Aver Docs


An overview of what the Aver project is.

What is Aver?

Aver is a unique blockchain protocol on Solana as well as a set of tools that enables participants to interact with the protocol in a variety of ways:
  • Aver Decentralised Exchange (DEX): Aver exchange is a decentralised, peer-to-peer, betting and prediction exchange built on the Solana Blockchain. The DEX enables participants to trade with one another by matching opposing bets (i.e. peer-to-peer), meaning there is no concept of 'the house' like there is when betting on a sportsbook.
  • Software Development Kits (SDKs): Develop algorithmic/arbitrage trading strategies to use on the Aver DEX Provide liquidity to markets on the Aver DEX by becoming a market maker Build front-ends for other types of prediction/betting markets while the Aver protocol takes care of everything else.

What is a Betting/Prediction Exchange?

A betting/prediction exchange is an online marketplace for participants to predict or bet on the outcome of discrete events. Exchanges offer many of the same opportunities to bet as a bookmaker does with some key differences:
  • In addition to ‘backing’ (betting that an outcome will occur), participants can also ‘lay’ (betting that an outcome will not occur)
  • Participants can trade in and out of positions, exiting previous bets before the result of the event is known - For some markets, trading back and forth can even occur in real-time throughout events (known as ‘in-play trading’)
  • The cost of betting and trading on Aver is miniscule compared to the implicit costs of betting against a sportsbook, or the hefty fees levied on web2 betting exchanges - Plus, fees are only levied when you make a profit
More information on this can be found in the Exchange FAQ

Why Solana?

Aver has been built on the Solana blockchain - the fastest and cheapest available.
Solana is a fast, secure and censorship resistant blockchain that has an open infrastructure well suited for global adoption. It is also the only blockchain capable of rivalling the speed and throughput of Web2 exchanges (400ms block times, up to 65,000 transactions per second). Compared to other blockchains such as Ethereum, Solana’s transaction costs are miniscule (<$0.0002 currently).

How Does Aver Work?

Aver’s protocol is an open and decentralised program on the Solana blockchain.


Markets are initialised as distinctive instances of a single smart-contract that governs all markets. These distinctive on-chain accounts describe underlying events as well as market specifications.

Market Resolution

In the near future, markets will be resolved through a decentralised process known as ‘oracle consensus’. When markets are initialised, the process for resolution is specified programmatically, which involves querying multiple independent, public source API’s.
After the event, a number of ‘oracles’ are selected from the network and asked to attempt to fetch the result of the event from these sources. These results are then aggregated and fed through a consensus process to determine the result.

Market Funds

Aver markets are trustless and eliminate counterparty risk completely by remaining 100% collateralized at all times. Each market has a ‘vault’, which is essentially a smart-contract governed escrow account. These vaults hold the funds to cover open (unmatched) orders and matched bets from all participants in the market.
No individual or organisation has the ability to access these funds. The funds are only released as a result of the protocol executing its predefined logic. For example, when an order is cancelled, the funds to back that order can be returned to the participant; when the result of a market is known, participants holding winning bets can settle their winnings from the vault.

Central Limit Order Books (CLOBS)

Exchange on the protocol is facilitated using a set of ‘stacked’, on-chain, central limit order books (CLOBS) – one for each outcome in the market. ‘Bids’ (offer to buy/back) and ‘asks’ (offer to sell/lay) are stored in accounts within the blockchain and updated when participants place, cancel or update their orders. When an order comes through to buy a particular outcome at a price greater than the cheapest available ‘ask’, or vice-versa, a trade will be matched.