Branch data Line data Source code
1 : : ;; Title: BME024 CPMM Categorical Market Predictions
2 : : ;; Synopsis:
3 : : ;; Implements CPMM binary and categorical prediciton markets.
4 : : ;; Description:
5 : : ;; Market creation allows a new binary or categorical market to be set up.
6 : : ;; Off chain market data is verifiable via the markets data hash.
7 : : ;; Markets run in a specific token (stx, sbtc, bmg etc) and the market token has
8 : : ;; to be enabled by the DAO.
9 : : ;; Market creation can be gated via market proof and a market creator can
10 : : ;; set their own fee up to a max fee amount determined by the DAO.
11 : : ;; Anyone with the required token can buy shares. Resolution process begins via a call gated
12 : : ;; to the DAO controlled resolution agent address. The resolution can be challenged by anyone with a stake in the market
13 : : ;; If a challenge is made the dispute resolution process begins which requires a DAO vote
14 : : ;; to resolve - the outcome of the vote resolve the market and sets the outcome.
15 : : ;; If the dispute window passes without challenge or once the vote concludes the market is fully
16 : : ;; resolved and claims can then be made.
17 : : ;; Optional hedge strategy - the execute-hedge strategy can be run during market cool down period. The execute-hedge
18 : : ;; function will call the market specific hedge strategy if supplied or the default startegy otherwise.
19 : : ;; The hedge strategy can be switched off by the dao.
20 : :
21 : : (use-trait ft-token 'SP2AKWJYC7BNY18W1XXKPGP0YVEK63QJG4793Z2D4.sip-010-trait-ft-standard.sip-010-trait)
22 : : (impl-trait .prediction-market-trait.prediction-market-trait)
23 : : (use-trait hedge-trait .hedge-trait.hedge-trait)
24 : : (use-trait ft-velar-token 'SP2AKWJYC7BNY18W1XXKPGP0YVEK63QJG4793Z2D4.sip-010-trait-ft-standard.sip-010-trait)
25 : :
26 : : ;; ---------------- CONSTANTS & TYPES ----------------
27 : : ;; Market Types (1 => categorical market)
28 : : (define-constant MARKET_TYPE u1)
29 : : (define-constant DEFAULT_MARKET_DURATION u144) ;; ~1 day in Bitcoin blocks
30 : : (define-constant DEFAULT_COOL_DOWN_PERIOD u144) ;; ~1 day in Bitcoin blocks
31 : : (define-constant SCALE u1000000)
32 : :
33 : : (define-constant RESOLUTION_OPEN u0)
34 : : (define-constant RESOLUTION_RESOLVING u1)
35 : : (define-constant RESOLUTION_DISPUTED u2)
36 : : (define-constant RESOLUTION_RESOLVED u3)
37 : :
38 : : (define-constant err-unauthorised (err u10000))
39 : : (define-constant err-invalid-market-type (err u10001))
40 : : (define-constant err-amount-too-low (err u10002))
41 : : (define-constant err-wrong-market-type (err u10003))
42 : : (define-constant err-already-concluded (err u10004))
43 : : (define-constant err-market-not-found (err u10005))
44 : : (define-constant err-user-not-winner-or-claimed (err u10006))
45 : : (define-constant err-user-not-staked (err u10008))
46 : : (define-constant err-market-not-concluded (err u10009))
47 : : (define-constant err-insufficient-balance (err u10011))
48 : : (define-constant err-insufficient-contract-balance (err u10012))
49 : : (define-constant err-user-share-is-zero (err u10013))
50 : : (define-constant err-disputer-must-have-stake (err u10015))
51 : : (define-constant err-dispute-window-elapsed (err u10016))
52 : : (define-constant err-market-not-resolving (err u10017))
53 : : (define-constant err-market-not-open (err u10018))
54 : : (define-constant err-dispute-window-not-elapsed (err u10019))
55 : : (define-constant err-market-wrong-state (err u10020))
56 : : (define-constant err-invalid-token (err u10021))
57 : : (define-constant err-max-market-fee-bips-exceeded (err u10022))
58 : : (define-constant err-category-not-found (err u10023))
59 : : (define-constant err-too-few-categories (err u10024))
60 : : (define-constant err-element-expected (err u10025))
61 : : (define-constant err-winning-stake-not-zero (err u10026))
62 : : (define-constant err-losing-stake-is-zero (err u10027))
63 : : (define-constant err-amount-too-high (err u10029))
64 : : (define-constant err-fee-too-high (err u10030))
65 : : (define-constant err-slippage-too-high (err u10031))
66 : : (define-constant err-seed-amount-not-divisible (err u10032))
67 : : (define-constant err-overbuy (err u10034))
68 : : (define-constant err-token-not-configured (err u10035))
69 : : (define-constant err-seed-too-small (err u10036))
70 : : (define-constant err-already-hedged (err u10037))
71 : : (define-constant err-hedging-disabled (err u10038))
72 : : (define-constant err-hedge-unauthorised (err u10100))
73 : : (define-constant err-hedge-window (err u10101))
74 : : (define-constant err-hedge-already (err u10102))
75 : : (define-constant err-hedge-bad-prediction (err u10103))
76 : : (define-constant err-hedge-bad-token (err u10104))
77 : : (define-constant err-hedge-exec-mismatch (err u10105))
78 : : (define-constant err-insufficient-liquidity (err u11041))
79 : : (define-constant err-arithmetic (err u11043))
80 : :
81 : : (define-constant marketplace .bme040-0-shares-marketplace)
82 : : (define-constant MIN_POOL u1)
83 : :
84 : :
85 : : (define-data-var market-counter uint u0)
86 : : (define-data-var dispute-window-length uint u144)
87 : : (define-data-var dev-fee-bips uint u100)
88 : : (define-data-var market-fee-bips-max uint u1000)
89 : : (define-data-var dev-fund principal tx-sender)
90 : : (define-data-var resolution-agent principal tx-sender)
91 : : (define-data-var dao-treasury principal tx-sender)
92 : : (define-data-var creation-gated bool true)
93 : : (define-data-var resolution-timeout uint u1000) ;; 1000 blocks (~9 days)
94 : : (define-data-var default-hedge-executor principal .bme032-0-scalar-strategy-hedge)
95 : : (define-data-var hedging-enabled bool true)
96 : :
97 : : ;; Data structure for each Market
98 : : ;; outcome: winning category
99 : : (define-map markets
100 : : uint
101 : : {
102 : : market-data-hash: (buff 32),
103 : : token: principal,
104 : : treasury: principal,
105 : : creator: principal,
106 : : market-fee-bips: uint,
107 : : resolution-state: uint, ;; "open", "resolving", "disputed", "concluded"
108 : : resolution-burn-height: uint,
109 : : categories: (list 10 (string-ascii 64)), ;; List of available categories
110 : : stakes: (list 10 uint), ;; Total staked per category - shares
111 : : stake-tokens: (list 10 uint), ;; Total staked per category - tokens
112 : : outcome: (optional uint),
113 : : concluded: bool,
114 : : market-start: uint,
115 : : market-duration: uint,
116 : : cool-down-period: uint,
117 : : hedge-executor: (optional principal),
118 : : hedged: bool,
119 : : }
120 : : )
121 : : ;; defines the minimum liquidity a market creator needs to provide
122 : : (define-map token-minimum-seed {token: principal} uint)
123 : :
124 : : ;; tracks the amount of shares the user owns per market / category
125 : : (define-map stake-balances
126 : : { market-id: uint, user: principal }
127 : : (list 10 uint)
128 : : )
129 : : ;; tracks the cost of shares to the user per market / category
130 : : (define-map token-balances
131 : : { market-id: uint, user: principal }
132 : : (list 10 uint)
133 : : )
134 : : (define-map allowed-tokens principal bool)
135 : :
136 : : ;; ---------------- access control ----------------
137 : 289 : (define-public (is-dao-or-extension)
138 [ + ][ + + ]: 4684 : (ok (asserts! (or (is-eq tx-sender .bigmarket-dao) (contract-call? .bigmarket-dao is-extension contract-caller)) err-unauthorised))
139 : : )
140 : :
141 : : ;; ---------------- getters / setters ----------------
142 : 289 : (define-public (set-allowed-token (token principal) (enabled bool))
143 : 1156 : (begin
144 : 1156 : (try! (is-dao-or-extension))
145 : 1156 : (print {event: "allowed-token", token: token, enabled: enabled})
146 : 1156 : (ok (map-set allowed-tokens token enabled))
147 : : )
148 : : )
149 : 222 : (define-read-only (is-allowed-token (token principal))
150 : 336 : (default-to false (map-get? allowed-tokens token))
151 : : )
152 : :
153 : 289 : (define-public (set-dispute-window-length (length uint))
154 : 298 : (begin
155 : 298 : (try! (is-dao-or-extension))
156 : 298 : (var-set dispute-window-length length)
157 : 298 : (ok true)
158 : : )
159 : : )
160 : :
161 : 289 : (define-public (set-default-hedge-executor (p principal))
162 : 289 : (begin
163 : 289 : (try! (is-dao-or-extension))
164 : 289 : (var-set default-hedge-executor p)
165 : 289 : (print {event: "default-hedge-executor", default-hedge-executor: p})
166 : 289 : (ok true)
167 : : )
168 : : )
169 : :
170 : 0 : (define-public (set-hedging-enabled (enabled bool))
171 : 0 : (begin
172 : 0 : (try! (is-dao-or-extension))
173 : 0 : (var-set hedging-enabled enabled)
174 : 0 : (ok enabled)
175 : : )
176 : : )
177 : 0 : (define-read-only (is-hedging-enabled) (var-get hedging-enabled))
178 : :
179 : 289 : (define-public (set-creation-gated (gated bool))
180 : 299 : (begin
181 : 299 : (try! (is-dao-or-extension))
182 : 299 : (var-set creation-gated gated)
183 : 299 : (ok true)
184 : : )
185 : : )
186 : :
187 : 289 : (define-public (set-resolution-agent (new-agent principal))
188 : 298 : (begin
189 : 298 : (try! (is-dao-or-extension))
190 : 298 : (var-set resolution-agent new-agent)
191 : 298 : (ok true)
192 : : )
193 : : )
194 : :
195 : 289 : (define-public (set-dev-fee-bips (new-fee uint))
196 : 295 : (begin
197 [ - ]: 295 : (asserts! (<= new-fee u1000) err-max-market-fee-bips-exceeded)
198 : 295 : (try! (is-dao-or-extension))
199 : 295 : (var-set dev-fee-bips new-fee)
200 : 295 : (ok true)
201 : : )
202 : : )
203 : :
204 : 289 : (define-public (set-market-fee-bips-max (new-fee uint))
205 : 295 : (begin
206 [ - ]: 295 : (asserts! (<= new-fee u1000) err-max-market-fee-bips-exceeded)
207 : 295 : (try! (is-dao-or-extension))
208 : 295 : (var-set market-fee-bips-max new-fee)
209 : 295 : (ok true)
210 : : )
211 : : )
212 : :
213 : 289 : (define-public (set-token-minimum-seed (token principal) (min uint))
214 : 1156 : (begin
215 : 1156 : (try! (is-dao-or-extension))
216 : 1156 : (map-set token-minimum-seed {token: token} min)
217 : 1156 : (ok true)
218 : : )
219 : : )
220 : :
221 : 0 : (define-read-only (get-token-minimum-seed (seed-token principal))
222 : 0 : (ok (map-get? token-minimum-seed {token: seed-token}))
223 : : )
224 : :
225 : 289 : (define-public (set-dev-fund (new-dev-fund principal))
226 : 289 : (begin
227 : 289 : (try! (is-dao-or-extension))
228 : 289 : (var-set dev-fund new-dev-fund)
229 : 289 : (ok true)
230 : : )
231 : : )
232 : :
233 : 289 : (define-public (set-dao-treasury (new-dao-treasury principal))
234 : 289 : (begin
235 : 289 : (try! (is-dao-or-extension))
236 : 289 : (var-set dao-treasury new-dao-treasury)
237 : 289 : (ok true)
238 : : )
239 : : )
240 : :
241 : 40 : (define-read-only (get-market-data (market-id uint))
242 : 101 : (map-get? markets market-id)
243 : : )
244 : :
245 : 7 : (define-read-only (get-stake-balances (market-id uint) (user principal))
246 : 16 : (ok (default-to (list u0 u0 u0 u0 u0 u0 u0 u0 u0 u0) (map-get? stake-balances {market-id: market-id, user: user})))
247 : : )
248 : :
249 : 0 : (define-read-only (get-token-balances (market-id uint) (user principal))
250 : 0 : (ok (default-to (list u0 u0 u0 u0 u0 u0 u0 u0 u0 u0) (map-get? token-balances {market-id: market-id, user: user})))
251 : : )
252 : :
253 : : ;; ---------------- public functions ----------------
254 : :
255 : 234 : (define-public (create-market
256 : : (categories (list 10 (string-ascii 64)))
257 : : (fee-bips (optional uint))
258 : : (token <ft-token>)
259 : : (market-data-hash (buff 32))
260 : : (proof (list 10 (tuple (position bool) (hash (buff 32)))))
261 : : (treasury principal)
262 : : (market-duration (optional uint))
263 : : (cool-down-period (optional uint))
264 : : (seed-amount uint)
265 : : (hedge-executor (optional principal))
266 : : )
267 : 348 : (let (
268 : 348 : (creator tx-sender)
269 : 348 : (new-id (var-get market-counter))
270 : 348 : (market-fee-bips (default-to u0 fee-bips))
271 : 348 : (market-duration-final (default-to DEFAULT_MARKET_DURATION market-duration))
272 : 348 : (cool-down-final (default-to DEFAULT_COOL_DOWN_PERIOD cool-down-period))
273 : 348 : (current-block burn-block-height)
274 : 348 : (num-categories (len categories))
275 : : ;; NOTE: seed is evenly divided with rounding error discarded
276 : 348 : (seed (/ (* seed-amount SCALE) (* num-categories SCALE)))
277 : 348 : (user-stake-list (list seed seed seed seed seed seed seed seed seed seed))
278 : 348 : (share-list (zero-after-n user-stake-list num-categories))
279 : : )
280 [ - ]: 348 : (asserts! (> market-duration-final u10) err-market-not-found)
281 [ - ]: 348 : (asserts! (> cool-down-final u10) err-market-not-found)
282 : :
283 [ + ]: 348 : (asserts! (> (len categories) u1) err-too-few-categories)
284 [ + ]: 337 : (asserts! (<= market-fee-bips (var-get market-fee-bips-max)) err-max-market-fee-bips-exceeded)
285 : : ;; ensure the trading token is allowed
286 [ - ]: 336 : (asserts! (is-allowed-token (contract-of token)) err-invalid-token)
287 : :
288 : : ;; ensure enough liquidity
289 [ - ]: 336 : (asserts! (>= seed-amount (unwrap! (map-get? token-minimum-seed {token: (contract-of token)}) err-token-not-configured)) err-seed-too-small)
290 : : ;; liquidity floor guards (for CPMM safety)
291 [ - ]: 336 : (asserts! (>= seed MIN_POOL) err-insufficient-liquidity)
292 [ - ]: 336 : (asserts! (>= seed-amount (* num-categories MIN_POOL)) err-insufficient-liquidity) ;; avoid rounding below floor
293 : :
294 : : ;; Transfer single winning portion of seed to market contract to fund claims
295 : 336 : (try! (contract-call? token transfer seed-amount tx-sender (as-contract tx-sender) none))
296 : :
297 : : ;; ensure the user is allowed to create if gating by merkle proof is required
298 [ + + ]: 336 : (if (var-get creation-gated) (try! (as-contract (contract-call? .bme022-0-market-gating can-access-by-account creator proof))) true)
299 : :
300 : : ;; dao is assigned the seed liquidity - share and tokens 1:1 at kick off
301 : 333 : (map-set stake-balances {market-id: new-id, user: (var-get dao-treasury)} share-list)
302 : 333 : (map-set token-balances {market-id: new-id, user: (var-get dao-treasury)} share-list)
303 : :
304 : 333 : (map-set markets
305 : 333 : new-id
306 : : {
307 : 333 : market-data-hash: market-data-hash,
308 : 333 : token: (contract-of token),
309 : 333 : treasury: treasury,
310 : 333 : creator: creator,
311 : 333 : market-fee-bips: market-fee-bips,
312 : 333 : resolution-state: RESOLUTION_OPEN,
313 : 333 : resolution-burn-height: u0,
314 : 333 : categories: categories,
315 : 333 : stakes: share-list,
316 : 333 : stake-tokens: share-list, ;; they start out the same
317 : 333 : outcome: none,
318 : 333 : concluded: false,
319 : 333 : market-start: current-block,
320 : 333 : market-duration: market-duration-final,
321 : 333 : cool-down-period: cool-down-final,
322 : 333 : hedge-executor: hedge-executor,
323 : 333 : hedged: false,
324 : : }
325 : : )
326 : 333 : (var-set market-counter (+ new-id u1))
327 : 333 : (try! (contract-call? .bme030-0-reputation-token mint tx-sender u2 u8))
328 : 333 : (print {event: "create-market", market-id: new-id, categories: categories, market-fee-bips: market-fee-bips, token: token, market-data-hash: market-data-hash, creator: tx-sender, seed-amount: seed-amount})
329 : 333 : (ok new-id)
330 : : )
331 : : )
332 : :
333 : : ;; Read-only: get current price to buy `amount` shares in a category
334 : 0 : (define-read-only (get-share-cost (market-id uint) (index uint) (amount-shares uint))
335 : 0 : (let (
336 : 0 : (market-data (unwrap-panic (map-get? markets market-id)))
337 : 0 : (stake-list (get stakes market-data))
338 : 0 : (selected-pool (unwrap-panic (element-at? stake-list index)))
339 : 0 : (total-pool (fold + stake-list u0))
340 : 0 : (other-pool (- total-pool selected-pool))
341 [ - - ]: 0 : (max-purchase (if (> other-pool MIN_POOL) (- other-pool MIN_POOL) u0))
342 : 0 : (cost (unwrap! (cpmm-cost selected-pool other-pool amount-shares) err-arithmetic))
343 : : )
344 : 0 : (ok { cost: cost, max-purchase: max-purchase })
345 : : )
346 : : )
347 : :
348 : : ;; Compute the token cost to buy `amount-shares` from `selected-pool`,
349 : : ;; given the rest-of-market liquidity `other-pool`.
350 : 173 : (define-private (cpmm-cost (selected-pool uint) (other-pool uint) (amount-shares uint))
351 : 425 : (begin
352 : : ;; Both pools must have liquidity
353 [ - ]: 425 : (asserts! (> selected-pool u0) err-insufficient-liquidity)
354 [ - ]: 425 : (asserts! (> other-pool u0) err-insufficient-liquidity)
355 : :
356 : : ;; You cannot buy so much that the counter-pool hits 0 or below MIN_POOL
357 : 425 : (let (
358 [ + - ]: 425 : (max-purchase (if (> other-pool MIN_POOL) (- other-pool MIN_POOL) u0))
359 : : )
360 [ - ]: 425 : (asserts! (<= amount-shares max-purchase) err-overbuy)
361 : :
362 : 425 : (let (
363 : 425 : (new-y (- other-pool amount-shares))
364 : 425 : (numerator (* selected-pool other-pool))
365 : 425 : (new-x (/ (* numerator SCALE) new-y))
366 : 425 : (cost (/ (- new-x (* selected-pool SCALE)) SCALE))
367 : : )
368 : 425 : (ok cost)
369 : : )
370 : : )
371 : : )
372 : : )
373 : :
374 : : ;; Read-only: get current price to buy `amount` shares in a category
375 : 0 : (define-read-only (get-max-shares (market-id uint) (index uint) (total-cost uint))
376 : 0 : (let (
377 : 0 : (fee-scaled (/ (* (* total-cost (var-get dev-fee-bips)) SCALE) u10000))
378 : 0 : (fee (/ fee-scaled SCALE))
379 [ - - ]: 0 : (cost-of-shares (if (> total-cost fee) (- total-cost fee) u0))
380 : 0 : (market-data (unwrap-panic (map-get? markets market-id)))
381 : 0 : (stake-list (get stakes market-data))
382 : 0 : (selected-pool (unwrap-panic (element-at? stake-list index)))
383 : 0 : (total-pool (fold + stake-list u0))
384 : 0 : (other-pool (- total-pool selected-pool))
385 [ - - ]: 0 : (max-by-floor (if (> other-pool MIN_POOL) (- other-pool MIN_POOL) u0))
386 : 0 : (shares (unwrap! (cpmm-shares selected-pool other-pool cost-of-shares) err-arithmetic))
387 [ - - ]: 0 : (shares-clamped (if (> shares max-by-floor) max-by-floor shares))
388 : : )
389 : 0 : (ok { shares: shares-clamped, fee: fee, cost-of-shares: cost-of-shares })
390 : : )
391 : : )
392 : : ;; Inverse: given a token `cost`, how many shares can be bought safely?
393 : 173 : (define-private (cpmm-shares (selected-pool uint) (other-pool uint) (cost uint))
394 : 420 : (begin
395 [ - ]: 420 : (asserts! (> selected-pool u0) err-insufficient-liquidity)
396 [ - ]: 420 : (asserts! (> other-pool u0) err-insufficient-liquidity)
397 : :
398 : 420 : (if (is-eq cost u0)
399 [ - ]: 0 : (ok u0)
400 [ + ]: 420 : (let (
401 : 420 : (denom (+ selected-pool cost)) ;; > selected-pool, non-zero
402 : 420 : (numerator (* selected-pool other-pool))
403 : 420 : (new-y (/ (* numerator SCALE) denom))
404 : 420 : (raw-shares (if (> (* other-pool SCALE) new-y)
405 [ + ]: 420 : (/ (- (* other-pool SCALE) new-y) SCALE)
406 [ - ]: 0 : u0))
407 : : ;; Enforce floor: clamp to keep MIN_POOL on the other side
408 [ + - ]: 420 : (max-by-floor (if (> other-pool MIN_POOL) (- other-pool MIN_POOL) u0))
409 [ - + ]: 420 : (shares (if (> raw-shares max-by-floor) max-by-floor raw-shares))
410 : : )
411 : 420 : (ok shares)
412 : : )
413 : : )
414 : : )
415 : : )
416 : : ;; Predict category with CPMM pricing
417 : 184 : (define-public (predict-category (market-id uint) (min-shares uint) (category (string-ascii 64)) (token <ft-token>) (max-cost uint))
418 : 431 : (let (
419 : 431 : (md (unwrap! (map-get? markets market-id) err-market-not-found))
420 : 431 : (categories (get categories md))
421 : 431 : (index (unwrap! (index-of? categories category) err-category-not-found))
422 : 420 : (stake-tokens-list (get stake-tokens md))
423 : 420 : (selected-token-pool (unwrap! (element-at? stake-tokens-list index) err-category-not-found))
424 : 420 : (stake-list (get stakes md))
425 : 420 : (selected-pool (unwrap! (element-at? stake-list index) err-category-not-found))
426 : 420 : (total-pool (fold + stake-list u0))
427 : 420 : (other-pool (- total-pool selected-pool))
428 : 420 : (sender-balance (unwrap! (contract-call? token get-balance tx-sender) err-insufficient-balance))
429 : 420 : (fee (/ (* max-cost (var-get dev-fee-bips)) u10000))
430 [ + - ]: 420 : (cost-of-shares (if (> max-cost fee) (- max-cost fee) u0))
431 [ + - ]: 420 : (max-by-floor (if (> other-pool MIN_POOL) (- other-pool MIN_POOL) u0))
432 : 420 : (amount-shares (unwrap! (cpmm-shares selected-pool other-pool cost-of-shares) err-insufficient-balance))
433 : 420 : (max-cost-of-shares (unwrap! (cpmm-cost selected-pool other-pool max-by-floor) err-overbuy))
434 [ + - ]: 420 : (max-purchase (if (> other-pool u0) (- other-pool u1) u0))
435 : 420 : (market-end (+ (get market-start md) (get market-duration md)))
436 : : )
437 : : ;; Validate token and market state
438 [ - ]: 420 : (asserts! (< index (len categories)) err-category-not-found)
439 [ - ]: 420 : (asserts! (is-eq (get token md) (contract-of token)) err-invalid-token)
440 [ - ]: 420 : (asserts! (not (get concluded md)) err-market-not-concluded)
441 [ + ]: 420 : (asserts! (is-eq (get resolution-state md) RESOLUTION_OPEN) err-market-not-open)
442 [ - ]: 419 : (asserts! (>= max-cost u100) err-amount-too-low)
443 [ - ]: 419 : (asserts! (>= sender-balance max-cost) err-insufficient-balance)
444 [ - ]: 419 : (asserts! (<= max-cost u50000000000000) err-amount-too-high)
445 [ - ]: 419 : (asserts! (< burn-block-height market-end) err-market-not-open)
446 : : ;; ensure the user cannot overpay for shares - this can skew liquidity in other pools
447 [ - ]: 419 : (asserts! (<= cost-of-shares max-cost-of-shares) err-overbuy)
448 [ - ]: 419 : (asserts! (< amount-shares other-pool) err-overbuy)
449 [ + ]: 419 : (asserts! (>= amount-shares min-shares) err-slippage-too-high)
450 [ - ]: 417 : (asserts! (> other-pool u0) err-insufficient-liquidity)
451 [ - ]: 417 : (asserts! (<= amount-shares max-by-floor) err-overbuy)
452 : :
453 : : ;; --- Token Transfers ---
454 : 417 : (try! (contract-call? token transfer cost-of-shares tx-sender (as-contract tx-sender) none))
455 : 417 : (if (> fee u0)
456 [ + ]: 417 : (try! (contract-call? token transfer fee tx-sender (var-get dev-fund) none))
457 [ - ]: 0 : true
458 : : )
459 : :
460 : : ;; --- Update Market State ---
461 : 405 : (let (
462 : 405 : (updated-stakes (unwrap! (replace-at? stake-list index (+ selected-pool amount-shares)) err-category-not-found))
463 : 405 : (updated-token-stakes (unwrap! (replace-at? stake-tokens-list index (+ selected-token-pool cost-of-shares)) err-category-not-found))
464 : : )
465 : 405 : (map-set markets market-id (merge md {stakes: updated-stakes, stake-tokens: updated-token-stakes}))
466 : : )
467 : :
468 : : ;; --- Update User Balances ---
469 : 405 : (let (
470 : 405 : (current-token-balances (default-to (list u0 u0 u0 u0 u0 u0 u0 u0 u0 u0) (map-get? token-balances {market-id: market-id, user: tx-sender})))
471 : 405 : (token-current (unwrap! (element-at? current-token-balances index) err-category-not-found))
472 : 405 : (user-token-updated (unwrap! (replace-at? current-token-balances index (+ token-current cost-of-shares)) err-category-not-found))
473 : :
474 : 405 : (current-stake-balances (default-to (list u0 u0 u0 u0 u0 u0 u0 u0 u0 u0) (map-get? stake-balances {market-id: market-id, user: tx-sender})))
475 : 405 : (user-current (unwrap! (element-at? current-stake-balances index) err-category-not-found))
476 : 405 : (user-stake-updated (unwrap! (replace-at? current-stake-balances index (+ user-current amount-shares)) err-category-not-found))
477 : : )
478 : 405 : (map-set stake-balances {market-id: market-id, user: tx-sender} user-stake-updated)
479 : 405 : (map-set token-balances {market-id: market-id, user: tx-sender} user-token-updated)
480 : 405 : (print {event: "market-stake", market-id: market-id, index: index, amount: amount-shares, cost: cost-of-shares, fee: fee, voter: tx-sender, max-cost: max-cost})
481 : 405 : (ok index)
482 : : )
483 : : )
484 : : )
485 : :
486 : : ;; Resolve a market invoked by ai-agent.
487 : 121 : (define-public (resolve-market (market-id uint) (category (string-ascii 64)))
488 : 127 : (let (
489 : 127 : (md (unwrap! (map-get? markets market-id) err-market-not-found))
490 : 126 : (final-index (unwrap! (index-of? (get categories md) category) err-category-not-found))
491 : 126 : (market-end (+ (get market-start md) (get market-duration md)))
492 : 126 : (market-close (+ market-end (get cool-down-period md)))
493 : : )
494 [ + ][ + + ]: 126 : (asserts! (or (is-eq tx-sender (var-get resolution-agent)) (is-eq tx-sender (get creator md))) err-unauthorised)
495 [ - ]: 122 : (asserts! (>= burn-block-height market-close) err-market-wrong-state)
496 [ + ]: 122 : (asserts! (is-eq (get resolution-state md) RESOLUTION_OPEN) err-market-wrong-state)
497 : :
498 : 121 : (map-set markets market-id
499 : 121 : (merge md
500 : 121 : { outcome: (some final-index), resolution-state: RESOLUTION_RESOLVING, resolution-burn-height: burn-block-height }
501 : : )
502 : : )
503 : 121 : (print {event: "resolve-market", market-id: market-id, outcome: final-index, resolver: tx-sender, resolution-state: RESOLUTION_RESOLVING, resolution-burn-height: burn-block-height})
504 : 121 : (ok final-index)
505 : : )
506 : : )
507 : :
508 : 0 : (define-public (execute-hedge
509 : : (market-id uint)
510 : : (hedge-executor <hedge-trait>)
511 : : (token0 <ft-velar-token>) (token1 <ft-velar-token>)
512 : : (token-in <ft-velar-token>) (token-out <ft-velar-token>))
513 : :
514 : 0 : (let (
515 : 0 : (md (unwrap! (map-get? markets market-id) err-market-not-found))
516 : 0 : (market-end (+ (get market-start md) (get market-duration md)))
517 : 0 : (cool-end (+ market-end (get cool-down-period md)))
518 : 0 : (hedged (get hedged md))
519 : 0 : (stored-hexec (default-to (var-get default-hedge-executor) (get hedge-executor md)))
520 : 0 : (cats (get categories md))
521 : 0 : (stakes (get stakes md))
522 : 0 : (predicted (get-biggest-pool-index stakes))
523 : : )
524 : :
525 : : ;; 0) Feature flag
526 [ - ]: 0 : (asserts! (var-get hedging-enabled) err-hedging-disabled)
527 : :
528 : : ;; 1) Auth: restrict who can trigger the hedge (DAO or resolution-agent)
529 : 0 : (asserts!
530 [ - ]: 0 : (or (is-eq tx-sender (var-get resolution-agent))
531 [ - ]: 0 : (unwrap! (is-dao-or-extension) err-hedge-unauthorised))
532 [ - ]: 0 : err-hedge-unauthorised)
533 : :
534 : : ;; 2) Executor authenticity: the provided contract must match stored one exactly
535 [ - ]: 0 : (asserts! (is-eq (contract-of hedge-executor) stored-hexec) err-hedge-exec-mismatch)
536 : :
537 : : ;; 3) Time window: only during cool-down window
538 [ - ]: 0 : (asserts! (>= burn-block-height market-end) err-hedge-window)
539 [ - ]: 0 : (asserts! (< burn-block-height cool-end) err-hedge-window)
540 : :
541 : : ;; 4) Market must be unresolved + not already hedged
542 [ - ]: 0 : (asserts! (not (get concluded md)) err-market-wrong-state)
543 [ - ]: 0 : (asserts! (not hedged) err-hedge-already)
544 : :
545 : : ;; 5) Validate predicted index against categories length
546 : 0 : (asserts! (< (get index (fold find-max-helper stakes { max-val: u0, index: u0, current-index: u0 }))
547 : 0 : (len cats))
548 [ - ]: 0 : err-hedge-bad-prediction)
549 : :
550 : : ;; 6) Validate all tokens are allowed & consistent
551 [ - ]: 0 : (asserts! (is-allowed-token (contract-of token0)) err-hedge-bad-token)
552 [ - ]: 0 : (asserts! (is-allowed-token (contract-of token1)) err-hedge-bad-token)
553 [ - ]: 0 : (asserts! (is-allowed-token (contract-of token-in)) err-hedge-bad-token)
554 [ - ]: 0 : (asserts! (is-allowed-token (contract-of token-out)) err-hedge-bad-token)
555 : : ;; (optional) require token-in/out to be among token0/token1
556 : 0 : (asserts!
557 [ - ][ - ]: 0 : (or (and (is-eq (contract-of token-in) (contract-of token0))
558 [ - ]: 0 : (is-eq (contract-of token-out) (contract-of token1)))
559 [ - ][ - ]: 0 : (and (is-eq (contract-of token-in) (contract-of token1))
560 [ - ]: 0 : (is-eq (contract-of token-out) (contract-of token0))))
561 [ - ]: 0 : err-hedge-bad-token)
562 : :
563 : : ;; 7) Reentrancy/race guard: set hedged=true before external call.
564 : : ;; If the call fails, state reverts automatically.
565 : 0 : (map-set markets market-id (merge md { hedged: true }))
566 : 0 : (print {event: "hedge-start", market-id: market-id, predicted: predicted, executor: stored-hexec})
567 : :
568 : : ;; 8) Execute the hedge via the whitelisted strategy
569 : 0 : (try! (contract-call? hedge-executor perform-custom-hedge market-id predicted))
570 : :
571 : 0 : (print {event: "hedge-done", market-id: market-id, predicted: predicted})
572 : 0 : (ok predicted)
573 : : )
574 : : )
575 : :
576 : 85 : (define-public (resolve-market-undisputed (market-id uint))
577 : 91 : (let (
578 : 91 : (md (unwrap! (map-get? markets market-id) err-market-not-found))
579 : : )
580 [ + ]: 91 : (asserts! (> burn-block-height (+ (get resolution-burn-height md) (var-get dispute-window-length))) err-dispute-window-not-elapsed)
581 [ - ]: 77 : (asserts! (is-eq (get resolution-state md) RESOLUTION_RESOLVING) err-market-not-open)
582 : :
583 : 77 : (map-set markets market-id
584 : 77 : (merge md
585 : 77 : { concluded: true, resolution-state: RESOLUTION_RESOLVED, resolution-burn-height: burn-block-height }
586 : : )
587 : : )
588 : 77 : (print {event: "resolve-market-undisputed", market-id: market-id, resolution-burn-height: burn-block-height, resolution-state: RESOLUTION_RESOLVED})
589 : 77 : (ok true)
590 : : )
591 : : )
592 : :
593 : : ;; concludes a market that has been disputed. This method has to be called at least
594 : : ;; dispute-window-length blocks after the dispute was raised - the voting window.
595 : : ;; a proposal with 0 votes will close the market with the outcome false
596 : 4 : (define-public (resolve-market-vote (market-id uint) (outcome uint))
597 : 5 : (let (
598 : 5 : (md (unwrap! (map-get? markets market-id) err-market-not-found))
599 : : )
600 : 5 : (try! (is-dao-or-extension))
601 [ - ]: 5 : (asserts! (< outcome (len (get categories md))) err-market-not-found)
602 [ - ][ + - ]: 5 : (asserts! (or (is-eq (get resolution-state md) RESOLUTION_DISPUTED) (is-eq (get resolution-state md) RESOLUTION_RESOLVING)) err-market-wrong-state)
603 : :
604 : 5 : (map-set markets market-id
605 : 5 : (merge md
606 : 5 : { concluded: true, outcome: (some outcome), resolution-state: RESOLUTION_RESOLVED }
607 : : )
608 : : )
609 : 5 : (print {event: "resolve-market-vote", market-id: market-id, resolver: contract-caller, outcome: outcome, resolution-state: RESOLUTION_RESOLVED})
610 : 5 : (ok true)
611 : : )
612 : : )
613 : :
614 : : ;; Allows a user with a stake in market to contest the resolution
615 : : ;; the call is made via the voting contract 'create-market-vote' function
616 : 11 : (define-public (dispute-resolution (market-id uint) (disputer principal) (num-categories uint))
617 : 11 : (let (
618 : 11 : (md (unwrap! (map-get? markets market-id) err-market-not-found))
619 : : ;; ensure user has a stake
620 : 11 : (stake-data (unwrap! (map-get? stake-balances { market-id: market-id, user: disputer }) err-disputer-must-have-stake))
621 : : )
622 : : ;; user call create-market-vote in the voting contract to start a dispute
623 : 10 : (try! (is-dao-or-extension))
624 : :
625 [ - ]: 9 : (asserts! (is-eq num-categories (len (get categories md))) err-too-few-categories)
626 : : ;; prevent market getting locked in unresolved state
627 [ - ]: 9 : (asserts! (<= burn-block-height (+ (get resolution-burn-height md) (var-get dispute-window-length))) err-dispute-window-elapsed)
628 : :
629 [ - ]: 9 : (asserts! (is-eq (get resolution-state md) RESOLUTION_RESOLVING) err-market-not-resolving)
630 : :
631 : 9 : (map-set markets market-id
632 : 9 : (merge md { resolution-state: RESOLUTION_DISPUTED }))
633 : 9 : (print {event: "dispute-resolution", market-id: market-id, disputer: disputer, resolution-state: RESOLUTION_DISPUTED})
634 : 9 : (ok true)
635 : : )
636 : : )
637 : 0 : (define-public (force-resolve-market (market-id uint))
638 : 0 : (let (
639 : 0 : (md (unwrap! (map-get? markets market-id) err-market-not-found))
640 : 0 : (elapsed (- burn-block-height (get resolution-burn-height md)))
641 : : )
642 : 0 : (begin
643 [ - ]: 0 : (asserts! (> elapsed (var-get resolution-timeout)) err-market-wrong-state)
644 [ - ]: 0 : (asserts! (is-eq (get resolution-state md) RESOLUTION_DISPUTED) err-market-wrong-state)
645 : :
646 : 0 : (map-set markets market-id
647 : 0 : (merge md { resolution-state: RESOLUTION_RESOLVED, concluded: true })
648 : : )
649 : 0 : (print {event: "force-resolve", market-id: market-id, resolution-state: RESOLUTION_RESOLVED})
650 : 0 : (ok true)
651 : : ))
652 : : )
653 : :
654 : : ;; Proportional payout with market fee only
655 : 59 : (define-public (claim-winnings (market-id uint) (token <ft-token>))
656 : 101 : (let (
657 : 101 : (md (unwrap! (map-get? markets market-id) err-market-not-found))
658 : 99 : (index-won (unwrap! (get outcome md) err-market-not-concluded))
659 : 94 : (marketfee-bips (get market-fee-bips md))
660 : 94 : (treasury (get treasury md))
661 : 94 : (original-sender tx-sender)
662 : :
663 : : ;; user may have acquired shares via p2p and so have no entry under token-balances
664 : 94 : (user-token-list (default-to (list u0 u0 u0 u0 u0 u0 u0 u0 u0 u0) (map-get? token-balances {market-id: market-id, user: tx-sender})))
665 : 94 : (user-tokens (unwrap! (element-at? user-token-list index-won) err-user-not-staked))
666 : :
667 : 94 : (user-stake-list (unwrap! (map-get? stake-balances {market-id: market-id, user: tx-sender}) err-user-not-staked))
668 : 83 : (user-shares (unwrap! (element-at? user-stake-list index-won) err-user-not-staked))
669 : :
670 : 83 : (stake-list (get stakes md))
671 : 83 : (winning-pool (unwrap! (element-at? stake-list index-won) err-market-not-concluded))
672 : 83 : (total-share-pool (fold + stake-list u0))
673 : :
674 : 83 : (staked-tokens (get stake-tokens md))
675 : 83 : (total-token-pool (fold + staked-tokens u0))
676 : :
677 : : ;; CPMM Payout: the proportion of the total tokens staked to the shares won
678 : 83 : (gross-refund-scaled (if (> winning-pool u0)
679 [ + ]: 83 : (/ (* (* user-shares total-token-pool) SCALE) winning-pool)
680 [ - ]: 0 : u0))
681 : 83 : (gross-refund (/ gross-refund-scaled SCALE))
682 : :
683 : 83 : (marketfee (/ (* gross-refund marketfee-bips) u10000))
684 : 83 : (net-refund (- gross-refund marketfee))
685 : : )
686 : : ;; Check resolved and non zero payout
687 [ + ]: 83 : (asserts! (is-eq (get resolution-state md) RESOLUTION_RESOLVED) err-market-not-concluded)
688 [ - ]: 81 : (asserts! (get concluded md) err-market-not-concluded)
689 [ + ]: 81 : (asserts! (> user-shares u0) err-user-not-winner-or-claimed)
690 [ - ]: 60 : (asserts! (> winning-pool u0) err-amount-too-low)
691 [ - ]: 60 : (asserts! (> net-refund u0) err-user-share-is-zero)
692 : :
693 : : ;; Transfer winnings and market fee
694 : 60 : (as-contract
695 : 60 : (begin
696 : 60 : (if (> marketfee u0)
697 [ + ]: 3 : (try! (contract-call? token transfer marketfee tx-sender treasury none))
698 [ + ]: 57 : true
699 : : )
700 : 60 : (try! (contract-call? token transfer net-refund tx-sender original-sender none))
701 : : )
702 : : )
703 : :
704 : : ;; Zero out stake
705 : 60 : (map-set token-balances {market-id: market-id, user: tx-sender} (list u0 u0 u0 u0 u0 u0 u0 u0 u0 u0))
706 : 60 : (map-set stake-balances {market-id: market-id, user: tx-sender} (list u0 u0 u0 u0 u0 u0 u0 u0 u0 u0))
707 : 60 : (try! (contract-call? .bme030-0-reputation-token mint tx-sender u1 u10))
708 : 60 : (print {event: "claim-winnings", market-id: market-id, index-won: index-won, claimer: tx-sender, user-tokens: user-tokens, user-shares: user-shares, refund: net-refund, marketfee: marketfee, winning-pool: winning-pool, total-pool: total-share-pool})
709 : 60 : (ok net-refund)
710 : : )
711 : : )
712 : :
713 : 0 : (define-read-only (get-expected-payout (market-id uint) (index uint) (user principal))
714 : 0 : (let (
715 : 0 : (md (unwrap-panic (map-get? markets market-id)))
716 : :
717 : 0 : (token-pool (fold + (get stake-tokens md) u0))
718 : :
719 : 0 : (user-shares-list (unwrap-panic (map-get? stake-balances {market-id: market-id, user: user})))
720 : 0 : (user-shares (unwrap-panic (element-at? user-shares-list index)))
721 : :
722 : 0 : (winning-shares-pool (unwrap-panic (element-at? (get stakes md) index)))
723 : :
724 : 0 : (marketfee-bips (get market-fee-bips md))
725 [ - - ]: 0 : (gross-refund (if (> winning-shares-pool u0) (/ (* user-shares token-pool) winning-shares-pool) u0))
726 : 0 : (marketfee (/ (* gross-refund marketfee-bips) u10000))
727 : 0 : (net-refund (- gross-refund marketfee))
728 : : )
729 [ - - - ]: 0 : (if (and (> user-shares u0) (> winning-shares-pool u0) (> net-refund u0))
730 [ - ]: 0 : (ok { net-refund: net-refund, marketfee: marketfee-bips })
731 [ - ]: 0 : (err u1) ;; not eligible or payout = 0
732 : : )
733 : : )
734 : : )
735 : :
736 : : ;; marketplace transfer function to move shares - dao extension callable
737 : : ;; note - an automated dao function that fulfils orders functions as a 'sell-shares' feature
738 : 5 : (define-public (transfer-shares
739 : : (market-id uint)
740 : : (outcome uint)
741 : : (seller principal)
742 : : (buyer principal)
743 : : (amount uint)
744 : : (token <ft-token>)
745 : : )
746 : 5 : (let (
747 : 5 : (md (unwrap! (map-get? markets market-id) err-market-not-found))
748 : 5 : (stake-list (get stakes md))
749 : 5 : (market-token (get token md))
750 : 5 : (selected-pool (unwrap! (element-at? stake-list outcome) err-category-not-found))
751 : 5 : (other-pools (- (fold + stake-list u0) selected-pool))
752 : :
753 : : ;; Pricing
754 : 5 : (price (unwrap! (cpmm-cost selected-pool other-pools amount) err-overbuy))
755 : 5 : (marketfee-bips (get market-fee-bips md))
756 : 5 : (treasury (get treasury md))
757 : 5 : (fee (/ (* price marketfee-bips) u10000))
758 : 5 : (net-price (- price fee))
759 : 5 : (reduced-fee (/ fee u2))
760 : :
761 : : ;; Share balances
762 : 5 : (seller-balances (unwrap! (map-get? stake-balances {market-id: market-id, user: seller}) err-user-not-staked))
763 : 5 : (seller-shares (unwrap! (element-at? seller-balances outcome) err-user-not-staked))
764 : 5 : (buyer-balances (default-to (list u0 u0 u0 u0 u0 u0 u0 u0 u0 u0) (map-get? stake-balances {market-id: market-id, user: buyer})))
765 : 5 : (buyer-shares (unwrap! (element-at? buyer-balances outcome) err-category-not-found))
766 : : )
767 : : ;; dao extension callable only
768 : 5 : (try! (is-dao-or-extension))
769 : : ;; Ensure seller has enough shares
770 [ + ]: 5 : (asserts! (>= seller-shares amount) err-user-share-is-zero)
771 [ - ]: 4 : (asserts! (is-eq market-token (contract-of token)) err-invalid-token)
772 [ - ]: 4 : (asserts! (is-eq (get resolution-state md) RESOLUTION_OPEN) err-market-wrong-state)
773 : :
774 : : ;; Perform share transfer
775 : : ;; Note: we do not update `stakes` here because total pool liquidity remains unchanged.
776 : 4 : (let (
777 : 4 : (buyer-updated (unwrap! (replace-at? buyer-balances outcome (+ buyer-shares amount)) err-category-not-found))
778 : 4 : (seller-updated (unwrap! (replace-at? seller-balances outcome (- seller-shares amount)) err-category-not-found))
779 : : )
780 : : ;; Update state
781 : 4 : (map-set stake-balances {market-id: market-id, user: buyer} buyer-updated)
782 : 4 : (map-set stake-balances {market-id: market-id, user: seller} seller-updated)
783 : :
784 : : ;; Transfer cost and fee from buyer to seller
785 : 4 : (begin
786 : 4 : (if (> reduced-fee u0)
787 : : ;; buyer pays reduced fee as p2p incentive
788 [ - ]: 0 : (try! (contract-call? token transfer reduced-fee buyer treasury none))
789 [ + ]: 4 : true
790 : : )
791 : 4 : (try! (contract-call? token transfer net-price buyer seller none))
792 : : )
793 : 4 : (print {event: "transfer-shares", market-id: market-id, outcome: outcome, buyer: buyer, seller: seller, amount: amount, price: net-price, fee: fee })
794 : 4 : (ok price)
795 : : )
796 : : )
797 : : )
798 : :
799 : : ;; Helper function to create a list with zeros after index N
800 : 234 : (define-private (zero-after-n (original-list (list 10 uint)) (n uint))
801 : 348 : (let (
802 [ + - ]: 348 : (element-0 (if (<= u0 n) (unwrap-panic (element-at? original-list u0)) u0))
803 [ + + ]: 348 : (element-1 (if (< u1 n) (unwrap-panic (element-at? original-list u1)) u0))
804 [ + + ]: 348 : (element-2 (if (< u2 n) (unwrap-panic (element-at? original-list u2)) u0))
805 [ - + ]: 348 : (element-3 (if (< u3 n) (unwrap-panic (element-at? original-list u3)) u0))
806 [ - + ]: 348 : (element-4 (if (< u4 n) (unwrap-panic (element-at? original-list u4)) u0))
807 [ - + ]: 348 : (element-5 (if (< u5 n) (unwrap-panic (element-at? original-list u5)) u0))
808 [ - + ]: 348 : (element-6 (if (< u6 n) (unwrap-panic (element-at? original-list u6)) u0))
809 [ - + ]: 348 : (element-7 (if (< u7 n) (unwrap-panic (element-at? original-list u7)) u0))
810 [ - + ]: 348 : (element-8 (if (< u8 n) (unwrap-panic (element-at? original-list u8)) u0))
811 [ - + ]: 348 : (element-9 (if (< u9 n) (unwrap-panic (element-at? original-list u9)) u0))
812 : : )
813 : 348 : (list element-0 element-1 element-2 element-3 element-4 element-5 element-6 element-7 element-8 element-9)
814 : : )
815 : : )
816 : :
817 : 0 : (define-private (get-biggest-pool-index (lst (list 10 uint)))
818 : 0 : (get index
819 : 0 : (fold find-max-helper
820 : 0 : lst
821 : 0 : { max-val: u0, index: u0, current-index: u0 }))
822 : : )
823 : :
824 : 0 : (define-private (find-max-helper (val uint) (state { max-val: uint, index: uint, current-index: uint }))
825 : : {
826 [ - - ]: 0 : max-val: (if (> val (get max-val state)) val (get max-val state)),
827 [ - - ]: 0 : index: (if (> val (get max-val state)) (get current-index state) (get index state)),
828 : 0 : current-index: (+ (get current-index state) u1)
829 : : }
830 : : )
831 : :
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