Simply, conditional agreements are decentralized contracts with specific criteria that must be met in order for them to be fulfilled. They have an expiration date, and can be filled anytime they meet the criteria before that expiration date. They can be bought and sold.
The Conditions are:
Token (can be created for any token)
Price that that contract becomes active at (upwards or downwards - typically priced in USDC or ETH)
Expiration Date - after this date the contract is closed, it can only be activated prior to this date
Using these three criteria, you can create 100's of unique contracts. Later, we'll highlight a few to help you get started.