Currency & FP System — Product Specification
What is FP?
FP (Forsyt Points) is the universal currency of the Forsyt platform. Think of it like casino chips — real money goes in, FP comes out, and everything inside the platform runs on FP.
- Players bet in FP
- Agents manage credit in FP
- Limits, balances, P&L — all FP
- Real currency only matters at the edges: deposits in, settlements out
Who Sees What
Players
Players only see FP. No currency symbols, no conversion, no confusion.
Available Balance: 5,000 FP
Min Bet: 10 FP
Max Bet: 2,000 FP
Players never need to know about HKD, INR, or USD. FP is their world.
Agents
Agents see FP by default. Optionally, they can toggle a setting to see currency equivalents alongside FP.
Default view:
Balance: 12,000 FP
Credit Limit: 50,000 FP
Today's P&L: +1,200 FP
With currency toggle ON (agent onboarded in INR):
Balance: 12,000 FP (₹48,000)
Credit Limit: 50,000 FP (₹2,00,000)
Today's P&L: +1,200 FP (+₹4,800)
The currency amount is informational — it helps agents mentally map FP to real money. It does not change any functionality.
Admin (Forsyt)
Admin sees everything — FP amounts, currency rates, provider balances in native currency, and FP equivalents.
Provider: Betfair
Balance: £10,000 GBP → 250,000 FP
Provider: Seven
Balance: HK$100,000 → 250,000 FP
B-Book Headroom: 500,000 FP
Total Platform Liquidity: 1,000,000 FP
How Money Enters the System
Step 1: Admin Deposits Real Money at Providers
Forsyt deposits money into provider accounts (Betfair, Seven, etc.) in their native currency. Admin enters this balance into the platform.
Action: Update Betfair balance to £10,000
System: £10,000 × 25 FP/£ = 250,000 FP added to treasury
Step 2: Admin Sets Global Conversion Rates
Admin maintains a simple rate table:
| Currency | 1 Unit = FP |
|---|---|
| GBP | 25 FP |
| HKD | 2.5 FP |
| INR | 0.25 FP |
| USD | 20 FP |
These rates are fixed — not live forex. Admin updates them manually when business decides. Rate changes are logged for audit.
Step 3: FP Flows Down the Hierarchy
Treasury (1,000,000 FP)
│
├── Agent Mumbai (credit limit: 100,000 FP)
│ ├── Player A (credit limit: 10,000 FP)
│ └── Player B (credit limit: 5,000 FP)
│
└── Agent HK (credit limit: 200,000 FP)
├── Player C (credit limit: 20,000 FP)
└── Player D (credit limit: 15,000 FP)
Admin allocates FP to agents. Agents allocate FP to players. Credit limits control the max. Standard existing flow — currency doesn't change this.
Where Does FP Come From?
This is the critical product question. FP is not limited to provider deposits.
Source 1: Provider Deposits (Real Money Backing)
Every dollar/pound/rupee deposited at a provider generates FP at the global rate. This FP is "backed" — there's real money behind it that can be used to hedge bets.
Source 2: B-Book Capacity (Risk Appetite)
When Forsyt (or agents in the hierarchy) book bets instead of hedging them, no provider balance is consumed. The platform is the counterparty. This means:
- Even if provider balances hit zero, players can still bet
- The B-Book cascade absorbs the bets
- FP generated from B-Book capacity is "virtual" — backed by Forsyt's willingness to take risk, not by deposits
What This Means in Practice
Provider deposits: 500,000 FP (real money backing)
B-Book headroom: 500,000 FP (risk capacity)
Total FP available: 1,000,000 FP
If admin sets B-Book headroom to "unlimited":
Total FP available: ∞ (limited only by credit limits set for agents/players)
When does a player get rejected? Only when ALL of these are true simultaneously:
- Provider balances are exhausted (can't hedge)
- B-Book headroom is exhausted (Forsyt won't take more risk)
- The bet requires hedging (not fully absorbed by cascade)
If Forsyt is willing to take unlimited risk (B-Book headroom = unlimited), players are never rejected for liquidity reasons — only for their own credit limits.
Agent Onboarding
When an agent is onboarded, admin assigns:
- Credit limit (in FP) — how much FP the agent can manage
- Settlement currency — the real-world currency for settling obligations (INR, HKD, USD)
The settlement currency determines:
- What currency appears in settlement reports
- What currency the optional dashboard toggle converts to
- How real-world payments are referenced ("Agent Mumbai owes ₹48,000" vs "Agent HK owes HK$19,200")
The entire downline inherits the agent's settlement currency. If Agent Mumbai is INR, all sub-agents and players under Mumbai settle in INR with the upline.
Example: Agent Onboarding Flow
Admin creates Agent:
Name: Agent Mumbai
Code: AGT-MUM-001
Settlement Currency: INR ← NEW
Credit Limit: 100,000 FP
Admin allocates FP:
Treasury → Agent Mumbai: 50,000 FP
Agent Mumbai balance: 50,000 FP
Agent Mumbai allocates to players:
Agent Mumbai → Player A: 10,000 FP
Agent Mumbai → Player B: 5,000 FP
Agent Mumbai remaining: 35,000 FP
No currency conversion happens during any of this. It's all FP.
Betting Flow — What Happens to Currency
Player's View
Player A places a bet:
Match: India vs Australia
Selection: India to win
Odds: 2.50
Stake: 1,000 FP
Potential Payout: 2,500 FP
Balance: 10,000 FP → 9,000 FP
Player sees FP. Done.
Behind the Scenes
The V3 cascade routes the bet through the hierarchy:
Stake: 1,000 FP
Level 1 — Agent Mumbai retains 30%: 300 FP (agent's B-Book)
Level 2 — Forsyt retains 50%: 350 FP (platform B-Book)
Remainder to hedge: 350 FP → Betfair
Hedge conversion: 350 FP × (1/25) = £14 GBP → placed at Betfair
Currency conversion happens only at the hedge step. Everything before it is FP.
If Provider Balance is Exhausted
Stake: 1,000 FP
Level 1 — Agent Mumbai retains 30%: 300 FP
Level 2 — Forsyt retains 50%: 350 FP
Remainder to hedge: 350 FP
Betfair balance: £0 (exhausted)
Seven balance: HK$0 (exhausted)
→ B-Book headroom available? YES (400,000 FP remaining)
→ Forsyt absorbs the 350 FP as additional B-Book retention
→ Bet accepted. No hedge placed. Forsyt is the counterparty.
Player doesn't know or care. Bet goes through.
Settlement — Where Currency Matters
Settlement is where FP meets the real world. At the end of each settlement period:
Step 1: Calculate Take (in FP)
Agent Mumbai's Take this period: -5,000 FP
(Agent lost money — players won more than they lost)
Step 2: Convert to Settlement Currency
Agent Mumbai settlement currency: INR
Rate at period close: 1 FP = ₹4
Settlement obligation: -5,000 FP = -₹20,000
Agent Mumbai owes Forsyt ₹20,000
Step 3: Settlement Report
Agent sees:
┌─────────────────────────────────────────┐
│ Settlement Report — Week of Mar 10 │
│ │
│ Net P&L: -5,000 FP │
│ Settlement: -₹20,000 INR │
│ │
│ Status: Pending payment │
└─────────────────────────────────────────┘
Rate Locking
The conversion rate is locked at the moment the settlement period closes. If admin changes the INR rate the next day, it doesn't affect this period's settlement. This prevents disputes.
Admin: Currency Rate Management
Rate Table UI
┌──────────────────────────────────────────────────┐
│ Global Currency Rates │
│ │
│ Currency 1 Unit = FP Last Updated Action │
│ ───────── ────────── ───────────── ────── │
│ HKD 2.50 FP Mar 15, 2026 [Edit] │
│ INR 0.25 FP Mar 15, 2026 [Edit] │
│ USD 20.00 FP Mar 15, 2026 [Edit] │
│ GBP 25.00 FP Mar 15, 2026 [Edit] │
│ │
│ [+ Add Currency] │
│ │
│ ⚠ Rate changes take effect next settlement │
│ period. Current period uses locked rates. │
└──────────────────────────────────────────────────┘
Editing a Rate
┌──────────────────────────────────┐
│ Edit Rate: HKD │
│ │
│ Current: 1 HKD = 2.50 FP │
│ New: 1 HKD = [3.00] FP │
│ │
│ Impact Preview: │
│ - 3 active providers in HKD │
│ - Total HKD deposits: 300,000 │
│ - Old FP value: 750,000 FP │
│ - New FP value: 900,000 FP │
│ - Treasury delta: +150,000 FP │
│ │
│ - 2 agents settle in HKD │
│ - Their reports will use new │
│ rate from next period │
│ │
│ Reason: [ ] │
│ │
│ [Cancel] [Update Rate] │
└──────────────────────────────────┘
Provider Creation (Updated)
Previously admin entered exchangeRate per provider. Now:
┌──────────────────────────────────┐
│ Add Provider │
│ │
│ Name: [Betfair UK ] │
│ Currency: [GBP ▼] │
│ Rate: 1 GBP = 25 FP │
│ (from global rates) │
│ │
│ Balance: [10,000] GBP │
│ FP Value: 250,000 FP │
│ │
│ [Cancel] [Add Provider] │
└──────────────────────────────────┘
Rate is read-only here — derived from the global table. Admin only enters the balance.
Admin: B-Book Headroom
Liquidity Overview (New Section in Dashboard)
┌──────────────────────────────────────────────────┐
│ Platform Liquidity │
│ │
│ Provider Deposits (backed) │
│ Betfair UK: £10,000 → 250,000 FP │
│ Seven HK: HK$100,000 → 250,000 FP │
│ ──────────────────────────────────── │
│ Subtotal: 500,000 FP │
│ │
│ B-Book Headroom (risk capacity) │
│ Current: 500,000 FP │
│ Used: 120,000 FP │
│ Remaining: 380,000 FP │
│ [ ] Unlimited │
│ │
│ ════════════════════════════════════ │
│ Total Platform FP: 1,000,000 FP │
│ Allocated to Agents: 450,000 FP │
│ Available in Treasury: 550,000 FP │
└──────────────────────────────────────────────────┘
Checking "Unlimited" means Forsyt is willing to be the counterparty for any amount. The system will never reject a bet for liquidity reasons (only credit limit reasons).
Summary: What Changes for Each Role
For Players
Nothing changes. FP is FP. They never see or think about currency.
For Agents
- Assigned a settlement currency at onboarding (INR, HKD, etc.)
- Optional toggle to see currency equivalents on dashboard
- Settlement reports show both FP and local currency amounts
- All functionality remains in FP
For Admin
- New global rate table (replaces per-provider exchange rates)
- Rate changes are audited and take effect next settlement period
- Provider creation simplified (no exchange rate input — derived from global table)
- New B-Book headroom config controls how much "virtual FP" the platform allows
- Liquidity overview shows backed vs risk-based FP
- Settlement reports include currency conversion for agent obligations
For the System
- Single source of truth for rates (no per-provider conflicts)
- Currency conversion at exactly two points (provider deposit in, hedge bet out)
- B-Book acts as infinite liquidity backstop when configured
- Settlement rates locked at period close (no disputes)