proposed
1. Create & propose
Name your wager, write a crystal-clear description, choose the stake per side, and invite your opponent via email. As soon as you hit create, your stake is validated and locked in the bet pot so you can’t overextend.
How it works
The IBY wager lifecycle
Every bet follows the exact same, auditable path. Funds lock the moment you propose or accept, disputes have fixed timers, and all outcomes are verifiable. For the full spec, check `docs/bet_cycle.md` in the repo.
counter
2. Counter in place (optional)
Like the bet, but not the terms? Make a counter offer! It’s like a whole new bet, but the same opponent — only now you’re issuing the challenge.
funded
3. Opponent accepts
When both sides agree — either on the original terms or an inline counter — the invited opponent accepts. Both stakes plus the flat 1 IBY platform fee are locked, forming the pot. Until someone accepts, the creator can withdraw/delete.
claim_pending
4. Claim the win
When the real-world outcome is known, either side clicks “Claim wager.” The other party now has 72 hours to either concede or dispute.
in_dispute
5. Concede or dispute
Don’t agree? Click “Dispute claim” and post your arguments (with evidence if you have it). Either side can still concede at any point to award the pot immediately.
resolved / arbitration
6. Resolution & arbitration
If no one concedes within 72 hours and there’s no dispute, the claimant wins by default. If a dispute is raised, the clock restarts; if a further 72-hour window ends without a concession, IBY debits the pot an arbitration fee of 1 IBY and sends the bet + all arguments to AI for judgment. AI’s winner gets the pot, and the loser records a “loss by arbitration” on their stats.
Why this matters
- 💰 Pot-first – No one can create, counter, or accept bets they cannot cover.
- ⏱️ Deterministic timers – Claims auto-resolve after 72h of silence; disputes escalate predictably.
- 🔁 Inline transparency – Counters happen in place, refund the original creator before locking the challenger, and leave an audit trail in the bet pot ledger/history.
- 🤝 Actionable UI – Concede, dispute, and argue buttons are always visible with clear outcomes.
- 🧠 AI arbitration – If humans can’t agree, the bet is sent to AI with a full evidence packet.
Ready to make a bet?
Top up your wallet, craft a detailed description, and let IBY handle the escrow, timers, and arbitration.