One Touch
The One Touch settler resolves markets based on whether a value touches a target level at any point before expiry.
What is a One Touch Market?
A One Touch market asks: will the price of an asset reach a specific target level at any point before the market expires?
Unlike Above/Below (which only checks the price at expiry), One Touch monitors the price continuously throughout the market's lifetime. If the target is touched even once, the outcome is determined.
- Yes (pays $10 per contract) if the price touches the target at any time before expiry
- No (pays $0 per contract) if the price never reaches the target
One Touch is path-dependent. It does not matter where the price ends up at expiry. The only thing that matters is whether the target was hit at any point during the observation period.
How It Works
Market is created with a target level and expiry
For example: "Will BTC touch $120,000 before August 1?"
You buy or sell contracts at the current market price
If the market trades at $2.80, the crowd implies a ~28% chance of BTC reaching $120,000 before expiry.
The oracle monitors the price throughout the period
Pyth Network provides continuous price observations for the underlying asset.
The market resolves
- If BTC touched $120,000 at any point: resolves Yes ($10 per contract).
- If BTC never reached $120,000: resolves No ($0 per contract).
Resolution
The settler contract checks whether the oracle price ever met or exceeded the target level during the observation window:
max(price) >= target(for upside targets) resolves Yes- If the target was never reached, resolves No
Resolution is permissionless. Anyone can submit oracle proof showing the target was touched, or submit proof after expiry showing it was never reached.
One Touch markets can resolve early. As soon as the target is hit, the outcome is known, even if the expiry date has not been reached yet.
Example Markets
| Market | Target | Expiry |
|---|---|---|
| Will BTC touch $120,000? | $120,000 | Aug 1, 2025 |
| Will ETH touch $5,000? | $5,000 | Jun 30, 2025 |
| Will SOL touch $300? | $300 | Sep 15, 2025 |
P&L Scenarios
Suppose you buy 10 contracts of "BTC touches $120,000 before Aug 1" at $2.80 each:
| Outcome | Result | Payout per Contract | Your P&L |
|---|---|---|---|
| BTC hits $120,000 on day 15 | Yes | $10.00 | (10 x $10) - (10 x $2.80) = +$72.00 |
| BTC peaks at $119,500, never reaches target | No | $0.00 | (10 x $0) - (10 x $2.80) = -$28.00 |
Key Differences from Above/Below
| Feature | Above/Below | One Touch |
|---|---|---|
| What matters | Price at expiry only | Price at any point before expiry |
| Can resolve early? | No | Yes (if target is hit) |
| Path-dependent? | No | Yes |
| Typical use case | Directional bet on final price | Betting on volatility or spikes |