Bet Issuers and Takers
Logium matches users with contradictory price predictions. For example, users who think ETH/USDC will go up are matched with those who think ETH/USDC will go down.
On our platform, a bet issuer announces their price prediction without having a match at first. This price prediction becomes an awaiting bet that is added to the Available Bets list, where it waits for a match.
Please remember that in the Logium UI all bets are displayed from your perspective. When you create an “Up” bet, others see it as a “Down” bet in the Available Bets list.
What are Available bets?
A bet taker picks one of the awaiting bets from the Available Bets list and executes a blockchain transaction which makes the bet a reality.
Issuers are always betting against takers. If an issuer creates a bet assuming ETH/USDC will go up, the system can only match it with a taker that thinks ETH/USDC will go down, and vice versa.
Sometimes awaiting bets do not find any takers. Such bets eventually expire and the issuer's collateral is not used.