FAQ

Trading

Why does price equal probability? Because 1 USDC = 1 YES + 1 NO can be minted / redeemed at any time, arbitrage pins the sum of both prices to 1. A YES price of 0.65 is the market voting "65% probability" with real money.

How are fees charged? Only taking fills pay 0.2%; passive maker fills pay nothing. Cross-match surplus goes to the protocol, but your fill is already better than your own quote.

Why can't I place a market order? Market orders need resting orders on that side. New markets often start empty — use a limit order instead; your limit order itself provides the liquidity.

I posted a Buy NO order — why did it fill against a YES buyer? That's cross matching: the protocol mints a complete set, gives YES to them and NO to you; your combined payments exactly cover the 1 USDC set. You filled at your own quote — nothing was lost.

Where did my proceeds go after my limit order filled? Maker proceeds accrue to your book seat's free balance. Click Claim Funds in the My Holdings panel to withdraw to your wallet.

Why did my cancel fail? Cancellation requires the order's original side (Side) — the on-chain order ID can't distinguish YES from NO orders. The official frontend handles this automatically; record the side if you integrate directly.

Creation & Settlement

When do I get my deposit back? After settlement completes, all claims are done and assets are drained, your CloseMarket call refunds it in full (along with all account rent). The only way to lose it: a dispute is raised and upheld.

Who submits the result after expiry? Anyone (permissionless) — the frontend has a Submit Result button; usually the creator or a keeper bot. An oracle update transaction is sent first automatically.

What if the oracle result is wrong? Three layers of correction: within 24h anyone can raise a staked dispute → 48h public voting → still contested? DAO M-of-N review can override.

Are losing tokens good for anything? No — they go to zero at settlement. No action needed (you can close the token account to reclaim its rent).

What is the Invalid state? When the oracle value is outside {0, 1e18} the result records as Invalid; the market won't settle and the result can be resubmitted after the feed is fixed.

Disputes & Voting

How much does a dispute cost? The stake equals the market creator's deposit (≥600 USDC). Win: stake back + the creator's entire deposit. Lose: your stake goes to the creator.

How are votes counted? 1 USDC = 1 vote; stake more, weigh more. Winners get their principal back plus a pro-rata split of the entire losing pool; losers forfeit their stake.

When can I claim after voting? Once the market reaches Settlement, click Claim Vote Reward in the settlement panel; your vote record account closes and its rent is refunded.

Technical

Are funds safe? All vaults are held by market PDAs; only program logic can move them via invoke_signed — no admin key can divert funds. The frontend never touches funds or signatures; every transaction is signed locally in your wallet.

How do I try it on devnet? The devnet deployment uses test USDC and all windows shrink to 5 minutes, so you can run the full lifecycle quickly.

How do I build an off-chain indexer / integration? The program writes an audit log via self-CPI for every instruction and increments a per-market sequence number; consuming the log reconstructs the book and trade history losslessly. See Architecture.