Create Market

A single operational flow for organization setup, proposal metadata, market creation, liquidity manager setup, Snapshot linking, candle readiness, arbitrage setup, and publishing.

Companies

Create proposal

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Readiness gate

A market goes live only when its metadata is valid and a $100 trade moves price under 3%. Below the floor it stays a draft.

Liquidity floorDRAFT

a $100 trade moves price 100.00% (>= 3% floor) — seed more liquidity before going live (from the planned seed).

Metadata1 issue

• missing required key: snapshot_id

• invert flags not verified — pools do not exist yet (re-run after pool creation)

If the TWAP window ends with no trades, the market resolves by the default rule (no trading occurred) — this is not a market verdict.

Market Defaults

Organization

Proposal Code

Display Title

Resolution Question

Snapshot Proposal Hash

Vote Close Time

Company Token

PNK

0x37b60f4e9a31a64ccc0024dce7d0fd07eaa0f7b3

Currency Token

sDAI

0xaf204776c7245bF4147c2612BF6e5972Ee483701

One-Step Execution Plan

Org: Kleros DAOClose: 2026-07-23 16:52 UTCLiquidity: Liquidity manager

01
Organization
Select an existing organization or create a permissionless testnet organization.
Evidence: organizationAddress, organizationOwner
02
Metadata
Build proposal metadata, registry metadata, Snapshot reference, and display titles.
Evidence: metadataJson, closeTimestamp, snapshotId
03
Futarchy Market
Create the market with company/currency tokens, Reality bond, opening time, and resolver defaults.
Evidence: proposalAddress, factoryTxHash
04
Liquidity Manager
Create or reuse the organization liquidity manager, add initial liquidity, and set the official proposal.
Evidence: liquidityManagerAddress, liquidityTxHash, officialProposalSet
05
Snapshot Link
After: liquidity
Link Snapshot only after liquidity exists, so Snapshot users never land on an empty market.
Evidence: snapshotLinkRegistryTxHash
06
Candles and Indexing
After: market, liquidity
Kickstart pools and verify registry/candle indexers can read the market.
Evidence: registryIndexed, candlesIndexed
07
Arbitrage
After: market, liquidity
Deploy or configure arbitrage contracts and bots that keep YES/NO pricing checked.
Evidence: arbitrageContract, botConfig
08
Publish
After: snapshot, indexing
Expose the market and liquidity manager links on the company page after all checks pass.
Evidence: companyPageLink, marketUrl, liquidityManagerUrl

Contract Actions

01
MetadataPublisher.publishProposalJson
Stage: metadata
Build and publish the registry metadata JSON, including Snapshot visibility fields.
Produces: metadataJson, metadataURI
02
IFutarchyFactory.createProposal
Stage: market
After: publish-metadata-json
Create the futarchy proposal market using company token, currency token, bond, and opening time.
Produces: proposalAddress
03
FutarchyOrganizationMetadata.createAndAddProposalMetadata
Stage: metadata
After: create-futarchy-proposal, publish-metadata-json
Store proposal metadata on the organization after the proposal address exists.
Produces: proposalMetadata
04
FutarchyLiquidityManagerFactory.createLiquidityManager
Stage: liquidity
After: create-futarchy-proposal
Create or reuse the organization liquidity manager bundle for this token pair.
Produces: proposalSource, spotAdapter, conditionalAdapter, manager
05
FutarchyOrganizationMetadata.setDefaultLiquidityManager
Stage: liquidity
After: create-flm-bundle
Store the liquidity manager and proposal source as the organization default used by market pages.
Produces: defaultLiquidityManager
06
FutarchyOfficialProposalSource.setOfficialProposal
Stage: liquidity
After: create-futarchy-proposal, create-flm-bundle
Point the liquidity manager proposal source at the newly created proposal before public Snapshot routing.
Produces: officialProposal
07
FutarchyLiquidityManager.initializeFromBootstrap
Stage: liquidity
After: store-default-flm, set-official-proposal
Seed spot liquidity through the liquidity manager before Snapshot sends users to the market.
Produces: liquidityManagerAddress, liquidityTxHash
08
SnapshotLinkRegistry.linkSnapshotProposal
Stage: snapshot
After: bootstrap-flm-liquidity, create-proposal-metadata
Link Snapshot after liquidity is present and proposal metadata has been written.
Produces: snapshotLinkRegistryTxHash
09
CandleIndexer.backfillMarket
Stage: indexing
After: bootstrap-flm-liquidity, create-proposal-metadata
Verify organization/proposal metadata, market candles, and spot price feeds before publish.
Produces: registryIndexed, candlesIndexed
10
FutarchyArbitrageFactory.configureMarket
Stage: arbitrage
After: bootstrap-flm-liquidity
Configure arb contracts and bot parameters for the YES/NO and spot pools.
Produces: arbitrageContract, botConfig
11
CompanyMarketRegistry.publish
Stage: publish
After: link-snapshot-proposal, verify-registry-and-candles, configure-arbitrage
Expose the market on the company page once Snapshot, candles, metadata, and liquidity are ready.
Produces: companyPageLink, marketUrl, liquidityManagerUrl

Generated Metadata Draft

This is the registry metadata shape the one-step flow will pass into the market creation and proposal metadata writes.

Open organization

{
  "chain": 100,
  "proposalAddress": "",
  "organizationAddress": "0xaAB097ead5c2Db1Ca7b1E5034224A2118EDAbe36",
  "snapshot_id": "",
  "closeTimestamp": 1784825534,
  "startCandleUnix": 1784217134,
  "twapStartTimestamp": 1784220734,
  "twapDurationHours": 120,
  "coingecko_ticker": "composite::0x2613cb099c12cecb1bd290fd0ef6833949374165+0x4c3b00293070073d71455f20fa9e5868cffd8678::0x89c80a4540a00b5270347e02e2e144c71da2eced-hour-500-xdai",
  "currency_stable_rate": "0x89c80a4540a00b5270347e02e2e144c71da2eced",
  "currency_stable_symbol": "xDAI",
  "visibility": "public",
  "resolution_status": "unresolved",
  "eventProbability": 0.5,
  "display_title_0": "What will the impact on PNK price be",
  "display_title_1": "if KIP-90 is passed?",
  "companyTokens": {
    "base": {
      "tokenName": "PNK",
      "tokenSymbol": "PNK",
      "wrappedCollateralTokenAddress": "0x37b60f4e9a31a64ccc0024dce7d0fd07eaa0f7b3"
    }
  },
  "currencyTokens": {
    "base": {
      "tokenName": "sDAI",
      "tokenSymbol": "sDAI",
      "wrappedCollateralTokenAddress": "0xaf204776c7245bF4147c2612BF6e5972Ee483701"
    }
  },
  "flm": {
    "mode": "flm",
    "address": "",
    "proposalSource": "",
    "officialProposalAfterMarketCreation": true
  },
  "snapshot": {
    "space": "kleros.eth",
    "proposalId": "",
    "linkAfterLiquidity": true,
    "visibilityMetadata": {
      "includeOnSnapshotWebsite": true,
      "linkedBy": "SnapshotLinkRegistry.linkSnapshotProposal"
    }
  },
  "registry": {
    "organizationAddress": "0xaAB097ead5c2Db1Ca7b1E5034224A2118EDAbe36",
    "proposalCode": "KIP-90",
    "proposalMetadataMethod": "FutarchyOrganizationMetadata.createAndAddProposalMetadata",
    "defaultLiquidityManagerMethod": "FutarchyOrganizationMetadata.setDefaultLiquidityManager"
  }
}