Architecture

Ojo markets are CLOBs (Central Limit Order Book) built on the Gnosis Conditional Tokens Framework. There are a few disclaimers to note:

  • We are in a closed beta. The platform is experimental software under active development.

  • There may be bugs in these smart contracts. We make no assurances that there aren't! While we've worked with Octane Security to ensure they are as secure to the best of our knowledge that we can make them, no one can ever make an assurance that code will be 100% bug-free. You may lose all funds deposited into the platform.

  • There is an off-chain orderbook, with on-chain settlement. We never custody funds. We use EIP-712 so that you can push signatures to our API authorizing trades, and then our API uses that to trade if it finds a matching order on the other side of the book.

  • Prices can be volatile. While we may run a seed of liquidity on the orderbook to enable trading, traders may set prices at different values.

  • Market resolution depends on third-party oracle systems (UMA) which may fail or be disputed, or may misunderstand our smart contracts. Uma is used by top-tier products in the space, but we make no assurances of this third-party oracle.

  • Markets may have insufficient liquidity, preventing you from exiting positions. We make no assurance that you will always be able to sell your position back.

  • Prediction markets may be subject to changing regulatory treatment. US-based users and sanctioned entities are strictly prohibited from trading.

  • No Investment Advice Nothing on this platform constitutes investment, financial, legal, or tax advice.

Here's the architecture:

ConditionalTokensWithPermit (CTF Fork)

  • Modified Gnosis CTF with EIP-712 gasless signatures

  • Manages ERC1155 outcome tokens (YES/NO positions)

  • Handles splitting USDC → YES+NO tokens

  • Handles merging YES+NO → USDC

  • Added setApprovalForAllWithPermit() and redeemPositionsWithPermit() for gasless UX

Market (Per-market contracts)

  • One deployed per prediction market

  • Integrates UMA Optimistic Oracle V3 for resolution

  • Stores market metadata (question, expiration, maker)

  • Manages resolution lifecycle: propose → settle

  • Reports payouts to CTF after UMA settlement

  • Supports gasless resolution via proposeResolutionWithPermit()

OrderBook (EIP-712 signature verification)

  • Stateless order matching (actual book is off-chain)

  • Validates EIP-712 signed orders

  • Tracks filled amounts and cancellations

  • Price scaled to 1e6 (0.01 = 10,000)

  • Nonce-based order invalidation

Settlement (Trade execution)

  • Inherits from OrderBook

  • Executes matched trades between signed orders

  • 1% fee

  • Just-in-time position splitting: If seller lacks YES tokens, auto-splits their USDC

  • Supports gasless trading via executeTradeWithPermit() (EIP-2612 USDC permit)

  • Guardian-controlled pause mechanism

MarketFactory

  • Deploys new Market contracts

  • Registers markets with Settlement

  • Tracks all markets and their CTF token IDs

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