How to use the command line interface

Create Quote

Note: This page describes how to use the 'mtm' command line executable. This binary is currently available for Linux only

To use mtm from the command line, you must have a synced Microtick node and you should to set the MTM_HOME environment variable to the same directory your synced node is using if it's not using the default location, for example:

$ export MTM_HOME=$HOME/testnet

Usage

$ mtm tx microtick create-quote <market_id> [duration] [backing] [spot] [premium]

Description

Creates a quote on the given market id. Note that if the market does not exist, it will be created automatically.

Duration

5minute, 15minute, 1hour, 4hour or 12hour

Backing

Token amount to transfer into the quote. Example 10atom

Spot

Spot price for the quote. Example: 1760spot

Premium

Premium for the quote. Example: 1premium

Quote Invariants

There are restrictions involved when choosing backing, spot and premium for a quote. These are called the "2x Invariants" and are as follows:

  • Spot 2x limitation.  A quote cannot be placed that will become a free call or put on the resulting order book. This protects the party placing the quote as well as limits the spot to be within 2x of the quoted premium of the resultant consensus.
  • Time 2x limitation.  A quote must be updated within 2x the time duration or anyone may cancel it and collect a percentage of the backing for the quote.  This helps ensure stagnant quotes will be removed from the marketplace.
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Effective Jan. 1, 2022: the Microtick project is now a decentralized autonomous organization (DAO)
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