How Every Round Stays Fair
One pool, one price, no house. Everyone in a round settles at the same multiplier, and every reading behind a settlement is published.
- Rake
- 2%, capped at the losing pool
- Most per wallet in one round
- 2,000 points
- Settlement
- Median of five exchanges
- Voids
- Full refund, zero rake
Three Rules in Every Round
- 01
No House
In every round your counterparty is the other side of the pool. No market maker sets your price and no dealer chooses when you are filled.
- 02
No Speed Edge
The price to beat is read on a window that opens only after staking closes. Being faster, closer or better connected buys nothing.
- 03
Checkable
Each settled round publishes the prices, sources and times it settled on, so anyone can redo the maths without trusting us.
All three are contract rules from 15 December 2026. Today this is a points beta running the same rules.
How a Live Round Settles
Stake While the Round Is Open
Staking closes before the price to beat is read. Once locked, a stake is final and cannot be reduced, cancelled or withdrawn.The Price to Beat Is Read After Lock
Settlement reads the median of five exchange feeds at the close of the round. It is not a single provider and it is not Chainlink.Settle, or Void and Refund
At least two sources must respond and agree within 0.5%. Too few fresh sources, too wide a disagreement, an exact tie or a one-sided pool voids the round, and every stake is refunded with zero rake.
Settled Once, Never Rewritten
A database status guard lets each round settle only once, and no control lets an operator choose the winner of a live round or rewrite a settled one.
Every settled round publishes a receipt: the round ID, the open, lock and settle times, the quote-read times, the price to beat, the close, the winner, the pools, the rake, the multiplier and each recorded source price. Older rounds identify fields that were not recorded. From 15 December 2026, rounds settle on-chain and the receipt also carries the transaction and the signed price data, so anyone can recompute the result without trusting us.
The Payout Formula
payout = stake × (total pool − rake) ÷ winning pool
rake = min(2% of pot, losing pool)
The engine takes 2% of the pot, never more than the losing pool, so a winner is never paid back less than their stake. With a full losing pool that works out at 0.98 of the gross payout. Losing positions receive nothing. Exact ties, one-sided rounds and oracle failures refund stakes in full with zero rake.
- Higher pool, your stake included
- 600 points
- Lower pool
- 400 points
- Your stake on Higher
- 100 points
- Rake, 2% of 1,000
- 20 points
- If Higher wins, you receive
- 163.33 points
How Desk Markets Settle
Scheduled markets in every category, binary and multi-outcome, have no price feed to read. The desk settles them in the open, and no single person can do it alone.
The Desk Proposes the Result
After the market closes, an administrator proposes the outcome with a public source link. The proposal is published on the market page.Players Can Challenge It
A public challenge window opens with the proposal. Any player with a position can challenge, and every challenge is answered in public.A Second Administrator Confirms
Once the window has closed and every challenge is answered, a different administrator confirms the result and the market pays out. Nobody confirms their own proposal.
Long-Dated Markets Trade on Firm Quotes
A pool needs everyone in the same round at the same time. A question that runs for months, such as an election, never gathers that crowd, and a pool's payout is only known when it closes. These markets trade on quotes instead, so you know your price before you buy.
price = 100 × e^(q ÷ b) ÷ the sum of e^(q ÷ b) over every outcome
One share pays 100 points if its outcome wins and nothing if it does not, so a price reads as a chance: 23 points a share is 23%. The venue quotes every price from the formula above, where q is the venue's position in an outcome and b is the market's depth. Prices across a market's outcomes always add up to 100, and every purchase moves the price for the next one; the depth sets by how much.
A quote shows the shares you get, what they pay and the price after your trade, and stays firm for 10 seconds. It is refused only if other trades have moved the price against the venue by more than 0.5% since it was given. A 2% spread is included in every buy and every sell. You can sell back at a quoted price until the market closes.
The desk settles these markets as above, paying 100 points for each winning share. If a market is voided, the points you put in come back, less any you took out by selling.
- Price before, each outcome
- 50 points a share
- You spend
- 100 points
- Spread included, 2%
- 1.96 points
- You get
- 1.96 shares
- Price after your trade
- 50.2 points
- If your outcome wins, you receive
- 195.7 points
Check It Against a Live Round
Stake free points on any of the nine live rounds, BTC, ETH or SOL at 5 min, 15 min or 1 hour, and read its receipt when it settles.