Protocol Docs

PrysmMarket is an on-chain market protocol designed around market conditions rather than asset price direction alone. Price is the visible layer of a market; behind it sit volatility, funding pressure, liquidity, positioning and expectations. PrysmMarket turns measurable versions of those conditions into structured, defined-risk markets.

Every market has a named metric, a live data source, a threshold or set of ranges, a rolling expiry rule and a published settlement methodology. Participants choose an outcome and commit a defined amount. Maximum exposure is known at entry.

Three product families are defined in the current specification.

• VOL — markets on Deribit's DVOL index, the 30-day implied volatility of BTC or ETH, above or below a level at the weekly expiry.
• FUNDING — markets on perpetual funding conditions: the level of funding on Binance, the spread between Hyperliquid and Binance, or the persistence of a positive funding sign across windows.
• RANGE — markets that partition DVOL into predefined bands and settle on the band containing the reference value at expiry.

Reference values are fetched server-side from each venue's public API and cached for 60 seconds. No value shown on this site is hard-coded.

• Deribit — get_volatility_index_data, hourly DVOL closes for BTC and ETH over the last 72 hours.
• Binance USD-M Futures — premiumIndex (current funding, next settlement) and fundingRate (last 24 windows) for BTCUSDT and ETHUSDT.
• Hyperliquid — metaAndAssetCtxs (current hourly funding) and fundingHistory (48 hours). Hourly rates are multiplied by eight for an 8-hour equivalent.
• If a venue does not respond within 8 seconds, its markets show 'Feed unavailable' and are excluded from pricing. No fallback venue is substituted.

PrysmMarket has no order book yet, so outcome probabilities cannot be read from traded prices. Instead each outcome is priced with a simple diffusion model fitted to the metric's own recent history. Volatility indices use a lognormal random walk; funding rates and spreads, which can be negative, use a normal random walk.

The hourly standard deviation is estimated from the last 72 observations and scaled by the square root of hours to expiry. Probabilities are clamped to the 2–98% range and normalised across outcomes. They are estimates for orientation, not quotes, and are labelled 'model-implied' wherever they appear.

Markets use rolling expiry rules so the listed set never goes stale. Weekly markets expire on Friday at 08:00 UTC, matching the options-market convention behind DVOL. Funding markets expire at the next 8-hour settlement (00:00, 08:00 or 16:00 UTC); persistence markets span the next three settlements.

• LIVE — open, with the reference feed responding.
• SETTLING — expiry has passed; the reference value is being read and verified.
• SETTLED — the outcome is final and positions can be resolved.

Settlement uses the reference value of the named metric at the computed UTC expiry, exactly as the market definition describes. Where a metric combines venues, the formula is part of the definition and cannot change after launch.

If a data source is unavailable at expiry, settlement pauses under the declared fallback procedure rather than resolving on incomplete inputs.

Market data and wallet connection are live. Settlement contracts are not yet deployed: positions cannot be submitted, no funds can be committed, and no contract addresses are published. Wallet connection uses the browser's EIP-1193 provider and is read-only; the interface never requests a signature.

Defined risk means the maximum loss on a position is known when it is opened. It does not mean a position is low-risk. Committed capital may be fully lost once trading is enabled. Reference data may be delayed or revised. Model-implied probabilities are estimates. Once contracts exist, smart-contract risk applies. Nothing in this interface is financial advice.

$PRYM is the PrysmMarket network token, designed to coordinate participation across the ecosystem. Potential functions include governance, market incentives, protocol coordination and future staking or alignment mechanisms. Token parameters and contract details are not yet published. $PRYM does not represent a claim on revenue or a promise of returns.