create pseudo-numeric contracts

common/calculate.ts

@@ -18,15 +18,24 @@ import {
   getDpmProbabilityAfterSale,
 } from './calculate-dpm'
 import { calculateFixedPayout } from './calculate-fixed-payouts'
-import { Contract, BinaryContract, FreeResponseContract } from './contract'
+import {
+  Contract,
+  BinaryContract,
+  FreeResponseContract,
+  PseudoNumericContract,
+} from './contract'
 
-export function getProbability(contract: BinaryContract) {
+export function getProbability(
+  contract: BinaryContract | PseudoNumericContract
+) {
   return contract.mechanism === 'cpmm-1'
     ? getCpmmProbability(contract.pool, contract.p)
     : getDpmProbability(contract.totalShares)
 }
 
-export function getInitialProbability(contract: BinaryContract) {
+export function getInitialProbability(
+  contract: BinaryContract | PseudoNumericContract
+) {
   if (contract.initialProbability) return contract.initialProbability
 
   if (contract.mechanism === 'dpm-2' || (contract as any).totalShares)
@@ -65,7 +74,9 @@ export function calculateShares(
 }
 
 export function calculateSaleAmount(contract: Contract, bet: Bet) {
-  return contract.mechanism === 'cpmm-1' && contract.outcomeType === 'BINARY'
+  return contract.mechanism === 'cpmm-1' &&
+    (contract.outcomeType === 'BINARY' ||
+      contract.outcomeType === 'PSEUDO_NUMERIC')
     ? calculateCpmmSale(contract, Math.abs(bet.shares), bet.outcome).saleValue
     : calculateDpmSaleAmount(contract, bet)
 }
@@ -87,7 +98,9 @@ export function getProbabilityAfterSale(
 }
 
 export function calculatePayout(contract: Contract, bet: Bet, outcome: string) {
-  return contract.mechanism === 'cpmm-1' && contract.outcomeType === 'BINARY'
+  return contract.mechanism === 'cpmm-1' &&
+    (contract.outcomeType === 'BINARY' ||
+      contract.outcomeType === 'PSEUDO_NUMERIC')
     ? calculateFixedPayout(contract, bet, outcome)
     : calculateDpmPayout(contract, bet, outcome)
 }
@@ -96,7 +109,9 @@ export function resolvedPayout(contract: Contract, bet: Bet) {
   const outcome = contract.resolution
   if (!outcome) throw new Error('Contract not resolved')
 
-  return contract.mechanism === 'cpmm-1' && contract.outcomeType === 'BINARY'
+  return contract.mechanism === 'cpmm-1' &&
+    (contract.outcomeType === 'BINARY' ||
+      contract.outcomeType === 'PSEUDO_NUMERIC')
     ? calculateFixedPayout(contract, bet, outcome)
     : calculateDpmPayout(contract, bet, outcome)
 }
@@ -142,9 +157,7 @@ export function getContractBetMetrics(contract: Contract, yourBets: Bet[]) {
   const profit = payout + saleValue + redeemed - totalInvested
   const profitPercent = (profit / totalInvested) * 100
 
-  const hasShares = Object.values(totalShares).some(
+  const hasShares = Object.values(totalShares).some((shares) => shares > 0)
-    (shares) => shares > 0
-  )
 
   return {
     invested: Math.max(0, currentInvested),

common/contract.ts

@@ -2,9 +2,10 @@ import { Answer } from './answer'
 import { Fees } from './fees'
 
 export type AnyMechanism = DPM | CPMM
-export type AnyOutcomeType = Binary | FreeResponse | Numeric
+export type AnyOutcomeType = Binary | PseudoNumeric | FreeResponse | Numeric
 export type AnyContractType =
   | (CPMM & Binary)
+  | (CPMM & PseudoNumeric)
   | (DPM & Binary)
   | (DPM & FreeResponse)
   | (DPM & Numeric)
@@ -33,7 +34,7 @@ export type Contract<T extends AnyContractType = AnyContractType> = {
   isResolved: boolean
   resolutionTime?: number // When the contract creator resolved the market
   resolution?: string
-  resolutionProbability?: number,
+  resolutionProbability?: number
 
   closeEmailsSent?: number
 
@@ -45,6 +46,7 @@ export type Contract<T extends AnyContractType = AnyContractType> = {
 } & T
 
 export type BinaryContract = Contract & Binary 
+export type PseudoNumericContract = Contract & PseudoNumeric 
 export type NumericContract = Contract & Numeric
 export type FreeResponseContract = Contract & FreeResponse
 export type DPMContract = Contract & DPM
@@ -75,6 +77,17 @@ export type Binary = {
   resolution?: resolution
 }
 
+export type PseudoNumeric = {
+  outcomeType: 'PSEUDO_NUMERIC'
+  min: number
+  max: number
+  isLogScale: boolean
+
+  // same as binary market; map to everything to probability
+  initialProbability: number
+  resolutionProbability?: number
+}
+
 export type FreeResponse = {
   outcomeType: 'FREE_RESPONSE'
   answers: Answer[] // Used for outcomeType 'FREE_RESPONSE'.
@@ -94,7 +107,7 @@ export type Numeric = {
 export type outcomeType = AnyOutcomeType['outcomeType']
 export type resolution = 'YES' | 'NO' | 'MKT' | 'CANCEL'
 export const RESOLUTIONS = ['YES', 'NO', 'MKT', 'CANCEL'] as const
-export const OUTCOME_TYPES = ['BINARY', 'FREE_RESPONSE', 'NUMERIC'] as const
+export const OUTCOME_TYPES = ['BINARY', 'FREE_RESPONSE', 'PSEUDO_NUMERIC', 'NUMERIC'] as const
 
 export const MAX_QUESTION_LENGTH = 480
 export const MAX_DESCRIPTION_LENGTH = 10000

common/new-contract.ts

@@ -7,6 +7,7 @@ import {
   FreeResponse,
   Numeric,
   outcomeType,
+  PseudoNumeric,
 } from './contract'
 import { User } from './user'
 import { parseTags } from './util/parse'
@@ -37,6 +38,8 @@ export function getNewContract(
   const propsByOutcomeType =
     outcomeType === 'BINARY'
       ? getBinaryCpmmProps(initialProb, ante) // getBinaryDpmProps(initialProb, ante)
+      : outcomeType === 'PSEUDO_NUMERIC'
+      ? getPseudoNumericCpmmProps(initialProb, ante, min, max, false)
       : outcomeType === 'NUMERIC'
       ? getNumericProps(ante, bucketCount, min, max)
       : getFreeAnswerProps(ante)
@@ -111,6 +114,24 @@ const getBinaryCpmmProps = (initialProb: number, ante: number) => {
   return system
 }
 
+const getPseudoNumericCpmmProps = (
+  initialProb: number,
+  ante: number,
+  min: number,
+  max: number,
+  isLogScale: boolean
+) => {
+  const system: CPMM & PseudoNumeric = {
+    ...getBinaryCpmmProps(initialProb, ante),
+    outcomeType: 'PSEUDO_NUMERIC',
+    min,
+    max,
+    isLogScale,
+  }
+
+  return system
+}
+
 const getFreeAnswerProps = (ante: number) => {
   const system: DPM & FreeResponse = {
     mechanism: 'dpm-2',

common/payouts.ts

@@ -1,7 +1,12 @@
 import { sumBy, groupBy, mapValues } from 'lodash'
 
 import { Bet, NumericBet } from './bet'
-import { Contract, CPMMBinaryContract, DPMContract } from './contract'
+import {
+  Contract,
+  CPMMBinaryContract,
+  DPMContract,
+  PseudoNumericContract,
+} from './contract'
 import { Fees } from './fees'
 import { LiquidityProvision } from './liquidity-provision'
 import {
@@ -56,7 +61,11 @@ export const getPayouts = (
   liquidities: LiquidityProvision[],
   resolutionProbability?: number
 ): PayoutInfo => {
-  if (contract.mechanism === 'cpmm-1' && contract.outcomeType === 'BINARY') {
+  if (
+    contract.mechanism === 'cpmm-1' &&
+    (contract.outcomeType === 'BINARY' ||
+      contract.outcomeType === 'PSEUDO_NUMERIC')
+  ) {
     return getFixedPayouts(
       outcome,
       contract,
@@ -76,7 +85,7 @@ export const getPayouts = (
 
 export const getFixedPayouts = (
   outcome: string | undefined,
-  contract: CPMMBinaryContract,
+  contract: CPMMBinaryContract | PseudoNumericContract,
   bets: Bet[],
   liquidities: LiquidityProvision[],
   resolutionProbability?: number

functions/src/create-contract.ts

@@ -48,6 +48,7 @@ const binarySchema = z.object({
 const numericSchema = z.object({
   min: z.number(),
   max: z.number(),
+  initialValue: z.number(),
 })
 
 export const createmarket = newEndpoint(['POST'], async (req, auth) => {
@@ -55,9 +56,14 @@ export const createmarket = newEndpoint(['POST'], async (req, auth) => {
     validate(bodySchema, req.body)
 
   let min, max, initialProb
-  if (outcomeType === 'NUMERIC') {
+
-    ;({ min, max } = validate(numericSchema, req.body))
+  if (outcomeType === 'PSEUDO_NUMERIC' || outcomeType === 'NUMERIC') {
-    if (max - min <= 0.01) throw new APIError(400, 'Invalid range.')
+    let initialValue
+    ;({ min, max, initialValue } = validate(numericSchema, req.body))
+    if (max - min <= 0.01 || initialValue < min || initialValue > max)
+      throw new APIError(400, 'Invalid range.')
+
+    initialProb = (initialValue - min) / (max - min) * 100
   }
   if (outcomeType === 'BINARY') {
     ;({ initialProb } = validate(binarySchema, req.body))
@@ -130,7 +136,7 @@ export const createmarket = newEndpoint(['POST'], async (req, auth) => {
 
   const providerId = user.id
 
-  if (outcomeType === 'BINARY') {
+  if (outcomeType === 'BINARY' || outcomeType === 'PSEUDO_NUMERIC') {
     const liquidityDoc = firestore
       .collection(`contracts/${contract.id}/liquidity`)
       .doc()

functions/src/emails.ts

@@ -88,7 +88,10 @@ const toDisplayResolution = (
   resolutionProbability?: number,
   resolutions?: { [outcome: string]: number }
 ) => {
-  if (contract.outcomeType === 'BINARY') {
+  if (
+    contract.outcomeType === 'BINARY' ||
+    contract.outcomeType === 'PSEUDO_NUMERIC'
+  ) {
     const prob = resolutionProbability ?? getProbability(contract)
 
     const display = {

web/pages/[username]/[contractSlug].tsx

@@ -142,7 +142,7 @@ export function ContractPageContent(
   const { creatorId, isResolved, question, outcomeType } = contract
 
   const isCreator = user?.id === creatorId
-  const isBinary = outcomeType === 'BINARY'
+  const isBinary = outcomeType === 'BINARY' || outcomeType === 'PSEUDO_NUMERIC'
   const isNumeric = outcomeType === 'NUMERIC'
   const allowTrade = tradingAllowed(contract)
   const allowResolve = !isResolved && isCreator && !!user

web/pages/create.tsx

@@ -78,6 +78,7 @@ export function NewContract(props: { question: string; groupId?: string }) {
   const [initialProb] = useState(50)
   const [minString, setMinString] = useState('')
   const [maxString, setMaxString] = useState('')
+  const [initialValueString, setInitialValueString] = useState('')
   const [description, setDescription] = useState('')
   // const [tagText, setTagText] = useState<string>(tag ?? '')
   // const tags = parseWordsAsTags(tagText)
@@ -120,6 +121,9 @@ export function NewContract(props: { question: string; groupId?: string }) {
 
   const min = minString ? parseFloat(minString) : undefined
   const max = maxString ? parseFloat(maxString) : undefined
+  const initialValue = initialValueString
+    ? parseFloat(initialValueString)
+    : undefined
   // get days from today until the end of this year:
   const daysLeftInTheYear = dayjs().endOf('year').diff(dayjs(), 'day')
 
@@ -136,13 +140,16 @@ export function NewContract(props: { question: string; groupId?: string }) {
     // closeTime must be in the future
     closeTime &&
     closeTime > Date.now() &&
-    (outcomeType !== 'NUMERIC' ||
+    (outcomeType !== 'PSEUDO_NUMERIC' ||
       (min !== undefined &&
         max !== undefined &&
+        initialValue !== undefined &&
         isFinite(min) &&
         isFinite(max) &&
         min < max &&
-        max - min > 0.01))
+        max - min > 0.01 &&
+        min <= initialValue &&
+        initialValue <= max))
 
   function setCloseDateInDays(days: number) {
     const newCloseDate = dayjs().add(days, 'day').format('YYYY-MM-DD')
@@ -166,6 +173,7 @@ export function NewContract(props: { question: string; groupId?: string }) {
           closeTime,
           min,
           max,
+          initialValue,
           groupId: selectedGroup?.id,
           tags: category ? [category] : undefined,
         })
@@ -213,6 +221,7 @@ export function NewContract(props: { question: string; groupId?: string }) {
         choicesMap={{
           'Yes / No': 'BINARY',
           'Free response': 'FREE_RESPONSE',
+          Numeric: 'PSEUDO_NUMERIC',
         }}
         isSubmitting={isSubmitting}
         className={'col-span-4'}
@@ -225,8 +234,9 @@ export function NewContract(props: { question: string; groupId?: string }) {
 
       <Spacer h={6} />
 
-      {outcomeType === 'NUMERIC' && (
+      {outcomeType === 'PSEUDO_NUMERIC' && (
-        <div className="form-control items-start">
+        <>
+          <div className="form-control mb-2 items-start">
             <label className="label gap-2">
               <span className="mb-1">Range</span>
               <InfoTooltip text="The minimum and maximum numbers across the numeric range." />
@@ -257,6 +267,26 @@ export function NewContract(props: { question: string; groupId?: string }) {
               />
             </Row>
           </div>
+          <div className="form-control mb-2 items-start">
+            <label className="label gap-2">
+              <span className="mb-1">Initial value</span>
+              <InfoTooltip text="The starting value for this market. Should be in between min and max values." />
+            </label>
+
+            <Row className="gap-2">
+              <input
+                type="number"
+                className="input input-bordered"
+                placeholder="Initial value"
+                onClick={(e) => e.stopPropagation()}
+                onChange={(e) => setInitialValueString(e.target.value)}
+                maxLength={6}
+                disabled={isSubmitting}
+                value={initialValueString ?? ''}
+              />
+            </Row>
+          </div>
+        </>
       )}
 
       <div className="form-control max-w-[265px] items-start">