Apart from the smart contracts powering the Gnosis framework that we’ve introduced last week, a crucial part of our Core will be a management interface for you to create, trade on, and maintain prediction markets.
We’ve been working hard on making the user experience as intuitive and simple as possible and are excited to share some of our first screens with you today! Most parts of the interface have already been implemented, and we’re hoping to launch it to the public within the next couple of weeks.
From the main dashboard, you’ll be able to deposit or withdraw funds, create your own prediction market, and stay on top of all active markets and your trading activity. To get an overview of your trading activity, the top section will display the balance of ETH tokens you’re currently holding, predicted profits from your investments as well as the number of markets you’ve already participated in.
Different cards will give you a preview of new and soon-closing markets along with their current outcome prediction so you’ll never miss a chance to participate.
A summary of your token holdings and trades from the markets you’ve participated in will show up in the bottom section.
The Markets page will provide you with an overview of all prediction markets as well as the option to create or resolve your own markets. From the sidebar, you can easily filter this preview by already resolved markets, markets you have created, markets you have traded in or markets which are closing soon.
You’re also able to filter by Oracle type used for the market (Centralized, Reality Keys, or Difficulty). Centralized Oracles allow you to resolve the market yourself; Reality Keys refers to an external Oracle provider; and Difficulty represents the block difficulty of the blockchain. Currently, only markets using a centralized Oracle can be resolved through the management interface.
If you’d like to look for a market by title, description, or by a specific resolution date, you’re able to do so through the designated data input forms. You can also resolve and withdraw the fees of your own markets directly from this view.
When clicking on a prediction market from the dashboard or market overview, you’ll be navigated to the market’s detail page. It includes a description of the prediction market and presents the probabilities of the different outcome options (for categorical events) or the currently estimated price (for scalar events).
You’ll find more detailed information about the market such as creator of the market, Oracle and token type, fee percentage, total funding, or current number of earnings in the sidebar.
From within this detail page, you’ll be able to participate in and manage your own prediction markets. You can buy shares or short sell in the market, navigate to your current holdings, as well as resolve, close, and withdraw fees for your own market. Depending on whether you’re predicting a categorical event or a scalar event, you’ll be able to trade outcome or short/long tokens (see this blog post for a detailed explanation on trading in prediction markets on categorical and scalar events).
A chart of the different outcome tokens (for categorical events) or short/long tokens (for scalar events) over a time period of a month, a week, or a day will be displayed in the bottom section.
Create a Market
The Create a market button on the dashboard, the market overview page, or the market’s detail page leads you to a market creation interface. Here, you’ll need to provide all necessary information about your prediction market: Event details such as Oracle type, the market’s title, description, resolution type, outcome type (categorical or scalar), outcome options (for categorical events) or lower and upper bound (for scalar events). The market details specify the currency in which your market should trade (ETH e.g.), the fee you’d like to deduct from the total earnings as well as the total funding you’d like to provide the market with.
Once you’ve reviewed the market creation details one last time, we’ll create your prediction market within two minutes max (with the next Metropolis update it’ll only take about 15 seconds!), and anyone can participate and predict the future 🔮
<div class="infobox"><span class="appendinfo">This article was originally published on: <a href="https://blog.gnosis.pm/" target="_blank">The Gnosis Blog</a> on </span></div>