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



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



Settlement Style


Exercise Style

European, auto-exercised

Premium Currency


Settlement Currency


Strike Currency

USDC Depending on user’s portfolio subject to collateral optimization settlement currency could be different.

Strike Currency


Collateral Currency


Collateral Amount

Inside bet: USDC premium

Outside bet ( upper strike - lower strike ) in USDC

Collateral Management

Fully collateralized, pre-funded



Strike Price

Fixed standardized published levels

Reference Price

ITHACA Reference Fixing

Expiry Time

1st focal auction on relevant expiry Friday

Last updated