Sorites
Existing speculation markets rely on external inputs to resolve their Market Events. We are creating a safe, decentralized fully on-chain and open source solution!
Project Description
The core of Sorites are Market Events. For example, “Ethereum’s price will be below $4000 in Anyone can create one, and anyone can speculate Yes or No by buying ERC1155 Yes or No tokens for that event. This is different from Prediction Markets in the way that it works with any chain driven event.
How it's Made
The Sorites contract stores USDC, Market Events and all their associated Yes and No tokens - which are ERC1155 tokens. That means you can trade them outside of Sorites.
Each type of Market Event has its own resolver, what we call a Futures Provider. At the moment, there’s only the Price Futures Provider that tells us whether or not a token’s price reached a certain number.
When the event resolves, the Futures Provider determines the outcome securely. The whole process is non custodial, relying on on-chain contracts. This guarantees that your assets are safe - not even the contract owner can take them.
