Security
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External state-changing functions use OpenZeppelin ReentrancyGuard where needed, and follow checks-effects-interactions.
placeOrder() / cancelOrder()
Anyone with sufficient balance/approval
clearBatch()
Anyone
resolveMarket()
Anyone with valid Pyth data and update fee
finalizeResolution()
Anyone after finality
redeem()
Eligible token/position holders
createMarket()
MARKET_CREATOR_ROLE
pauseFactory() / lifecycle admin actions
ADMIN_ROLE
setProtocolFeeCollector()
DEFAULT_ADMIN_ROLE on FeeModel
Segment trees provide O(log N) price-level operations. Order counts and resting-order scans are capped. Batch settlement is chunked (SETTLE_CHUNK_SIZE = 400) so gas per clearBatch call remains bounded.
Markets can be halted/resumed or deactivated by authorized operators.
Unresolved markets can be cancelled through the configured fallback path, enabling refunds.
Vault emergency mode has a timelock before emergency withdrawals.
Minimum lot sizes prevent dust orders.
Full collateral locking creates an economic cost for spam.
MAX_USER_ORDERS = 20 per market prevents a single address from flooding the book.
Resting orders far from the clearing price are parked outside the active segment tree while still locking collateral.
Pyth update data is verified on-chain.
parsePriceFeedUpdates reads the settlement-window price without relying on a pre-updated on-chain price.
Confidence checks reject updates with excessive uncertainty.
Fallback windows handle rare Pyth publishing delays.
First valid submission starts a 90-second finality window.
During finality, an earlier valid update can challenge only if it changes the outcome.
Finalization is permissionless after the finality window.
Each market can only be finalized once.
Orderbook trades are fully collateralized with locked USDT or locked positions.
Pool markets are backed by their configured collateral.
No margin or liquidation mechanics.
Users can cancel open orders while the market is active.
An internal security audit (v1.2) covered the core contracts, including fee split logic, chunked settlement, resting orders, and per-user order caps. See Internal Audit v1.2.
An internal Codex-assisted review covered the World Cup Multiplier cross-event Prediction Ticket refactor. This was not an external third-party audit. See World Cup Multiplier Cross-Event Ticket Internal Review.
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