The Unit Docs
Search…
⌃K

# Ticket Sales

The purchase value of tickets depends on the price in UNIT of the cryptocurrencies deposited and the probability of the outcome.
On day 1 of the round, tickets (yUNIT and nUNIT) are priced in UNIT at the rate of
$1 \;\textrm{UNIT}= (1-p) \;\textrm{yUNIT},$
$1 \;\textrm{UNIT}= p\;\textrm{nUNIT},$
for
$p$
being the probability of "yes".
On subsequent days, ticket prices depend on the updated probability of the outcome on each day.
In the Ethereum network, for
$V$
the price of 1 ETH in UNIT and
$p$
the updated probability of "yes" we get that 1 ETH will yield the following amount of yUNIT and nUNIT tickets.
$1 \;\textrm{ETH}= V * (1-p) \;\textrm{yUNIT},$
$1 \;\textrm{ETH}= V * p \;\textrm{nUNIT}.$

## Example of Ticket Sale Calculation (Day 1)

Question: Will coin A enter The UNIT this round?
Calculate the probability
$p$
that coin A will enter The UNIT in this round given equal
$0.5$
probability that it will satisfy the requirements in any given day.
$p = \frac{1}{2^{13}}\biggl[\binom{13}{8}+\binom{13}{9}+\binom{13}{10}+\binom{13}{11}+\binom{13}{12}+\binom{13}{13}\biggr]$
$p =\frac{2380}{8192}= 0.29052734375.$
Then, if 1 ETH is currently worth 1000 UNIT, then
$1 \;\textrm{ETH}= 1000* 0.70947265625\;\textrm{yUNIT}=709.47265625\;\textrm{yUNIT},$
$1 \;\textrm{ETH}= 1000 * 0.29052734375 \;\textrm{nUNIT} = 290.52734375\;\textrm{nUNIT}.$

## Example of Ticket Sale Calculation (Day 2)

Same Question: Will coin A enter The UNIT this round?
Known Data: On Day 1, coin A met the requirements to enter The Unit.
Again, calculate the probability
$p_1$
that coin A will enter The UNIT in this round given equal
$0.5$
probability that it will satisfy the requirements in any given day.
$p_1 = \frac{1}{2^{12}}\biggl[\binom{12}{7}+\binom{12}{8}+\binom{12}{9}+\binom{12}{10}+\binom{12}{11}+\binom{12}{12}\biggr]$
$p_1 = \frac{1586}{4096} =0.38720703125.$
Then, if 1 ETH is currently worth 1000 UNIT, then
$1 \;\textrm{ETH}= 1000* 0.61279296875\;\textrm{yUNIT}=612.79296875\;\textrm{yUNIT},$
$1 \;\textrm{ETH}= 1000 * 0.38720703125 \;\textrm{nUNIT} = 387.20703125\;\textrm{nUNIT}.$