Oracle & Fixing
Price Feeds and Settlement for SuperVol options
Price feed from Pyth
SuperVol uses Pyth, a pull-based oracle for crypto market data, for the fair calculation of options.
Pyth Price Feeds are used for the Start Price and End Price of each rounds.
SuperVol binary options contract references the Pyth prices to determine user's trade results.
Round Fixing & Settlement
1 Hour Option
Due to complexities in round fixing (including blockchain latency, market fluctuations, smart contract risk), orders with less than 1 minute left before expiry have a high risk of failure. It is recommended that users place orders with enough time remaining.
The price of each coin/token at 00 minutes @ every hour will be used for the fixings of SuperVol's 1 Hour options.
More precisely, SuperVol listens to the Pyth price of HH:00:00 at HH:00:10 every hour.
By structure, the End Price of Round 'N' will be used for the Start Price of Round 'N+1'. Failure in Pyth price retrieval leads to an error in both ending one round and starting a new one.
Due to various reasons (i.e. delay/shutdown of Pyth, Ethereum or L2 network), SuperVol may fail to retrieve fixing prices.
For example, SuperVol fails to fetch the End Price for Round 'N'
SuperVol will retry every 2 minutes (ex. HH:02:10 / HH:04:10/ ...)
Until Round 'N' is fixed, the opening of Round 'N+1' will be delayed (No Start Price).
If the issue persists for 60 minutes, Round 'N+1' will be cancelled.
Afterwards, SuperVol will search the Start Price for Round 'N+2' and if successful, trading will be functional from Round 'N+2'
Regardless of the operation of other rounds, SuperVol will attempt fixing of Round 'N' for a maximum of 24 hours (=Max. 720 attempts)
If fixing fails even after 24 hours, all participation amount in Round 'N' will be paid back to the participants.
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