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:
On Contract Safety:
  • There are two methods to stake in AlphaDex: (1) MetaMask ==[Stake]=> AlphaDex ==[Payoff]=> MetaMask. (2) Vault ==[Stake]=> AlphaDex ==[Payoff]=> Vault.
  • The stake-from-vault method saves gas, because the staked tokens stay in the contract (vault) until you withdraw them, however it will also be more risky if the contract has bug (very unlikely, but still possible).
  • The stake-from-metamask method is safe. Even if the contract has bug, the most you can lose are your stakes in a round.
Stake (loading...) to be bullish / bearish on (loading...)
a binary option market settled by smart contracts


Stake
? :




You have ? ? in MetaMask.    Get WETH on uniswap.    You win if you correctly predict the general direction of ? in the next (loading...).


↑ Simple UI
↓ Advanced UI & Collect payoffs
You are speculating on ?
Current price: ?
🟢 Current round One round = ?
Round
?
Start time
?
TWAP
?
 
Winner
?
 
🐂Bullish stakes
?
🐻Bearish stakes
?
If you are on the side with less stakes, or if you stake earlier, your odds is increased. Click for formulas (current factor_stake=?, factor_time=?).
🔵 Previous rounds

Commission = ? % (only charged on profits).
AlphaDex is a decentralized derivative market and liquidity aggregator. You are looking at its first function, similar to a binary option market settled by smart contracts.

There are always 3 rounds in a day: UTC 0:00~8:00, 8:00~16:00, 16:00~0:00. If [Sync] is not called at the desired start time, then the start time is delayed, however it won't affect the start time of next round.

For example, if [Sync] is called at UTC 1:15, then this round is UTC 1:15~8:00, and next round is still UTC 8:00~16:00.
🐂 Auto-staking vault #1 : BULLISH (stake ? % every round)
reading vault status...
receive stakes :  round X     round X     round X    
reading vault status...
If some of the stakes look hopeless, you can choose to not receive them, and that can save some gases.
🐻 Auto-staking vault #2 : BEARISH (stake ? % every round)
reading vault status...
receive stakes :  round X     round X     round X    
reading vault status...
If some of the stakes look hopeless, you can choose to not receive them, and that can save some gases.