How it works
How prices move and payouts are set.
No dealers, no discretion: one published step per tick, and payouts calculated from a formula you can check.
The short version
Prices come from a published method
Each index moves one step per tick, driven by a secret seed locked in before trading starts.
Payouts are set by a formula
Every payout is calculated from the true win probability and a disclosed house edge.
Anyone can check it
Once a seed is revealed, any past price can be recomputed and compared, in your browser.
The full detail
For the technically curious: the exact steps behind every price and payout.
Committed before use
The seed stays secret until the epoch closes. The commitment is public from the first tick, so a seed cannot be chosen to fit a price path that already happened.
commitment = SHA-256(server_seed), published at epoch start
The per-tick draw
The digest depends only on the seed, the instrument, and the tick index, never on who is asking or what they have staked.
digest = HMAC-SHA256(seed, "tick:{instrument}:{index}")
u = int(first 13 hex chars of digest, base 16) ⁄ 2⁵²
The price step
The −σ²/2 term is the Itô correction. Without it the process drifts upward on average, breaking the martingale property every multiplier assumes.
ln S(n+1) = ln S(n) + σ_tick · Z(n) − σ_tick² ⁄ 2
True win probability
Not 0.5. The gap from 0.5 widens with duration T, so each side is priced against its own true probability rather than a flat guess.
p(Rise) = Φ(−σ√T⁄2) p(Fall) = Φ(+σ√T⁄2)
The payout multiplier
A zero-edge multiplier would be exactly 1/p. h is the disclosed house edge, it changes the multiplier and nothing else about how a contract prices or settles.
m = (1 − h) ⁄ p
A worked example, computed live.
The actual figures the pricing engine returns for Volatility 10 Index at a 60-tick duration:
| Side | True p | Edge h | Multiplier m |
|---|---|---|---|
| Rise | 0.499972 | 0.0500 | 1.90× |
| Fall | 0.500028 | 0.0500 | 1.89× |
Expected value, every contract
−5.00%
Because m < 1/p whenever h > 0, expected value is negative by exactly h on every contract, a property of the formula, not of any outcome.