Be the house.
Every coupon needs somebody on the other side. Deposit FUN and the pool takes the other side of every trade: you earn the spread, the fees and whatever traders lose, and you pay out what they win.
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The share price rises as traders pay the spread, open and holding fees, and the collateral of losing positions. It falls when the pool pays out a winning trade. This is that growth, nothing added.
Where the earnings come from
Every figure is from the protocol's own settlement log
How the pool earnsYou are the counterparty to every trade
There is no order book. When a trader opens a position, the pool takes the other side. The trader pays a spread on the way in and out, an open fee on their position size, and a holding fee that accrues every second they stay in. If the trade loses, the pool keeps what they lost. If it is liquidated, a keeper takes a 1% bounty, whatever margin is left goes back to the trader, and of the rest, half is burned and the pool keeps the other half. All of it lands in the share price, so you earn by holding shares, not by claiming anything.
What can lose you moneyTrader wins come out of the pool
When a trade closes in profit, the pool pays it. A run of winning traders lowers the share price, and a large enough one can leave the pool short. The pool can only pay out what is free, so a trader owed more than that gets less. Your shares fall in value in that scenario; they cannot go below zero.
How deposits and withdrawals workRequest first, finish after a delay
Both are two steps: request, then come back once a delay have passed and finish within the window that follows. The wait stops anyone from watching a trader's unrealised profit and leaving ahead of it, or buying in just before a loss lands, either of which would push the cost onto everyone else in the pool. Each one settles at the share price when you requested or when you finish, whichever is worse for you. You can cancel either request for a full refund before it finishes. Withdrawals can only draw on liquidity that is not backing open positions.
Market termsWhat traders pay on each FUN market
| Market | Spread | Open fee | Holding fee | Max leverage |
|---|
ContractsEvery address this pool runs on, to check for yourself
- Liquidity vault
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- Owner (team wallet)
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Winning trades are paid from here before your FUN is touched. It earns nothing and nobody can withdraw it, so fees and trader losses still go to depositors.
Connect a wallet to see your shares.
Deposit FUN and you hold a share of every trade's outcome.
Deposits are two steps: request now, then come back after the delay to finish. You can cancel any time before then.
Connect a wallet to provide liquidity