What is Betix?
Betix is a social prediction market built on Solana blockchain. It allows users to create prediction questions, place bets on outcomes, and earn rewards when their predictions are correct. Unlike traditional prediction markets with complex trading mechanisms, Betix uses a simple fixed-stake betting model designed for social groups and communities.
Fixed stake betting - everyone bets the same amount
Social features - share markets with friends
Optimistic settlement with challenge mechanism
Transparent timelines for all market phases
Connecting Your Wallet
- 1Click the "Connect Wallet" button in the navigation bar
- 2Select your preferred Solana wallet (Phantom, Solflare, etc.)
- 3Approve the connection request in your wallet
- 4Your wallet address will appear in the navigation
You need SOL in your wallet to create markets and place bets.
Creating a Market
To create a new prediction market:
1
Write Your Question
Create a clear, unambiguous prediction question. Good questions have objective outcomes that can be verified.
2
Add Description
Provide detailed resolution criteria. Explain exactly how the outcome will be determined.
3
Set Options
Add 2-10 possible outcomes. Make sure options are mutually exclusive and cover all possibilities.
4
Configure Settings
Set the stake amount, bet deadline, resolution time, and challenge window.
Tips
- Use specific dates and criteria
- Link to verifiable data sources
- Consider all edge cases
Placing Bets
To participate in a market:
- 1Browse available markets on the home page
- 2Click on a market to view details
- 3Select the option you want to bet on
- 4Optionally add your Twitter handle for social visibility
- 5Confirm the transaction in your wallet
Rules
- Each address can only bet once per market
- Bets cannot be cancelled or changed
- All bets use the fixed stake amount set by the creator
Settlement Process
Betix uses an optimistic settlement mechanism:
OPENMarket is accepting bets until the deadline
CLOSEDBetting closed, waiting for resolution time
PROPOSEDSomeone has proposed an outcome, challenge window is active
DISPUTEDSettlement was challenged, admin will resolve
SETTLEDFinal outcome determined, winners can claim rewards
FAQ
Q:What happens if no one settles the market?
A:If no settlement is proposed within 7 days after resolve time, all funds are returned to bettors.
Q:How are rewards calculated?
A:Winners share the total pool proportionally. If you bet 0.1 SOL and the losing side had 1 SOL, you get your share of that 1 SOL.
Q:Can I cancel my bet?
A:No, bets are final and cannot be cancelled or modified.
Q:What if the market creator disappears?
A:Any participant can initiate settlement after the resolve time. The market does not depend on the creator.
Q:How do I challenge a settlement?
A:During the challenge window, click "Challenge Settlement" if you disagree with the proposed outcome. An admin will review.