📈UP or DOWN
Users can engage in UP or DOWN to predict price movements by depositing a specified amount of SOL. Here’s a detailed look at how the prediction mechanism works:
Prediction Mechanism
Round Structure: Predictions are structured into multiple periods like 3-minute rounds, with plans to introduce more periodic rounds in the future.
Entry Rules: Users can only predict the price for the upcoming round, meaning they must make their predictions before the round starts to participate.
Entry Phase: During the entry phase, users choose between two prediction options:
Winning Define: 4CAST calls on-chain Oracles to lock in the price at the start of the prediction period. Once the open price is locked, the prediction begins. At the end of the set period, the Oracle provides the close price. The contract then compares the close price to the open price to determine the winners or not:
Base Price: The prices of crypto assets available for prediction will be displayed in USD on the front page for a more intuitive user experience, but 4CAST uses USDT/USDC as the base tokens to pull the prices for all crypto assets from Oracles.
This straightforward mechanism ensures transparency and fairness, allowing users to confidently participate in the game.
Oracles
In the current phase of 4CAST, we are integrating the Pyth Oracle and Chainlink to provide price feeds. As 4CAST evolves, we plan to incorporate additional oracles, including those from DEXs, which will expand the range of tokens available for prediction.
Pyth
The prices displayed on 4CAST price chart are directly sourced from the Pyth Oracle, which is integral to our Prediction Rounds.
Chainlink
The prices used for round settlement including open price and close price on 4CAST are directly sourced from the Chainlink Oracle, which is integral to our Prediction Rounds.
Oracle Notes:
Settlement and result prices are derived from Chainlink’s price oracle.
Chart prices are intended for reference purposes only.
For the official determination of prediction outcomes, only the prices provided by Chainlink (visible in settlement and history) are used. Consequently, there may be discrepancies between the chart prices and the final settlement prices.
Smart Contract
Within the 4CAST platform, these contracts are actively in use, playing a crucial role in its day-to-day operations.
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