✕
@ether_monk settled DOWN on a −25.3% week
OVERVIEW
The seven-day put on @ether_monk. Same machinery as the one-day markets, same median rule, a week of room instead of a day. This is the side that pays when a caller is down.
CAtegorized
−25.3%
PnL over the window
Seven days of total account PnL, measured from our own snapshots rather than requested from a window parameter.
3.97x
Paid to DOWN
The put was the unlikely side when the market opened, which is exactly why it paid what it did.
0
Paid to UP
A binary contract is worth 1 or nothing. There is no partial credit for being nearly right.
@ether_monk MEV-resistant swap architecture
Listed caller · fomo
A trader at −25% for the week is not a failure of the protocol. It is the outcome one side of every market is written to pay for.
@ether_monk
THE DETAILS
The question
Will @ether_monk be up over the next 7 days? The same yes-or-no question the one-day markets ask, with room to breathe. One side pays, and the horizon is the only thing that changed.
Both windows settle on the sign of the same number, which means the oracle only has to be right once for every market on the platform to be right.
How it settled
The strike was the median of the three snapshots nearest the open, a week earlier. The settlement was the median of the three nearest the close. Lower than the strike settles the put.
Nothing about the trader's book entered the calculation. A position repricing overnight moves total PnL and should, because that is the exposure being traded. A deposit does not move it at all.
Holders of DOWN redeemed at 1 USDG a share. Holders of UP were left with nothing, having paid for the cheaper side of a question they got wrong.
What it paid
Anybody who changed their mind mid-week did not have to wait. A position is worth whatever the market maker will pay for it at any moment, and selling early is a first-class path rather than an escape hatch.
