Why Have Market Types Changed in 0.12.0 ?

[druspencer]

Prior to 0.12.0 market types were defined inside the protocol, meaning if we needed to add new market types, the protocol would need updating. Additionally, only one of each market type could be added to any given event, meaning that an event could only have the same amount of markets on it as the pre-defined market types. This system clearly didn't scale and we found operators having to implement workarounds in order to group more markets under the same event.

You can read more about the technical change in the PR implementing the work: MonacoProtocol/protocol#130

Previous Types

ORIGINAL_MARKET_TYPES = [
  "EventResultFullTime",
  "EventResultHalfTime",
  "EventResultBothSidesScore",
  "EventResultWinner"
];

To resolve this and allow for extensible market types to be applied to events (for example over/under markets are the same type, but an operator may need multiple over/under markets on an event - over 0.5, 1.5, 2.5 etc) we have introduced market type accounts.

So whilst a market may have previously looked like this:

{
  "success": true,
  "errors": [],
  "data": {
    "publicKey": "8fjyRt2gXhmw1MkizLusQ2Q4MAV9eVdYeisyyZxTJMao",
    "account": {
      "authority": "J2LqciLvyxVHMjMcda73459zWfFxw7rveDb5YAhSdGTe",
      "eventAccount": "4QT67xirX8M1QudgoHuNkgzpDhyjxtsBEvziRYWgAyD1",
      "mintAccount": "EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v",
      "marketStatus": {
        "open": {}
      },
      "inplayEnabled": false,
      "inplay": false,
      "marketType": "EventResultFullTime",
      "version": 0,
      "decimalLimit": 3,
      "published": false,
      "suspended": false,
      "marketOutcomesCount": 2,
      "marketWinningOutcomeIndex": null,
      "marketLockTimestamp": 1701457200,
      "marketSettleTimestamp": null,
      "eventStartOrderBehaviour": {
        "cancelUnmatched": {}
      },
      "marketLockOrderBehaviour": {
        "cancelUnmatched": {}
      },
      "inplayOrderDelay": 0,
      "title": "Winner",
      "unsettledAccountsCount": 2,
      "unclosedAccountsCount": 5,
      "escrowAccountBump": 255,
      "eventStartTimestamp": 1701457200
    }
  }
}

Instead of:

      "marketType": "EventResultFullTime",

You will now see:

      "marketType": "DoUhzNn3ZiRsqfwkEQpZotTo9HQMsYJesgxAeXwrv1UR",
      "marketTypeDiscriminator": null,
      "marketTypeValue": null,

The marketType is now a publicKey relating to a market type account.

You will notice marketTypeDiscriminator and marketTypeValue to quote the PR:

market_type_discriminator: String on Market allowing unrelated markets of a given market type for the same event to be differentiated, e.g., Set 1 Winner and Set 2 Winner, where Set Winner would be the market type, and 1 and 2 would be different discriminators.

market_type_value: String on Market allowing related markets of a given market type for the same event to be differentiated, with the value being relevant to the settlement of that market, e.g., Over/Under 1.5, Over/Under 2.5, where Over/Under would be the market type, and 1.5 and 2.5 would be the different values.

Full info about the market type, including its name, can then be pulled from it's onchain account - here are the ones, at time of writing, on mainnet - mirroring the original market types from the protocol:

[
   {
      "publicKey": "CUVmzt5p8sD6K2PmXd8VYyWZb7sUB8wU398Ri1PExuas",
      "account": {
         "name": "EventResultWinner",
         "requiresDiscriminator": false,
         "requiresValue": false
      }
   },
   {
      "publicKey": "9EagFDAvkweHjpNQraZBoQZPpPAnotH12P4C8qGFoQgH",
      "account": {
         "name": "EventResultBothSidesScore",
         "requiresDiscriminator": false,
         "requiresValue": false
      }
   },
   {
      "publicKey": "CKdH6sb7Y3gw6Jtgi518h364xGecos4bqAxuDzKxiyVz",
      "account": {
         "name": "EventResultHalfTime",
         "requiresDiscriminator": false,
         "requiresValue": false
      }
   },
   {
      "publicKey": "DoUhzNn3ZiRsqfwkEQpZotTo9HQMsYJesgxAeXwrv1UR",
      "account": {
         "name": "EventResultFullTime",
         "requiresDiscriminator": false,
         "requiresValue": false
      }
   }
]

Over time, market operators will make use of new market types and their discriminator/value functions so if you are implementing a solution that requires you to understand more about the market types, you may want to map them locally and fetch if there is an unknown one.

The SDK has example code for:

• Get all market types
• Get market type by name
• Get market type by pk

[druspencer]

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