Markets

A Market in Orica represents a question about a future event. Each market has a set of possible outcomes, a close time, and an on-chain state that tracks liquidity, trading activity, and resolution status.

Markets are validated by Claude 4.5 Sonnet to ensure questions are resolvable, unambiguous, and have clear resolution criteria.

Market Structure

Every market is an on-chain Solana account with the following key properties:

Field	Type	Description
`address`	`string`	The on-chain public key of the market account
`question`	`string`	The question being asked
`options`	`string[]`	List of possible outcomes
`creator`	`string`	Wallet address of the market creator
`created_at`	`number`	Unix timestamp of creation
`close_time`	`number`	Unix timestamp when trading ends
`status`	`string`	Current status: `open`, `closed`, `resolved`, `disputed`
`outcome_pools`	`number[]`	USDC liquidity in each outcome’s pool
`outcome_supplies`	`number[]`	Number of shares minted for each outcome
`total_volume`	`number`	Total USDC volume traded
`trade_count`	`number`	Number of trades executed

Market Lifecycle

Open

The market is active. Users can buy and sell shares of any outcome.

Trading is enabled
Prices fluctuate based on supply/demand
close_time is in the future

Closed

The close_time has passed. Trading is halted, and the market awaits AI resolution.

No new trades allowed
Positions are locked
Claude 4.5 Sonnet analyzes the outcome

Resolved

The AI has reported an outcome. A dispute window may be active.

Winning outcome is set by Claude 4.5 Sonnet
Redemption is enabled (after dispute window)
Losing shares become worthless

Disputed

The resolution has been challenged. Weighted voting determines the final outcome.

Trading remains disabled
Stakeholders vote on correct outcome
Resolution may be overturned

Market Metadata

In addition to on-chain data, markets have off-chain metadata stored on IPFS. This includes:

{
  "question": "Will Bitcoin hit $100k by 2025?",
  "options": ["Yes", "No"],
  "resolution_method": "CoinGecko daily close price at 00:00 UTC on Dec 31, 2025",
  "close_date": 1735689600,
  "reasoning": "Standard market rules apply. Price must reach $100,000.00 exactly.",
  "image_url": "https://ipfs.io/ipfs/Qm...",
  "creator": "Host",
  "created_at": 1704067200
}

Metadata Fields

Field	Description
`question`	The full question text
`options`	Human-readable outcome names
`resolution_method`	How the outcome will be determined
`close_date`	When trading ends (Unix timestamp)
`reasoning`	Additional context or rules
`image_url`	Optional market image (IPFS gateway URL)
`creator`	Display name or identifier of the creator
`created_at`	When metadata was created

Fetching Markets

REST API
SDK

curl "https://api.orica.markets/markets?limit=50&offset=0"

Response:

[
  {
    "address": "ABC123...",
    "question": "Will ETH flip BTC by 2026?",
    "options": ["Yes", "No"],
    "status": "open",
    "outcome_pools": [1500000000, 2000000000],
    "outcome_supplies": [15000, 20000],
    "total_volume": 35000.50,
    "trade_count": 142,
    ...
  }
]

// Fetch all markets (on-chain only)
const markets = await sdk.orica.fetchAllMarkets();

// Fetch with IPFS metadata
const marketsWithMeta = await sdk.orica.fetchAllMarkets({
  includeMetadata: true,
  metadataTimeout: 10000,
});

// Fetch single market
const market = await sdk.orica.fetchMarketWithMetadata(
  new PublicKey("..."),
  { includeMetadata: true }
);

Market Status Computation

The API dynamically computes market status based on the current blockchain time:

If status is open but close_time has passed, the API returns closed
resolved and disputed statuses are stored on-chain and returned as-is

The blockchain time is fetched from Solana’s slot time, not the server’s system clock. This ensures consistent status across all clients.

Getting Started

Core Concepts

Resolution

Technical Architecture

Market Structure

Market Lifecycle

Market Metadata

Fetching Markets

Market Status Computation

Next Steps

Trading

Bonding Curve

​Market Structure

​Market Lifecycle

​Market Metadata

​Fetching Markets

​Market Status Computation

​Next Steps

Trading

Bonding Curve

Market Structure

Market Lifecycle

Market Metadata

Fetching Markets

Market Status Computation

Next Steps