bellSet an opening price

Getting started

What is Bell

Markets on where a company's shares open on their first day, traded in USDC on Solana before the listing.

Bell lets anyone with a Solana wallet take a side on a company's opening price before the company lists. Each market splits a range of prices into bands. Every band has two tokens, UP and DOWN, and once the opening price is known each one redeems for its share of the band in USDC.

$40–45UP 4.86DOWN 0.14$45–50UP 4.25DOWN 0.75$50–55UP 2.96DOWN 2.04$55–60UP 1.53DOWN 3.47$60–65UP 0.58DOWN 4.42$65–70UP 0.17DOWN 4.83$40$45$50$55$60$65$70
The example market used throughout these docs: Kestrel Orbital, six $5 bands from $40 to $70, each split at its UP price.

How a market runs

  1. A market opens for one company with a ladder of price bands, an end date and the Pyth price feed it will settle on.
  2. While it trades, you can mint a band's UP and DOWN from USDC, trade them in the band's order books, or buy a whole position around one price with the slider.
  3. When the company lists, the market authority records the time of its first trade. The opening price is the 30-minute average of the Pyth price from that moment.
  4. Each UP and DOWN redeems for its part of its band at that price. With no listing by the end date, every band pays its midpoint.

Where to start