data sources if needed

3. Market Launch

Once prepared, markets are launched with:

• Clear Description: Detailed explanation of the event
• Resolution Rules: How the market will be settled
• Trading Period: When users can place bets
• Cutoff Date: When trading stops and positions lock

Market Categories

Crypto Markets

Examples:

• Price predictions for major cryptocurrencies
• Market cap comparisons between tokens
• Protocol launch timelines
• DeFi adoption metrics

Resolution Sources:

• Chainlink price feeds
• CoinGecko market data
• Official protocol announcements
• On-chain metrics

Sports Markets

Examples:

• Game outcomes and scores
• Tournament winners
• Player performance milestones
• Season-long achievements

Resolution Sources:

• Official league websites
• Sports data APIs
• Broadcast networks
• Official statistics

Global Events

Examples:

• Election outcomes
• Policy implementations
• Economic indicators
• International events

Resolution Sources:

• Government websites
• Official news sources
• Economic data providers
• International organizations

Technology Markets

Examples:

• Product launch dates
• User adoption milestones
• Technical achievements
• Platform integrations

Resolution Sources:

• Company announcements
• Official documentation
• Public APIs
• Third-party verifiers

Market Quality Standards

Clarity Requirements

• Unambiguous Language: No room for interpretation
• Specific Criteria: Exact conditions for resolution
• Clear Timeline: Defined start and end dates
• Verifiable Sources: Reliable data for settlement

Resolution Standards

• Objective Criteria: Based on facts, not opinions
• Public Data: Information available to all participants
• Timely Resolution: Events resolve within reasonable timeframes
• Backup Sources: Alternative data if primary source fails

Market Integrity

• No Manipulation: Events cannot be influenced by participants
• Fair Access: All participants have equal information
• Transparent Rules: All criteria are publicly available
• Consistent Application: Same standards for all markets

Market Lifecycle Management

Pre-Launch

• Research Phase: Gather information about the event
• Resolution Planning: Identify data sources and criteria
• Quality Review: Ensure market meets all standards
• Launch Preparation: Set up technical infrastructure

Active Trading

• Market Monitoring: Watch for unusual activity
• Information Updates: Share relevant news and updates
• User Support: Help participants understand the market
• Price Discovery: Let market forces determine share prices

Resolution

• Event Monitoring: Track the real-world event
• Data Verification: Confirm the outcome through trusted sources
• Automatic Settlement: Execute smart contract payouts
• Post-Resolution: Handle any disputes or issues

Market Examples

Example 1: Crypto Price Prediction

Market: "Will BTC reach $100,000 by 2024-12-31?"
Resolution: Chainlink BTC/USD price feed at 2024-12-31 23:59:59 UTC
Criteria: BTC price ≥ $100,000
Settlement: Automatic via smart contract

Example 2: Sports Event

Market: "Will Team A win the championship?"
Resolution: Official league results
Criteria: Team A wins the final game
Settlement: Automatic via smart contract

Example 3: Global Event

Market: "Will the new policy be implemented?"
Resolution: Official government announcement
Criteria: Policy is officially enacted
Settlement: Automatic via smart contract

Market Monitoring

Real-Time Tracking

• Event Progress: Monitor the real-world event
• Data Sources: Verify information from multiple sources
• Market Activity: Watch for unusual trading patterns
• User Feedback: Address questions and concerns

Resolution Preparation

• Data Verification: Confirm the outcome through trusted sources
• Settlement Readiness: Ensure smart contracts are ready
• Backup Plans: Prepare for edge cases or disputes
• Communication: Keep users informed of resolution status

Future Market Types

Advanced Markets

• Multi-Outcome: Markets with more than two outcomes
• Conditional: Markets that depend on other events
• Time-Series: Markets on continuous variables
• Composite: Markets combining multiple events

Specialized Markets

• Weather: Climate and weather predictions
• Science: Scientific discoveries and breakthroughs
• Entertainment: Awards, releases, and cultural events
• Economics: Economic indicators and trends

Market Creation Guidelines

For the Team

• Research Thoroughly: Understand the event completely
• Plan Resolution: Ensure clear settlement criteria
• Test Data Sources: Verify reliability of information
• Communicate Clearly: Make rules transparent to users

For Users

• Read Carefully: Understand the market before betting
• Research Events: Gather information about the event
• Ask Questions: Contact support if anything is unclear
• Bet Responsibly: Only bet what you can afford to lose

Note: Market creation is a careful process that prioritizes user experience and market integrity. We're always working to improve our market selection and resolution processes.