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UmiaMarketCore.md

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UmiaMarketCore

Source: src/core/UmiaMarketCore.sol

Purpose

Decision market engine with virtual token accounting.

  • Creates markets/proposals.
  • Handles split/merge with a minimal virtual-token ledger (balanceOf/transfer + LedgerLib), not full ERC-6909 (no approve/allowance/operator surface).
  • Runs per-proposal CPMM markets.
  • Settles markets with TWAP-based winner selection.
  • Coordinates settlement claims and winning payload execution.

Key state

  • marketCounter, proposalCounter, activeUnsettledMarketCount
  • _markets[marketId] (MarketData), _proposals[proposalId] (ProposalData) — packed structs in MarketCoreTypes
  • _pools[proposalId] (Pool: CPMM reserves, accrued protocol fees, user virtual supplies, LP shares)
  • _settle[marketId] (SettleAcct: real venture/money balances, winner + winning TWAP, LP re-add accounting, settledAt, executed-adjacent flags on MarketData)
  • balanceOf[owner][id], totalSupply[id] — the virtual venture/money + LP-share ledger (LedgerLib)
  • proposalToMarket, activeMarketByVenture, _hasClaimed[marketId][user]
  • EIP-712 replay state: marketCreationNonces, swapNonces, DOMAIN_SEPARATOR
  • Market stake accounting lives in the separate UmiaMarketStake contract, not here.

Important functions

  • Market lifecycle:
    • createMarket
    • getMarketStatus
    • settleMarket
    • claimSettlement
    • executeWinningProposal
  • Trading/accounting:
    • split, merge
    • swaps: swapExactIn, swapExactOut (self-custodial), plus swapExactInWithPermit, swapExactOutWithPermit (EIP-712 relayed)
    • addLiquidity

Access control and checks

  • createMarket requires signer-approved payload and nonce.
  • Swaps are self-custodial: swapExactIn / swapExactOut move the caller's own virtual tokens. The permit variants recover an EIP-712 signer and consume a per-signer swapNonces entry for replay protection.
  • executeWinningProposal resolves executor from hub and requires non-zero executor if payload execution is needed.

Important constants

Defined in MarketCreationLib (not on UmiaMarketCore itself):

  • TRADING_MAX_START_DELAY = 7 days — start at/before block.timestamp clamps to now (no minimum delay)
  • TRADING_MIN_DURATION = 1 hours
  • TRADING_MAX_DURATION = 96 hours
  • TRADING_DEFAULT_DURATION = 3 days — used when duration == 0
  • MIN_PROPOSALS = 1
  • MAX_PROPOSALS = 5

Notes

  • A no-op proposal is auto-inserted at index 0 for each market.
  • 50% of venture LP liquidity is removed during market creation and partially re-added at settlement.
  • Winner threshold comparison uses hub-configured winningMarketThresholdBps.