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update about page with more info about basic betting mechanics

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mantikoros 2022-01-03 23:56:34 -06:00
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web/pages/about.tsx
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@ -217,17 +217,35 @@ function Contents() {
judgment on the outcome, it leads to a qualitative shift in the number,
variety, and usefulness of prediction markets.
</p>
<h3 id="how-does-betting-in-a-market-work-on-a-technical-level-">
How does betting in a market work on a technical level?
</h3>
<h3 id="how-does-betting-work">How does betting work?</h3>
<ul>
<li>
Markets are structured around a question with a binary outcome (either
YES or NO)
</li>
<li>
Traders can place a bet on either YES or NO. The bet amount is added
to the corresponding bet pool for the outcome. The trader receives
some shares of the final pool. The number of shares depends on the
current implied probability.
</li>
<li>
When the market is resolved, the traders who bet on the correct
outcome are paid out of the total pool (YES pool + NO pool) in
proportion to the amount of shares they own, minus any fees.
</li>
</ul>
<h3 id="type-of-market-maker">What kind of betting system do you use?</h3>
<p>
Mantic Markets uses a special type of automated market marker based on a
dynamic pari-mutuel (DPM) betting system.
</p>
<p>
Like traditional pari-mutuel systems, your payoff is not known at the
time you place your bet (it&#39;s dependent on the size of the pot when
the event ends).
time you place your bet (it&#39;s dependent on the size of the pool when
the event is resolved).
</p>
<p>
Unlike traditional pari-mutuel systems, the price or probability that
@ -238,6 +256,7 @@ function Contents() {
The result is a market that can function well when trading volume is low
without any risk to the market creator.
</p>
<h3 id="who-are-we-">Who are we?</h3>
<p>Mantic Markets is currently a team of three:</p>
<ul>
@ -272,9 +291,16 @@ function Contents() {
Join the Mantic Markets Discord Server!
</a>
</p>
<h1 id="further-reading">Further Reading</h1>
<hr />
<ul>
<li>
<a href="https://mantic.notion.site/Technical-Overview-b9b48a09ea1f45b88d991231171730c5">
Technical Overview of Mantic Markets
</a>
</li>
<li>
<a href="https://en.wikipedia.org/wiki/Prediction_market">
Wikipedia: Prediction markets