> For the complete documentation index, see [llms.txt](https://docs.koo.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.koo.xyz/trading/event-futures/sport-match-goal-difference-event-futures.md). # Sport Match(Goal Difference) Event Futures Welcome to Koo.xyz's novel **Sport Match Event Futures (Goal Difference Continuous Delivery Contracts)**. This is a brand-new financial derivative that unifies discrete traditional sports betting outcomes (e.g., Win/Loss, Asian Handicaps, Correct Score) into a single, linear, forward delivery contract on-chain. By mapping sports match outcomes to real-time verifiable and continuously tradeable values on-chain, you are no longer constrained to binary bets (such as "Home Team Win or Loss"). Instead, you trade generalized market expectations on a continuous variable: **"Home Team Net Goal Difference."** *** ### 1. Goal Difference Contracts vs. Traditional Sports Betting | Dimension | Traditional Sports Betting | Koo.xyz Goal Difference Contract | | ------------------------- | -------------------------------------------------------------- | --------------------------------------------------------------------------------------------- | | **Trading Continuity** | Fragmented markets; liquidity splits once the match begins. | ✅ **Full-session continuous order book trading**; close positions anytime to lock in profits. | | **Product Structure** | Handicaps, Moneyline, and Correct Score operate independently. | ✅ **One contract covers all scenarios**, unifying multi-dimensional market expectations. | | **Leverage & Efficiency** | Requires 100% principal upfront; poor capital efficiency. | ✅ **Supports up to 5× dynamic leverage**, offering maximum capital efficiency. | *** ### 2. Contract Specifications | Specifications | Details | Notes | | ------------------------ | ------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------- | | **Contract Type** | Linear Continuous Delivery Contract (USDC Margin) | Follows standard crypto delivery contract trading mechanics. | | **Settlement Currency** | USDC | Margin, position PnL, and final settlement are all denominated in USDC. | | **Symbol Format** | `{Target}_{Home}_{Away}_{DeliveryDate}/USDC` | e.g., `WC2026_BRA_ARG_20260612/USDC` (Brazil vs. Argentina). | | **Base Price** | `10.00` | Represents a Goal Difference of 0 (Absolute Draw). | | **Quote Meaning** | Price = 10 + Home Net Goal Difference | `11.00` = Home wins by 1; `9.00` = Home loses by 1. | | **Tick Size** | `0.01` | Decimal quotes precisely capture live probability fluctuations. | | **Trading Restrictions** | Lock-in phase begins at the last minute of the match (take football mathch as an exmple, the **89th minute)** | After 89 min(for football mathch), only order cancellations are allowed (no new orders or edits). | | **Settlement Price** |

10 + Final Official Net Goal Difference

10 + Final Official Net Goal Difference

| Triggers automated on-chain settlement post-match via oracle feeds. | | **Max Leverage** |

Pre-match: Up to 3×
Live match: Up to 5×

| System automatically shifts risk limits in live match to boost capital efficiency. | | **Funding Rate** | **None** (Delivery Contract) | Standard delivery fees apply only at final settlement. | *** ### 3. Pricing & Index Mechanism To ensure market fairness and prevent manipulation from single data sources, Koo.xyz utilizes a **Two-Phase Independent Index Pricing** framework: #### 3.1 Pre-Match Phase * **Index Price:** $$\text{Index} = 10 - \text{Expected Home Net Goal Difference}$$ * **Data Source:** Pre-match oracle feeds aggregate handicap data from multiple sports institutions. The median value within a validated range is extracted as the "Expected Home Net Goal Difference," ensuring absolute objectivity. * **Mark Price:** Calculated using a 5-minute Moving Average (MA). If no recent trades occur, it smoothly defaults to the order book mid-price. #### 3.2 Live Match Phase * **Index Price Smooth Transition:** To prevent sudden price gaps at kickoff between pre-match predictions and real-time scores, the system applies a time-weighted decay factor $$\alpha$$ :$$\text{Index} = \alpha \times (10 + \text{Actual Home Goal Difference}) + (1 - \alpha) \times (10 - \text{Predicted Home Goal Difference})$$ *Once the match passes 90 minutes (including injury time), the Index Price is driven 100% by the live actual score.* * **Mark Price:** Calculated as $$\text{Index} + \text{MA}(\text{Basis}, 2.5\text{ min})$$ , used for real-time unrealized PnL and maintenance margin checks. *** ### 4. PnL Calculation & Settlement Examples Because it operates as a standard linear contract, PnL mechanics follow conventional derivative rules: * **Go Long (Buy):** Expect Home Team to perform better than market expectations (win by more goals or lose by fewer). * **Go Short (Sell):** Expect Away Team to perform better than market expectations (Home wins by fewer or Away wins directly). #### Case Study Suppose you open a position in `WC2026_BRA_ARG_20260701/USDC` at an entry price of **10.50** (representing a market expectation of Brazil -0.5) with **5× leverage**. Initial margin = **$2.10 / contract**. **Scenario A: Match ends Brazil 2 - 1 Argentina (Brazil wins by +1 goal)** * **Settlement Triggered:** Final Settlement Price = 10 + (2 - 1) = 11.00. * **Long Position PnL:** Price rises from 10.50 to 11.00 (+0.50 pts). Profit = **+$0.50 / contract** (+23.8% ROI on margin, pre-fees). * **Short Position PnL:** Loss = **-$0.50 / contract** (-23.8% ROI on margin). **Scenario B: Match ends Brazil 1 - 1 Argentina (Draw, Goal Difference = 0)** * **Settlement Triggered:** Final Settlement Price = 10 + (1 - 1) = 10.00. * **Long Position PnL:** Price drops from 10.50 to 10.00 (-0.50 pts). Loss = **-$0.50 / contract** (-23.8% ROI on margin). * **Short Position PnL:** Profit = **+$0.50 / contract** (+23.8% ROI on margin). *** ### 5. Frequently Asked Questions (FAQ) **Q1: Why is the Base Price set to 10 instead of 0?** **A:** `10` serves as a numerical anchor representing a "Draw (Goal Difference = 0)." In financial trading interfaces, negative quotes (e.g., -2 if the home team loses by 2) break candlestick charts, matching engine algorithms, and risk liquidation models. Anchoring at 10 keeps all prices strictly positive (e.g., 8.00 to 13.00), allowing quantitative strategies and trading infrastructure to function seamlessly. **Q2: How do fractional prices like 0.01 tick size work when soccer goals are integers?** **A:** While the final post-match settlement price will always be an integer (e.g., 10.00, 11.00, 8.00), live contract prices represent **probabilities and market expectations** during the match. Oracle handicap medians (e.g., -0.5, -1.25) inherently carry decimals, and live decay calculations generate continuous values. The 0.01 tick size precisely captures real-time probability shifts as match momentum changes minute by minute. **Q3: Can I transfer positions in this contract via my NFT Account?** **A:** **Yes!** Goal Difference Contracts are fully integrated into the **Koo.xyz NFT Account system**. You can sell or transfer your entire Account NFT—including its open positions, unrealized PnL, and USDC margin—on secondary marketplaces mid-game. *(Note: Transfers are restricted if the account is in the post-89th-minute delivery lock phase or near forced liquidation).* **Q4: How are Extra Time and Penalty Shootouts handled?** **A:** Final contract settlement is strictly based on the official score at the end of **Regular Time (including injury/stoppage time)**. Any goals scored during Extra Time or Penalty Shootouts are **not included** in the contract settlement price calculation. **Q5: What happens if a match is abandoned, postponed, or canceled?** **A:** If a match is officially halted or canceled mid-game by governing bodies, the contract will undergo emergency settlement at the **Base Price (10.00)**, returning equity to account holders accordingly. **Q6: Are there extreme boundary limits for goal differences?** **A:** Yes. If the final net goal difference exceeds +10 or -10, the contract settlement price will be capped at **20.00** (upper bound) or **0.01** (lower bound), respectively. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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