POST /api/v1/lmsr/trade

Execute an LMSR (Logarithmic Market Scoring Rule) AMM trade. The LMSR provides guaranteed liquidity so trades are filled instantly at a price determined by the automated market maker.

Authentication

Required. Bearer token in Authorization header.

Request

Body Parameters

Parameter	Type	Required	Description
market_id	int64	Yes	ID of the market to trade in.
side	string	Yes	Trade direction: "buy_yes", "sell_yes", "buy_no", or "sell_no".
amount_type	string	Yes	"spend" (how much to pay in cents) or "shares" (how many tokens to buy/sell).
amount	int	Yes	The amount in cents (if "spend") or number of shares (if "shares").
use_bonus	bool	No	If true, uses bonus balance to fund the trade. Defaults to false.

Example

curl -X POST https://intotes.com/api/v1/lmsr/trade \
  -H "Authorization: Bearer <token>" \
  -H "Content-Type: application/json" \
  -d '{
    "market_id": 42,
    "side": "buy_yes",
    "amount_type": "spend",
    "amount": 1000
  }'

Response

200 OK

{
  "cost_or_payout_cents": 1000,
  "shares_delta": 1538,
  "new_position_yes": 1538,
  "new_position_no": 0
}

Response Fields

Field	Type	Description
cost_or_payout_cents	int	For buys: the cost charged in cents. For sells: the payout received in cents.
shares_delta	int	Number of shares bought or sold.
new_position_yes	int	User's updated YES token position after the trade.
new_position_no	int	User's updated NO token position after the trade.

How LMSR Pricing Works

The LMSR cost function is:

C(q) = b * ln(sum of e^(q_i / b))

• Buy cost = AMM price * (1 + fee%)
• Sell payout = AMM price * (1 - fee%)

The b parameter controls market liquidity. Higher b means more liquidity and smaller price impact per trade. The fee percent is configured server-side.

Errors

Status	Code	Description
400	INVALID_AMOUNT	Amount must be a positive integer.
402	INSUFFICIENT_BALANCE	User does not have enough balance for the trade.
409	MARKET_PAUSED	The market is currently paused for trading.
409	MARKET_RESOLVED	The market has already been resolved.