calculate fixed payouts; bets list calculations

common/calculate-cpmm.ts

@@ -1,7 +1,6 @@
 import * as _ from 'lodash'
 import { Bet } from './bet'
 import { Binary, CPMM, FullContract } from './contract'
-import { FEES } from './fees'
 
 export function getCpmmProbability(pool: { [outcome: string]: number }) {
   // For binary contracts only.
@@ -95,48 +94,3 @@ export function getCpmmProbabilityAfterSale(
   const { newPool } = calculateCpmmSale(contract, bet)
   return getCpmmProbability(newPool)
 }
-
-export function calculateFixedPayout(
-  contract: FullContract<CPMM, Binary>,
-  bet: Bet,
-  outcome: string
-) {
-  if (outcome === 'CANCEL') return calculateFixedCancelPayout(bet)
-  if (outcome === 'MKT') return calculateFixedMktPayout(contract, bet)
-
-  return calculateStandardFixedPayout(bet, outcome)
-}
-
-export function calculateFixedCancelPayout(bet: Bet) {
-  return bet.amount
-}
-
-export function calculateStandardFixedPayout(bet: Bet, outcome: string) {
-  const { amount, outcome: betOutcome, shares } = bet
-  if (betOutcome !== outcome) return 0
-  return deductCpmmFees(amount, shares - amount)
-}
-
-function calculateFixedMktPayout(
-  contract: FullContract<CPMM, Binary>,
-  bet: Bet
-) {
-  const { resolutionProbability, pool } = contract
-  const p =
-    resolutionProbability !== undefined
-      ? resolutionProbability
-      : getCpmmProbability(pool)
-
-  const { outcome, amount, shares } = bet
-
-  const betP = outcome === 'YES' ? p : 1 - p
-  const winnings = betP * shares
-
-  return deductCpmmFees(amount, winnings)
-}
-
-export const deductCpmmFees = (betAmount: number, winnings: number) => {
-  return winnings > betAmount
-    ? betAmount + (1 - FEES) * (winnings - betAmount)
-    : winnings
-}

common/calculate-fixed-payouts.ts

@@ -0,0 +1,49 @@
+import { Bet } from './bet'
+import { getProbability } from './calculate'
+import { Binary, FixedPayouts, FullContract } from './contract'
+import { FEES } from './fees'
+
+export function calculateFixedPayout(
+  contract: FullContract<FixedPayouts, Binary>,
+  bet: Bet,
+  outcome: string
+) {
+  if (outcome === 'CANCEL') return calculateFixedCancelPayout(bet)
+  if (outcome === 'MKT') return calculateFixedMktPayout(contract, bet)
+
+  return calculateStandardFixedPayout(bet, outcome)
+}
+
+export function calculateFixedCancelPayout(bet: Bet) {
+  return bet.amount
+}
+
+export function calculateStandardFixedPayout(bet: Bet, outcome: string) {
+  const { amount, outcome: betOutcome, shares } = bet
+  if (betOutcome !== outcome) return 0
+  return deductFixedFees(amount, shares - amount)
+}
+
+function calculateFixedMktPayout(
+  contract: FullContract<FixedPayouts, Binary>,
+  bet: Bet
+) {
+  const { resolutionProbability } = contract
+  const p =
+    resolutionProbability !== undefined
+      ? resolutionProbability
+      : getProbability(contract)
+
+  const { outcome, amount, shares } = bet
+
+  const betP = outcome === 'YES' ? p : 1 - p
+  const winnings = betP * shares
+
+  return deductFixedFees(amount, winnings)
+}
+
+export const deductFixedFees = (betAmount: number, winnings: number) => {
+  return winnings > betAmount
+    ? betAmount + (1 - FEES) * (winnings - betAmount)
+    : winnings
+}

common/calculate.ts

@@ -1,20 +1,26 @@
 import { Bet } from './bet'
 import {
   calculateCpmmShares,
+  calculateCpmmShareValue,
   getCpmmProbability,
   getCpmmProbabilityAfterBet,
   getCpmmProbabilityAfterSale,
 } from './calculate-cpmm'
 import {
+  calculateDpmPayout,
   calculateDpmPayoutAfterCorrectBet,
+  calculateDpmSaleAmount,
   calculateDpmShares,
   getDpmOutcomeProbability,
   getDpmProbability,
   getDpmProbabilityAfterBet,
   getDpmProbabilityAfterSale,
 } from './calculate-dpm'
+import {
+  calculateFixedPayout,
+  deductFixedFees,
+} from './calculate-fixed-payouts'
 import { Binary, Contract, CPMM, DPM, FullContract } from './contract'
-import { FEES } from './fees'
 
 export function getProbability(contract: FullContract<DPM | CPMM, Binary>) {
   return contract.mechanism === 'cpmm-1'
@@ -60,9 +66,18 @@ export function calculateShares(
     : calculateDpmShares(contract.totalShares, bet, betChoice)
 }
 
+export function calculateSaleAmount(contract: Contract, bet: Bet) {
+  return contract.mechanism === 'cpmm-1' && contract.outcomeType === 'BINARY'
+    ? deductFixedFees(
+        bet.amount,
+        calculateCpmmShareValue(contract, bet.shares, bet.outcome)
+      )
+    : calculateDpmSaleAmount(contract, bet)
+}
+
 export function calculatePayoutAfterCorrectBet(contract: Contract, bet: Bet) {
   return contract.mechanism === 'cpmm-1'
-    ? deductFees(bet.amount, bet.shares)
+    ? deductFixedFees(bet.amount, bet.shares)
     : calculateDpmPayoutAfterCorrectBet(contract, bet)
 }
 
@@ -79,8 +94,17 @@ export function getProbabilityAfterSale(
     : getDpmProbabilityAfterSale(contract.totalShares, outcome, shares)
 }
 
-export const deductFees = (betAmount: number, winnings: number) => {
+export function calculatePayout(contract: Contract, bet: Bet, outcome: string) {
-  return winnings > betAmount
+  return contract.mechanism === 'cpmm-1' && contract.outcomeType === 'BINARY'
-    ? betAmount + (1 - FEES) * (winnings - betAmount)
+    ? calculateFixedPayout(contract, bet, outcome)
-    : winnings
+    : calculateDpmPayout(contract, bet, outcome)
+}
+
+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'
+    ? calculateFixedPayout(contract, bet, outcome)
+    : calculateDpmPayout(contract, bet, outcome)
 }

common/contract.ts

@@ -52,6 +52,8 @@ export type CPMM = {
   liquidity: { [userId: string]: { [outcome: string]: number } } // track liquidity providers
 }
 
+export type FixedPayouts = CPMM
+
 export type Binary = {
   outcomeType: 'BINARY'
   resolutionProbability?: number // Used for BINARY markets resolved to MKT

web/components/bets-list.tsx

@@ -22,11 +22,6 @@ import {
 } from '../lib/firebase/contracts'
 import { Row } from './layout/row'
 import { UserLink } from './user-page'
-import {
-  calculateDpmPayout,
-  calculateDpmSaleAmount,
-  resolvedDpmPayout,
-} from '../../common/calculate-dpm'
 import { sellBet } from '../lib/firebase/api-call'
 import { ConfirmationButton } from './confirmation-button'
 import { OutcomeLabel, YesLabel, NoLabel } from './outcome-label'
@@ -34,9 +29,12 @@ import { filterDefined } from '../../common/util/array'
 import { LoadingIndicator } from './loading-indicator'
 import { SiteLink } from './site-link'
 import {
+  calculatePayout,
+  calculateSaleAmount,
   getOutcomeProbability,
   getProbability,
   getProbabilityAfterSale,
+  resolvedPayout,
 } from '../../common/calculate'
 
 type BetSort = 'newest' | 'profit' | 'settled' | 'value'
@@ -84,7 +82,7 @@ export function BetsList(props: { user: User }) {
         if (bet.isSold || bet.sale) return 0
 
         const contract = contracts.find((c) => c.id === contractId)
-        const payout = contract ? calculateDpmPayout(contract, bet, 'MKT') : 0
+        const payout = contract ? calculatePayout(contract, bet, 'MKT') : 0
         return payout - (bet.loanAmount ?? 0)
       })
     }
@@ -290,21 +288,21 @@ export function MyBetsSummary(props: {
   const betsTotal = _.sumBy(excludeSales, (bet) => bet.amount)
 
   const betsPayout = resolution
-    ? _.sumBy(excludeSales, (bet) => resolvedDpmPayout(contract, bet))
+    ? _.sumBy(excludeSales, (bet) => resolvedPayout(contract, bet))
     : 0
 
   const yesWinnings = _.sumBy(excludeSales, (bet) =>
-    calculateDpmPayout(contract, bet, 'YES')
+    calculatePayout(contract, bet, 'YES')
   )
   const noWinnings = _.sumBy(excludeSales, (bet) =>
-    calculateDpmPayout(contract, bet, 'NO')
+    calculatePayout(contract, bet, 'NO')
   )
 
   // const p = getProbability(contract.totalShares)
   // const expectation = p * yesWinnings + (1 - p) * noWinnings
 
   const marketWinnings = _.sumBy(excludeSales, (bet) =>
-    calculateDpmPayout(contract, bet, 'MKT')
+    calculatePayout(contract, bet, 'MKT')
   )
 
   const currentValue = resolution ? betsPayout : marketWinnings
@@ -475,15 +473,15 @@ function BetRow(props: { bet: Bet; contract: Contract; saleBet?: Bet }) {
   ) : (
     formatMoney(
       isResolved
-        ? resolvedDpmPayout(contract, bet)
+        ? resolvedPayout(contract, bet)
-        : calculateDpmSaleAmount(contract, bet)
+        : calculateSaleAmount(contract, bet)
     )
   )
 
   const payoutIfChosenDisplay =
     bet.outcome === '0' && bet.isAnte
       ? 'N/A'
-      : formatMoney(calculateDpmPayout(contract, bet, bet.outcome))
+      : formatMoney(calculatePayout(contract, bet, bet.outcome))
 
   return (
     <tr>
@@ -528,7 +526,7 @@ function SellButton(props: { contract: Contract; bet: Bet }) {
 
   const outcomeProb = getProbabilityAfterSale(contract, outcome, shares)
 
-  const saleAmount = calculateDpmSaleAmount(contract, bet)
+  const saleAmount = calculateSaleAmount(contract, bet)
 
   return (
     <ConfirmationButton