Using Zeitgeist markets (CLI)

Setup

This page will describe some CLI commands to access a Zeitgeist chain. You can either run a Zeitgeist chain instance locally for testing purposes or interact with the live chain. By default, the local chain endows the well-known account //Alice with test ZTG and you don't need to do anything to fund this account or obtain the private seed. On the live chain, we will assume that you have the private seed to an account which is funded with sufficient ZBS (or ZTG) as appropriate for the chain. You will need over 100 ZTG or equivalent on the chain you are using if you want to interact with a market you have created.

If you are using a local chain instance, follow the instructions to install and start the chain in the zeitgeistpm/zeitgeist repo. Compilation may take around 30-60 minutes.

In order to use the CLI, clone the zeitgeistpm/tools repo and install using yarn. installation using npm may not be complete.

git clone https://github.com/zeitgeistpm/tools.git
cd tools
yarn

We will set up a bash alias and refer to it in this doc. You can set up your own alias, or run the command directly, with yarn cli or through a GUI, as you prefer.

alias zgcli="node $PWD/packages/cli/dist/index.js "

You can test that you have setup the CLI correctly with zgcli help or yarn cli help.

As a user of an existing market

Find a market thatyou wish to interact with. You will need a market whose marketStatus is "Approved".

 zgcli getAllMarkets -f marketStatus marketType

To create a market

Anyone can create a prediction market using Zeitgeist!

A market could be categorical, scalar or combinatorial. These are different types of market and refer to the available outcomes and how the markets are evntually resolved (or how outcome shares redeemed).

Currently, to create a market, you must either

• leave a ValidityBond (larger) deposit, or
• leave a AdvisoryBond (smaller) deposit and, after creating the market, wait for it to be approved - this is to prevent spam and incomplete markets

Before the market is approved, the market will still show all its information on-chain, but it will not be possible to add liquidity and therefore the outcomes cannot be traded.

To create a market on a live Zeitgeist network:

 zgcli createMarket "Zeitgeist a hit?" "Will Zeitgeist be a hit?" 5HBjqZByJz36LPpod2p5ZbeM84yUywj2U1EP9WjZwDp7S4pk 125000 --seed "correct battery hore staple"

"Zeitgeist a hit?" and "Will Zeitgeist be a hit?" are the title and description of the market you want to create. 5HBjqZByJ... is the Account who will act as the orcale to resolve the market. If you are just testing out the functionality, you could set this to be your own account. 125000 is the block number at which the market expires. You can also choose to add --no-advised if you want to create a Permissionless market --seed is an optional paramter, but will be necessary in order to interact with the live chain, as you will need to run extrinsics from a funded account.

To create a market on a live Zeitgeist network:

We could create the same market on a local testnet, by specifying an endpoint

 zgcli createMarket "Zeitgeist a hit?" "Will Zeitgeist be a hit?" 5HBjqZByJz36LPpod2p5ZbeM84yUywj2U1EP9WjZwDp7S4pk 125000 --endpoint ws://localhost:9944

We didn't specify a seed here - we could have done, but the CLI will use the private seed for //Alice by default and, on the local chain instance, this account in endowed with a balance by default. Make a note of the marketId if creation of the market was successful. (Here we'll use 0).

As well as being funded, the //Alice account has sudo permissions on the local instance, so we can approve our own market! :

zgcli approve 0 --endpoint ws://localhost:9944

As a liquidity provider

Here we're using the example of the account created on the local chain and approved by //Alice. 10000000000 correponds to 1 ZTG, so when we buyCompleteSet, we are buying 300 ZTG-equivalent sets of outcomes. In the case of this market, where we used the defaults, this means that we created a Yes/Nocategorical market and so when we spend 300 ZTG, we receive both 300 Yes outcome tokens and 300 No outcome tokens. We can then use deployPool to be the first to deploy a liquidity pool for market 0. (The current, temporary, default amount to deploy to a pool is 100 ZTG equivalent of outcome tokens, plus 100 ZTG - These amounts will be configurable, but are currently set to 100 ZTG as this is the minimum allowed to deploy to a liquidity pool)

zgcli buyCompleteSet 0 3000000000000 --endpoint ws://localhost:9944
zgcli deployPool 0 --endpoint ws://localhost:9944

Make a note of the PoolId if deploying the pool was successful. (Here we'll use 0 again but be aware: marketIds and PoolIds are not interchangeable). Note that, now the pool is deployed, it cannot be deployed again. Other participants must instead join the existing pool using joinPool.