Bet

Bet Overview

Place a bet on whether an asset price ends up inside or outside a defined range at expiry date.

Placing Bet Orders

• In the Stories tab, select Bet

• Enter your order parameters

  • Type: Select "Inside Range" or "Outside Range" bet

  • Bet/Capital at Risk: The amount of premium paid to enter the trade.

  • Range: Select Range

  • Target Earn: The limit price at the auction, it reflects how much one wants to earn for spending the premium if price at expiry ends up inside/outside the range. This amount is translated as expected APR.

• Verity Order Summary

  • Order limit: Order price

  • Collateral requirement: The amount required to be locked so as to ensure that the order enters the auction.

  • Platform fee: Fee to be paid in case of execution.

  • Total premium: The total to be paid net of fees.

• "Submit to Auction" and approve your transaction in your wallet

Bet Contract

Item	Description
Products	Inside Bet Outside Bet
Payout Formula	Inside Bet Payoff: Upper strike - lower strike if lower strike lower < reference price < upper Strike , 0 otherwise Outside Bet - (Upper strike - lower strike) if lower strike lower < reference price < upper Strike , 0 otherwise Order entry: risk bet amount to earn payoff
Underlying	WETH/USDC
Settlement Style	Cash
Exercise Style	European, auto-exercised
Premium Currency	USDC
Settlement Currency	USDC
Strike Currency	USDC Depending on user’s portfolio subject to collateral optimization settlement currency could be different.
Strike Currency	USDC
Collateral Currency	USDC
Collateral Amount	Inside bet: USDC premium Outside bet ( upper strike - lower strike ) in USDC
Collateral Management	Fully collateralized, pre-funded
Multiplier	1
Strike Price	Fixed standardized published levels
Reference Price	ITHACA Reference Fixing
Expiry Time	1st focal auction on relevant expiry Friday