# Chained Speed Markets ### What are Chained Speed Markets Chained Speed Markets are the next evolution of classic [Speed Markets](https://docs.thales.io/thales-speed-markets/broken-reference), allowing you to predict multiple sequential price movements in one go for explosive leveraged payouts up to **47x** ! Chained Speed Markets allow you to create a series of **2** to **6 sequential price predictions** with a fixed Strike Time each and with an increasing payout multiplier per each added market. This product has also been voted in by the Thales Governance, under the [TIP-174 Chained Speed Markets](https://github.com/thales-markets/thales-improvement-proposals/blob/main/TIPs/TIP-174.md) {% embed url="" %} ### How Chained Markets work #### Deposit and Engage With [Speed Markets](https://docs.thales.io/thales-speed-markets/broken-reference), we allowed the users to bypass the limitations of the classic crypto trading markets. They could now trade short term markets, and not really worry about maturity dates. However, the Speed markets had a different limitation - in one trade, you could at most double your position. In order to accommodate the needs of users looking for a **more leveraged exposure**, we created Chained Speed Markets. Users can initiate their Chain Speed Markets journey by depositing a modest $5, unlocking a world of strategic trading possibilities. The player then selects the number of rounds, ranging from **2 to 6**, with each round swiftly lasting 10 minutes. #### Precision At the deposit stage, traders can show their **strategic thinking and analytical skills**, predicting whether the price of the chosen asset will be above or below its initial value at the **conclusion of each 5 or 10-minute round**. The users are required to submit **all predictions** for the selected rounds at the time of deposit. Once set, these **predictions are immutable and cannot be altered.** Success in each round means advancement to the next, with the potential for multiplied returns. However, an **incorrect prediction at any stage** results in the loss of the initial $10 deposit. The challenge lies in maintaining accuracy across **all selected rounds.** {% embed url="" %} With an increasing multiplier for each correctly predicted round, ranging from 1.7 for the second round, up to 1.9 for 6 rounds, the excitement intensifies as traders witness their potential returns grow. For instance, a 2-round chained market boasts a thrilling 2.89x payoff if both rounds are picked successfully (up to 47x for 6 rounds ) #### Powered by Pyth Network Chained Speed Markets leverage the power of [Pyth Benchmark](https://pyth.network/benchmarks) on-demand oracles, offering historically queryable prices that validate trades in **near real-time**. These oracles play a crucial role in risk management for intraday markets like Speed (and Chained) Markets. Pyth Benchmark price feeds are updated every second using source data from reputable third-party publishers, providing **verifiable transparency** through the Pythnet blockchain. {% embed url="" %} Chained Speed Markets represent a fusion of **speed, strategy, and multiplied** returns, offering traders an exhilarating platform to navigate the dynamic landscape of financial markets. ### Chained Markets parameters The parameters for **Chained Speed Markets** will be maintained via the Governance process. Configuration TIPs for considerations like opening the **ChainedSpeedMarketAMM** up for LPing will need to be submitted by the community and voted in by the Thales Council. Initial funding will be provided by the TreasuryDAO, but future LPing could take it's place to provide liquidity for Speed Markets. * **Volume generated on Chained Speed Markets will count towards gamified staking rewards**. * Chained Speed Markets currently offer **5 and** **10 minute rounds**, but there might be other options in the future * **ETH and BTC** will be the supported assets, with expansion to more assets planned in the future. * Speed Markets will include a **SafeBox** fee of **2%**. * The number of round can be between **2 and 6** * The multiplier starts from **2.89x** for two markets, with a max **47x for 6 rounds** * The minimum buy-in will be **5 USD,** with a maximum of **10 USD** (but both can be changed). * The AMM Risk Cap per Day will begin at 10.000 USD. Positions can be purchased using the several forms of collateral, with the minimum amount of each adjusted to equal 5 USDC. The following forms of collateral are accepted: {% embed url="" %} {% hint style="info" %} Speed Markets on **Optimism**, **Arbitrum** and Base also support **Multicollateral** **offramping**, meaning you can choose the form of collateral you'd like to receive when claiming a winning position. {% endhint %}