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How do the shared UTXOs work? New participants can add on to an existing one?
Sorry, I cannot explain Ark better than Elle Mouton
Let me know if anything / what is still unclear after you read it!
Woah! I’m probably understanding that wrong but I think I see why you find it so promising.
Could the entire platform basically operate on one batch, with participants able to allocate their sats freely across markets and allowing new participants by just opening additional rounds?
Even if each market has to be its own batch, it seems like users would sort of preset an upper bound for how much they’re willing to spend in a market, but not have to buy the shares then.
Could the entire platform basically operate on one batch,
So far, I think so, yes! Ark, the protocol, doesn’t really care about how you lock your VTXOs. The protocol works the same way.
To clarify, an Ark can have multiple batches onchain. If not everyone fits into one batch, you need to create another one. The question is just whether an Ark can support multiple markets without losing efficiency in terms of onchain footprint.
allowing new participants by just opening additional rounds?
Yes!
users would sort of preset an upper bound for how much they’re willing to spend in a market, but not have to buy the shares then.
Yes! I imagined the first step as entering the Ark. So before you bet, you would deposit money into the Ark that you could withdraw at any time. The only difference is that you couldn’t actually use the Ark to pay other users, only to bet on outcomes.
Me too, until I realized you could maybe build more than yet another wallet with it
Ideally it wouldn’t be me who has to deal with these issues, haha. I currently have no interest in making this a profitable company. I’m a developer, not a CEO. I’m sharing this for feedback and I'm fine with others "stealing the idea". Good execution still requires competence I might not have.
But since I have no illusions about others putting their money into code the author himself hasn’t even put money into, I had the idea of capping the amount of money that can be in a market, and only running one market at a time that also settles quickly. It should be something repetitive and very easy to verify, like the Bitcoin price, but maybe something more exciting.
I still need to do the math, since it depends on a lot of parameters, some of which are configurable, like how many traders share a UTXO, but I’m hoping 10,000 sats will be enough. Claude came up with an estimate of 75,000 sats, though, lol. I hope it used the wrong numbers haha.