Markets & resolution

A market is a single binary bet on a single Bags token over a fixed window.

Lifecycle

Active

trading + LP──────▶

Resolved

30-day redeem──────▶

└─ rare admin ──▶

Cancelled

refund flows enabled

A market is in exactly one of three states: Active, Resolved, or Cancelled. Once resolved, that's permanent.

Duration

Market duration is adaptive, picked from the token's 1-hour price action on DexScreener at the moment of creation:

15 min — hot mover (|Δ1h| > 25%), tight window so the bet resolves before the move dies down.
30 min — normal activity (5% ≤ |Δ1h| ≤ 25%).
60 min — stale (|Δ1h| < 5%), give it room to actually move.

The on-chain program accepts any duration between 5 minutes and 24 hours — the buckets above are what the scheduled auto-creator picks. Manually seeded markets currently default to 30 min.

Initial price

When a market is created, the oracle records the token's USD price from DexScreener and locks it on-chain as initial_price. There's no separate "lock phase" — trading starts immediately.

Resolution

At expiry, the oracle reads the live DexScreener price one more time and writes it on-chain as final_price. Then:

RUG wins if final_price ≤ 20% of initial_price (an 80%+ drop).
RUN wins otherwise.

Resolution is one-shot and idempotent — it can never be re-run, and there's no admin override.

In rare cases (e.g. the source token's pool is unrecoverable), an admin can call cancel_market. Existing positions and LP shares can then be refunded via cancel_redeem_* instructions, using prices snapshotted at the moment of cancel.

Status badges in the UI

You'll see one of these on every card: