The purchase value of tickets depends on the price in UNIT of the cryptocurrencies deposited and the probability of the outcome.
On day 1 of the round, tickets (yUNIT and nUNIT) are priced in UNIT at the rate of
1UNIT=(1−p)yUNIT,
1UNIT=pnUNIT,
for p being the probability of "yes".
On subsequent days, ticket prices depend on the updated probability of the outcome on each day.
In the Ethereum network, for V the price of 1 ETH in UNIT and p the updated probability of "yes" we get that 1 ETH will yield the following amount of yUNIT and nUNIT tickets.
1ETH=V∗(1−p)yUNIT,
1ETH=V∗pnUNIT.
Example of Ticket Sale Calculation (Day 1)
Question: Will coin A enter The UNIT this round?
Calculate the probability p that coin A will enter The UNIT in this round given equal 0.5 probability that it will satisfy the requirements in any given day.
Same Question: Will coin A enter The UNIT this round?
Known Data: On Day 1, coin A met the requirements to enter The UNIT.
Again, calculate the probability p1 that coin A will enter The UNIT in this round given equal 0.5 probability that it will satisfy the requirements in any given day.