Antistaking · full mechanics · also known as Conviction Market

A market where words are backed by money

The seller makes a claim: “this will sell for this price by this date.” They put down a deposit and right away announce a reward—a share of the sale price—for the people who put money in alongside them and help sell. These are the supporters. The people who bet against are the doubters. The argument is the lot’s advertising, and it springs up on its own: live, with money on the line, and the seller doesn’t pay for it.

Seller’s remaining deposit Doubters’ pot now lot listed time → deadline
Every day without a sale moves the line: the deposit drips, bit by bit, into the doubters’ pot. If the sale happens, the seller gets back part of what has dripped—40–55%, depending on what’s being sold: 40% for NFTs, 55% for expensive items; the platform keeps the rest. If there’s no sale by the deadline, the whole pot goes to the doubters for good.
The project is called Antistaking—“staking in reverse.” Staking is when you lock money into someone’s project and earn a percentage if it succeeds. Here it’s the other way round: the seller locks money behind their own promise and loses it if the promise doesn’t come true. Every word on this page is explained in the glossary at the bottom.
Prologue

Why bother?

Today a seller’s words are worth nothing: ads are bought, reviews are faked, and everyone writes “it’s about to take off.” A buyer can’t tell confidence from hot air.

Here confidence costs money. The seller publicly claims, “this will sell for this price by this date,” and puts down a deposit to back it up. Day after day, the deposit slowly drips away to the doubters until the sale happens. Anyone can join either side of the bet, and the bet itself advertises the lot—live, with money on the line, and at no cost to the seller.

For the seller: marketing you pay for only if it works

When listing a lot, the seller announces up front a reward—a share of the sale price—for whoever helps sell it. From there it’s simple:
· it sells—you pay the reward and the fee, like a referral fee; you get back what’s left of the deposit and 40–55% of what dripped;
· it doesn’t sell—the deposit has dripped away to the doubters, but no reward is paid at all: there was no sale;
· you can fail for two different reasons: the price is too high, or the item is weak—and the market will show which one it is;
· you can’t just add the reward on top of the price: supporters won’t back an overpriced lot.

For the supporter: a share of the reward for belief and effort

You bet on the sale—so now it pays to help make it happen: tell people about it, bring in a buyer. If it sells, you get your share of the announced reward, by how much you put in × how long you held it (and 40–55% of the drop that has already dripped comes back; the platform keeps the rest). If it doesn’t, you get everything back except a small drop known in advance: the drop filters out people who don’t really believe. A small stake means a small share—exactly how small is worked out in “The honest truth about supporters.”

For the doubter: a return for being right

See an empty promise? Bet against it and take the dripped deposit if you turn out to be right. If you’re wrong, you lose time, a small fee and the interest you could have earned elsewhere—but not your own money.

For buyers and onlookers: an honesty detector

Instead of star ratings and fake reviews—real money: you can see how much is staked on “it will sell” and how much against. Bets don’t lie: lying would cost too much.

In one sentence: a market where words are backed by money—and the argument over the price turns out to be the best advertising the item can get.

Before you read the numbers

How the math works, in brief

“Frozen”—what does that mean?

Stakes on both sides—“for” and “against”—sit in a shared safe for as long as they’re in (you can pull out at any moment). Nobody spends them, and they go back to their owners: doubters get theirs in full, supporters minus a small drop announced in advance. The seller’s deposit comes back like this: if it sells, what’s left of it comes back plus part of what dripped (40% for NFTs, 55% for expensive items, the platform keeps the rest); if it doesn’t, what dripped stays with the doubters for good. While the bet is live, all this money is tied up in the lot: everyone who put it in is an interested onlooker. Ordinary advertising buys a second of attention; here money holds the attention for as long as the stakes are in.

How the reward and the pot are split

The reward is shared, and it’s split by the rule “how much you put in × how long you held it.” The doubters’ pot is split by the same rule. Say you put $10,000 on a Lamborghini selling while the “for” side totals only $60,000: your share of the $15,000 reward is $2,500. Then a crowd rushes in and the total grows to $600,000—now your share is $250. The early and the patient get the most; early entrants earn outsized returns, and that draws the crowd in on its own; as the crowd arrives, the edge fades. Once the market settles, both sides earn ordinary market interest—but that whole crowd has money riding on the lot. That’s exactly what we want.

Act 1

Who’s who

Seller

Sets the price and the deadline, puts down a deposit and announces the reward up front—a share of the sale price for supporters. If it sells, the seller gets back what’s left of the deposit plus 40–55% of what dripped, and pays the reward out of the price. If it doesn’t, the deposit has dripped away to the doubters, and no reward is paid: there’s nothing to pay it from.

Supporter

Puts their own money into the shared “it will sell” pool—and isn’t just allowed to promote the lot, but has every reason to. If it sells, supporters split the announced reward by how much they put in × how long they held it, and 40–55% of the drop that has dripped comes back to them (the platform keeps the rest). If it doesn’t, they get everything back except the drop known in advance (a small share of the stake that goes to the doubters) and the entry fee.

Doubter

Bets that the sale WON’T happen: freezes money against the lot. If they’re right, they take what has dripped. If they’re wrong, they get the stake back in full and lose only the entry fee and time: while the stake is in, the money is frozen. They can leave at any moment—the stake comes back right away, and the share of the pot they earned before leaving stays theirs if the lot never sells. That’s the price of their vote.

The platform (protocol)

Earns either way, but not equally. If the sale fails—only fees. If it sells—also the part of what dripped that didn’t go back to its owners (45–60%). So a sale pays it better: in the Lamborghini example below, about $15,900 on a sale versus $3,100 on a failure; in the demo lot, 0.156 ETH versus 0.018 ETH. That’s by design: the platform earns when things sell, so it has a reason to bring in buyers. And it can’t confirm a sale by itself: in the first version, the contract does that.

Seed stakes

Small stakes from the platform itself on both sides of a new lot—so the game gets going even before any live players arrive. Winnings go to the fund for participation points (rewards for early participants); losses are the platform’s cost of getting things started. A one-way valve, and it applies only to seed stakes: they can lose money to the market, but whatever they win never reaches the platform’s pocket. The platform’s income is a separate thing: its stated fees and, on a sale, the part of what dripped that it keeps (see the card above).

Buyer

The person who actually buys the asset. If they show up before the deadline, that’s the moment of truth: “sold.”

Both sides can argue out loud—and both back their words with money. Supporters praise the lot so it sells. Doubters, for their part, want more supporters to show up: every supporter’s stake feeds a drop into the doubters’ pot. Trashing the lot from day one would scare the supporters off, and the pot would shrink. So doubters usually stay quiet and speak up closer to the deadline. This argument is free advertising for the lot.

Act 2

Where the money flows

The seller has three separate money streams. Don’t mix them up—each one has its own job. On top of that, the platform hands out points—but those aren’t the seller’s money (more on them below).

Sellerprice · deadline · deposit · reward—all announced up front

1 · Deposit

Drips bit by bit—continuously, at a rate known in advance, for as long as the lot is up. The whole stream goes into the doubters’ shared pot; the seed stake makes sure the pot is never empty.

→ to the doubters’ pot

2 · Reward—a share of the sale price

Announced when the lot is listed, paid only if it sells, out of the money from the sale. Split among the supporters: whoever got in earlier and held longer gets more.

→ to supporters

3 · Fee

A percentage of the sale + a small cut of everything that dripped from the deposit. On a sale, the platform also keeps the part of what dripped that doesn’t go back.

→ to the platform

Plus points from the platform—not the seller’s money

Points reward participation. The platform itself gives them to early participants to get the market going. There is no token, and there won’t be one until the mechanics are proven. Three rules: the mechanics have to work without points; points are awarded for how much you put in × how long you held it, not for clicks; and they’re handed out in proportion to the fees paid, so pumping up fake activity doesn’t pay: whoever farms points pays for their own prize.

The three streams form a closed system: whatever one side loses, another gains. No money is printed out of thin air.

Act 3

The life of one lot

STEP 1

Lot listed

The seller has announced the price, the deadline and the supporter reward; the deposit is locked in the contract.

STEP 2

Seed stakes get it going

The platform puts a little on both sides—the deposit starts dripping, and the market is alive from the first minute.

STEP 3

The sides take their places

Doubters freeze money against the lot, supporters bet on it and bring in buyers. You can join and leave at any moment: your stake comes back right away when you leave.

STEP 4

The deposit drips

The rate is known in advance. The stream is split among the doubters by how much they put in × how long they held it—and the market’s distrust shows in the ratios, not the raw amount: how much is staked against per dollar in the pot, and how “against” compares with “for.” The raw amount against grows with the deposit itself, since a bigger deposit draws more doubters.

STEP 5

The finish

Either a buyer shows up before the deadline or nobody does. There’s no third option.

✓ Sold before the deadline

  • Seller: gets the price, minus the announced reward and the fee. Gets back what’s left of the deposit and part of what dripped: 40% for NFTs, 55% for expensive items.
  • Supporters: split the announced reward by how much they put in × how long they held it; their stakes come back almost in full—the same 40–55% of their drop comes back to them too.
  • Doubters: don’t get the pot—they were wrong. But a doubter never loses a cent of their stake: stakes come back in full, and all they pay is the entry fee (plus their money was frozen while the stake was in).
  • Platform: the sale fee + the part of what dripped that it keeps. That part is why buying from yourself doesn’t pay.

⏳ Not sold by the deadline

  • Doubters: the pot becomes theirs—each gets a share by how much they put in × how long they held it, including those who left early. Being right pays.
  • Seller: by the deadline the whole deposit has dripped away—all of it to the doubters (minus the platform fee). Pays no reward: there was no sale.
  • Supporters: their stakes come back minus the drop known in advance—it went into the doubters’ pot.
  • Platform: has already collected its fee on everything that dripped (the deposit and the supporters’ drops) along the way, plus the entry fees—and nothing more.

The key to honesty: both sides of the bet risk time, fees and earnings; supporters also risk a drop known in advance. Only one person risks the deposit itself: the seller, backing their own claim. That’s what makes this a market that holds sellers to their word.

Act 4 · five examples

Same bet, very different stories

What each side pays and what it gets. All five examples were calculated by our simulation engine under the current rules, each with the settings for its type of item. In the other four examples, the sale happens 60% of the way to the deadline.

Lamborghini

price $300,000 · deadline 45 days

This is how it would work for real-world things that aren’t on a blockchain. The first version covers NFTs and tokens only (for why, see “Who confirms the sale”).

The dealer is sure: “It’ll go for three hundred grand within a month and a half, tops.” Too sure, a lot of people think.

dealer’s deposit $15,000—5% of the price, drips every day announced supporter reward $15,000 out of the sale price
~$900,000
tied up in the bet: $300,000 “against” + $600,000 “for”
$15,000
supporter reward on a sale—split among all of them by how much they put in × how long they held it
$31,400
the doubters’ pot if it fails: the dealer’s dripped deposit $14,300 + supporters’ drops $17,100 (each gives up 3% of their stake); split by “how much you put in × how long you held it”
$24,000
what success costs the dealer (the reward, the platform fee, the part of the dripped deposit that doesn’t come back)—8% of the price, like a dealership’s commission
−$15,000
failure for the dealer: the whole deposit is gone—$14,300 to the doubters’ pot, ~$700 in platform fees
Supporter: a car blogger stakes $2,000, films a review and sends buyers over—their share of the reward grows with every day the stake stays in. Doubter: a reseller who knows the price is 15% too high—freezes money and waits.

How much of this goes to the blogger (about $50) and to a large supporter—the numbers are in “The honest truth about supporters.”

An apartment certificate

price $150,000 · deadline 3 months

The developer: “This lot will go at the list price within a quarter.” The market is sluggish, and there are plenty of doubters.

deposit $4,500—3% of the price announced reward $4,500 out of the sale price
$4,500
supporter reward on a sale
$4,275
to the doubters’ pot from the deposit if it fails (plus the supporters’ drops)
$7,965
the cost of success—5.3% of the price, within a real estate agent’s usual commission (3–6%)
−$4,500
failure for the developer
Supporter: a local agent who stakes and brings in a buyer; their share of the reward grows with how much they put in and how long they held it. Doubter: a housing-market analyst with fresh data on the neighborhood.

An NFT artwork

price $10,000 · deadline 7 days

The artist: “This piece will go for ten grand within a week.” Crypto Twitter is already placing bets.

deposit $1,500—15% of the price! announced reward $800
$800
supporter reward on a sale
$1,425
to the doubters’ pot from the deposit if it fails (plus the supporters’ drops)
$1,490
the cost of success for the artist—14.9% of the price, at the top of the usual cost of a marketplace plus promotion (10–15%)
−$1,500
the cost of failure. If you don’t believe in it yourself, this is the most expensive ad of your life
Supporter: a collector with an audience—pushes the piece without buying it. Doubter: anyone who’s tired of the word “masterpiece.” Now it’s their turn.

An allowlist spot in a presale

price $5,000 · deadline 5 days

A project sells spots on its presale allowlist (whitelist). Lots of people want in—but there are lots of scam projects around, too.

deposit $400—8% of the price announced reward $350
$350
supporter reward on a sale
$380
to the doubters’ pot from the deposit if it fails (plus the supporters’ drops)
$545
the cost of success for the seller—10.9% of the price
−$400
the cost of failure
Here the doubter is a scam detector: if serious money lines up against a “super project,” everyone can see it, for free.

An indie band’s concert

500 tickets × $40 = $20,000 · deadline one month

The band promises: “We’ll pack the venue—all 500 tickets will be gone within a month.” A local promoter smirks: “Nobody in this town knows who you are.”

the band’s deposit $1,600—8% of ticket sales announced fan reward $1,400 out of the sale price
$1,400
fan reward on a sellout—split by how much they put in × how long they held it
$1,520
to the doubters’ pot from the deposit if the venue doesn’t fill up (plus the fans’ drops)
$2,180
the cost of success—10.9% of ticket sales, close to a typical launch referral fee (~10%)
−$1,600
the cost of failure
The supporters are the fans themselves: they repost, drag their friends along, and for the first time their love for the band is also a stake with a reward. Why this interests us: “sold” here isn’t a single item but a threshold (“all tickets bought by the date”). A book’s print run, a board game, a batch of sneakers work the same way—a whole world of small creators who can’t afford ad campaigns.
Act 5 · attention

An attention magnet

A dollar spent on ordinary advertising freezes nothing around the product. Here everyone who placed a stake is an interested onlooker until the deadline.

The money that gathers around a bet can be many times what the seller spends—that’s a ceiling, not a forecast: how much actually comes is up to the market.

The model points to one pattern: a lot with a short deadline draws more money per dollar the seller spends than a long one. But the first lots will gather less than the ceiling—the market starts out empty, and it will have to be kick-started with seed stakes and points.

Act 6 · sandbox

Settings simulator

All the platform’s settings in one place. The lot and rule sliders are next to the chart; the controls under the chart change the chart itself. It’s a simplified model for getting a feel for what depends on what; its numbers are illustrative, not real.

Lot

The lot price is fixed: 10,000 coins. Everything else is a share of it, so the zeros don’t change the picture.

Platform rules

bp means basis point, a hundredth of a percent: 10 bp = 0.1% of the stake.

Market

The market base rate is the yearly interest the same money would earn almost risk-free somewhere else (in a savings account, say). Doubters’ earnings are measured against it.

How the deposit drips
Outcome
The same curves as a table
Time passedFast startLinearFinal sprint
Doubters, if they’re right
The break-even odds for getting in
Seller’s costs
The platform in this scenario

The four rows always add up to zero: no money is printed, it only changes hands. Left out: the lot price (a transfer from buyer to seller) and the stakes themselves—doubters get theirs back in full, supporters minus the drop (it shows in their row). Points aren’t modeled.

Act 7 · why this isn’t a casino

One principle behind every lock

“Whatever you can gain by cheating must cost you more than that—in money you never get back”

1 · Only the seller’s deposit can be lost

Doubters’ stakes come back in full; supporters’ stakes come back minus a small drop announced in advance (it filters out people who don’t really believe). Only one person takes a big risk: the one who made the promise.

2 · Cheating costs more than giving up

Want out of a promise that’s failing? There’s an honest “I give up” button with a clear price: withdraw the lot early and pay the penalty. Faking a sale to yourself costs more: the fee, what the platform keeps and the reward to the real supporters are all paid for real. We don’t catch cheaters—we send them the bill.

3 · You can influence the outcome—and that’s legal

On ordinary prediction markets, influencing the outcome is forbidden. Here, promoting the lot is the game: a supporter brings the sale closer by doing the work, a doubter stress-tests the promise. It’s work, not roulette.

Act 8

How we’ll fight cheaters

We don’t catch cheaters here—we send them the bill. Before writing any contracts, we set simulated cheaters on the mechanics: they know everything and pick the most profitable trick. We found nine ways to cheat. Eight have been calculated: usually cheating costs more than the legitimate path, and where a gap remains, we say so plainly (as with list-and-cancel below). One (drop outsourcing—a service pays the drop for supporters and splits the reward) is still open: nobody in the industry has a ready fix. Here are the three main ones:

Fake sale

The seller “sells” the lot to themselves through a second wallet, to fake a success and save the deposit that’s dripping away.

Defense: the fee + the part of what dripped that doesn’t come back. The margin—how much more a fake costs than giving up early—doesn’t depend on the number of doubters and gets thinner toward the deadline (in the demo lot, about 8.5% of the price on day one and about 3.7% at the very end), but it never disappears: giving up early is cheaper than a fake on any day.

Planted supporters (shills)

The same seller bets “for” themselves from other wallets, to take the reward back when a real sale happens.

Defense: reward shares are weighted by how much you put in × how long you held it, and a planted stake itself loses the part of the drop that doesn’t come back—and the reward is the seller’s own money anyway: a fake can’t take anyone else’s. To be clear: this is a residual risk, but it has a ceiling. The cheater shortchanges their real supporters on part of the reward—in the demo lot, no more than about 3.6% of the price; beyond that, the drop on the planted stakes eats the profit. The fix: before the reward is paid out, check whether the stakes came from the seller’s wallets, plus reputation (more in the FAQ).

List-and-cancel

The seller bets “against” themselves, keeps listing and pulling lots, and pockets the drops of the honest supporters they lured in. The cancellation compensation goes from the seller to themselves.

Defense: without bait, this game costs the cheater about nine times more than the harm it does. Still, a gap remains here. If real supporters came to the lot, the cheater makes about 0.4–1% of the price per cycle. The fix: everyone can see the history of cancellations, and people stop trusting a serial canceler; plus a small fee for listing a lot—it has been designed but isn’t switched on yet (the author’s call).

All nine ways—with the numbers “your result versus the honest path”—are in the demo lot: try to cheat.

Reference

Glossary—every word in plain English

Money and mechanics

Antistaking
The project’s name: “staking in reverse.” Staking is when you lock money into someone’s project and earn a percentage if it succeeds. Here the seller locks money—a deposit—behind their own promise.
The deposit drips
The slow flow of the seller’s deposit into the doubters’ pot—bit by bit, continuously, until the lot sells. (In the contracts it happens block by block, but that’s an implementation detail.) Don’t confuse it with the “drop”—that’s the name for a share of a supporter’s stake, see below.
Yield dilution
The stream from the deposit is shared by everyone: a lone doubter earns an outsized return; as more pile in, each one’s share shrinks. New money stops coming in by itself once the return falls to the ordinary market rate. That’s why the amount of frozen money shows how much the market distrusts the seller.
Doubters’ pot
Everything that has dripped: the seller’s deposit and the supporters’ drops. There’s no other word for it—“pot” always means this one thing. It becomes the doubters’ property only at the deadline—and only if the lot hasn’t sold. Until then it’s “earnings on paper” (a deferred right like this is called vesting).
How much you put in × how long you held it
The measure of taking part: how much money you had in and for how long. It’s what splits the doubters’ pot, the supporter reward and the points. It’s counted continuously.
Reward
A share of the sale price that the seller announces right when listing the lot. Paid only if it sells— no sale, no reward. Split among supporters by how much they put in × how long they held it.
Supporters’ stakes
The money put in by people betting “it will sell.” Over the whole life of the lot, only a small announced drop leaves the stake—the rest comes back whatever happens. Don’t confuse it with the deposit.
Drop
The share of a supporter’s stake that drips away bit by bit while the lot is unsold; its size over the full run is known in advance. Where it ends up depends on the outcome: if the lot doesn’t sell, the whole drop goes to the doubters; if it sells, 40–55% of what has dripped comes back to the supporter and the platform keeps the rest (see “Refund on sale”). “Drop” is only about supporters; for the seller’s deposit we say “the deposit drips.” The bigger the drop, the more strongly you have to believe in the sale for getting in to pay off: the platform literally chooses how convinced it wants a lot’s supporters to be.
Refund on sale
On a sale, part of what has dripped—the seller’s deposit and the supporters’ drops—goes back to its owners: 40–55%, depending on what’s being sold (40% for NFTs, 50% for tickets and presale allowlist spots, 55% for expensive items and real estate). The platform keeps the rest—45–60%. It can’t give back more, or selling to yourself would become cheaper than giving up early.
Giving up early
The seller’s legitimate exit before the deadline: they hand over what has dripped plus a small compensation payment to the doubters. Always cheaper than a fake sale.
Subsidies / incentives
Extra points paid by the platform itself to early participants. A boost to get things going: it fades over time, and the mechanics have to work without it.
Points
Participation points from the platform itself. There is no token, and there won’t be one until the mechanics are proven.
Iron rule
A rule that must always hold, under any settings. Our main one: a “sale” can never let you take more of other people’s money than it costs to fake that sale.

Attacks and security jargon

Wash sale / fake sale
Selling to yourself from another wallet so that the lot counts as “sold” on paper.
Farming
Pumping up activity to collect rewards, without really taking part. “Farming points” = milking the reward system.
FUD
Fear, uncertainty and doubt: spreading negativity for profit rather than for the truth. Here the war between doubters’ FUD and supporters’ cheerleading is a legal sport: both sides back their words with money.
Seed stake
The platform’s own automatic stake: a small fixed amount on both sides of every new lot. It has exactly one job—getting things started (so the deposit starts dripping and the game begins right away). It is never platform income—its winnings go to the fund for participation points.
Ring-fencing
What makes the seed stake safe: its winnings don’t go into the platform’s income, they go to the points fund. The seed stake itself gives the platform no interest in how the bet ends. Still, the platform does have an interest— it earns more on a sale than on a failure (see the “The platform” card above).
Reference

Settings cheat sheet

Every setting in the mechanics, in one table—who sets it and what it means.

SettingIn plain wordsWho sets it
Price and deadlineThe claimed price and the deadline by which the lot should sellseller
DepositThe seller’s money behind the promise; drips to the doubters until the lot sellsseller
RewardA share of the sale price for supporters, announced when the lot is listedseller, within the rules
Drip shapeHow fast and along what curve the deposit drips; known in advanceplatform rule
DropThe share of a supporter’s stake that drips over the lot’s full run: on a failure it goes to the doubters, on a sale part of it comes back (see the next row)platform rule
Refund on saleWhat share of what dripped goes back to its owners if the sale happensplatform rule
Sale feeA percentage of the priceplatform income
Drip feeThe platform’s cut of everything that dripped—both the deposit and the supporters’ drops. Taken once, when it lands in the pot; after that the pot is clean, with no double chargeplatform income
Entry feesFees on both sides’ stakes—fractions of a percent. If you guess wrong, this is what you loseplatform income
Doubter penaltyPaid by a doubter if the sale happens. Zero by default; if it’s ever switched on, the money only gets burnedbackup setting
PointsHow many points per unit of fees paidstart-up boost, fades out
Seed stakesThe size of the platform’s stakes for the doubters and for the supporterskick-starts an empty market
Where we deliberately don’t go: anything where “sold” depends on an outside exchange price (options and the like)—there the outcome can be nudged from outside, and we don’t like that.
All five examples were calculated by the simulation engine under the current rules (the lambo_example and class_examples scripts in the calculation archive). In real life the sums riding on a lot will be more modest—this is a ceiling, not a forecast for the first week.