Prediction Mechanics | UP/DOWN Predictions
Explore Oriole Insights' prediction mechanics for UP/DOWN markets, dispute resolution, and cancellation policies. Learn more about our system here.
What are UP/DOWN prediction mechanics?
Oriole Insights employs a straightforward and user-friendly approach in its UP/DOWN prediction mechanics, eliminating the need for users to enter the exact price of the chosen asset. Participants begin by selecting a specific digital asset from the platform's offerings and indicating their prediction on whether the asset's price will move "UP" or "DOWN." More details here.
How does Oriole Insights handle discrepancies or disputes in prediction outcomes?
For the UP/DOWN prediction market, Oriole Insights uses external API to get the accurate price of crypto assets. To calculate right/wrong predictions, the platform uses the closure of a daily candle - so there might be no issues that can lead to disputes.
For the ROI Prediction Markets, Oriole Insights will implement a validation mechanism to find the accurate and correct winning answer.
Also, Oriole Insights DAO will serve as a place where all community members can open disputes and debate on issues and platform possible changes.
Are there level requirements to open long and short positions simultaneously?
For now, only one prediction for one project in one direction is available at the same time. The platform doesn't allow making predictions in UP and DOWN directions simultaneously for a specific project.
What are the conditions for canceling a prediction?
If we are talking about the UP/DOWN Prediction Market, we allow users to cancel their prediction on a placement day for free until midnight (UTC). Between 00.00 and 00.30 UTC, your vote will be pending, so at this time, you won't be able to interact with a vote. After 00.30 UTC the next day, you can cancel a vote by paying a fee (50%).
To avoid market manipulations and system abuse, we don't allow cancellation of predictions that have a timeframe of 3-6 days.
Why can't short deals be canceled while they are pending?
We are forbidden to cancel predictions within 3-6 days to avoid manipulating the market sentiment score or a specific project's sentiment score by spamming cheap predictions and misleading the community.
Is it possible to claim the daily token reward more than once daily?
No. Daily ORI token claim task is added only for testing purposes. It can be claimed only once per day.
What does the "Pool" button on the asset page mean?
"Pool" on the project's page refers to the sum of all ORI put for predictions for this specific project at the current moment.
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