How Markets Work

Market basics

Each market has two outcomes. Most are shown as YES and NO, but labels can be customized. You buy shares of an outcome using WBASED. Shares represent your position in that outcome.

• Markets are binary by design (exactly two outcomes).
• Live KEKTECH markets use CPMM pricing only.
• Prices are set by the on-chain CPMM curve and move with trade size.
• Your trade creates shares and updates the market price.

Shares and payouts

When a market finalizes, payouts are calculated from a snapshot of collateral and winning shares. Your claim is proportional to your winning shares at that snapshot.

Prices vs payouts

The UI shows two different ideas on purpose: CPMM price and pool payout. They are related, but they are not the same thing.

• Current marginal price is the live CPMM probability for a tiny trade.
• Full-value equivalent translates your trade into fixed-claim CPM intuition.
• Break-even after fees tells you the probability threshold your trade needs.
• Pool payout if wins now is a separate pro-rata claim number, not the market price.
• Historical chart probabilities should follow CPMM price, not raw share inventory split.