Hedgehog Markets: A User Guide (Devnet)
Hello Hedgehogs 🦔!
Here is a user guide for our Devnet Platform. It covers:
- Hedgehog.Markets
- Understanding Market Information
- Pick a Market and Make a Trade
- Adding & Removing Liquidity
- Understanding Your Hedgehog Portfolio
If you need any help, or have any ideas or suggestions, you can always find us in Discord! :) Join us and 12,500+ awesome community members here → https://discord.com/invite/prBc7teqKC
Step 1: Go to Hedgehog.Markets
This will bring you to our home page, where we display all markets that are currently available to trade. You can browse each of the markets to learn more about them and click into them for more information.
We also recommend you connect your Solana wallet when you arrive. You can select Sollet or Solong, and you will be prompted with a request to approve the connection. Once you approve, your wallet will be connected.
Make sure you have Devnet SOL in addition to your sHOG! Devnet SOL will help process your transactions, and sHOG is what you will transact with on our closed beta platform. For more information on Devnet SOL and sHOG, please check out this article. Beta sign-ups closed on April 14th, 2021.
Step 2: Understanding Market Information
Market Information
- MARKET ENDS ON — date that the market will close
- TRADE VOLUME — total volume of Yes and No shares traded
- LIQUIDITY — total volume of sHOG stablecoins in the market’s Liquidity Pool (LP)
- YES — the current price of 1 Yes share
- NO — the current price of 1 No share
User’s Holdings
- Shares: YES — in your portfolio, the number of YES shares and the value of those shares
- Shares: NO — in your portfolio, the number of NO shares and the value of those shares
- LP Shares — if you add liquidity, you’ll see the number of LP shares you receive in exchange for the sHOG you added to the LP
- Collateral — the amount of sHOG in your wallet
Unless a market is tagged as “CLOSED” or “RESOLVED,” it is available to trade!
Step 3: Pick a Market and Make a Trade
Once you’ve decided on a market to trade, click into it. YES or NO shares will resolve to $1.00, depending on which outcome is correct according to the resolution source, on the resolution date.
You can input how many sHOG worth of shares you’d like to buy. Play around with inputting different amounts and watch as the metrics of your trade respond dynamically.
Once you feel comfortable with the amount of Yes or No shares you will receive, press “SEND ORDER” and your wallet will prompt you to Approve the transaction.
Once you press “APPROVE”, wait a few seconds and you will see this popup.
Step 4: Adding & Removing Liquidity
Liquidity providers provide liquidity to the market, which enables traders to trade Yes and No shares. On Mainnet, liquidity providers will be rewarded with fees from users’ trades! We hope to provide liquidity providers as well as traders with a superior experience that benefits user growth and the ecosystem. On Devnet, we will monitor the liquidity levels for each market and ensure there is just enough for users to trade actively.
To add liquidity, click on the “Add Liquidity” button on a market trade page. A modal will display, and you can enter the amount of sHOG you’d like to add to the market. When you are ready, click “Add Liquidity” and Approve the transaction in your Solana wallet. This will give you an amount of LP shares in exchange for the amount of sHOG you added to the LP.
To remove liquidity, click on the “Remove Liquidity” button on a market trade page. A modal will display, and you can enter the amount of LP shares you’d like to remove from the market. If you are unsure of how many LP shares you have, you can click “Max” which will display your total number of LP shares.
When you are ready, click “Remove Liquidity” and Approve the transaction in your Solana wallet. Note* this will give you amounts of Yes and No shares according to the current odds of that market. It will not withdraw in sHOG.
Step 5: Understanding Your Hedgehog Portfolio
When you click on “Portfolio” in the Menu, you will see a summary of your holdings.
- PORTFOLIO VALUE — the sum of your Open Positions and your Cash (sHOG)
- OPEN POSITIONS — the sum of your Yes and No shares across all markets you have traded
- CASH — this is your sHOG balance
You will see you Yes and No shares each as their own position.
- OUTCOME — this is the outcome share you hold (Yes or No)
- PRICE AVG | CUR. — this is the average price you paid for the shares, and CUR is the Current price of the shares
- P/L: $ | % — this displays any P&L from your trade in $USD equivalent and % ROI
- QTY — this is the number of shares you have in that position
- CURRENT VALUE — this is the current value of your position
You will see every market to which you have provided liquidity.
- LIQUIDITY SHARES — how many LP shares you received in exchange for your sHOG
- SHARES VALUE — what your LP shares are currently worth
About Hedgehog Markets
The mission of Hedgehog Markets is to provide direct, veritable, and open access to the wisdom of crowds. Hedgehog Markets was founded by George Yu, a former Google and Oscar Health engineer. Interested in exploring ways to better predict future events, and noticing a lack of user-friendly ways to do so, building a decentralized prediction markets platform became a natural extension of that interest. Hedgehog Markets was built alongside e^{i} Ventures (EIV), a venture studio focused on DeFi and decentralized applications. Learn more about Hedgehog at https://hedgehog.markets and on Medium.
For press inquiries, please reach out to media@hedgehog.markets
Disclaimer:
The information provided in this Medium Post pertaining to Hedgehog Markets (“Hedgehog”), its crytpo-assets, business assets, strategy, and operations, is for general informational purposes only and is not a formal offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction and its content is not prescribed by securities laws. Information contained in this Medium Post should not be relied upon as advice to buy or sell or hold such securities or as an offer to sell such securities. This Medium Post does not take into account nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. Hedgehog and its agents, advisors, directors, officers, employees and shareholders make no representation or warranties, expressed or implied, as to the accuracy of such information and Hedgehog expressly disclaims any and all liability that may be based on such information or errors or omissions thereof.
Hedgehog reserves the right to amend or replace the information contained herein, in part or entirely, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof.
The information contained in this Medium Post supersedes any prior Medium Post or conversation concerning the same, similar or related information. Any information, representations or statements not contained herein shall not be relied upon for any purpose.
Neither Hedgehog nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this Medium Post by you or any of your representatives or for omissions from the information in this Medium Post. Additionally, Hedgehog undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed in this Medium Post.
