FAQ

What collateral does Venue One use

Venue One is operating with USDC Algorand (USDCa) at the moment. But we are planning to implement the use of USDC from other blockchains such as Ethereum, Solana and Flow in the near future.

Where do I find USDC Algorand (USDCa)

Venue.One does not promote any specific way of acquiring USDC nor any specific exchange centralised or decentralized. We will be offering onramp capabilities very soon. Till then you can either swap ALGO inro USDC on Tinyman or other Algorand DEXes or use any centralized exchange that supports USDCa. You can also use the MyAlgo wallet onramp to buy USDCa via Wyre or Transak.

How do I join Venue One app

First you go here then you hit the sign up button and enter your email address, you will receive a confirmation email that will redirect you back to the main page. If it's your first time using the application you will have to wait a couple of minutes for a wallet to be created from the 3rd party (MagicLink). Congratulations you are now logged in to the Venue One app.

How do I connect my Wallet to the Venue One app

You don't need to connect any personal wallet at any point to our application. Ιnstead you are using the in-app wallet that is created for you the first time joined Venue One from a 3rd party (MagicLink), that wallet is already opted-in to all the assets needed for you to trade within the app. So you don't have to do practically, anything else than to top-up your account with USDCa and start taking positions!

How do I top-up my account

At the main page there is a button "Deposit Funds" after you press it you are redirected to the page with the wallet address and the QR code, from there you can copy the wallet address and send the desired USDCa from any of your wallets to the in-app one.

How to withdraw funds from my account

From the main page hit the "My Account" button, you will be redirected to another page where you can see a "Withdraw Funds" button (under the green "Deposit Funds" button), you will be transfered to another screen where you can add the desired amount of funds and the wallet address you want the funds to be transfered.

What kind of markets Venue One has

At the moment there are two types of markets in the Venue One platform, Dual Markets and Speedy Markets.

What is Dual Markets

A dual prediction market is a market where people can trade contracts that pay based on the outcomes of unknown future but mutually exclusive events.

How are Dual Market prices determined

Demand and supply among each prediction pool liquidity providers and players. Prices are determined via an AMM smart contract set, similar to Uniswap v1 constant product formula.

What is Speedy Markets

Speedy markets are a distinct type of prediction market, also referred to as pari-mutuel. All predictions are combined into a pool, and those who make the winning choice split the pool (minus the protocol fee) pro rata to their initial position size.

What is the difference between Dual and Speedy Markets

The basic difference between Dual and Speedy Markets is the liquidity provision on Dual Markets. Another difference is that in Dual Markets you can actually buy AND sell your shares and take positions over time, while in Speedy you only buy shares until event starts then the pool is locked.

How are the pricing on duals changing?

These prices are based on individual expectations and the willingness of investors to put their money on the line for those expectations so price discovery is via demand and supply

I changed my mind on a dual market position. What can I do?

You can trade in and out of a position assuming there is enough liquidity to trade. Trading only stops, on a predefined expiration date/time, close to the resolution of each market.

Does Venue One participate in the markets

No, unlike centralized venues we do not trade in the markets. Markets are facilitated by the autonomous smart contracts using the UI provided. The other side of your trades are other traders and liquidity providers. The protocol is trustless.

Are there deposit or withdrawal fees

No, zero, zip, zilch on Algorand. You may face network fees on other chains however.

What are the trading fees

2.5% swap fees of which 80% goes to liquidity providers and 20% to the protocol for dual markets. In speedy markets the protocol fee is anywhere from 2-10%.

What is the use case of $VENO token

$VENO is our native token which is used, for the time being, for predetermined discounts on the platform's fees and for treasury operations using protocol profits. There are plans to implement more use cases for the native token.

Can I create my own markets?

Not currently, but you can always suggest any market in our Discord channel #market-proposal and by completing the form

When can I claim my winnings

You have 90 days from the closing date to claim your winnings. After that all unclaimed capital will get withdrawn back to the protocol and the market will be deleted from the platform and the blockchain and you will no longer be able to interact with it.

I am a US resident, can I trade in your platform

Unfortunately, no. US residents are not allowed to trade in the platform and all the US IPs are going to be blocked.

Why is there a discrepancy between my available cash and the total amount that appears in the portfolio value

The portfolio value represents the total amount of money in your account both in available cash and open positions of dual markets. It only counts the dual markets, as the speedy markets cannot calculate the winnings before the market is closed so it can't be accurate

I can't log in. What can i do?

Have you checked other folders like promotions, spam, trash or even if you have used a email account It may take around 1 min to receive a link. After you click the button at your email it says go back to the original tab, you just switch to the venue.one tab and wait a couple of seconds and you are logged.