P Market

The P Market is for people who want a fixed return and no game.

How it gives a fixed return

P is a claim on 1 BTC paid on the series end date. Because you have to wait, P sells for a little less than 1 BTC.

Example: you buy 1 P for 0.96 BTC today. After the end date you redeem it for 1 BTC. That is a fixed return of about 4.2% for the wait, known the day you buy.

How it is built

• Each series has one P/BTC pool on Mezo's own DEX.
• The JuuPMarket helper creates the pools, shows P's price and the fixed return it implies, and lets you buy or sell P with plain BTC through Mezo's Router.
• As the end date gets closer, P's price moves toward 1 BTC, because anyone holding P can soon redeem it for exactly 1 BTC.

Things to know

• The test pools are tiny. A big buy moves the price a lot. On testnet, a buy of about 10% of a pool's BTC paid more than 1 BTC per P, while a buy of about 2% paid 0.96. Check quoteBuy before buying, and set a minimum amount out.
• The price you pay fixes your return only if you hold P to the end date.