Rulebook v1.0

Platform Rules

Complete rulebook covering all aspects of Parli prediction markets. Clear, transparent guidelines for fair play.

Scope & Overview

Parli operates prediction markets on Solana, focusing on cryptocurrency price movements. Users can create parlays by combining multiple market outcomes for boosted payouts.

Key Principle: All markets are settled via on-chain price oracles with transparent, automated resolution.

Platform Features:

Crypto price prediction markets (Yes/No, Over/Under, Range)
Parlay creation with independence boost multipliers
Oracle-based settlement via Pyth Network
Non-custodial USDC staking
Community features (leaderboards, mirroring)

Market Types

Yes/NoBinary Outcomes

Simple binary markets asking whether an asset will reach a specific price by a deadline.

Example: "SOL > $220 by Fri 23:59 UTC"
Settles "Yes" if SOL price ≥ $220.00 at settlement time, "No" otherwise.

Over/UnderThreshold Markets

Markets with a specific price threshold, offering Over or Under positions.

Example: "AVAX Over/Under $45.00"
"Over" wins if AVAX ≥ $45.00, "Under" wins if AVAX < $45.00 at settlement.

RangePrice Ranges

Markets asking whether an asset will trade within a specific price range.

Example: "ETH Trading Range $3200-$3600"
Wins if ETH price is between $3200.00 and $3600.00 (inclusive) at settlement.

Data & Settlement

Oracle Source: All price data sourced from Pyth Network on-chain price feeds for maximum transparency and reliability.

Settlement Process:

Markets automatically lock 2 hours before settlement time
At settlement time, Pyth Network price feed is queried on-chain
Market outcome is determined based on the oracle price
Winning positions are automatically paid out
Settlement is final and cannot be disputed

Settlement Examples:

Market: "BTC > $95k by Sun 23:59 UTC"
Oracle Price at Settlement: $95,247.83
Result: "Yes" positions win (price ≥ $95,000)

Oracle Delays: In rare cases of oracle downtime, settlement may be delayed until reliable price data is available. Stakes remain locked during delays.

Eligibility & Voids

Market Eligibility:

Markets must have reliable Pyth Network price feeds
Minimum 2-hour lock period before settlement
Settlement time must be clearly defined (UTC timezone)
Price thresholds must be specific to 2 decimal places

Void Conditions:

Oracle Failure: If Pyth Network price feed is unavailable for more than 24 hours past settlement time, the market is voided and stakes returned.

Technical Issues: Smart contract failures or platform-wide technical issues may result in market voids at admin discretion.

Extreme Events: Market manipulation, exchange halts, or other extreme circumstances may trigger void conditions.

Parlay Voids: If one leg of a parlay is voided, the parlay recalculates without that leg. If all legs are voided, the entire stake is returned.

Correlation Guardrails

To maintain fair odds and prevent exploitation, Parli implements correlation guardrails that limit highly correlated market combinations.

Current Limits:

Maximum 1 leg per underlying asset per day
Maximum 2 crypto legs total per parlay
No same-day opposing positions (e.g., BTC > $95k AND BTC < $90k)

Boost Reduction:

Highly correlated legs receive reduced independence boost. The system automatically detects correlation and adjusts multipliers accordingly.

Violation Handling: Parlays violating correlation rules are automatically rejected. Users must remove conflicting legs before confirmation.

Limits & Payouts

Stake Limits:

Minimum stake: $1 USDC
Maximum stake: $10,000 USDC
Daily limit: $25,000 USDC

Payout Limits:

Maximum payout: $10,000 USDC
Payout cap applies per parlay
Excess stake refunded if cap hit

Independence Boost Calculation:

Base Formula: 1 + (number_of_legs - 1) × 0.05

2 legs: 1.05x boost (5% increase)

3 legs: 1.10x boost (10% increase)

4 legs: 1.15x boost (15% increase)

Boost is reduced or eliminated for correlated legs as determined by the correlation engine.

Payout Protection: Max payout caps protect market integrity during high volatility. Caps are clearly displayed before parlay confirmation.

Fees & Incentives

Platform Fees:

2% fee on gross winnings
No fees on losing bets
No deposit/withdrawal fees
Gas fees paid by user

Fee Examples:

Stake: $100, Win: $300

Gross Payout: $300

Platform Fee: $6 (2%)

Net Payout: $294

Coming Soon - Creator Incentives:

Revenue sharing for popular parlay creators
Leaderboard rewards for top performers
Referral bonuses for community growth
Reduced fees for high-volume users

Cash-Out

Coming Soon: Cash-out functionality is currently in development and will be available in a future update.

Planned Cash-Out Features:

Early settlement before market expiry
Dynamic pricing based on current market conditions
Partial cash-out options
Real-time cash-out value display

How It Will Work:

Cash-out values will be calculated using real-time odds and time remaining. Users can secure profits or minimize losses before settlement. Cash-out will be subject to the same 2% platform fee.

Disputes

Oracle-Based Settlement: Since all markets settle via on-chain price oracles, there are no subjective decisions to dispute. Settlement is automatic and final.

Limited Dispute Scenarios:

Technical errors in smart contract execution
Oracle manipulation or data corruption
Platform-wide system failures

Dispute Process:

Submit dispute via support ticket within 48 hours
Provide detailed evidence of technical error
Platform team reviews on-chain data
Resolution communicated within 7 days
Remediation applied if error confirmed

Important: Disputes based on disagreement with oracle prices or market outcomes will not be accepted. Users are responsible for understanding market terms before participation.

Compliance

Age & Regional Restrictions:

Must be 18+ years old to participate
Service not available in restricted jurisdictions
Practice Mode available for restricted regions
KYC may be required for large transactions

Responsible Gaming:

Self-imposed daily stake limits
Cooling-off periods available
Loss limit notifications
Problem gambling resources provided

Risk Warning: Prediction markets involve significant risk. Only stake what you can afford to lose. Past performance does not guarantee future results.

Glossary

Parlay: A combination of multiple market predictions in a single bet, requiring all legs to win for payout.

Leg: An individual market prediction within a parlay.

Oracle: On-chain price feed providing settlement data (Pyth Network).

Settlement: The process of determining market outcomes and distributing payouts.

Boost: Multiplier applied to parlay odds based on leg independence.

Void: A cancelled market where stakes are returned due to technical issues.

Lock Time: Period before settlement when no new bets are accepted.

Correlation: Statistical relationship between different market outcomes.

Stake: The amount of USDC wagered on a parlay.

Mirror: Copying another user's parlay with your own stake amount.