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Merge pull request #276 from Azuro-protocol/main
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fix links from main
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Avvrik authored Oct 28, 2024
2 parents 3743bfc + 6a4d448 commit 476a890
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2 changes: 1 addition & 1 deletion pages/_meta.json
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"title": "Tutorial",
"type": "page"
},
"concepts": {
"knowledge-hub": {
"title": "Knowledge Hub",
"type": "page"
},
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{
"the-azuro-vision": {
"mission-and-vision": {
"title": "Mission & Vision"
},
"foreword": {
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Expand Up @@ -18,7 +18,7 @@ Community Airdrop 1 comes in 2 snapshots:
- \$AZUR pool 5 of **738,000** tokens distributed to 738 addresses (1,000 each) which held testnet NFTs.
- In total 50% of tokens are unlocked at TGE, 50% are vested linearly over 183 days, block by block.
- all tokens up to 1,000 are fully unlocked. This means 43,459 addresses receive more than 50% unlocked tokens. To balance this the 2,207 top receiving addresses receive 45% unlocked and 55% vested.
- Azuro Score holders who have received their score via the [Polygon and GnosisChain drops](/concepts/azuro-score/drops) but have never interacted with the Azuro Protocol on mainnet have been excluded.
- Azuro Score holders who have received their score via the [Polygon and GnosisChain drops](/knowledge-hub/azuro-score/drops) but have never interacted with the Azuro Protocol on mainnet have been excluded.

---

Expand All @@ -38,4 +38,4 @@ Please find the distribution list for Snapshot 2, containing the addresses with

---

Read more about Community Airdrop 2: the [Azuro Waves](/concepts/azuro-waves)
Read more about Community Airdrop 2: the [Azuro Waves](/knowledge-hub/azuro-waves)
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Expand Up @@ -30,7 +30,7 @@ $$
- Example: a user makes a bet of $10 at odds of 3 (European odds used for the example). Points are calculated like this: **10 * 3 * 5 = 150 points**
- All bets count. For combo bets - the final odds of the combo are used for the multiplier.
- The max odds mutiplier is 10. I.e. if the odds of the bet or combo are above 10, then they are counted as 10 for the Azuro Score multiplier.
- For previous settings check [here](https://gem.azuro.org/concepts/azuro-score/historical-data).
- For previous settings check [here](https://gem.azuro.org/knowledge-hub/azuro-score/historical-data).
</Callout>

### Change effective since Nov 10, 2023:
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Expand Up @@ -8,7 +8,7 @@ import { PageHeadline, Callout, Button, Formula } from 'components'

<Callout type="feature">
$AZUR token is launched. The Azuro Score program has ended. No new points will be awarded in Azuro Score from June 26th onwards.
Data endpoints will remain accessible until July 1st. The Azuro Score program is being replaced by the new [Azuro Waves program](/concepts/airdrops/azuro-waves/overview)
Data endpoints will remain accessible until July 1st. The Azuro Score program is being replaced by the new [Azuro Waves program](/knowledge-hub/airdrops/azuro-waves/overview)
</Callout>


Expand All @@ -30,7 +30,7 @@ $$
- Example: a user makes a bet of $10 at odds of 3 (European odds used for the example). Points are calculated like this: **10 * 3 * 5 = 150 points**
- All bets count. For combo bets - the final odds of the combo are used for the multiplier.
- The max odds mutiplier is 10. I.e. if the odds of the bet or combo are above 10, then they are counted as 10 for the Azuro Score multiplier.
- For previous settings check [here](/concepts/airdrops/azuro-score/historical-settings).
- For previous settings check [here](/knowledge-hub/airdrops/azuro-score/historical-settings).
</Callout>

<Button
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Expand Up @@ -12,4 +12,4 @@ Also referred to as “Community Airdrop 2”
- The Waves program introduces “Levels” which give point multipliers. This means that all points earned by the eligible activities (which will be 100% transparent), will be multiplied by the level in the Wave which you have.
- Conditions for next waves may change but changes will never be retroactive. There will always be clarity about how points work and how $AZUR will be distributed from the beginning of each Wave.

**For information about Wave 1, go to [Wave 1](/concepts/airdrops/azuro-waves/wave1)**
**For information about Wave 1, go to [Wave 1](/knowledge-hub/airdrops/azuro-waves/wave1)**
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{
"overview": "Tokenomics",
"tokenomics": "Tokenomics",
"redacted": "[redacted]",
"azuro-dao": "AzuroDAO"
}
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"tl-dr": "TL;DR",
"liquidity-tree": "LiquidityTree",
"protocol-actors": "Protocol Actors",
"rewards": "Rewards Distribution",
"reward-distribution": "Rewards Distribution",
"components": "Components"
}
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# Betting Engines

A Betting Engine is a collective term for contracts that encompass the logic of creating [Conditions](/concepts/how-azuro-works/components/conditions),
accepting bets, computing payouts for bets, and calculating [app rewards](/concepts/how-azuro-works/rewards).
A Betting Engine is a collective term for contracts that encompass the logic of creating [Conditions](/knowledge-hub/how-azuro-works/components/conditions),
accepting bets, computing payouts for bets, and calculating [app rewards](/knowledge-hub/how-azuro-works/rewards).

These contracts are plugged into the [Pool](/concepts/how-azuro-works/components/pools) by its owner via the [Factory](/contracts/factory),
These contracts are plugged into the [Pool](/knowledge-hub/how-azuro-works/components/pools) by its owner via the [Factory](/contracts/factory),
and access to place bets and withdraw payouts is only granted through the [LP](/contracts/lp) contract for which it was deployed.

A Betting Engine can inherit the [CoreBase](/contracts/core-base) contract that contains the fundamental logic to facilitate the betting
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# Conditions

In the design of the Azuro protocol, each market presented on a [Pool](/concepts/how-azuro-works/components/pools) is called a Condition.
In the design of the Azuro protocol, each market presented on a [Pool](/knowledge-hub/how-azuro-works/components/pools) is called a Condition.

Conditions are managed by [data providers](/concepts/how-azuro-works/protocol-actors/data-providers) and contain information about the
Conditions are managed by [data providers](/knowledge-hub/how-azuro-works/protocol-actors/data-providers) and contain information about the
game it is associated with, reinforcement, margin and bets, funds, odds, and potential
payouts for each outcome.

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Expand Up @@ -6,16 +6,16 @@ import { PageHeadline, Formula } from 'components'
/>

Odds represent the probability of a particular outcome in a Condition actually happening. The odds for each outcome of
a [Condition](/concepts/how-azuro-works/components/conditions) are determined as the ratio of the total Condition funds to the funds of
a [Condition](/knowledge-hub/how-azuro-works/components/conditions) are determined as the ratio of the total Condition funds to the funds of
that particular outcome.

The higher the odds, the lower the chances of the outcome happening and the higher the potential payout for the player
who placed a bet on that outcome. Betting odds are used by the [Pool](/concepts/protocol/pools) to manage the risk and
who placed a bet on that outcome. Betting odds are used by the [Pool](/knowledge-hub/protocol/pools) to manage the risk and
set payout rates for different bets.

The calculation of the odds is based on the [Virtual Funds](/concepts/how-azuro-works/components/virtual-funds) of the Condition and its margin.
The calculation of the odds is based on the [Virtual Funds](/knowledge-hub/how-azuro-works/components/virtual-funds) of the Condition and its margin.
Once the Condition is created, initial reinforcement is distributed proportionally among the outcome Virtual Funds based
on their initial odds provided by the [data provider](/concepts/how-azuro-works/protocol-actors/data-providers). When a bettor places a bet,
on their initial odds provided by the [data provider](/knowledge-hub/how-azuro-works/protocol-actors/data-providers). When a bettor places a bet,
the outcome Virtual Fund on which they bet increases by the amount of the bet, and the net odds are calculated using
the following formula:

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Expand Up @@ -7,6 +7,6 @@ Each Pool includes the [LP](/contracts/lp) contract, which serves as the main en
responsible for managing the Pool's liquidity, and the [Access](/contracts/access) contract, which enables the Pool's
owner to have easy access control over functions of the Pool's contracts.

The Pool owner can plug in an unlimited number of [Betting Engines](/concepts/how-azuro-works/components/betting-engines) that encompass
the logic of creating [Conditions](/concepts/how-azuro-works/components/conditions), accepting bets, computing payouts for bets, and
calculating [app rewards](/concepts/how-azuro-works/rewards).
The Pool owner can plug in an unlimited number of [Betting Engines](/knowledge-hub/how-azuro-works/components/betting-engines) that encompass
the logic of creating [Conditions](/knowledge-hub/how-azuro-works/components/conditions), accepting bets, computing payouts for bets, and
calculating [app rewards](/knowledge-hub/how-azuro-works/rewards).
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# Reinforcement

Reinforcement is the initial liquidity amount that is distributed among outcomes of a [Condition](/concepts/how-azuro-works/components/conditions)
Reinforcement is the initial liquidity amount that is distributed among outcomes of a [Condition](/knowledge-hub/how-azuro-works/components/conditions)
in accordance with the betting odds. It is set at the time of Condition creation and cannot be changed later.

It is used to ensure potential payouts for bets where the funds received from other bets on the Condition are insufficient.
Therefore, the reinforcement value also represents the maximum potential loss that the [Pool](/concepts/how-azuro-works/components/pools)
Therefore, the reinforcement value also represents the maximum potential loss that the [Pool](/knowledge-hub/how-azuro-works/components/pools)
can incur due to the Condition.
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Expand Up @@ -6,9 +6,9 @@ import { PageHeadline, Formula } from 'components'
/>

In CoreBase-based smart contracts, the probability of each outcome within a
[Condition](/concepts/protocol/conditions) is stored in the form of Virtual Funds of outcomes.
[Condition](/knowledge-hub/protocol/conditions) is stored in the form of Virtual Funds of outcomes.
The greater the value of the Virtual Fund of the outcome relative to the Virtual Funds of other outcomes,
the higher the perceived probability of that outcome, and consequently, the lower the [odds](/concepts/protocol/odds)
the higher the perceived probability of that outcome, and consequently, the lower the [odds](/knowledge-hub/protocol/odds)
for that particular outcome:

<Formula>
Expand All @@ -17,7 +17,7 @@ o_{i}=\frac{F_{0} + ... + F_{n}} {F_{i}},\text{where } F_i \text{ is a Virtual F
$$
</Formula>

When creating or modifying the odds of outcomes by the [Data Provider](/concepts/basic/data-providers), the total
When creating or modifying the odds of outcomes by the [Data Provider](/knowledge-hub/basic/data-providers), the total
volume of Virtual Funds for all outcomes within the Condition is calculated using the following formula:

<Formula>
Expand All @@ -36,7 +36,7 @@ $$
</Formula>

The main distinctive feature of Virtual Funds is that, despite their size incorporating the
[Reinforcement](/concepts/protocol/reinforcement) size designated at the creation of the Condition, the Reinforcement is
[Reinforcement](/knowledge-hub/protocol/reinforcement) size designated at the creation of the Condition, the Reinforcement is
not locked on the [LP](/contracts/lp) balance fully.
Until the Condition is completed, only the liquidity amount needed to cover the maximum possible payout for
the Condition through user bets is locked on the LP balance. The locked liquidity value is recalculated each time a user
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Expand Up @@ -7,7 +7,7 @@ Apps can be interfaces, widgets, tools, integrations or even standalone products

In the case of [bookmaker.XYZ](https://bookmaker.xyz/) (a betting interface), the app instantly inherits all markets (with its underlying liquidity) that are hosted via Azuro smart contracts, and may simply focus on user acquisition and UI/UX improvements.

Apps [earn a % of the profits](https://gem.azuro.org/concepts/how-azuro-works/rewards) realized by the [Pools](https://gem.azuro.org/concepts/how-azuro-works/components/pools) (from the part associated with their own users' activity). Apps will provide their addresses to allow the protocol to link it with their users' bets, allowing the [LP contract](https://gem.azuro.org/contracts/lp) to distribute part of generated protocol revenue to the given address.
Apps [earn a % of the profits](https://gem.azuro.org/knowledge-hub/how-azuro-works/rewards) realized by the [Pools](https://gem.azuro.org/knowledge-hub/how-azuro-works/components/pools) (from the part associated with their own users' activity). Apps will provide their addresses to allow the protocol to link it with their users' bets, allowing the [LP contract](https://gem.azuro.org/contracts/lp) to distribute part of generated protocol revenue to the given address.

Apps have the ability to choose which markets to display on their app. They can select from the list of supported conditions live on the protocol and remove events that are not needed.

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# Data Providers

The Data Provider is an entity connected to the protocol with the responsibility to create and cancel events, as well as update (or reprice) sell-side odds. Data Providers ensure that there are [Conditions](https://gem.azuro.org/concepts/how-azuro-works/components/conditions) to predict on, and that the probabilities for these conditions are such that the pool generates a profit from the predicting over time.
The Data Provider is an entity connected to the protocol with the responsibility to create and cancel events, as well as update (or reprice) sell-side odds. Data Providers ensure that there are [Conditions](https://gem.azuro.org/knowledge-hub/how-azuro-works/components/conditions) to predict on, and that the probabilities for these conditions are such that the pool generates a profit from the predicting over time.

When creating a new Condition, the Data Provider sets the following:

Total [Reinforcements](https://gem.azuro.org/concepts/how-azuro-works/components/reinforcement) for each condition and the respective outcomes
Total [Reinforcements](https://gem.azuro.org/knowledge-hub/how-azuro-works/components/reinforcement) for each condition and the respective outcomes

Margin for each condition/outcomes, thus setting the [odds](https://gem.azuro.org/concepts/how-azuro-works/components/odds)
Margin for each condition/outcomes, thus setting the [odds](https://gem.azuro.org/knowledge-hub/how-azuro-works/components/odds)

For its services, the Data Provider receives a share of the profit that is due to the Pool. It can be either the Pool owner or any other address, for additional security.

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# Liquidity Providers

Providing liquidity into one of Azuro's [pools](https://gem.azuro.org/concepts/how-azuro-works/components/pools) exposes the LP to all prediction markets supported by the pool — one-click exposure to thousands of markets, concurrently.
Providing liquidity into one of Azuro's [pools](https://gem.azuro.org/knowledge-hub/how-azuro-works/components/pools) exposes the LP to all prediction markets supported by the pool — one-click exposure to thousands of markets, concurrently.

The liquidity pools earn through the spread embedded in the [odds (sell-side)](https://gem.azuro.org/concepts/how-azuro-works/components/odds) which players can bet on. The profit of the liquidity pool is the difference between the tokens seeded from the pool into the [Conditions](https://gem.azuro.org/concepts/how-azuro-works/components/conditions) and the tokens returned to the pool after those Conditions are resolved.
The liquidity pools earn through the spread embedded in the [odds (sell-side)](https://gem.azuro.org/knowledge-hub/how-azuro-works/components/odds) which players can bet on. The profit of the liquidity pool is the difference between the tokens seeded from the pool into the [Conditions](https://gem.azuro.org/knowledge-hub/how-azuro-works/components/conditions) and the tokens returned to the pool after those Conditions are resolved.

The more bet volumes serviced by the pool, the higher the likelihood that the pool is profitable. And the longer the duration of an LP's position, the higher the likelihood that it yields a positive return.

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# Reward Distribution

The term "reward" within Azuro protocol refers to the fee of the [Pool's](https://gem.azuro.org/concepts/how-azuro-works/components/pools) profit that is distributed to those who contribute to its operation.
The term "reward" within Azuro protocol refers to the fee of the [Pool's](https://gem.azuro.org/knowledge-hub/how-azuro-works/components/pools) profit that is distributed to those who contribute to its operation.

Currently, there are 4 types of contributors in the Pool, each entitled to rewards from protocol revenue: Liquidity Providers (LPs), Data Providers, Apps, and AzuroDAO.

## LPs and Data Providers

For LPs and Data Providers, after the completion of each [Condition](/concepts/how-azuro-works/components/conditions), the profit or loss of the pool is multiplied by the reward rate (20% and 10% respectively) and added to the contributor reward balance.
For LPs and Data Providers, after the completion of each [Condition](/knowledge-hub/how-azuro-works/components/conditions), the profit or loss of the pool is multiplied by the reward rate (20% and 10% respectively) and added to the contributor reward balance.

## Apps (Frontends)

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