Docs / Liquidity before launch

Liquidity before launch

A market needs real prices on both sides before it opens. Backers provide them by locking buy orders. The program opens trading only when:

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Worked example

Backer A buys 100 Yes at 45¢ and locks 45. Backer B buys 100 No at 45¢ and locks 45. A No buy at 45¢ is the same as offering Yes at 55¢, so the book now reads 45¢ / 55¢: a 10¢ gap, 100 shares on each side, two backers. Anyone can press Launch.

A backing order can’t be cancelled for the lock period after it’s placed, and again for the same period after launch. If the market doesn’t launch before its deadline, every backer gets back exactly what they locked.

Why back a market: your orders become real orders at launch, and backers share a part of the trading fees for a period after launch. That share comes only from fees actually collected and is capped. It isn’t interest and it isn’t guaranteed.