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Every market on Orica follows a defined lifecycle. Understanding these stages helps you trade effectively and know when to take action.

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Lifecycle Stages

Markets are resolved by a multi-agent AI system powered by Claude 4.5 Sonnet. The orchestrator spawns sub-AI workers for intelligent scraping, with specialized crawlers for JSON extraction, screenshots, and link discovery—all backed by Firecrawl. Human oversight is provided through the dispute mechanism.

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Stage Details

1

Open

The market is actively accepting trades.Duration: From creation until close_timeWhat you can do:
  • Buy shares of any outcome
  • Sell shares you own
  • View prices and market cap
What happens automatically:
  • Prices update based on supply/demand
  • Fees are collected on each trade
  • Position accounts are created as needed
2

Closed

Trading has ended. The event should have occurred.Duration: From close_time until AI resolutionWhat you can do:
  • View your positions
  • Wait for AI resolution
What happens automatically:
  • No new trades accepted
  • Auto-resolver daemon detects market closure
  • Primary orchestrator (Claude 4.5 Sonnet) begins agentic research loop
  • Sub-AI workers dispatch intelligent scrape agents to gather evidence
  • Specialized crawlers extract data via markdown, JSON schemas, or screenshots
  • Orchestrator synthesizes findings and submits resolution proof to IPFS
  • On-chain transaction records the outcome
3

Resolved

The AI has reported an outcome. Redemption may begin.Duration: Until all positions are redeemed (indefinite)What you can do:
  • Redeem winning shares for USDC
  • Initiate a dispute (if within window)
  • View resolution evidence
What happens automatically:
  • Winning outcome is recorded
  • Dispute window opens (if configured)
4

Disputed (Optional)

The resolution is being challenged.Duration: Until dispute is resolved or expiresWhat you can do:
  • Vote on the dispute
  • Post messages with evidence
  • Boost compelling arguments
What happens automatically:
  • Votes are tallied
  • Resolution may be overturned

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Status Determination

The API dynamically computes market status based on blockchain time:
Blockchain time is used for status computation, not server time. This ensures consistency across all clients.

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Time Considerations

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Close Time

  • Set at market creation
  • Cannot be modified
  • Should allow sufficient time for the event to occur

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Dispute Window

  • Opens immediately after resolution
  • Duration is configured by protocol parameters
  • Expires if threshold is not met

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Redemption

  • Available immediately after resolution (if no dispute)
  • Available after dispute resolution (if disputed)
  • No expiration—redeem whenever convenient

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Handling Edge Cases

If a market closes before the underlying event can be determined, resolvers should wait until the event occurs before submitting an outcome. There is no deadline for resolution.
If the event is cancelled or cannot occur, the market should be resolved as “Unresolvable” (outcome 255). All participants receive proportional refunds.
Resolution criteria should be unambiguous. If multiple interpretations exist, resolvers should use the most literal interpretation of the market question and resolution method.