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Overview

A market in the UMA CTF Adapter progresses through various states from initialization to resolution. Understanding these states is crucial for proper market management and integration.

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State Flags

The QuestionData struct tracks market state through several boolean flags:

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Initialized

Indicator: ancillaryData.length > 0 A market is considered initialized when it has been created via the initialize() function. This:
  • Creates a unique questionID from the ancillary data
  • Prepares the condition on the Conditional Tokens Framework
  • Submits a price request to UMA’s Optimistic Oracle
  • Stores all question parameters in the contract
Check: Use isInitialized(questionID) to verify initialization status.

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Paused

Flag: paused A paused market cannot be resolved. Markets can be paused in two ways:
  1. Admin pause: Explicitly paused by an admin via pause(questionID)
  2. Flagged for manual resolution: Automatically paused when flag(questionID) is called
Effects:
  • resolve() will revert with Paused error
  • ready() returns false
  • getExpectedPayouts() will revert with Paused error
Recovery: Admin calls unpause(questionID) or unflag(questionID) (if flagged)

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Flagged

Indicator: manualResolutionTimestamp > 0 A market flagged for manual resolution indicates intervention is needed. This state:
  • Sets paused = true automatically
  • Sets manualResolutionTimestamp = block.timestamp + SAFETY_PERIOD (1 hour)
  • Blocks automatic resolution via UMA Oracle
  • Enables manual resolution after the safety period
Use cases:
  • Oracle malfunction or incorrect price
  • Disputed outcome requiring governance decision
  • Emergency intervention needed
Check: Use isFlagged(questionID) to verify flagged status.

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Resolved

Flag: resolved A resolved market has finalized payouts reported to the CTF. Resolution can happen two ways:
  1. Automatic resolution: Via resolve() after Oracle settles the price
  2. Manual resolution: Via resolveManually() by an admin after safety period
Once resolved:
  • Market is immutable - cannot be reset or re-resolved
  • Payouts are fixed on the Conditional Tokens Framework
  • Users can redeem positions based on the reported payouts

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Reset

Flag: reset Indicates the question has been reset after a dispute. This happens when:
  • A price proposal is disputed on the Optimistic Oracle
  • The priceDisputed() callback is triggered
  • A new price request is submitted with updated requestTimestamp
Important: A question can only be reset once automatically via dispute. Further resets require admin intervention via reset().

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Refund

Flag: refund Marks that the reward should be refunded to the question creator. Set when:
  • A second dispute occurs on an already-reset question
  • The reward needs to be returned on resolution or manual resolution

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State Transitions

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State Validation Matrix

StateCan Resolve?Can Reset?Can Flag?Can Pause?
InitializedYes (if price available)Yes (admin)YesYes
PausedNoYes (admin)Yes (if not flagged)Already paused
FlaggedNo (use manual)Yes (admin)Already flaggedAlready paused
ResolvedNoNoNoNo
ResetYes (new price)Yes (admin)YesYes

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Code References

Key state check functions:
  • Initialization: _isInitialized() at UmaCtfAdapter.sol:455
  • Flagged: _isFlagged() at UmaCtfAdapter.sol:451
  • Ready: _ready() at UmaCtfAdapter.sol:299 - checks all conditions for resolution
  • Has Price: _hasPrice() at UmaCtfAdapter.sol:441 - queries Optimistic Oracle

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Best Practices

  1. Always check initialization before performing operations on a questionID
  2. Monitor the reset flag to track if a market has been disputed
  3. Check ready() status before attempting resolution
  4. Track paused and flagged states separately - flagged implies paused, but paused doesn’t imply flagged
  5. Verify resolved state before attempting any state changes

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