How it works
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.
proposed
Name your wager, write a crystal-clear description, choose your risk and the other side’s risk, and invite your opponent via email. As soon as you hit create, your risk is validated and locked in the bet pot so you can’t overextend.
counter
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
When both sides agree — either on the original terms or an inline counter — the invited opponent accepts. Both stakes plus the flat §1 platform fee are locked, forming the pot. Until someone accepts, the creator can withdraw/delete.
claim_pending
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
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
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 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.
Top up your wallet, craft a detailed description, and let IBY handle the escrow, timers, and arbitration.