⚾How to use Overtime
Last updated
Last updated
Overtime was made to bring the fun of sports to the blockchain, and part of that is providing a great market interface. The simple, well thought out dapp is easy to navigate and easy to use. Follow the steps below to get the full Overtime experience or view the embedded video tutorial.
You can begin by connecting your wallet from the home page. To connect your wallet, click on "Connect Wallet" and select your wallet provider. Select the address you'd like to connect and accept the prompt allowing the protocol to see your address, account balance, activity and prompt transaction approvals.
You can select a language by clicking on the menu icon and then the flag icon, providing you with options to select either English, Chinese, French, German, Spanish or Thai.
You can chat in the Thales Discord #Sports-talk channel from directly within the dapp. Click on the Discord icon in the lower right corner of the Home page and sign in to your Discord account and you can interact with the community as you review games and purchase positions.
If you don't have USD in your wallet you can swap ETH for USD directly in the dapp by clicking on the "Get USD" button.
You can select your choice of the four by clicking on the arrow in the "to" box. You will need to confirm the transaction and then complete the swap using your connected wallet.
Now you can begin the search for a market you want to participate in. You can click on the date to open a calendar where you can view available markets for each day. You can also select the 3hr, 12hr, 3 days filters. Users have the option to search for an individual game in the search bar, or thet can use the Sports filters on the left side of the screen. There is also the ability to sort by status (Open, Ongoing, Finished or Paused / Cancelled).
Traders can filter markets by individual leagues by selecting a sport to expand the options for available leagues.
Once you've found a market and want to purchase positional tokens, you can either select your position directly from the home screen, or you can view the individual markets page. To select a position from the home page, simply click on the position number to add it to your orders.
To view an individual market's page, click on the Team names:
From here you can view more information for the market, including liquidity for each position and a list of recent transactions for that market shown at the bottom of the page.
You'll also see any other positions available for that market such as Handicap, Double Chance or Total spread positions. Some league even include Same Game Parlay positions that combine outright winner and Total Points spread.
You'll want to understand how pricing works for each position (see Position Pricing) as prices will change when odds are updated.
From an individual market's page, you can review the price, liquidity, skew, and potential profit for a position and amount. Each position (HOME, DRAW, or AWAY) displays the price a trader would have to pay for the chance to redeem 1 USD (or DAI, USDC, or USDT) if they are correct.
For the example in the image below, I've selected 1 for a HOME win (BOURNEMOUTH) at a cost of $0.17 per 1 USD profit and entered 5 USD in the "BUY-IN" field. I would receive about 29.4 HOME tokens for this market. If BOURNEMOUTH win I can return and exchange my 29.4 HOME positional tokens for 28.66 USD. That's a potential profit of $23.66 (which comes to 473.16%). If they lose, my tokens are worthless.
Traders will also want to pay attention the Liquidity for each market (see the Market Liquidity page). Traders can only purchase positional tokens up to the amount within a position's listed liquidity; once it reaches 0 that position will no longer be available to trade.
You can view the available liquidity for a market under the "BUY-IN" field, or by hovering over a position.
Finally, consider the "Skew". Skew is the amount of additional fee applied to positions that are currently providing the most risk to the AMM. The AMM encourages traders to avoid this skew fee by purchasing positions that go against the majority of traders. For example, the odds for the market included in the image above are currently in the favor of ATLANTA UNITED FC winning the match, so to purchase a position for ATLANTA UNITED FC to win, a trader must pay a bit more (0.16%). This amount will change as more positional tokens are purchased from the AMM.
Once you've decided on a position and buy-in amount you're ready to purchase positional tokens. You can choose the collateral type by clicking on its icon. Your connected wallet's balance for each collateral type will be displayed next to the logo.
Once you've selected your position and entered the amount you'd like to buy, click the "APPROVE" button to initiate the approval transaction. Using your wallet provider, approve the transaction so the Overtime protocol can exchange your tokens. Once that transaction is approved, complete the "BUY" transaction to complete the swap.
Be aware the certain Web3 wallets such as Metamask can provide extremely high transaction cost estimates.
You can check the current base fees prior to making a purchase to confirm estimated transaction cost. https://l2fees.info includes estimates for several Layer 2 networks
To purchase a Parlay, select multiple positions from different markets on the home page. See Parlays for more information and guidelines.
Once you've created your Parlay you can purchase the position from the home page by selecting a collateral, entering the amount you want to spend, and completing the transaction.
To purchase a Same Game Parlay position, click on the down arrow and select one of the following:
1 and O (HOME team win and total points OVER the spread)
1 and U (HOME team win and total points UNDER the spread)
2 and O (AWAY team win and total points OVER the spread)
2 and U (AWAY team win and total points UNDER the spread)
Trader's can combine up to 8 positions for individual markets in the ticket builder by selecting the "Single" toggle. Each position can have a different weight, or amount of collateral spent. Once all positions are added, you can see the total Buy-In, Payout and Potential Profit for all of the single positions included in the transaction.
To view all your positions, click on "Profile" from the home page, or use the menu and select "Profile". Now you can view any Open/Claimable positions, as well as your transaction history (sorted by Single Games or Parlay Games).
You can also view your stats such as total number of trades and your total volume.
When you have winning positions to claim you'll see a blue icon with the number of claimable positions inside, next to your profile.
From your Profile you'll see a "Claim" button next to each winning positions, as well as a "Claim All" button. You can also use the "Open/Claimable" filter to show your claimable markets. Winnings not claimed within 30 days of a market being resolved are forfeited.
Complete the transaction to receive sUSD on Optimism or USDC on Arbitrum. Congratulations!
On Optimism you can swap ETH for sUSD, DAI, USDC or USDT.
On Arbitrum you can swap ETH for UDSC.
