Glossary
The terms used on a market page.
- YES / NO token
- A claim on the market's final outcome. The winner pays 1 USDC gross, less the disclosed redemption fee; the loser pays zero.
- Price
- The dollar price of a token in a Raydium pool, set by the market. YES and NO prices are independent. The AI oracle does not set prices.
- Spot observation
- A saved pool price at fetch time. It excludes swap fees and price impact and is not an executable quote. The source may have updated earlier.
- AI estimate
- The weekly average of three models' assessment of the evidence. Guidance, not scientific truth, a market price or a payout.
- Complete pair
- One YES plus one NO token, backed by 1 USDC locked when the pair is minted.
- Resolution
- The separate process that establishes a final contractual outcome under fixed criteria. A proposal and challenge period precede finalization.
- Redemption
- The action that exchanges a winning token for collateral after final resolution, less the disclosed fee.
- Price impact
- The difference your swap size makes to the price available in a pool.
- Legacy simulator
- The older local dealer-based accounting demo. Its scores, balances and closes are not Raydium prices or live binary-token mechanics.