# Introducing Mikoshi

*Binary Options on Oasys, powered by Saisen*

By [Mikoshi](https://paragraph.com/@mikoshi) · 2025-12-25

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We're excited to introduce our upcoming protocol, Mikoshi, which is a binary option market on Oasys powered by Saisen.

**Mikoshi aims to provide a fast, game-like trading experience that accelerates activity and liquidity within the Oasys ecosystem.**

What is Mikoshi
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Mikoshi is a short-term binary options market on Oasys, where users predict the price movement of crypto assets over the next few minutes.

Users place bets in **pOAS** on either **“UP”** or **“DOWN.”**

If the price moves in the selected direction at the settlement time, the user wins a payout in **pOAS**. If not, the user loses the amount they bet.

### **Key Features**

*   **Simple gameplay:** Just choose UP or DOWN
    
*   **Fixed multiplier payout:** Win **1.7x** when correct
    
*   **Fast results:** Short timeframes & rapid settlement cycles
    
*   **Vault-based liquidity:** Rewards paid from an on-chain house vault
    
*   **pOAS-based economy:** Designed for high turnover & liquidity circulation inside Oasys
    

### **Trading Time**

Users can choose settlement duration:

*   **1 minute**
    
*   **3 minutes**
    
*   **5 minutes**
    

### **Underlying Assets**

Currently supported:

*   **BTC**
    
*   **ETH**
    

### Bet Size

  

**Amount**

**Minimum Bet**

10 pOAS

**Maximum Bet**

20,000 pOAS

### **Payout Structure**

Mikoshi uses a **fixed-multiplier payout** model.

**Payout rate:** 1.70x

> **Platform fee:** 15% (deducted from the bet amount)  
> Effective stake = Bet × 0.85  
> Payout if win = Effective stake × 2.0 = **Bet × 1.70**

How It Works
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Mikoshi operates using an on-chain **Liquidity Vault**, external **oracle price feeds**, and a **fixed fee model**. This section explains the core mechanics behind the product.

### Liquidity Vault

All payouts are made from a dedicated **Vault** that acts as the counterparty to users’ bets.

*   Liquidity is pre-funded by the house
    
*   When users lose, the lost amount is added to the Vault
    
*   When users win, payouts are taken from the Vault
    

### Oracle

Price settlement uses **aggregated external oracle sources** to ensure fairness and resistance to manipulation.

We reference multiple feeds, including:

*   **Hyperliquid**
    
*   **Aerodrome**
    

The settlement price is determined from the aggregated feed at the exact settlement timestamp.

### Fees

Mikoshi applies a **15% fee** on the bet amount.

How to Play Mikoshi
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Mikoshi is simple — just predict whether the price will go **UP** or **DOWN** within a short time window.

### **1\. Select Asset**

Choose the underlying asset:

*   **BTC**
    
*   **ETH**
    

![](https://storage.googleapis.com/papyrus_images/af13da000dc288a07f5c559882b63334b15b567f26cf459d06bd962ed98a0baa.png)

### **2\. Choose Duration**

Select the settlement time:

*   **1 minute**
    
*   **3 minutes**
    
*   **5 minutes**
    

![](https://storage.googleapis.com/papyrus_images/abf1823b054b1ca53651d5fe787e2b3f310d4b8b23546553d3d05fe5de10e0c5.png)

### **3\. Enter Bet Amount**

Set the amount of **pOAS** you want to bet:

*   Minimum: **10 pOAS**
    
*   Maximum: **20,000 pOAS**
    

![](https://storage.googleapis.com/papyrus_images/bdfe745ad1009f3b7c7bfccddc40980086644c50aef3f17212016bf226a083ef.png)

### **4\. Predict Price Direction**

Choose:

*   **UP** 📈 — if you expect the price to be higher at settlement
    
*   **DOWN** 📉 — if you expect the price to be lower
    

![](https://storage.googleapis.com/papyrus_images/730a5727d05bd321b7b858532791466a7c25e2f82b067370c86da85af5f2f7e7.png)

### **5\. Wait for Settlement**

Mikoshi will lock your bet and settle based on oracle pricing at the end of the selected duration.

#### **6\. Settlement**

If you win, the payout in **pOAS is automatically transferred to your wallet.** If you lose, your bet amount is not returned.

About Mikoshi
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**Mikoshi** is a short-term binary options trading dApp built on **Oasys** and powered by **Saisen**. Users can bet **pOAS** on short-term price movements of crypto assets and enjoy fast, game-like trading rounds. Mikoshi aims to expand liquidity circulation and activate the Oasys ecosystem by providing a fun, simple, and high-engagement trading experience.

**Predict. Bet. Win.**

[https://x.com/mikoshibysaisen](https://x.com/mikoshibysaisen)

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*Originally published on [Mikoshi](https://paragraph.com/@mikoshi/introducing-mikoshi)*