AlphaDex is a decentralized derivative market and liquidity aggregator. You are looking at its first function, which is similar to a binary option market settled by smart contracts.

The usage of AlphaDex is simple: There are more details in AlphaDex, including "TWAP" and "x+2 vs x+1" stuffs. They are to make sure the process is fair and prevent hackers. You can safely ignore them.
But if you are interested in the details, then this explanation is for you.

On Staking:
  • If you stake in round x, you are speculating on the TWAP of round x+2 vs the TWAP of round x+1. (TWAP means time-weighted average price).
  • The delay is to prevent price manipulations and flash loan attacks.
  • If you stake in round x, you can call [Payoff] after round x+2 ends (that is, after round x+3 begins). There'll be [Payoff] buttons in the table besides your stakes.

For example, assume current round is 09:20 ~ 09:30. In this round, you put your stakes on the difference of:
1. the TWAP between [the last trade before 09:30] and [the last trade before 09:40].
2. the TWAP between [the last trade before 09:40] and [the last trade before 09:50].
If you think 2 > 1, you are 🐂bullish. If you think 1 > 2, you are 🐻bearish. If 1 = 2, then everyone gets their stakes back.

From the chart, we can see this is similar to [price at 9:50] compared with [price at 9:30]. Please read this essay and this essay to understand why.

On Payoff: AlphaDex introduces the concept of paired stakes, to limit the risk exposure when there is bull-bear imbalance in stakes.
For example: On Sync:
Stake (loading...) to be bullish / bearish on (loading...)
You win if you can predict the trend of ? in the next (loading...)
if win: +? %       if lose: -? %
Current bullish stakes ? ETH

? :

Current bearish stakes ? ETH
if win: +? %       if lose: -? %

↑  Manual staking
TVL = (loading...) ETH
↓  Payoff & Auto-staking vaults

🟢 Current round
Start time
🐂Bullish stakes
🐻Bearish stakes
If you are on the side with less stakes, or stake earlier, your odds is increased. Click for formulas (current factor-stake=?, factor-time=?).
🔵 Previous rounds One round = ?

Commission = ? % (only charged on profits).    Accumulated ? ETH (for $DEX buybacks).
The prices of all vaults will eventually grow over time, because of factor-time and how vaults estimate entry prices.
PROTIP: Enter vault when all its stakes are winning, for better entry prices.
reading vault status...
reading vault status...
receive stakes :  round X     round X     round X    
If some of the stakes look hopeless, you can choose to not receive them, and that can save some gases.