Glossary
Key terms used throughout Intotes documentation.
A
AMM (Automated Market Maker)
A trading mechanism that uses a mathematical formula (LMSR) to automatically set prices. Unlike the orderbook, AMM trades don't require a counterparty — users trade directly against the liquidity pool.
Ask
A sell order in the orderbook. Asks are sorted from lowest to highest price. The lowest ask is the best price available for buyers.
B
Bid
A buy order in the orderbook. Bids are sorted from highest to lowest price. The highest bid is the best price available for sellers.
Bonus Balance
A separate balance funded by referral bonuses or promotions. Can be used for trading with some restrictions (e.g., blocked 2 hours before sport events start).
C
Cents (Kopecks)
The base unit for all monetary values on Intotes. All amounts are stored as integers in cents. For RUB: 10000 = 100.00 RUB. See Money Format for details.
Creator
A user with the is_creator role who can create and manage events on the platform.
E
Event
The top-level container for a prediction. An event has a name, tags, and one or more pools. Example: "Super Bowl 2025 — Team A vs Team B".
F
Fill
When an order is matched and executed (fully or partially). A "filled" order has been completely executed.
L
Limit Order
An order placed at a specific price. It sits in the orderbook until matched with a counterparty or cancelled.
LMSR (Logarithmic Market Scoring Rule)
The mathematical formula used by the AMM: C(q) = b * ln(sum(e^(q_i/b))). It determines the cost of buying or selling shares based on current market quantities.
Liquidity
The amount of capital available for trading in a market. Higher liquidity means less price impact per trade. In LMSR, the b parameter controls liquidity depth.
Loop Event
A recurring event that automatically recreates after each cycle (e.g., "Will BTC go up in the next hour?"). Uses loop_interval_minutes and loop_template_event_id.
M
Market
A binary YES/NO outcome within a pool. Each market has a probability (0-100%) and can be either orderbook-type or LMSR-type.
Market Order
An order that executes immediately at the best available price. Unlike limit orders, market orders don't specify a price.
Mid-price
The average of the best bid and best ask: (best_bid + best_ask) / 2. Represents the "fair" market price.
O
Orderbook
A list of all outstanding buy (bid) and sell (ask) orders for a market, sorted by price. The orderbook mechanism matches buyers and sellers directly.
P
P2P (Peer-to-Peer) Exchange
A feature for exchanging fiat currency (RUB) for USDT directly between users through advertisements and orders.
PnL (Profit and Loss)
The profit or loss on a position. Calculated at settlement: PnL = settlement_payout - cost_basis.
Pool
A question within an event that contains one or more markets. Pools have finish_at (when trading stops) and live_at (when the real-world event starts) times.
Position
A user's holding in a specific market. Defined by token_type (YES/NO), amount (shares in cents), and avg_price (average entry price).
Probability
The market's estimate of the likelihood of an outcome. Expressed as 0-10000 (0.00%-100.00%). A YES probability of 7500 means the market thinks there's a 75% chance of YES.
R
Resolution
The process of determining the outcome of an event/pool. The creator (or system) sets the won_side, and positions are settled accordingly.
S
Settlement
The process of paying out positions after resolution. Winners receive 10000 cents per share; losers receive 0.
Shares
Units of ownership in a market outcome. Measured in cents (e.g., 50000 = 500.00 shares). Each share pays out 10000 cents (100.00) if the outcome wins.
Spread
The difference between the best ask and best bid: spread = best_ask - best_bid. Lower spreads indicate better liquidity.
T
Token (YES/NO)
The two possible outcome tokens in a binary market. Buying YES tokens means you believe the outcome will happen; buying NO tokens means you believe it won't.
V
Volume
The total amount of trading activity in a market, measured in cents. Higher volume generally indicates more liquid and efficient markets.