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Trade a decision

Back PASS or FAIL, trade a pool, split, merge and redeem.

You can trade a decision while its markets are open, from the moment trading starts until the window closes. Open it from the fund's page with Open the decision, or from an alert.

Read the decision

At the top is the proposal's exact action, with the market's line through it. Under it:

  • Trading closes in: the time left in the window.
  • PASS leads FAIL: how much higher a share trades in the PASS world than in the FAIL world, right now.
  • Time-weighted lead: the same lead averaged over every second so far. This is what the decision reads.
  • Window and Committed minimum out: the proposal's size and what its route must deliver.

Markets shows each pool's price, its reserves and its fee; Trades lists every trade so far.

Back a side

The quickest way to take a position is Back a side under Trade:

  1. Pick PASS or FAIL

    Choose PASS if you expect the move to raise the fund's value, FAIL if you expect it to lower it.

  2. Enter USDC

    Your USDC becomes the same amount of PASS USDC and of FAIL USDC, and the copies of the side you chose buy that side's shares. The hint shows about how many, and the floor 1 % below.

  3. Approve

    Press Back PASS or Back FAIL and approve one transaction.

You keep the other side's USDC copies: if the other side wins, they redeem one for one into USDC.

Trade a pool

Trade a pool buys or sells shares in one pool with that pool's USDC copies, for example selling PASS shares for PASS USDC. Use Split and merge first to turn USDC or fund shares into copies.

Split and merge

Under Split and merge, choose the collateral, USDC or Fund shares:

  • Split turns each unit into one PASS and one FAIL copy.
  • Merge turns pairs back into units, until the decision settles.

After the decision

When the decision settles, Redeem replaces Split and merge. Choose the collateral and redeem your copies of the winning side: PASS if the route was executed, FAIL otherwise. Copies of the losing side are worth nothing.