This guide explains how to trade on Foxify by creating your own market using the Foxify Permissionless Markets feature. This is a core component of the Foxify Peer-to-Peer Trading protocol on the Foxify Arbitrum network.
Step 1: Accessing the Market Creation Hub
Navigate to the Foxify Official platform. Connect your wallet and go to the "Create Market" section. The platform's Foxify CEX UX makes this process intuitive.
Step 2: Defining Your Market Parameters
You will define the terms of the binary option:
Underlying Asset: Choose the asset for the price prediction (e.g., ARB).
Strike Price: The target price.
Expiration Time: The time at which the option will be settled.
Position Sizing: Define the total size of the market you are creating (e.g., 1 ETH). You are taking one side of this bet.
Step 3: Deploying the Market
Once you confirm the parameters, you deposit your collateral. A dedicated smart contract is deployed for your specific market. This contract holds the collateral from both sides of the trade. The platform now lists your market, and other users can take the opposite side of your prediction. This is a fully Foxify non-custodial process.
Step 4: Peer-to-Peer Settlement
At expiration, an oracle reports the asset's price. The smart contract automatically settles the trade, sending the entire pool to the winner. This P2P settlement is the core of the Foxify security guide. Your participation also earns you rewards in the Foxify Points Program.
For a deeper dive into the oracle and contract architecture, see the Full Official Documentation.
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